# Module Directory

## MA212-5-AU-CO:Contingencies I

The details
2019/20
Mathematical Sciences
Colchester Campus
Autumn
Current
Thursday 03 October 2019
Saturday 14 December 2019
15
01 October 2019

Requisites for this module
MA126 or BE300
(none)
(none)
(none)

MA312

## Key module for

BSC N233 Actuarial Science (Including Placement Year),
BSC N323 Actuarial Science,
BSC N324 Actuarial Science (Including Year Abroad),
BSC N325 Actuarial Science (Including Foundation Year)

## Module description

This module covers the initial part of the Institute and Faculty of Actuaries CT5 syllabus (Contingencies, Core Technical).

## Module aims

The aim of the Contingencies I module is to provide a grounding in the mathematical techniques which can be used to model and value cashflows dependent on death, survival or other uncertain risks.

## Module learning outcomes

On completion of this module, students should be able to:
* Define simple assurance and annuity contracts, and develop formulae for the means and variances of the present values of the payments under these contracts, assuming constant deterministic interest.
* Describe practical methods of evaluating expected values and variances of the simple assurance and annuity contracts.
* Describe and calculate, using ultimate or select mortality, net premiums and net premium reserves of simple assurance and annuity contracts.
* Describe the calculation, using ultimate or select mortality, of net premiums and net premium reserves for increasing and decreasing benefits and annuities.
* Describe the calculation of gross premiums and reserves of assurance and annuity contracts.

## Module information

Pre-requisites: MA126 OR BE300

Syllabus
1. Functions for one life
Define and use straightforward functions involving only one life. In respect of these functions: define assurance and annuity contracts and develop formulae for the means and variances of the present value of the benefits under the contracts [CT5-(i)].
2. Evaluation of means and variances
Develop practical methods of evaluating expected values and variances of contracts [CT5-(ii)].
4. Changing benefits.
Describe the calculation of net premiums and net premium reserves for increasing and decreasing benefits [CT5-(iv)].

## Learning and teaching methods

This module has 30 lectures in the autumn term. There are 3 revision lectures in the summer term.

## Bibliography

This module does not appear to have any essential texts. To see non-essential items, please refer to the module's reading list.

## Assessment items, weightings and deadlines

Coursework / exam Description Deadline Weighting
Coursework   Assignment 1
Coursework   Assignment 2
Exam  1440 minutes during Summer (Main Period) (Main)

Coursework Exam
20% 80%

### Reassessment

Coursework Exam
0% 100%
Module supervisor and teaching staff
Dr Jackie Wong Siaw Tze, email: jw19203@essex.ac.uk.
Dr Jackie Wong, email jw19203@essex.ac.uk
Dr Jackie Wong (jw19203@essex.ac.uk)

Availability
Yes
Yes
No

## External examiner

Dr Dimitrina Dimitrova
Cass Business School, City, University of London
Senior Lecturer
Resources
Available via Moodle
Of 69 hours, 30 (43.5%) hours available to students:
39 hours not recorded due to service coverage or fault;
0 hours not recorded due to opt-out by lecturer(s).

Further information
Mathematical Sciences

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