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» ACST345
ACST345: Contingent Payments |
Factors affecting mortality are considered, and the modelling and estimation of decrement rates from ACST344 is extended to the case where rates depend on both age and duration. Multiple decrement models are considered, and the valuation of benefits and contributions under superannuation plans is examined. Expected cash flow models and profit test models are developed for life insurance products including traditional products, unbundled-unit linked contracts and disability income insurance products. The concepts of pricing and reserving for future contingent liabilities, and the effect of the pricing and reserving bases on the emergence of profit are also considered.
| Credit Points: | 4 |
| Contact Hours: | 6 |
| When Offered: |
D2 - Day; Offered in the second half-year
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| Staff Contact: |
Actuarial Staff |
| Prerequisites: |
ACST344(P); ACST200(P)
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| Corequisites: |
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| NCCWs: | ACST232
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| Unit Designations: |
Commerce; Economics;
Science
| | Assessed As: |
Graded
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| Offered By: |
Department of Actuarial Studies |
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