300-101 Introduction to Actuarial Studies

Students who have completed a level-2 actuarial studies subject will not normally be permitted to enrol in this subject.

620-121 Mathematics A (Advanced) or 620-141 Mathematics A.

This subject is an introduction to compound interest functions and operations; valuation of annuities, bonds and loans; demography, and factors affecting population growth and size; construction and use of the life table; applications of these in life insurance; types of insurance products; the role of the actuary; and the significance of financial institutions utilising actuarial management.

• High level of development: problem solving; synthesis of data and other information.

A 2-hour end-of-semester examination (70%), two assignments totalling not more than 2000 words (20%), and a 45 minute mid-semester examination (10%). Satisfactory completion of this subject requires a 50% pass in the end of semester examination.