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Contingencies - MAN00064H

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  • Department: The York Management School
  • Module co-ordinator: Dr. Alexandra Da Costa Dias
  • Credit value: 20 credits
  • Credit level: H
  • Academic year of delivery: 2024-25
    • See module specification for other years: 2023-24

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 period
A Semester 2 2024-25

Module aims

The module aims to provide a grounding in modern actuarial models, theory and methods for life contingencies, focussing on the principles of modelling and valuing cash flows dependent on death, survival or other life contingent 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 assurance and annuity benefits, derive expressions for and calculate means and variances of present values under such contracts;

• Derive and calculate net premiums and net premium reserves of insurance contracts;

• Derive and calculate gross premiums and reserves of assurance and annuity contracts;

• Define actuarial functions involving two lives and value related cashflows;

• Value cashflows contingent upon multiple events using multiple state models;

• Project contingent future cashflows for various products.

Academic and graduate skills

  • Present analyses in a logical, rigorous and concise way

  • Perform and demonstrate logical reasoning from assumptions to conclusion

  • Critically assess the assumptions underlying analyses and conclusions

Module content

Syllabus:

  • Assurance benefit contracts

  • Life annuities

  • Contracts with benefits contingent on several causes

  • Multiple-life benefits

  • Pricing

  • Policy values

Assessment

Task Length % of module mark
Closed/in-person Exam (Centrally scheduled)
Contingencies		 N/A 70
Essay/coursework
Essay Case study 2000 words		 N/A 30

Special assessment rules

None

Reassessment

Task Length % of module mark
Closed/in-person Exam (Centrally scheduled)
Contingencies Closed exam : Contingencies I Closed exam		 N/A 70
Essay/coursework
Case study		 N/A 30

Module feedback

Feedback will be given in accordance with the University Policy on feedback in the Guide to Assessment as well as in line with the School policy. A feed forward feedback on the overall cohort performance in the exam can be provided

Indicative reading

Dickson, D.C.M., Hardy, M., and Waters, H.R. (2020). Actuarial mathematics for life contingent risks. 3rd 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.