ETC5342 Applied insurance methods
Faculty of Business and Economics
ETC5342 Applied insurance methods is a level 5, 6-credit-point, postgraduate unit from the Faculty of Business and Economics, offered in 2024 in Semester 2 at Clayton. It needs (ETC2520 or ETC5252) and (ETC2560 or ETC5256).
- Credit points
- 6
- Offered in 2024
- Semester 2
- Clayton
- Assessment
- Exam 60%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2024 handbook entry. See the 2027 entry.
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Requisites
Before ETC5342
Prerequisites
Pass these before you enrol.
After ETC5342
No unit lists ETC5342 as a prerequisite in the 2024 handbook.
Overview
To provide a further grounding in the mathematics and statistics of short term insurance risk.
Offerings in 2024
| 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
calculate probabilities and moments of loss distributions both with and without limits and risk-sharing arrangements
- 2
construct risk models involving frequency and severity distributions and calculate the moment generating function and the moments for the risk models both with and without simple reinsurance arrangements
- 3
explain the concept of ruin for a risk model
- 4
describe the fundamental concepts of risk rating and apply them to simple experience rating systems
- 5
describe and apply techniques for analysing a delay (or run-of) triangle and projecting the ultimate position
- 6
critically analyse the application of principles underlying econometric analysis.
Workload and teaching
- Seminars24 hours
- Tutorials18 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.
Contacts
- Chief Examiners
- Associate Professor Dan Zhu
Common questions
What are the prerequisites for ETC5342?
You need (ETC2520 or ETC5252) and (ETC2560 or ETC5256) before you enrol.
When is ETC5342 offered?
In 2024, ETC5342 runs in Semester 2 at Clayton.
How much work is ETC5342?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ETC5342 have an exam?
Yes. The exam is worth 60% of the final mark, alongside 1 other task.