ETC4120 Actuarial practice 2
Faculty of Business and Economics
ETC4120 Actuarial practice 2 is a level 4, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2021 in Semester 2 at Clayton. It needs ETC3530 or ETC5353.
- Credit points
- 6
- Offered in 2021
- Semester 2
- Clayton
- Assessment
- Exam 60%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2021 handbook entry. See the 2027 entry.
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Requisites
Before ETC4120
Prerequisites
Pass these before you enrol.
After ETC4120
No unit lists ETC4120 as a prerequisite in the 2021 handbook.
Enrolment rules
You must be enrolled in course B3701 or B6014 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 2021
| Teaching period | Campus | Mode |
|---|---|---|
| Second semester | Clayton | On campus |
Assessment
- Within semester assessment40%
- ExaminationThreshold hurdle60%
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
- Workshops36 hours
- Lectures36 hours
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.
Contacts
- Chief Examiners
- Associate Professor Andrew Matthews
Common questions
What are the prerequisites for ETC4120?
You need ETC3530 or ETC5353 before you enrol. Enrolment rules also apply.
When is ETC4120 offered?
In 2021, ETC4120 runs in Semester 2 at Clayton.
How much work is ETC4120?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ETC4120 have an exam?
Yes. The exam is worth 60% of the final mark, alongside 1 other task.