This course provides a simplified model for solving actuarial problems in practice.  Sample actuarial problems are examined in detail, with solutions being developed using Excel and Visual Basic.  These solutions are then reported to the stakeholders of the problem.  The aim of this course is to develop actuarial capabilities beyond the technical foundations taught in other actuarial courses.

Upon successful completion of the requirements for this course, students will be able to:

• Identify actuarial problems in a variety of contexts.
• Identify the key factors that need to be taken into account in solving actuarial problems.
• Use computer-based tools to assist in solving actuarial problems.
• Communicate in writing the results of the solution to the actuarial problem to a variety of stakeholders.

• Assignments – 60%

• Final Exam – 40%

It is anticipated that students will spend on average 10 hours per week on the course, including time spent in class.

Completion of STAT2032 Financial Mathematics and Completion of or concurrent enrolment in STAT3004 Stochastic Modelling.

Weekly lecture notes will be available on Wattle. Hard copies of the lecture notes will not be provided in class. It is up to the student to print out the lecture notes from Wattle.

Students will be required to supply a calculator. The use of Excel is required for the completion of tutorial and assignment questions in this course. Excel may be used on campus or on the students’ personal computers or laptops. Students may find it beneficial to bring a laptop to lectures to follow along with Excel examples, although this is not a requirement.

Please refer to Course Website