Course Code:
SGS 801
No. of Credits:
3
Level:
Level 900
Course Semester:
First Semester
Select Programme(s):
Statistics
Preparation and testing of graduations of mortality tables; graduation by the moving-weighted average, graphic, Whittaker, Bayesian parametric and smooth-junction interpolation methods; use of statistical methods for graduation.
Course Code:
ACT 406
No. of Credits:
3
Level:
Level 400
Course Semester:
Second Semester
Pre-requisite:
ACT 302 & ACT 304
Select Programme(s):
Actuarial Science
Economics of Insurance. Nature of General Insurance. Legislation of Insurance Companies.Documentation and date collection.
Risk premium, expenses and office premium. Experience rating, reinsurance, technical reserves, solvency and analyses of profit.
Course Code:
ACT 405
No. of Credits:
3
Level:
Level 400
Course Semester:
Second Semester
Pre-requisite:
ACT 302
Select Programme(s):
Actuarial Science
The Structure of pension schemes and their problems – retirement benefits, invalidity and survivor’s benefits. Pensioners and social assistance benefits.
Financing pension systems (Defined Benefits and Defined Contributions). Valuation of the pension schemes.
Course Code:
ACT 404
No. of Credits:
3
Level:
Level 400
Course Semester:
Second Semester
Pre-requisite:
ACT 304
Select Programme(s):
Actuarial Science
Conventional and adjusted measures of mortality, measures of fertility, measures of morbidity. Demographic characteristics and trends of selected countries.
Evaluation of demographic data. Projections for stable and stationary populations. Actuarial applications of demographic characteristics and trends.
Course Code:
ACT 403
No. of Credits:
3
Level:
Level 400
Course Semester:
First Semester
Pre-requisite:
STA 301 & STA 303
Select Programme(s):
Actuarial Science
Distributions useful for modeling insurance loss random variables. Approximations for and estimations of these loss distributions. Point and interval estimation, and test of statistical hypotheses.
Introduction to credibility theory, experience rating and claim reserving. Bayesian inferential techniques. Stochastic simulation and computational techniques.
Course Code:
ACT 402
No. of Credits:
3
Level:
Level 400
Course Semester:
First Semester
Pre-requisite:
STA 402 & ACT 302
Select Programme(s):
Actuarial Science
Tabular Survival Models – Estimates from complete data samples, Estimates from incomplete data samples (sample design, moments procedures, maximum likelihood procedures). Parametric Survival Models.
Course Code:
ACT 401
No. of Credits:
3
Level:
Level 400
Course Semester:
First Semester
Pre-requisite:
STA 301 & ACT 301
Select Programme(s):
Actuarial Science
Net Premiums – Whole Life and Term Insurance, Endowments, Deferred Life Annuities, Premiums Paid m Times a Year, Policies with Premium Refund.
Net Premium Reserves – The Survival Risk, Net Reserve Premium for Whole Life, Net Premiums Reserve at Fractional Duration, Allocation of the Overall Loss to Policy Years,
Technical Gain, Procedure for Endowment and The Continuous Model. Multiple Decrements – An Introduction. Multiple Life Insurance.
Course Code:
ACT 304
No. of Credits:
3
Level:
Level 300
Course Semester:
Second Semester
Pre-requisite:
ACT 301
Select Programme(s):
Actuarial Science
Basic Mathematics of Life Contingencies, Effective and Nominal interest rates. The Future Lifetime of a Life Aged x (T) – Model, Force of Mortality, Analytic Distribution of T,
Curtate Future Lifetime of x, Life Tables, Probabilities of Death for Fractions of a Year.
Life Insurance – Whole Life and Term Insurances, Endowment, Insurance Payable at the Moment of Death, General Type of Life Insurance and Variable Life Insurance.
Life Annuities – Elementary, Payment made more Frequently than Once a Year, Variable Life Annuities, Standard Type of Life Annuities, Payment Starting at Non-integral Ages
Course Code:
ACT 301
No. of Credits:
3
Level:
Level 300
Course Semester:
First Semester
Pre-requisite:
MAT 202 & MAT 203
Select Programme(s):
Actuarial Science
Yield curves, spot rates, forward rates, duration, convexity, and immunization. Derivatives, forwards, futures, short and long positions, cal and put options, spread, collars, hedging, arbitrage, and swaps.
Course Code:
ACT 214
No. of Credits:
3
Level:
Level 200
Course Semester:
Second Semester
Pre-requisite:
MAT 102
Select Programme(s):
Actuarial Science