ETC4110 Actuarial practice 1
Faculty of Business and Economics
ETC4110 Actuarial practice 1 is a level 4, 6-credit-point, undergraduate and postgraduate unit from the Faculty of Business and Economics, offered in 2023 in Semester 1 at Clayton. It needs ETC5353 or ETC3530.
- Credit points
- 6
- Offered in 2023
- Semester 1
- Clayton
- Assessment
- Exam 60%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2023 handbook entry. See the 2027 entry.
Reviews
No reviews yetNo reviews yet. Be the first to review ETC4110.
Requisites
Before ETC4110
Prerequisites
Pass these before you enrol.
After ETC4110
No unit lists ETC4110 as a prerequisite in the 2023 handbook.
Enrolment rules
You must be enrolled in course B3701 or B6014 to undertake this unit.
Overview
This unit covers the subject material required for Actuaries Institute subject Part IIA The Actuarial Control Cycle. You'll be introduced to the concept of the Actuarial Control Cycle and how it can be applied in practical commercial situations in a wide range of insurance and related applications. This covers life insurance, general insurance, health insurance, pension or superannuation funds and investment issues. The unit also develops your understanding of a wide range of commercial background matters in insurance, pensions and investment - covering features of financial products, the related business environment in Australia, and Government policies affecting insurance and related industries. Risk management is introduced both in terms of the risk issues involved in offering insurance and related financial products, and the general concepts of Enterprise Risk Management.
Offerings in 2023
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Clayton | Evening |
Assessment
- Within semester assessment40%
- ExaminationThreshold hurdle60%
Learning outcomes
When you finish this unit, you should be able to:
- 1
discuss and apply an actuarial control cycle in a variety of practical commercial situations
- 2
apply the tests of professionalism
- 3
examine the need for and impact of regulation and government policy on medium and long term commercial decisions
- 4
analyse the main features and risks of financial products and contracts, from the point of view of consumers and providers
- 5
demonstrate an understanding of enterprise risk management and its role in organisational management
- 6
apply a risk assessment framework to identify and assess the risks in a range of commercial situations.
Workload and teaching
- Workshops55 hours
- Teaching approachProfessional placement
- 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 provides you with opportunities to engage in professional settings relevant to your practitioner field.
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.
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.
Contacts
- Chief Examiners
- Associate Professor Andrew Matthews
Common questions
What are the prerequisites for ETC4110?
You need ETC5353 or ETC3530 before you enrol. Enrolment rules also apply.
When is ETC4110 offered?
In 2023, ETC4110 runs in Semester 1 at Clayton.
How much work is ETC4110?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ETC4110 have an exam?
Yes. The exam is worth 60% of the final mark, alongside 1 other task.