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Prophet 2 - MA951
| Location | Term | Level | Credits (ECTS) | Convenor | 2013-14 | 2014-15 | 2015-16 |
|---|---|---|---|---|---|---|---|
| Canterbury | Spring |
Masters
Undergraduate or postgraduate masters level module
|
15 (7.5) | Brown Professor M S |
|
|
|
The information below applies to the 2013-14 session
Synopsis
This module builds on the knowledge of the use of PROPHET introduced to students in MA950 – PROPHET 1. A synopsis of the syllabus: Use of PROPHET “goal seek” capability to find a premium rate that achieves a desired level of profitability (PVFNP as % of AP) for a new business model point; Use of PROPHET “goal seek” capability to find a premium rate that achieves a desired level of profitability for a new business model point using 3 further measures of profitability (Internal Rate of Return, Break Even Month and Profit Margin); Use of PROPHET Data Conversion System to read an input file in ASCII format to i) perform a number of calculations on the individual policy data and then produce output files for use by PROPHET system, ii) add validation checks and correction rules to the programme and iii) group the data so that grouped model point file rather than individual model point file data is produced; Calculation of the valuation reserves for a number of policies on several valuation bases for a Term Assurance product and check the results using a spreadsheet; Calculation the sterling reserves for a number of policies on several bases for a unit linked contract and check the results using a spreadsheet
Details
Contact hours
36 hours comprising terminal sessions, example classes and some lectures.
Method of assessment
100% Coursework
Preliminary reading
No preliminary reading available
Learning outcomes
- The intended subject specific learning outcomes and, as appropriate, their relationship to programme learning outcomes On successful completion of the Module, students will be able to: a) demonstrate further skills in specific actuarial software and information technology (e.g. PROPHET) b) further understand principles of specific actuarial mathematics techniques (A1) The intended generic learning outcomes and, as appropriate, their relationship to programme learning outcomes On successful completion of the Module, students will have developed skills in solving actuarial problems using appropriate computer techniques (B5, D5). They will also have developed skills using appropriate information technology (D3).
Pre-requisites
MA950 PROPHET 1