UCT BUS3024S-Actuarial Science II: Contingencies

UCT BUS3024S-Actuarial Science II: Contingencies

Status
Third year, second semester, two two-hour lectures per week.
Convener : Associate Professor I L MacDonald
Prerequisites
BUS3018F Actuarial Science II: Models
Course Outline

• Simple assurance and annuity contracts; Also more complex contracts (increasing benefits) Derive formulae for means and variances of benefit payments;
• Define standard actuarial symbols and the relationships between them, including standard life table functions (ultimate and select) Calculate net premiums and net premium provisions (prospective and retrospective)
• Derive Thiele’s differential equation
• Calculate death strain at risk, actual and expected death strains, mortality profit
• Calculate gross premiums
• Functions involving two lives; cashflow models; discounted emerging costs; Heterogeneity within a population.

Duly Performed Requirements

• Completion and timeous submission of tutorial exercises.
• Writing of all class tests.
• An overall average of 40% for classwork.

Assessment

• Tutorials and tests 40%
• Examination (3hrs) 60%