This course develops the basic actuarial techniques that are used in later work. Topics covered include: principal forms of heterogeneity within a population and the ways in which selection can occur; definition of simple assurance and annuity contracts; development of formulae for the means and variances of the present values of the payments under these contracts, assuming deterministic interest; practical methods of evaluating expected values and variances of simple insurance and annuity contracts; description and calculation, using ultimate or select mortality, of net premiums and net premium provisions for simple insurance contracts; and the calculation of gross premiums and provisions of assurance and annuity contracts.

• Mid semester exam 30%
• Final exam 70%

Three contact hours per week.

STAT2001 Introductory Mathematical Statistics and STAT2032 Financial Mathematics

See Course Website:  http://ecocomm.anu.edu.au/courses/course.asp?code=STAT3037

For further information please refer to http://ecocomm.anu.edu.au/courses/course.asp?code=STAT3037