Actuarial Mathematics I - MA516

Location Term Level Credits (ECTS) Current Convenor 2019-20
Canterbury Autumn
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5 15 (7.5) MR N Wood

Pre-requisites

Prerequisite: MACT3150 or MACT4012 Financial Mathematics; or co-requisite: MACT7150 or MACT6009 Financial Mathematics

Restrictions

None

2019-20

Overview

The aim of this module is to provide a grounding in the principles of modelling as applied to actuarial work – focusing particularly on deterministic models which can be used to model and value cashflows which are dependent on death, survival, or other uncertain risks. Indicative topics covered by the module include equations of value and its applications, single decrement models, multiple decrement and multiple life models. This module will cover a number of syllabus items set out in Subject CM1 – Actuarial Mathematics published by the Institute and Faculty of Actuaries.

Details

This module appears in:


Contact hours

48 hours

Method of assessment

70% Examination, 30% Coursework

Indicative reading

Students are provided with the study notes published by the Actuarial Education Company for Subject CM1 – Actuarial Mathematics.

See the library reading list for this module (Canterbury)

Learning outcomes

The intended subject specific learning outcomes. On successfully completing the module students will be able to:

1 demonstrate systematic understanding of the mathematical techniques used to model and value cashflows which are contingent on mortality and morbidity risks;
2 demonstrate the capability to deploy established approaches accurately to analyse and solve problems using a reasonable level of skill in calculation and manipulation of cashflows which are contingent on mortality and morbidity risks;
3 demonstrate a basic understanding of recent developments in Actuarial Mathematics and the links between the theory of Actuarial Mathematics and their practical application.

The intended generic learning outcomes. On successfully completing the module students will be able to:
1 apply a logical mathematical approach to solving problems;
2 demonstrate skills in written communication;
3 demonstrate skills in the use of relevant information technology;
4 demonstrate skills in time management, organisation and studying.

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