ETC2430 Actuarial Statistics (Sem 1 2024)
Difficulty:
Year Completed: Semester 1, 2024
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: 76.83%
Clarity of Learning Outcomes: 82%
Clarity of Assessments: 74%
Feedback: 71%
Resources: 73%
Engagement: 87%
Satisfaction: 74%
Subject Content:
Lecture(s) and Tutorial(s):
Textbook(s):
Assessments:
Understand the time value of money and interest, discount and inflation rates.
Calculate present value and discounted value of cash-flow streams at different dates and different frequencies.
Apply techniques in the valuation of financial transactions with deterministic cash-flows.
Develop extensions using life tables for the valuation of basic life insurance policies with stochastic cash-flows.
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.
Individual Assignment - 20%
Tutorial Presentation - 10%
Weekly Quizzes - 10%
Final Exam - 60%
Comments
The unit was well-structured and enjoyable unit, which had a heavy focus on algebraic skills using the formulas provided to calculate the time value of money. Abundant practice and revision resources were made available.
The lectures were extremely helpful as the lecturer would go through the key concepts and provide you with the formulas, followed by an example on how to apply this. The lectures also had a couple of slides at the end to summarise everything learnt in that period, this was definitely helpful come revision time. The lectures were held in person, recorded and uploaded to Moodle.
Tutorial attendance was not necessary. However, on the week you are allocated to do your tutorial presentation, attendance is necessary to be able to achieve the 10%. Overall, I found it helpful to attend the tutorials as the TA was able to help us with step by step working out for these difficult math problems.
The weekly quizzes were achievable given you were up to date with the content and were based on the lecture taught that week. The tutorial presentation required some preparation of Powerpoint slides and working with a partner to deliver solutions to the tutorial question and research on the industry question. The individual assignment was primarily on excel with a small written report based on the topic given. 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: