STAT6043 Life Contingencies
| Offered By | School of Finance and Applied Statistics |
|---|---|
| Academic Career | Graduate Coursework |
| Course Subject | Statistics |
| Offered in | First Semester, 2009 and First Semester, 2010 |
| Unit Value | 6 units |
| Course Description |
Topics covered will include: an introduction to the life table; estimation of age-specific transition intensities, both exact and using the census approximation; statistical tests for comparing standard life tables to crude estimates, and graduation of crude estimates; simple assurance and annuity contracts including means and variances of present values assuming constant deterministic interest; the use of life tables or table lookup for computation of moments of the present value of simple benefits; description and calculation of net premiums and net policy values of simple assurance and annuity contracts. |
| Learning Outcomes |
Development of basic actuarial techniques used in later work: forms of population heterogeneity and the issue of selection; simple assurance and annuity contracts; practical methods of evaluating expected values and variances of simple insurance and annuity contracts; and the calculation of gross premiums and provisions of assurance and annuity contracts. Many of the principles and techniques learnt in this unit will also assist students in subsequent units including Actuarial Techniques (STAT3038) and in the Institute of Actuaries of Australia's part III Life Insurance Course. |
| Indicative Assessment |
The mid-semester exam is compulsory and not redeemable. |
| Workload | 10 hours/week |
| Course Classification(s) | SpecialistSpecialist courses are designed for students having reached 'first degree' level of assumed knowledge, which provide for the acquisition of specialist skills; or 'second degree' and higher level of knowledge; or for transition to research training programs; or knowledge associated with professional accreditation. and TransitionalTransitional courses are designed for students from a broad range of backgrounds and learning achievements, which provide for the acquisition of generic skills; or an informed understanding of contemporary issues; or fundamental knowledge for transition to Advanced or Specialist courses. |
| Areas of Interest | Actuarial Studies |
| Eligibility | At least an average of 65% (or equivalent) in the final two years of an Australian undergraduate degree with at least two years of university level statistical and mathematical study including calculus and linear algebra, as well as mathematical statistics and linear regression theory. |
| Incompatibility |
Incompatible with STAT8043 Life Contingencies |
| Prescribed Texts | See Course Outline: http://ecocomm.anu.edu.au/courses/outline/STAT6043.pdf |
| Preliminary Reading |
See Course Outline: http://ecocomm.anu.edu.au/courses/outline/STAT6043.pdf
|
| Indicative Reading List | See Course Outline: http://ecocomm.anu.edu.au/courses/outline/STAT6043.pdf |
| Programs | Graduate Certificate in Actuarial Techniques, Master of Actuarial Statistics, and Master of Actuarial Studies |
| Other Information |
For further information please refer to http://ecocomm.anu.edu.au/courses/course.asp?code=STAT6043 |
| Academic Contact | See http://ecocomm.anu.edu.au/courses/course.asp?code=STAT6043 |
The information published on the Study at ANU 2009 website applies to the 2009 academic year only. All information provided on this website replaces the information contained in the Study at ANU 2008 website.
