ETC3530 Life insurance mathematics
Faculty of Business and Economics
ETC3530 Life insurance mathematics is a level 3, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2025 in Semester 2 at Clayton. It needs ETC2430 and unlocks 2 units.
- Credit points
- 6
- Offered in 2025
- Semester 2
- Clayton
- Assessment
- Exam 60%
- and 2 other tasks
- Workload
- 144 hours
- per semester
This is the 2025 handbook entry. See the 2027 entry.
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Requisites
Before ETC3530
Prerequisites
Pass these before you enrol.
After ETC3530
2 units list ETC3530 as a prerequisite or corequisite.
Enrolment rules
To be successful in this unit, background knowledge and application of maths is required at the equivalent of VCE Year 12 Higher level. You may have satisfied this by completing relevant prerequisite unit/s, or you have covered relevant topics in your final years of secondary study. You should self-assess your maths competency prior to enrolling in this unit.
Equivalent units
The same content under another code. Only one of them counts.
Overview
This unit covers: valuation of cash flows contingent on death or survival using mortality tables, insurance policies with constant or variable benefit, and with-profits contracts. Also covered are pricing assessments and reserving calculations for various insurance and pension products, involving one or two lives, and subject to multiple competing risks (e.g. withdrawal, sickness). Practical issues such as guarantees and options, as well as the effects of the pricing and reserving basis on the emergence of profit, will also be addressed.
Offerings in 2025
| Teaching period | Campus | Mode |
|---|---|---|
| Second semester | Clayton | On campus |
Assessment
- Quiz / Test20%
- Project20%
- Examination60%
Learning outcomes
When you finish this unit, you should be able to:
- 1
calculate, using ultimate or select mortality, net premiums and net premium reserves for increasing and decreasing benefits and annuities
- 2
develop techniques for the valuation of annuity and assurance products involving two lives, and the use of actuarial functions in that situation
- 3
develop methods which can be used to model cash flows contingent upon competing risks
- 4
use the technique of discounted emerging costs as used in profit tests, pricing assessments and reserving calculations for various insurance and pension products
- 5
address practical issues such as guarantees and options, risk classification and the effects of the pricing and reserving basis on the emergence of profit.
Workload and teaching
- Seminars24 hours
- Tutorials12 hours
- Workshops12 hours
- Teaching approachActive 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. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.
This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.
Learning resources
Technology resources
There may be an additional cost associated with purchasing a physical and/or virtual calculator. Specific details will be provided in the Learning Management System by commencement of Orientation week.
Where it fits
ETC3530 is part of 3 areas of study in the 2025 handbook.
Contacts
- Chief Examiners
- Professor Athanasios Pantelous
Common questions
What are the prerequisites for ETC3530?
You need ETC2430 before you enrol. Enrolment rules also apply.
What can I take after ETC3530?
ETC3530 is a prerequisite or corequisite for 2 units, including ETC4110 and ETC4120.
When is ETC3530 offered?
In 2025, ETC3530 runs in Semester 2 at Clayton.
How much work is ETC3530?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ETC3530 have an exam?
Yes. The exam is worth 60% of the final mark, alongside 2 other tasks.
Which majors and minors include ETC3530?
ETC3530 is part of Actuarial studies; and Financial and insurance mathematics.