MATH3510 Actuarial Mathematics 1

15 creditsClass Size: 162

Module manager: Dr Graham Murphy
Email: G.J.Murphy@leeds.ac.uk

Taught: Semester 1 (Sep to Jan) View Timetable

Year running 2022/23

Pre-requisite qualifications

(MATH2530 or MATH2535) and MATH2750

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.

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
3. Simple assurances and annuities
4. Evaluation of assurances and annuities
5. Net and gross premiums and reserves
6. Variable benefits and annuities

Teaching methods

 Delivery type Number Length hours Student hours Lecture 33 1.00 33.00 Private study hours 117.00 Total Contact hours 33.00 Total hours (100hr per 10 credits) 150.00

Private study

- Consolidation of course notes and background reading
- Institute and Faculty of Actuaries 'CM1 Actuarial Mathematics 1'

Opportunities for Formative Feedback

Workshops
Feedback on assignments

Methods of assessment

Coursework
 Assessment type Notes % of formal assessment Assignment . 20.00 Total percentage (Assessment Coursework) 20.00

There is no resit available for the coursework component of this module. If the module is failed, the coursework mark will be carried forward and added to the resit exam mark with the same weighting as listed above.

Exams
 Exam type Exam duration % of formal assessment Standard exam (closed essays, MCQs etc) 3 hr 00 mins 80.00 Total percentage (Assessment Exams) 80.00

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