Module code: MA7405
Life assurances and annuities are the products that actuaries traditionally work with. Mortality models are important as they form the basis for the pricing of these contracts. In this module we will build on such mortality models by studying how pensions and assurances can be described mathematically. It combines the annuity notation from CT1 with the concepts of mortality from CT4 to develop some further useful actuarial notation. This module will also develop the idea of joint-life contracts and the methods of product pricing and profit testing.
- 30 hours of lectures
- 10 hours of practical classes and workshops
- 110 hours of guided independent study
- Exam, 2 hours (70%)
- Project (30%)