Professor David Knox 300-410 The Actuarial Control Cycle I second semester Four hours per week of lectures and/or tutorials On completion of this subject, students should be able to:

• Describe how reserves, where necessary, could be calculated and how these could vary using different methods and assumptions;
• Describe the different investment alternatives that are available and how these should be chosen in view of the liablities;
• Discuss alternative definitions of solvency and how to assess future levels of solvency;
• Describe how the actual experiance should be monitored and assessed;
• dentify the sources of any profit and discuss the factors that affect the distibution of this profit;
• Explain how the actuarial control cycle approach and actuarial techniques can be used to tackle many commercial problems.

Reserving methods; investmenmts for different types of liabilities; assessment of solvency; analysis of experience; analysis of surplus; actuarial techniques in the wider fierls. A three hour end-of-semester examination (80%) and class assignments not exceeding 3,000 words (20%).