Handbook 1996 : Faculty of Economics and Commerce (Volume 3 page 193)
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Year 3 Actuarial Studies.
Credit points: 12.5
Coordinator: Mr Des Welch
Prerequisite: 619-202 Theory of Statistics
Contact: Two one-and-a-half-hour lectures and a one-hour tutorial per week
Timetable: Second semester
Objectives:
At the end of this subject, students should be able to:
- describe how to collect data in a form suitable for examining past experience;
- calculate the exposure to risk using census methods and exact exposure methods, and derive crude decrement rates for a single decrement model by age and duration;
- describe and apply the principle methods available for graduating experience rates, and the considerations to be taken into account in selecting a method;
- discuss the variation of mortality with regard to social, economic or regional factors and the use of standardised mortality ratios for describing such variations;
- describe the principle forms of heterogeneity within a population with regard to mortality and sickness and the ways in which selection can occur;
- discuss the need for risk classification and the use of different factors to classify risks; and
- demonstrate how to use a multiple state or a multiple decrement model to describe the evolution of a population subject to more than one decremental factor, both in discrete and continuous form and with or without independence between the factors.
Content:
The analysis of mortality and other decremental statistics including continuous and census exposed-to-risk formulae; select rates; the derivation and use of multiple decrement tables and sickness rates; techniques of graduation; construction of recent standard life tables. The course will also include some related demographic topics.
Assessment:
A 3-hour end-of-semester examination (80%), a mid-semester test (10%), and one major assignment(10%).
Prescribed texts:
Actuarial Studies subject : Next:300-304 | Prev:300-203 | Search | Help
Handbook 1996 : Faculty of Economics and Commerce (Volume 3 page 193)
Status: Official 1996 Date created: Oct 9 1995 Last modified: Oct 9 1995 Authorised by: Academic Registrar Email enquiries: Course_Information@registrar.unimelb.edu.au
Maintained by: Dept. of Actuarial Studies, Faculty of Economics and Commerce.
Copyright © University of Melbourne 1995,1996.