STAT40100 Actuarial Mathematics 2

Academic Year 2024/2025

The aim of this subect is to provide a grounding in the mathematical techniques which can be used to model and value cashflows dependent on death, survival or other uncertain risks. It therefore covers CM1 (along with Act Maths 1)
Topics include:
Unit-linked policies
Multiple decrements
Pension funds
Heterogeneity and selection within a population
Some demographic topics
Use of Excel spreadsheets and simple VBA programmes to carry out Actuarial calculations
Principles of Actuarial Modelling

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Curricular information is subject to change

Learning Outcomes:

At the end of the module students should be able to:Calculate the unit fund, cash fund and measures of profit for unit-linked policiesDerive and use commutation functions to perform valuations of the main retirement benefits (including death benefits and contributions)Understand sources of heterogeneity amd methods for analysing same with regard to mortality levelsConstruct single figure indices to represent features of mortality data sets

Indicative Module Content:

unit fund, cash fund, measures of profit for unit-linked policies. commutation functions. sources of heterogeneity. mortality levels. single figure indices. features of mortality data sets

Student Effort Hours: 
Student Effort Type Hours




Autonomous Student Learning




Approaches to Teaching and Learning:
problem solving. lab work. reflective learning. blended learning with video content, lectures. 
Requirements, Exclusions and Recommendations

Not applicable to this module.

Module Requisites and Incompatibles
STAT40060 - Act. Maths 1

Assessment Strategy  
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade
Assignment(Including Essay): Theory questions n/a Other No


Exam (In-person): Final
n/a Other No


Exam (In-person): Lab test n/a Other No


Carry forward of passed components
Resit In Terminal Exam
Summer Yes - 2 Hour
Please see Student Jargon Buster for more information about remediation types and timing. 
Feedback Strategy/Strategies

• Feedback individually to students, post-assessment
• Group/class feedback, post-assessment

How will my Feedback be Delivered?

Homework assignments individually graded and returned. Group feedback also given in tutorial setting.

Name Role
Mr James Hannon Tutor