Aims and Fit of Module

This module is a continuous course of Life Insurance Mathematics I. Students are able to evaluate reserves, calculate retirement benefits and carry out pension plans. Students are also required to understand multiple decrements models and interest rate risk.

Learning outcomes

A. Construct multiple state models

B. Analyse and evaluate insurance product involving two lives

C. Apply pension mathematical models to price the product

D. Compare and comply profit testing method in traditional life insurance

E. Examine and implement profit testing method in modern life insurance

F. Explain the principal forms of heterogeneity within a population and evaluate the methods of analyzing data for heterogeneity

G.Describe and interpret the principles of actuarial modelling

Method of teaching and learning

This module is delivered through formal lectures and tutorial classes