Why do financial markets exist? What products and services are available, and why are they designed as they are?
In this module, you'll understand the demand and supply drivers for global financial products and services. By also investigating the external factors influencing these markets, you'll see why the products exist and how they have developed. You'll build your knowledge of the major asset classes and investment products, general and life insurance products, and banking products.
Throughout the module, you will see real-world examples and issues currently affecting financial markets, enabling you to link theoretical knowledge to wider practical considerations, adding depth and relevance to your learning.
You will see where you will apply actuarial techniques in the real world, and then in Core Actuarial Practice 2 will understand actuaries' roles in financial markets. Later in your studies, you will be ready to apply your knowledge and skills to the management of financial risks, and to prepare for specialist actuarial roles.
Together with Core Actuarial Practice 2, the material in this module can lead to exemption from the CP1 subject of the Institute and Faculty of Actuaries' examinations.
Lecture 56
Take home test worth 30%.
Examination (3 hours) worth 70%.
Reassessment Method: Like-for-like Composite form of reassessment for failed components – examination
On successfully completing the module, students will be able to:
1)Systematically apply a comprehensive knowledge of global financial products and financial services, including a wide range of the drivers for demand and supply and a detailed understanding of the key suppliers of such products and services, when formulating actuarial advice.
2)Critically evaluate products from the point of view of a range of stakeholders, identifying the financial needs the products address, and the extent to which these needs are met by the products
3)Assess and make sound judgements on the drivers and actuarial impacts for a range of stakeholders of current issues within global financial markets
4)Systematically propose and apply a wide range of actuarial techniques to solve complex problems in the context of current professional actuarial practice
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