ETC2430 Actuarial Statistics (Sem 1 2023)
Difficulty:
Year Completed: Semester 1, 2023
Prerequisite: ETC1000
(or STA1010, or SCI1020, or ETF1100, or ETW1001, or ETB1100, or FIT1006, or ETX1100)
Exemption:
CM1 Actuarial Mathematics
ETC2430 (45%), ETC3530 (55%)
Weighted average of 70% required. Minimum of 60% required for each unit.
Mean Setu Score: 85%
Clarity of Learning Outcomes: 100%
Clarity of Assessments: 81.25%
Feedback: 73.33%
Resources: 86.67%
Engagement: 93.75%
Satisfaction: 75.00%
Subject Content:
Lecture(s) and Tutorial(s):
Textbook(s):
Assessments:
The following topics were covered:
1. The Time Value of Money
2. Interest Rates
3. Valuation of Cash Flow Streams
4. Annuities
5. Equation of Value
6. Equity, Bonds and Property
7.Term Structure of Interest Rates
8. Life Tables
9. Products contingent on life: Assurances and Annuities.
1 x 2 hour lecture
1 x 1.5 hour tutorial
No textbook was recommended or utilized for this unit; however, supplementary readings were provided each week.
Assignment - 20%
Tutorial Presentation - 10%
Weekly Quizzes - 10%
Final Exam - 60% (45% hurdle requirement)
Comments
The unit was well-structured and featured two different lecturers, which required some adjustment. Abundant practice and revision resources were made available.
Lectures played a vital role in this unit due to its math-intensive content, as understanding solely from the slides could be challenging. Overall, the lectures were interactive and well-delivered
Attendance at tutorials was not compulsory, but they proved highly beneficial as they covered tutorial questions. While not mandatory, preparing for tutorials can be helpful.
The tutorial presentations typically centered on a single topic, while the weekly quizzes assessed the content from the prior week. The Excel assignment was a self-contained task, accompanied by comprehensive explanations and illustrative examples. Overall, the assignment instructions were meticulously detailed and thoughtfully structured, providing a clear pathway to achieving strong performance.
The exam was divided into 6 questions, each with at least 2 sub-questions. The first 3 questions covered the content of weeks 1-6, while the last 3 covered the material taught by the second lecturer in the later weeks. Students were allowed to use a double-sided A4 sheet of notes during the exam, and they could also use R or Excel for questions that required complex calculations. However, the time constraint made it challenging to fully attempt all the questions.
The unit is well-structured and delivered with plenty of resources available for students. Therefore, it is highly recommend to make a concerted effort to attend all lectures and dedicate extra time and effort to the assignments, as they provide an excellent opportunity to secure full marks.
General Overview:
Lectures:
Tutorials:
Assessments/Other Assessments:
Exams:
Concluding Remarks: