Actuarial Practice 3 - MACT6013

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Module delivery information

Location Term Level1 Credits (ECTS)2 Current Convenor3 2022 to 2023
Canterbury
Autumn Term 6 15 (7.5) Shaun Parsley checkmark-circle

Overview

The 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.

Details

Contact hours

Total contact hours: 48
Private study hours: 102
Total study hours: 150

Availability

Autumn

Method of assessment

100% Coursework:

Indicative reading

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

Learning outcomes

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.

Notes

  1. Credit level 6. Higher level module usually taken in Stage 3 of an undergraduate degree.
  2. ECTS credits are recognised throughout the EU and allow you to transfer credit easily from one university to another.
  3. The named convenor is the convenor for the current academic session.
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