Undergraduate: Level 5
Thursday 03 October 2019
Saturday 14 December 2019
01 October 2019
Requisites for this module
MA126 or BE300
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)
This module covers the initial part of the Institute and Faculty of Actuaries CT5 syllabus (Contingencies, Core Technical).
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.
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.
Pre-requisites: MA126 OR BE300
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)].
3. Net premiums and reserves
Describe and calculate net premiums and net premium reserves [CT5-(iii)].
4. Changing benefits.
Describe the calculation of net premiums and net premium reserves for increasing and decreasing benefits [CT5-(iv)].
5. Gross premiums and reserves.
Describe and calculate gross premiums and gross premium reserves [CT5-(v)].
This module has 30 lectures in the autumn term. There are 3 revision lectures in the summer term.
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
||1440 minutes during Summer (Main Period) (Main)
Module supervisor and teaching staff
Dr Jackie Wong Siaw Tze, email: email@example.com.
Dr Jackie Wong, email firstname.lastname@example.org
Dr Jackie Wong (email@example.com)
Dr Dimitrina Dimitrova
Cass Business School, City, University of London
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).
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