ACTL1001 Week 7
General Insurance I
Week 7 Outline:
1. Dening general insurance and its social signicance
2. The Australian general insurance industry Markets and
products
3. Introductory risk theory frequency and severity distributions,
correlations and

Introduction to Actuarial Studies Week 7: Profit and Surplus
ACTL 1101 Introduction to Actuarial Studies
Michael Sherris
c University of New South Wales (2015)
School of Risk and Actuarial Studies, UNSW Business School
ARC Centre of Excellence in Populati

ACTL1001: Week 2
Games of Chance
Outline:
1. Random variables
2. Probability theory (independence, moments, pdfs)
3. Key probability distributions for application (binomial, geometric,
Poisson, exponential, normal and lognormal)
Reading
(Req) Sherris, 2.3

ACTL1001: Week 4
Contingent Payments and Ruin Theory
Outline:
Valuation of contingent cashows
Recurrence relations of contingent cashows
Probability of ruin
Random number generators and simulation
Reading
(Req) Sherris, Ch 4: 4.3-4.6
1/1
Topic Objectives

ACTL1001, Week 6
Capital and Solvency Management in Insurance
Companies
Outline:
Types of insurance companies
Capital, risk and prot
Prudential requirements and insolvency
Policy liabilities and prot
Reading
(Req) Sherris, Ch 6
1/1
Topic Objectives and Le

An ethic is a self-created, self-chosen choice to
think and behave as deemed most favorable to the
individual.
Ethics are the non legal rules that we all adopt in
some form to create a cohesive society
Ethics evolve and are different for differing groups

PASS for Actuarial Studies and Commerce (ACTL1001)
2009 Session 2 Week 5
Demography
1. Population A experiences deaths according to the following life table:
Age
55
0.98655 100000
56
0.01409
57
1479
58
0.98305
59
0.01804
(a) Complete the above table.
(b)

PASS for Actuarial Studies and Commerce (ACTL1001)
2009 Session 2 Week 11
Life Insurance
1. There are four main types of insurance: whole life, term life, pure endowment and endowment. For an individual
currently aged (with a term of where appropriate):
(

UNSW
ACTL1101 Introduction to Actuarial Studies
S2 2014
Sample Solutions to Tutorial Exercises Week 10
1
Multiple Choice Exercises
Exercise 1 c
An endowment assurance can be viewed as a combination of a pure endowment and a term insurance. Therefore, the

Introduction to Actuarial Studies Week 8: Risk Pooling
ACTL 1101 Introduction to Actuarial Studies
Michael Sherris
c University of New South Wales (2015)
School of Risk and Actuarial Studies, UNSW Business School
ARC Centre of Excellence in Population Age

ACTL1001 Week 8
General Insurance II
Week 8 Outline:
1. Pricing short-tail contracts using principle of equivalence
2. Adequacy of pricing and reserving Ruin probability and risk
loading
3. Pricing and reserving issues Competitiveness, moral hazard,
adver

ACTL1001 Week 10
Superannuation I
Week 10 Outline:
1. The need for superannuation
2. The Australian Superannuation Industry
3. Dened contribution and dened benet schemes
4. Accumulating for retirement
5. Investment strategies and portfolio returns
1 / 22

Australian School of Business
School of Actuarial Studies
ACTL1001
ACTUARIAL STUDIES AND COMMERCE
COURSE OUTLINE
SEMESTER 2, 2011
PART A: COURSE SPECIFIC INFORMATION
The original material prepared for this guide is copyright. Apart from fair
dealing for t

UNSW
ACTL1101 Introduction to Actuarial Studies
S2 2015
Tutorial Exercises Week 9
1
Multiple Choice Exercises
Exercise 1 Suppose X follows a standard normal distribution. a, b, c, and
d are four constants. Calculate the correlation between aX + b and cX +

UNSW
ACTL1101 Introduction to Actuarial Studies
S2 2015
Tutorial Exercises Week 8
1
Multiple Choice Exercises
Exercise 1 When determining profit for loss, which of the following statement about the increase in the value of the liabilities is INCORRECT?
a)

UNSW
ACTL1101 Introduction to Actuarial Studies
S2 2015
Sample Solutions to Tutorial Exercises Week 9
1
Multiple Choice Exercises
Exercise 1 d
The correlation depends on the values of a and c. When a and c are of
the same sign (both positive or both negat

UNSW
ACTL1101 Introduction to Actuarial Studies
S2 2015
Sample Solutions to Tutorial Exercises Week 8
1
Multiple Choice Exercises
Exercise 1 c
When determining profit for loss, increase in the value of the liabilities is
an expense and decreases the expec

UNSW
ACTL1101 Introduction to Actuarial Studies
S2 2015
Sample Solutions to Tutorial Exercises Week 2
1
Multiple Choice Exercises
Exercise 1 c
Ars Conjectandi was a publication on probability written by James Bernoulli.
Halley developed an early mortality

UNSW
ACTL1101 Introduction to Actuarial Studies
S2 2015
Tutorial Exercises Week 10
1
Multiple Choice Exercises
Exercise 1 An endowment assurance pays $100,000 upon death within a
term of 10 years or survival to maturity. A pure endowment pays $100,000
on

Introduction to Actuarial Studies Week 6: Risk
ACTL 1101 Introduction to Actuarial Studies
Michael Sherris
c University of New South Wales (2015)
School of Risk and Actuarial Studies, UNSW Business School
ARC Centre of Excellence in Population Ageing Rese

PASS for Actuarial Studies and Commerce (ACTL1001)
2009 Session 2 Week 12
General Insurance
1. An insurance company sells policies for a premium of $300 with a sum insured of $500,000. It has sold 20,000
independent policies. The probability of a claim on

PASS for Actuarial Studies and Commerce (ACTL1001)
2009 Session 2 Week 13
Retirement and Social Security
1. A superannuation fund has the following service table:
Age Resignation Death and Disability
40
0.0624
0.0017
41
0.0613
0.0019
42
0.0593
0.0022
43
0

THE UNIVERSITY OF NEW SOUTH WALES
MONTH OF EXAMINATION - NOVEMBER 2002
FINAL EXAMINATION
ACTL1001
ACTUARIAL STUDIES AND COMMERCE
1. TIME ALLOWED - 3 HOURS
2. TOTAL MARKS - 100
3. ANSWER ALL QUESTIONS IN BOTH PART A AND PART B.
4. PART A HAS 40 QUESTIONS.