2016/17 Undergraduate Module Catalogue

MATH3510 Actuarial Mathematics 1

15 creditsClass Size: 100

Module manager: Dr Georgios Aivaliotis
Email: G.Aivaliotis@leeds.ac.uk

Taught: Semester 1 (Sep to Jan) View Timetable

Year running 2016/17

Pre-requisite qualifications

MATH2515 and MATH2775, or equivalent.

This module is approved as a discovery module

Module summary

Introduction to actuarial modelling, assurances and annuities with particular emphasis on evaluation of assurances and annuities, and the calculation of premiums and reserves. This module covers the Unit 5 of the Faculty and Institute of Actuaries CT4 syllabus (Models, core technical) and the first four units of the Faculty and Institute of Actuaries CT5 syllabus (Contingencies, core technical).

Objectives

See learning outcomes.

Learning outcomes
On completion of this module, students should be able to:
- understand the principles of actuarial modelling, survival models and the corresponding formulas and notations, different types of assurance and annuity contracts, and the role of net premiums and reserves;
- evaluate assurance and annuity contracts and calculate net premiums and reserves.

Syllabus

1. Introduction to actuarial modelling
2. Survival models (recap)
3. Simple assurances and annuities
4. Evaluation of assurances and annuities
5. Net premiums and reserves
6. Variable benefits and annuities

Teaching methods

Delivery type	Number	Length hours	Student hours
Workshop	5	1.00	5.00
Lecture	27	1.00	27.00
Private study hours			118.00
Total Contact hours			32.00
Total hours (100hr per 10 credits)			150.00

Private study

- Consolidation of course notes and background reading
- Faculty/Institute of Actuaries 'CT 5 Contingencies'
- Faculty/Institute of Actuaries 'CT 4 Models'

Opportunities for Formative Feedback

Workshops and in-class tests

Methods of assessment

Exams

Exam type	Exam duration	% of formal assessment
Standard exam (closed essays, MCQs etc)	2 hr 30 mins	100.00
Total percentage (Assessment Exams)		100.00

Normally resits will be assessed by the same methodology as the first attempt, unless otherwise stated

Reading list

The reading list is available from the Library website

Last updated: 05/04/2018

Disclaimer

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