| The degree of Bachelor of Science in Actuarial
Science is an undergraduate degree, awarded for the
satisfactory completion of a prescribed course of
specialist training in actuarial science. AS 1 In
these Regulations, and in the Syllabuses for the degree
of BSc(ActuarSc), unless the context otherwise requires
¡X
| |
'Course' means a course of instruction
leading to one paper in the Final Examination
Part I, Part II and Part III, as defined in the
syllabus; |
| |
'Paper' means one or more of the following
tests: a theoretical examination paper, a
practical examination paper, a project paper, or
a dissertation, as prescribed in the syllabus of
the course leading to it; |
| |
'Prerequisite' means a course which
candidates must have completed successfully
before being permitted to take the course in
question. |
AS 2 To be eligible for admission to the degree
of Bachelor of Science in Actuarial Science candidates
shall
(a)
|
comply with the General
Regulations; and |
(b)
|
complete the curriculum in
accordance with the regulations that follow. |
AS 3 The curriculum for the degree of Bachelor
of Science in Actuarial Science shall extend over not
less than three academic years, and shall include the
Final Examination Part I, Part II and Part III held
annually, at the end of the first, second and third years
respectively. Candidates shall select courses in
accordance with Regulations AS 6 and AS 9 below.
AS 4 In the Final Examination Part I, Part II
and Part III, an assessment of the candidates' coursework
during the year shall be taken into account in
determining their results in each paper.
AS 5 Candidates who are unable because of
illness to be present for any paper or papers in the
Final Examination Part I and Part II may apply for
permission to present themselves for a supplementary
examination to be held before the beginning of the first
semester of the following academic year. Any such
application shall be made on the form prescribed within
two weeks of the first day of absence from any
examination. Candidates who fail to satisfy the examiners
in one or more papers in such a supplementary examination
shall be considered under the provisions made in these
regulations for failure at the first attempt at the
examination, except that a further supplementary
examination shall not be permitted.
AS 6 To complete the first year of the
curriculum, candidates shall follow seven courses plus
the required English course and satisfy the examiners at
the Final Examination Part I which shall consist of one
paper in each of the courses selected, together with any
coursework, oral and practical tests prescribed in the
syllabus.
AS 7 Candidates in the Final Examination Part I
who have failed to satisfy the examiners in one paper
only other than the prerequisite papers for compulsory
courses to be taken in the second- and third-years of
study, but have achieved in their opinion a sufficiently
high standard in other papers to compensate for that
failure, may be deemed to have satisfied the examiners
but shall not be permitted to select a second- or
third-year course for which the failed paper forms a
prerequisite, unless they are given permission by the
department concerned to sit a qualifying examination in
the failed paper and satisfy the examiners in this.
AS 8
(a)
|
Candidates in the
Final Examination Part I |
| |
(i) |
who have failed to satisfy the
examiners in any one paper and are not deemed to
have satisfied the examiners under the provision
of Regulation AS 7 above, or |
| |
(ii) |
who have failed to satisfy the
examiners in two papers |
| |
may be permitted to
sit a Supplementary Final Examination Part I in
the failed paper(s) held the same year in
August/September. Candidates who fail in one or
more papers at a Supplementary Final Examination
Part I shall be required to repeat the whole
first year of the curriculum. |
(b)
|
Candidates in the
Final Examination Part I who have failed to
satisfy the examiners in three papers shall
either be required to repeat the whole first year
of the curriculum, or be recommended for
discontinuation of studies under the provisions
of General Regulation G 12. |
(c)
|
Candidates in the
Final Examination Part I who have failed to
satisfy the examiners in more than three papers
shall be recommended for discontinuation of
studies under the provisions of General
Regulation G 12. |
(d)
|
In no case may
candidates proceed to the second year of the
curriculum until they have satisfied the
examiners under the provisions of AS 6, AS 7 or
this Regulation. Candidates who have failed to
satisfy the examiners in the Final Examination
Part I after having repeated the first year of
the curriculum shall be recommended for
discontinuation of studies under the provisions
of General Regulation G 12. |
AS 9 To complete the second and third years of
the curriculum, candidates shall follow the equivalent of
sixteen courses and satisfy the examiners at the Final
Examination Parts II and III in the papers for the
compulsory and other selected courses, half of the papers
to be taken at Part II at the end of the second year and
half at Part III at the end of the third year.
AS 10 An alphabetical list shall be published
of candidates successful in the Final Examination Parts I
and II, while the list of candidates successful in the
whole of the Final Examination shall be published in five
divisions: First Class Honours, Second Class Honours
Division One, Second Class Honours Division Two, Third
Class Honours, Pass. The standard attained in each of the
three Parts of the Final Examination shall be taken into
account in determining the candidates' classifications.
AS 11
(a)
|
Candidates who have failed to
satisfy the examiners in the Final Examination
Part II in one or two papers may be allowed to
proceed to the third year of the curriculum and
present themselves for re-examination in the
failed paper(s) together with the papers of Part
III of the Final Examination, except that in the
case of failure in the paper(s) for the elective
course(s), re-examination either in the failed
paper(s) or in new papers may be permitted. |
(b)
|
Candidates who have failed to
satisfy the examiners in the Final Examination
Part II in three or more papers shall either be
required to repeat the second year of the
curriculum, or be recommended for discontinuation
of studies under the provisions of General
Regulation G 12. |
AS 12 Candidates in the Final Examination Part
III who have failed to satisfy the examiners in three or
more papers, including where appropriate the Part II
papers examined or re-examined under the provisions of
Regulation AS 11(a), shall be required either to repeat
the courses for the failed papers and present themselves
for re-examination in the papers when the examination is
next held, or to repeat the final year of the curriculum
and present themselves for re-examination in the whole of
Part III of the Final Examination when the examination is
next held, but in either case shall not be eligible for
honours unless the Senate directs that they shall be so
eligible because of exceptional circumstances. Candidates
who fail to satisfy the examiners in this second attempt
shall be recommended for discontinuation under the
provisions of General Regulation G 12. If they are not
required by the Senate to discontinue their studies and
are permitted to present themselves for a third time,
they shall then in no circumstances be eligible for
honours. Candidates who present themselves for
re-examination in respect of elective courses only may
offer the same papers in which they have failed, or
substitute other papers.
SYLLABUSES FOR THE DEGREE
OF
BACHELOR OF SCIENCE IN ACTUARIAL SCIENCE
GENERAL FEATURES
| 1. |
In the first year of study,
candidates may not take more than four courses in
any semester in addition to course 77100
which is a whole-year course. |
| 2. |
In the curriculum of the second
and third years, some courses offered in the
second semester may require another course
offered in the first semester as a prerequisite.
In such cases, notwithstanding the provisions of
Regulation AS 1, candidates must fulfil the
prerequisite first by having completed the course
in question, on the understanding that they will
take the examination at the end of the year. |
| 3. |
In the first year, the
examination for each course consists of one
two-hour written paper except in 17161 and
23246 which will each have a three-hour
written paper. In the second and third years, all
papers, except 24516 and those in Lists B
and C, will be examined by a three-hour written
paper. The exceptions1
mentioned will have a two-hour paper. The final
grading will be determined by performance in the
examination and assessment of coursework in the
ratio of 75:25, unless otherwise stated. |
First-year Courses
Candidates for the degree of BSc(ActuarSc) shall
follow seven courses in the first year:
| |
17106. Probability and
statistics |
| |
17161. Introduction to
actuarial science |
| |
11001. Introduction to
economics I |
| |
12103. Introduction to
accounting |
| |
23246. Computer
concepts and programming |
| |
24303. Mathematics for
social sciences: course II |
| |
One course selected from List A |
Students are also required to take the English course:
| |
77100. English for academic
communication |
1 Note that 17237,
a course in List C, has a three-hour examination.
Second-year Courses
Candidates shall follow eight courses in
the second year:
Third-year Courses
Candidates shall follow eight courses in
the third year:
COURSE TITLES AND COURSE
DESCRIPTION
Compulsory First-year Courses
17106. Probability and statistics
This course provides the basic foundations
in probability and statistics for students in the
Statistics Stream or BSc(ActuarSc), though the course is
also suitable for mathematically-able students from other
quantitative curricula. Probability theory underpins the
study of statistics. The course aims firstly to develop
skills in probabilistic analysis for problems involving
randomness. Random variables and probability
distributions are studied in depth. The concepts of
statistics are then introduced, guided by motivating
examples.
Prerequisite: Advanced Level Pure
Mathematics or equivalent.
17161. Introduction to actuarial
science
This course introduces the mathematics of
finance which plays an important role in the development
of basic actuarial techniques. Practical applications of
the actuarial functions and notation are considered also.
Key topics include: measurement of interest, including
accumulated and present value factors; annuities certain;
yield rates; amortization schedules and sinking funds;
bonds and related securities; practical applications such
as real estate mortgage, short sales and modern financial
instruments; discounted cash flow; capital gains tax;
stochastic approaches to interest; consumer credit;
capital redemption policies. Assessment: 50% coursework,
50% examination. Examination: One three-hour written
paper.
Prerequisite: 17106.
11001. Introduction to economics I
An introduction to the basic concepts and
principles of economics, with emphasis on the theoretical
framework of choice theory, the nature of constraints,
the measure of value, the laws of demand and
productivity, and the implications for resource use and
employment. Assessment: 40% coursework, 60% examination.
12103. Introduction to accounting
The course will cover the principles of
double entry book-keeping, the interpretation of
financial statements, the issues raised by corporate
regulation, and the use of management information for
decision-making. Assessment: 30% coursework, 70%
examination.
23246. Computer concepts and
programming
This course introduces the basic computing
concepts and the art of computer programming. Contents
include: basic concepts and vocabulary of computers and
information processing; overview of hardware and software
components of computer systems; techniques for the design
and construction of computer programmes; use of C++
language to solve problems over a wide range of
applications. Examination: One three-hour written paper.
24303. Mathematics for social sciences:
course II
The course is specially designed for
social sciences students. It will show how the methods of
calculus and of linear mathematics may be applied in many
fields of the social sciences. It covers: The real number
system; limits and continuous functions; infinite series;
vector spaces; matrices; differentials and partial
derivatives of functions of several variables; extremum
problems; double integrals; Gamma and Beta functions;
difference equations; differential equations.
Prerequisites: 24118, 24119 or
a pass in Advanced Level Pure Mathematics, or its
equivalent.
Note: The course 24303 prepares
students for Course 100 of the Society of Actuaries (US)
examinations.
77100. English for academic
communication
The course prepares students to respond
effectively to the communicative demands of academic
study in English. Through text-based activities in class
and investigative project work related to language and
disciplinary issues, the course develops abilities to
analyse and evaluate extended texts, and to produce clear
and coherent spoken and written discourses. It also
emphasizes careful revision and editing of essays and
project reports to ensure that lexical and grammatical
choices are correct and appropriate. Assessment: 100%
coursework.
List A (Optional Courses in First Year)
13101. Introduction to political
science
This is a basic course which is intended
to give students an introduction to the concepts, methods
and some of the problems involved in the study of
political science. Assessment: 30% coursework, 70%
examination.
13102. Introduction to public
administration
This is a basic course which introduces
students to the fundamental concepts and issues in public
administration, focusing on the scope of the subject and
the relationship between public administration and
politics. Assessment: 30% coursework, 70% examination.
14101. Introduction to psychology
Discussion of basic concepts in psychology
and a preliminary survey of representative work carried
out in various areas of psychological investigation,
together with an investigation at some length of one such
area.
15111. Introduction to social
administration
This course introduces the basic concepts
in social administration. The range and variety of social
services in Hong Kong, such as education, medical and
health, housing, labour and social welfare, will be
discussed. Assessment: 30% coursework, 70% examination.
16101. Introduction to sociology
This course introduces students to the
nature of sociological enquiry and the basic concepts
used in sociological analysis. After some reference to
the influence of inheritance and environment on human
social behaviour, the course will focus on key concepts
used in the analysis of cultures, social structures,
social processes and social change. The relationship
between research, concepts and contemporary theory will
be explored at an introductory level.
16102. Introduction to anthropology
This course will explore, through
cross-cultural comparison, key social and cultural
issues, such as marriage and the family, caste and class,
ethnicity and identity, language and culture, state
formation, economic value, gender and religion. The
course will draw on studies of the peoples and cultures
of Asia.
Compulsory Second- and Third-year
Courses
17202. Statistical inference
This course builds on 17106,
developing further the language of probability, random
variables and statistical modelling. Contents include:
review of standard distributions, their properties and
relevance; moment generating functions; the Central-limit
theorem; sampling distributions; principles of
estimation, unbiasedness, efficiency, consistency;
maximum likelihood estimation, asymptotic properties,
sufficiency, algorithms; Bayesian statistics and Bayesian
estimators; hypothesis testing, likelihood ratio
principle; simple linear regression; the basic
chi-squared test, categorical data.
Prerequisite: 17106.
17222. Business logistics
Originally, the word 'logistics' described
the strategic aspects involved in moving and supplying
armies and navies. Usage grew to include games of
strategy, such as chess. Modern business corporations are
increasingly using logistics as a management tool, for
example, in capital budgeting problems, production
planning, scheduling, transportation or in deciding a
location for a new factory. This course addresses the
business applications of logistics using mathematics,
statistics and computer packages. Contents include:
optimization techniques applied to problems in the
allocation of resources, financial planning and
transportation; linear programming, dynamic programming,
and integer programming; network analysis, critical path
methods; queueing theory; and probability modelling tools
in production and inventory control.
Prerequisite: 17106.
Note: The course 17222
prepares students for Course 130 of the Society of
Actuaries (US) examination.
17261. Life contingencies
The major objectives here is to integrate
life contingencies into a full probabilistic framework
and to demonstrate the wide variety of constructs which
are then possible to build from basic models at the
foundation of actuarial science. The time-until-death
random variable will be the basic building block by which
models for life insurances, designed to reduce the
financial impact of the random event of untimely death,
will be developed. Techniques for calculating net
premiums and net premiums reserves of various types of
life annuity and insurance will be discussed. Topics
include: survival distributions and life tables; select
life tables; net single premiums and net annual premiums
for a range of life insurance policies including
with-profit policies; extra risk; commutation functions;
net premium reserves; mortality profit. Assessment: 50%
coursework, 50% examination.
Prerequisites: 17202 and 17161.
17262. Linear models and forecasting
This course presents the theory and
practice of linear models and investigates various
forecasting procedures through time series analysis.
Contents include: analysis of variance including one
factor, two factor-unreplicated, and two
factor-replicated experiments; regression and multiple
linear regression; time series models including
autoregressive, moving average, autoregressive-moving
average and integrated models.
Prerequisite: 17202 or
17232 .
17328. Probability modelling
In this course we present the fundamental
principles of probability theory through examples. The
emphasis is on the modelling of systems which evolve with
time in a random way, the so called 'random' or
'stochastic' process. Topics include: the Poisson
process, which models events such as accidents which
occur randomly in time; branching processes, which model
population growth; random walks, which model gambling and
financial transactions; Markov chains; birth and death
processes; diffusion processes, which are useful in
modern finance theory; cognitive models of learning;
models for no-claim discount systems in general
insurance; collective risk models. Some use of standard
computer packages, such as the matrix language IML within
SAS, illustrate the topics on Markov chains.
Prerequisite: 17106.
17361. Advanced life contingencies I
This course builds on the material covered
in 17261. Life contingencies. Several extensions
of the basic theory of life contingencies and insurance
models are discussed. First, the analysis of financial
benefits contingent on the time of death of a single life
can be extended to benefits involving several lives.
Second, the multiple decrement models, instead of a
single contingency of death, are studied. Third,
elaboration of the individual model to incorporate
operational constraints such as acquisition and
administrative expenses, accounting requirements and the
effects of contract terminations are treated. Finally,
applications of these advanced theories are given.
Contents include: multiple life functions; multiple
decrement models; valuation theory for pension plans;
nonforfeiture benefits and dividends including surrender
values and paid-up insurance; gross premiums; gross
premium reserves; alterations to life insurance policies;
profit testing for conventional business. Assessment: 50%
coursework, 50% examination.
Prerequisite: 17261.
17362. Advanced life contingencies II
This course serves as a continuation of 17361.
Advanced life contingencies I and extends the
coverage of statistical models and actuarial techniques
used in the field of life insurance. Topics covered are:
further analysis of the multiple decrement model;
multiple state model; investigating multiple decrement or
multiple state experience; emerging costs methods;
sickness benefits; financial applications of sickness
functions; profit testing for unit-linked business;
applications of actuarial techniques to a wide range of
insurance problems.
Prerequisite: 17361.
17363. Risk theory
Risk theory studies the deviations of
financial results from those expected and deals with
methods of avoiding inconvenient consequences from such
deviations. This course deals with ruin theory;
credibility; the applications of statistical models and
stochastic processes to short-term insurance such as fire
insurance, private motor insurance, and short-term
disability insurance. The general scope of the course
content is as follows: economics of insurance; individual
risk models; collective risk models; ruin theory;
reinsurance; run-off triangles; credibility theory; loss
distributions; applications of risk theory.
Prerequisite: 17328.
17364. Survival studies
Actuaries work with models which predict
the survival pattern of humans or other entities, and
frequently use these models as the basis for calculations
of considerable financial importance. This course is
concerned with the question of how such models are
established. This exercise is sometimes referred to as
survival-model construction. Topics covered are: the
nature and properties of survival models, including both
parametric and tabular models; methods of estimating
tabular models from both complete and incomplete data
samples, including the actuarial, moment, and maximum
likelihood estimation techniques; methods of estimating
parametric models from both complete and incomplete data
samples, including parametric models with concomitant
variables; evaluation of estimators from sample data;
valuation schedule exposure formulas; practical issues in
survival model estimation; statistical models including
binomial and Poisson models; practical methods of
estimating age specific single decrement rates; analysis
of age and duration; practical considerations in
life-office data collection, monitoring actual experience
against that expected.
Prerequisite: 17202.
17365. Topics in actuarial science
The first part of this course is based on
the theory and applications of demography. Topics covered
are: conventional and adjusted measures of mortality
rates; measures of fertility; demographic characteristics
and trends in Hong Kong, Canada, United States, and
United Kingdom; evaluation of demographic data;
mathematics of population projections; mathematics of
stable and stationary populations; introduction to the
applications of demographic characteristics and trends to
actuarial work; selection and heterogeneity; social and
economic effects on mortality and the use of single
figure indices; standard mortality tables; risk
classification.
The observed mortality rates constitute an
initial representation of an assumed underlying law or
pattern of mortality. We may undertake a systematic
revision of the initial rates with the aim of producing a
better representation of the unknown, underlying
mortality pattern, than that given by the initial rates
itself. This process which is known as graduation is the
second topic of this course. Topics covered are: the
problems involved in making and testing the graduations
of mortality tables, or of other series that are likely
to be encountered in the course of an actuary's work;
graduation by the moving -weighted average, Whittaker,
Bayesian, parametric, graphical, standard table, and
smooth-junction interpolation methods; statistical
considerations; two-dimensional graduation; analysis and
critique of the various methods; examples drawn from the
construction of life tables.
Co-requisite: 17202.
24516. Numerical analysis
This course covers both the theoretical
and practical aspects of numerical analysis. Emphasis
will be on basic principles and practical methods of
solution using high speed computers.
Prerequisite: 24303 and knowledge
of a programming language.
Note: The course 24516
prepares students for Course 135 of the Society of
Actuaries (US) examinations.
List B (Optional Courses in Second or
Third Year)
11101. Microeconomic theory
The laws of demand, supply, returns, and
costs; price and output determination in different market
situations; theory of factor pricing and income
distribution; general equilibrium; interest and capital.
Assessment: 40% coursework, 60% examination.
11102. Macroeconomic theory
Theories of income, employment, and the
price level; analysis of secular growth and business
fluctuations; introduction to monetary and fiscal policy.
Assessment: 40% coursework, 60% examination.
11204. The economics of finance
A survey of the economic theory underlying
corporate and investment finance models, with emphasis on
financial instruments. Topics include: balance sheet
management and evaluation, capital market equilibrium and
efficiency, evolution of credit and money market
instruments like financial swaps, stocks and bonds,
financial futures and options. Eurocurrencies and the
role played by banks, insurance companies and other
financial institutions. Assessment: 40% coursework, 60%
examination.
11302. International finance
The interpretation of balance of payments
and the adjustment to national and international
equilibria, through changes in price levels, exchange
rates, and national income. Other topics may include:
foreign exchange market and Eurocurrency market,
alternative exchange rate regimes, capital movements,
exchange controls, and international monetary
organizations. Assessment: 40% coursework, 60%
examination.
12215. Financial accounting I
An introduction to limited liability
companies, and the preparation of their accounts to
satisfy reporting requirements. The principles of
accounting theory and its implications for periodic
income determination and asset valuation for corporate
and other entities.
12306. Cost accounting
The theory and techniques involved in
serving the accounting needs of management in the
decision making, control, evaluation and motivational
aspects.
12309. Finance
A course on the concepts and techniques
involved in the financial decisions of companies,
incorporating treasury management, sources and costs of
long term finance, capital structure problems and
valuation models, dividend policy, and an introduction to
the efficiency of capital markets.
12336. Marketing research
This course will cover the broad
principles of marketing research. Emphasis will be placed
on the use of marketing research as an aid to decision
taking. In this spirit students will be introduced to a
variety of types of marketing research data. Students
will be given the opportunity to engage in practical
marketing research based exercises.
24534. Matrix theory and its
applications
Matrix theory has a close connection with
other mathematical subjects such as linear algebra,
functional analysis, and combinatorics. It also plays an
important role in the development of many subjects in
science, engineering, and social science. In this course,
students will be taught the fundamentals of matrix
analysis and its applications to various kinds of
practical problems. Mathematical software will be used in
the course, so that students can learn how to use the
computer to solve matrix problems.
Prerequisite: 24303.
List C (Optional Courses for Third
Year)
17227. Further topics in probability
modelling
This course builds on the basic techniques
of probability theory established in 17328,
expanding the domain of application to diverse areas and
developing new techniques for problem solving.
Prerequisites: 17328 and 24303.
17237. Computer-oriented statistical
modelling
This is a computer-oriented course of
statistical analysis designed for the statistical major
who likes to see theory illustrated by practical
computation. Numerous real data sets will be presented
for modelling and analysis using statistical packages.
The underlying theory of each analysis will be addressed.
The course also aims to develop skills of model selection
and testing, so that questions of interest can be
properly formulated and answered. An important element
deals with model review and improvement, when one's first
attempt does not adequately fit the data. Modern computer
packages such as SAS make this 'interactive data
analysis' possible. Assessment: 40% coursework, 60%
examination. Examination: One three-hour written paper.
Prerequisite: 17203 or
17262 .
17243. The statistics of investment
risk I
Most investments involve some risk. The
decision to invest or not is usually made against a
background of uncertainty. Whilst prediction of the
future is difficult, there are statistical modelling
techniques which provide a rational framework for
investment decisions, particularly those relating to
stock markets and the markets for interest rates,
commodities and currencies. Building upon research, both
in Hong Kong and abroad, this course presents the
prevailing statistical theories for prices and price
-change in these vital markets. Particular issues include
the distribution of price changes, the concept of an
efficient market, the relationship between price
movements and trading volume, futures trading, the
Black-Scholes formula for option pricing. The general
issue of statistics in gambling situations is discussed,
as theories of gambling have been an important
contribution to the statistics of investment risk.
Prerequisite: 17202.
17244. The statistics of investment
risk II
A course in the pricing and trading of
financial derivatives, this course seeks to provide
students with a strong theoretical background in the
pricing of options and futures. Topics covered include
option pricing models (Black-Scholes,
Cox-Ross-Rubinstein, and Monte Carlo), arbitrage pricing
relationships, stochastic volatility, hedging, portfolio
insurance, and dynamic trading strategies. In addition,
various numerical approaches to option pricing are
stressed.
Prerequisite: 17243.
17330. Selected topics in statistics
This course covers a range of topics
necessary for work as a professional statistician.
Statistical problems can be of many types. Whilst the
statistician will face many non-standard situations, they
are aided by well-developed theories and methods which
bring many problems into a standard framework. This
course presents such theory and method. The emphasis may
vary slightly from year to year.
Prerequisite: 17203 or
17262 .
17337. Financial time series analysis
This course applies advanced time-series
models to the analysis and forecasting of financial
time-series data. Topics covered include vector ARIMA
modelling, Bayesian vector autoregression, state space
models, Kalman filters, unit-root analysis, cointegration
and error-correction models, (G)ARCH modelling, regime
switching models, tests for nonlinearity, nonlinear and
nonparametric regression, neural network methods,
stochastic volatility models. The goal is for students to
gain expertise in the forecasting and empirical testing
of financial models applied to regular and high-frequency
financial time series.
Prerequisite: 17318.
17367. Actuarial practice in financial
security programmes
This course covers a range of topics in
financial security programmes in Canada and the United
States of America and various actuarial techniques for
financial security programme. Contents include: design,
regulation and taxation of the major voluntary financial
security programme involving life insurance, health
insurance, property and casualty insurance, and employee
and pension programmes; characteristics of major social
insurance programmes; description of the providers of
financial security programme; introduction to taxation of
insurance companies; introduction to the techniques of
futurism; costing and pricing techniques for financial
security programmes; valuation of liabilities for
financial security programmes; financial reporting for
life insurance company.
Co-requisite: 17361.
17368. Actuarial principles in
asset/liability studies
This course covers macroeconomics in the
insurance field, the various type of investments used to
fund social security programmes, actuarial techniques
used in managing insurance portfolios.
Co-requisite: 17361.
|
