The aim of this module is to develop the student's ability to apply a wide range of key actuarial concepts in simple traditional and non-traditional situations. Outline syllabus includes: how to do a professional job; contract design; modelling; data; setting assumptions; expenses; pricing and financing strategies; valuing liabilities; accounting and disclosure; surplus and surplus management; sources of risks; risks in benefit schemes; pricing and insurance risks; the risk management process; risk management tools; capital management and monitoring experience.
This module will cover a number of syllabus items set out in Subject CP1 published by the Institute and Faculty of Actuaries. This is a dynamic syllabus, changing regularly to reflect current practice.
Total contact hours: 72
Private study hours: 228
Total study hours: 300
80% Examination, 20% Coursework
Study notes published by the Actuarial Education Company for subject CP1.
See the library reading list for this module (Canterbury)
The intended subject specific learning outcomes. On successfully completing the module students will be able to:
1 Demonstrate the ability to apply a wide range of key actuarial concepts in simple traditional and non-traditional situations.
2 Demonstrate knowledge and understanding of complex techniques applicable to solve problems using core actuarial concepts in the context of current professional actuarial practice.
3 Demonstrate a high level of understanding of the main body of knowledge for the module
4 Demonstrate skill in calculation and manipulation of the material written within the module.
5 Apply a range of concepts and principles of core actuarial concepts in various contexts.
6 Demonstrate skill in solving problems using core actuarial concepts by various appropriate methods.
7 Demonstrate understanding of the current practical applications of the module material
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