MA516 Contingencies I
OverviewThe module will give students an understanding of the practical application of the techniques they learn in the BSc in Actuarial Science. It brings together skills from other modules, and ensures that students have the necessary entry-level skills and knowledge to join the actuarial profession or to embark on related careers, and also provides a platform for ongoing professional development. The syllabus is dynamic, changing regularly to reflect current practice and trends.
This module appears in:
Method of assessment
50% Examination, 50% Coursework
Readings on current topics will be drawn from newspapers, professional magazines and journals, and online resources.
The following textbooks are not required to be purchased, but may be consulted as further reading for students.
Understanding Actuarial Management (2nd Edition) Bellis C, Lyon R, Klugman S and Shepherd J (editors), 2010, Institute of Actuaries of Australia and Society of Actuaries
Modern Actuarial Theory and Practice (2nd Edition) Haberman S, Booth P, Chadburn R, James D, Khorasanee Z, Plumb R and Rickayzen B, 2005, Chapman & Hall/CRC
The intended subject specific learning outcomes. On successfully completing the module students will be able to:
1 describe the main types of financial services encountered in actuarial work;
2 discuss the different roles undertaken by actuaries and the core skills required in each practice area;
3 describe how the design of financial services impacts on the risks for the various stakeholders;
4 discuss the application of actuarial science in the context of the general business, social and legal environment;
5 discuss sources of risk to providers of financial services;
6 describe how providers of financial services can manage risks;
7 discuss topical issues relevant to the financial services industry.
The intended generic learning outcomes. On successfully completing the module students will be able to:
1 demonstrate improved communication skills;
2 demonstrate enhanced intellectual independence;
3 demonstrate relevant computing skills, including the use of appropriate document preparation software;
4 demonstrate improved problem-solving skills;
5 demonstrate an awareness of important issues relating to good oral and written presentation of results;
6 demonstrate greater ability to select material from source texts, found independently or through recommendation; and awareness of the relationship of this material to background and more advanced material;
7 demonstrate independent learning and time management skills;
8 demonstrate improved teamwork skills;
9 demonstrate the ability to reflect and an understanding of actions required for career development.