Survival models will be used to estimate decrement rates from actual experience, compare these with standard rates, and prepare new tables. In constructing new tables, consideration will be given to risk factors; selection; data collection; graduation; and testing the graduation. The concept of actuarial modelling will be discussed. The 'actuarial control cycle', a conceptual framework of the processes for developing and managing financial enterprises and products, will be introduced. Students gaining a grade of credit or higher in this unit and ACST818 may apply for exemption from subject CT4 of the professional exams of the Institute of Actuaries of Australia. -- Course Website
Instructor: Actuarial staff
Prerequisites: STAT810
