MA212-5-AU-CO:
Contingencies I
2016/17
Mathematics, Statistics and Actuarial Science (School of)
Colchester Campus
Autumn
Undergraduate: Level 5
Current
15
04 March 2014
Requisites for this module
MA126 or BE300
(none)
(none)
(none)
MA312
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)
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. This module covers the initial part of the Institute and Faculty of Actuaries CT5 syllabus (Contingencies, Core Technical).
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)].
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)].
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.
No information available.
No information available.
No additional information available.
This module has 30 lectures in the autumn term. There are 3 revision lectures in the summer term.
Assessment items, weightings and deadlines
| Coursework / exam |
Description |
Deadline |
Coursework weighting |
| Coursework |
Homework 1 |
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| Coursework |
Homework 2 |
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| Coursework |
Homework 3 |
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| Coursework |
Homework 4 |
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| Coursework |
Homework 5 |
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| Coursework |
Homework 6 |
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| Coursework |
Homework 7 |
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| Coursework |
Homework 8 |
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| Coursework |
Homework 9 |
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| Exam |
Main exam: 120 minutes during Summer (Main Period)
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Additional coursework information
Information about coursework deadlines and tests can be found in the "Coursework and Exams" section of the Current Students, Information for students Maths web pages: Coursework and Test Information
Exam format definitions
- Remote, open book: Your exam will take place remotely via an online learning platform. You may refer to any physical or electronic materials during the exam.
- In-person, open book: Your exam will take place on campus under invigilation. You may refer to any physical materials such as paper study notes or a textbook during the exam. Electronic devices may not be used in the exam.
- In-person, open book (restricted): The exam will take place on campus under invigilation. You may refer only to specific physical materials such as a named textbook during the exam. Permitted materials will be specified by your department. Electronic devices may not be used in the exam.
- In-person, closed book: The exam will take place on campus under invigilation. You may not refer to any physical materials or electronic devices during the exam. There may be times when a paper dictionary,
for example, may be permitted in an otherwise closed book exam. Any exceptions will be specified by your department.
Your department will provide further guidance before your exams.
Overall assessment
Reassessment
Module supervisor and teaching staff
Mr Keith Bannister, email kbanni@essex.ac.uk, tel 01206 873618
Miss Claire Watts, Department Manager, Tel. 01206 873040, email cmwatts (Non essex users should add @essex.ac.uk to create the full email address)
Yes
Yes
No
Mr Neil McConville
The Queen's University of Belfast
Lecturer
Available via Moodle
Of 36 hours, 36 (100%) hours available to students:
0 hours not recorded due to service coverage or fault;
0 hours not recorded due to opt-out by lecturer(s).
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