Actuarial Models and Statistics

UNSW Sydney

Course Description

  • Course Name

    Actuarial Models and Statistics

  • Host University

    UNSW Sydney

  • Location

    Sydney, Australia

  • Area of Study

    Business, Business Administration, Business Management, Management Science, Mathematics, Statistics

  • Language Level

    Taught In English

  • Prerequisites

    (ACTL2131 or MATH2901) and (ACTL2102 or school approval)

  • Course Level Recommendations

    Upper

    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • Credit Points

    6
  • Recommended U.S. Semester Credits
    3 - 4
  • Recommended U.S. Quarter Units
    4 - 6
  • Overview

    This course covers survival models, their estimation and application to mortality and other decrements. Specific topics include: the concept of a survival model and actuarial notation; estimation of lifetime distributions; multiple state models; maximum likelihood estimation of transition intensities; construction of multiple decrement tables; the binomial model of mortality and its estimation; models with transition intensities depending on age and duration; the census approximation and formulae; statistical comparison of crude rates with standard table; graduation of crude estimates and tests of fidelity and smoothness; analysis of mortality/morbidity and the main forms of selection; models for projection of populations. The analysis of data using numerical computer packages developed during the course will form part of the course assessment.

Course Disclaimer

Courses and course hours of instruction are subject to change.

Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.