STAT40980

Learning Outcomes:

The student will understand how actuaries maintain the solvency of companies and schemes advised by them, which is the first step in actually being able to advise such a firm or scheme. They will know to tools and techniques to apply and the key management decisions that must be made. They will be able to work with inaccurate models, and update and develop them as required by circumstances.

Indicative Module Content:

Review of the Actuarial Control Cycle & Risk Measuring and Monitoring

Monitoring the Emerging Experience: Data, Mortality & Morbidity, Expenses

Surplus and the Analysis of Surplus

Markets for Transferring Risk

Communicating Risk

Case Studies

Student Effort Hours:

Approaches to Teaching and Learning:

Requirements, Exclusions and Recommendations

Not applicable to this module.

Module Requisites and Incompatibles

Assessment Strategy

Feedback Strategy/Strategies

• Feedback individually to students, post-assessment
• Self-assessment activities

How will my Feedback be Delivered?

There are regular tutorials with problem sheets the student attempts prior to the tutorial, each tutorial treating a section of the course. The student is shown the ideal approach to the questions and shown where marks are awarded, and can thus assess their own attempt at the problem sheet. The level of understanding required to do well in the problems sheets is of a similar order as required to do well in the final examination.