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Contingencies I - MAN00051H

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  • Department: The York Management School
  • Module co-ordinator: Dr. Alexandra Da Costa Dias
  • Credit value: 10 credits
  • Credit level: H
  • Academic year of delivery: 2020-21
    • See module specification for other years: 2019-20

Module summary

The module aims to provide a grounding in the traditional mathematical techniques which can be used to model and value cash flows dependent on death, survival, or other risks.

The module provides further opportunities for students to improve their analytical skills through rigorous mathematical reasoning.

Professional requirements

Institute and Faculty of Actuaries. Part of Subject CM1: Actuarial Mathematics

Module will run

Occurrence Teaching cycle
A Autumn Term 2020-21

Module aims

The module aims to provide a grounding in the traditional mathematical techniques which can be used to model and value cash flows dependent on death, survival, or other risks.

The module provides further opportunities for students to improve their analytical skills through rigorous mathematical reasoning.

Module learning outcomes

After successful completion the student is able to:

 

Subject content

  • Define and calculate assurance and annuity contracts, and obtain means and variances of present values under such;
  • Describe and calculate net premiums and net premium reserves of insurance contracts;
  • Describe and calculate gross premiums and reserves of assurance and annuity contracts;

 

Academic and graduate skills

  • present analyses of several risks on cash flows in a logical, rigorous, and concise way;
  • strict logical reasoning from assumptions to conclusion;
  • critically assess assumptions necessary to draw certain conclusions.

Module content

Introduction to life insurance; Life tables; Insurance benefits and annuities; Premium calculation; Policy values.

Assessment

Task Length % of module mark
Essay/coursework
Contingencies I Case Study		 N/A 15
University - closed examination
Contingencies I		 2 hours 85

Special assessment rules

None

Reassessment

Task Length % of module mark
University - closed examination
Reassessment Exam		 2 hours 100

Module feedback

Students will receive feedback within one week of the hand-in problem sets. The feedback will be handed to students personally and takes the form of comments and suggestions for improvement written on the handed in work.

Indicative reading

. Dickson, D.C.M., Hardy, M., and Waters, H.R. (2013). Actuarial mathematics for life contingent risks. 2nd edition. Cambridge, UK: Cambridge University Press.;


The information on this page is indicative of the module that is currently on offer. The University is constantly exploring ways to enhance and improve its degree programmes and therefore reserves the right to make variations to the content and method of delivery of modules, and to discontinue modules, if such action is reasonably considered to be necessary by the University. Where appropriate, the University will notify and consult with affected students in advance about any changes that are required in line with the University's policy on the Approval of Modifications to Existing Taught Programmes of Study.

Coronavirus (COVID-19): changes to courses

The 2020/21 academic year will start in September. We aim to deliver as much face-to-face teaching as we can, supported by high quality online alternatives where we must.

Find details of the measures we're planning to protect our community.

Course changes for new students