This unit covers the advanced analysis of cash flows dependent on uncertain events. Multiple decrement and multiple state models are considered, and the valuation of benefits and contributions under superannuation plans is examined. Techniques for the valuation of annuity and assurance products involving two lives are developed. Expected cash flow models and profit test models are developed for life insurance products including traditional products and unbundled unit linked contracts. The concepts of pricing and reserving for future contingent liabilities, and the effect of the pricing and reserving basis on the emergence of profit, are considered. Students gaining a grade of credit or... -- Course Website
Instructor: Actuarial staff
Prerequisites: ACST354(P) or ACST358(P)