| Type: | Undergraduate Subject |
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| Code: | ACSC13-301 |
| EFTSL: | 0.125 |
| Faculty: | Bond Business School |
| Semesters offered: |
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| Credit: | 10 |
| Study areas: |
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| Subject fees: |
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Description
This subject is designed to develop mathematical techniques which are used to model and value cash flows that are dependent on events such as death, survival, illness and retirement. The breadth of topics covered provides students with the principles and practical skills required for a variety of life insurance applications, including pricing of life Insurance, assurance and annuities, reserving, assessment of profitability and defined benefit pensions.
Subject details
Learning outcomes
- Demonstrate knowledge of simple assurance and annuity contracts, and develop formulae for the means and variances of the present values of the payments under these contracts, assuming constant deterministic interest.
- Compute net premiums and net premium reserves, using ultimate or select mortality, for simple insurance contracts, increasing and decreasing benefits and annuities.
- Calculate gross premiums and reserves of assurance and annuity contracts.
- Apply appropriate methods to value or project cash flows that are contingent upon multiple transition or decrement events.
- Apply projected cash flow techniques for pricing, reserving, and assessing profitability.
- Demonstrate the ability to produce a written report that communicates ideas clearly, cogently and thoroughly communicates, using a professional style and format.
Enrolment requirements
| Requisites: |
Pre-requisites:Co-requisites:There are no co-requisites |
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| Assumed knowledge: |
Assumed knowledge is the minimum level of knowledge of a subject area that students are assumed to have acquired through previous study. It is the responsibility of students to ensure they meet the assumed knowledge expectations of the subject. Students who do not possess this prior knowledge are strongly recommended against enrolling and do so at their own risk. No concessions will be made for students’ lack of prior knowledge. Possess demonstratable knowledge of introductory Finance to the level of a unit such as Fundamentals of Finance. |
| Restrictions: |
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Subject outlines
- January 2025 [Standard - Contingencies]
- May 2024 [Standard - Contingencies]
- January 2024 [Standard - Contingencies]
- May 2023 [Standard - Contingencies]
- May 2022 [Standard - Contingencies]
- May 2021 [Standard - Contingencies]
- May 2020 [Standard - Contingencies]
- May 2019 [Standard - Contingencies]
- May 2018 [Standard - Contingencies]
- May 2017 [Standard - Contingencies]
Subject dates
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January 2024
Standard Offering Enrolment opens: 12/11/2023 Semester start: 15/01/2024 Subject start: 15/01/2024 Cancellation 1: 29/01/2024 Cancellation 2: 05/02/2024 Last enrolment: 28/01/2024 Withdraw - Financial: 10/02/2024 Withdraw - Academic: 02/03/2024 Teaching census: 09/02/2024 -
January 2024
Non Standard Offering (Admin only) Enrolment opens: 12/11/2023 Semester start: 15/01/2024 Subject start: 15/01/2024 Cancellation 1: 29/01/2024 Cancellation 2: 05/02/2024 Last enrolment: 19/02/2024 Withdraw - Financial: 10/02/2024 Withdraw - Academic: 02/03/2024 Teaching census: 04/03/2024 -
May 2024
Standard Offering Enrolment opens: 17/03/2024 Semester start: 13/05/2024 Subject start: 13/05/2024 Cancellation 1: 27/05/2024 Cancellation 2: 03/06/2024 Last enrolment: 26/05/2024 Withdraw - Financial: 08/06/2024 Withdraw - Academic: 29/06/2024 Teaching census: 07/06/2024 -
January 2025
Standard Offering Enrolment opens: 10/11/2024 Semester start: 20/01/2025 Subject start: 20/01/2025 Cancellation 1: 03/02/2025 Cancellation 2: 10/02/2025 Last enrolment: 02/02/2025 Withdraw - Financial: 15/02/2025 Withdraw - Academic: 08/03/2025 Teaching census: 14/02/2025
| Standard Offering | |
|---|---|
| Enrolment opens: | 12/11/2023 |
| Semester start: | 15/01/2024 |
| Subject start: | 15/01/2024 |
| Cancellation 1: | 29/01/2024 |
| Cancellation 2: | 05/02/2024 |
| Last enrolment: | 28/01/2024 |
| Withdraw - Financial: | 10/02/2024 |
| Withdraw - Academic: | 02/03/2024 |
| Teaching census: | 09/02/2024 |
| Non Standard Offering (Admin only) | |
|---|---|
| Enrolment opens: | 12/11/2023 |
| Semester start: | 15/01/2024 |
| Subject start: | 15/01/2024 |
| Cancellation 1: | 29/01/2024 |
| Cancellation 2: | 05/02/2024 |
| Last enrolment: | 19/02/2024 |
| Withdraw - Financial: | 10/02/2024 |
| Withdraw - Academic: | 02/03/2024 |
| Teaching census: | 04/03/2024 |
| Standard Offering | |
|---|---|
| Enrolment opens: | 17/03/2024 |
| Semester start: | 13/05/2024 |
| Subject start: | 13/05/2024 |
| Cancellation 1: | 27/05/2024 |
| Cancellation 2: | 03/06/2024 |
| Last enrolment: | 26/05/2024 |
| Withdraw - Financial: | 08/06/2024 |
| Withdraw - Academic: | 29/06/2024 |
| Teaching census: | 07/06/2024 |
| Standard Offering | |
|---|---|
| Enrolment opens: | 10/11/2024 |
| Semester start: | 20/01/2025 |
| Subject start: | 20/01/2025 |
| Cancellation 1: | 03/02/2025 |
| Cancellation 2: | 10/02/2025 |
| Last enrolment: | 02/02/2025 |
| Withdraw - Financial: | 15/02/2025 |
| Withdraw - Academic: | 08/03/2025 |
| Teaching census: | 14/02/2025 |