The aim of the Actuarial Control Cycle 1 and 2 is to provide students with an understanding of how the underlying actuarial principles can be applied to a range of problems and issues in commercial and business environments. The Actuarial Control Cycle forms a 'bridge' between Part I, where students learn specific technical skills in a well-defined environment, and Part II, where students are taught to apply these skills in less well-defined business and commercial environments. During Part II accreditation with the Actuaries Institute, students are expected to develop a holistic approach to practical problem solving, and develop a level of judgement and professional skills required to successfully apply actuarial principles to real-world problems. The Actuarial Control Cycle demonstrates a holistic approach to understanding how actuarial principles relate to actuarial practice in the financial services and other industries. It is presented in general terms to highlight its application beyond financial services. Examples will be drawn from traditional and non-traditional areas to illustrate and establish the underlying actuarial principles in a problem-based learning approach, using case studies and business-based examples.
|Faculty||Bond Business School|
|Study abroad||Available to Study Abroad students|
1. Review of Actuarial Control Cycle I
2. Choice of data and assumptions
3. Recognise the importance of Capital
4. Apply relevant approaches and techniques to the valuation of liabilities
5. Apply appropriate techniques to the pricing of products and contracts
6. Measure, report and manage solvency
7. Monitor and assess experience
8. Manage the business and respond to the experience.
Admission into BN-10031 - Bachelor of Actuarial Science (Honours) OR Admission into BN-13120 - Master of Actuarial Practice
ACSC71-301 - Contingencies OR ACSC13-301 - Contingencies
ACSC71-302 - Advanced Modelling OR ACSC13-302 - Advanced Modelling