BEX4120 Actuarial practice 2
Faculty of Business and Economics
BEX4120 Actuarial practice 2 is a level 4, 0-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2023 in Semester 2 at Clayton. It has no prerequisites.
- Credit points
- 0
- Offered in 2023
- Semester 2
- Clayton
- Assessment
- Exam 60%
- and 1 other task
- Workload
- 144 hours
- per semester
The 2027 handbook has no page for BEX4120. This is its 2023 entry, the latest one.
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Requisites
Before BEX4120
No prerequisites or corequisites besides the enrolment rules below.
After BEX4120
No unit lists BEX4120 as a prerequisite in the 2023 handbook.
Enrolment rules
You must be enrolled in course 0029 or 3194 to undertake this unit.
Overview
This unit covers some of the subject material required for Actuaries Institute Part II subject on The Actuarial Control Cycle. You are introduced to applications of the Actuarial Control Cycle in a wide range of insurance and related areas, including life insurance, general insurance, health insurance, pension or superannuation funds and investment. This includes the use of data and models in solving actuarial problems. Key concepts are explored in prudent financial management of products, including appropriate management and valuation of capital and liabilities and costs, to provide good insight on solvency and profitability of particular financial and insurance products. You will also learn about applying the control cycle to product design and pricing, as well as monitoring experience and modifying design.
Offerings in 2023
| Teaching period | Campus | Mode |
|---|---|---|
| Second semester | Clayton | On campus |
Assessment
- Within semester assessment40%
- Examination60%
Learning outcomes
When you finish this unit, you should be able to:
- 1
discuss and apply the process of product design
- 2
select an appropriate model to solve client problems
- 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
measure and report emerging profits and/or costs
- 8
monitor and assess experience
- 9
manage the business and respond to the experience.
Workload and teaching
- Seminars36 hours
- Workshops36 hours
- Teaching approachProblem-based learning
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.
This unit includes problem-based learning approaches, where you engage in research, integrate theory and practice and apply knowledge and skills to develop viable solutions in response to a problem or set of problems.
Contacts
- Chief Examiners
- Associate Professor Andrew Matthews
Common questions
What are the prerequisites for BEX4120?
BEX4120 has no prerequisites, but enrolment rules apply.
When is BEX4120 offered?
In 2023, BEX4120 runs in Semester 2 at Clayton.
How much work is BEX4120?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does BEX4120 have an exam?
Yes. The exam is worth 60% of the final mark, alongside 1 other task.