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Mathematical Theory of Risk - ACST861

This unit explores the use of statistical models in insurance: statistical models of the claim frequency and of claim size are studied. These models are a basis for the study of risk theory, ruin theory and reinsurance. Credibility theory is studied as a form of experience rating. Decision theory and simulation are also studied. Students gaining a grade of credit or higher in this unit and ACST862 General Insurance Pricing and Reserving may apply for exemption from subject CT6 of the professional exams of the Institute of Actuaries of Australia.

Credit Points: 4
When Offered:

S1 Day - Session 1, North Ryde, Day

Staff Contact(s): Actuarial staff
Prerequisites:

(ACST601 and ACST604) or (STAT680 and STAT683) or (admission to MActPrac post 2014) Prerequisite Information

Corequisites:

STAT806 or STAT810

NCCW(s): ACST885
Unit Designation(s):

Commerce

Economics

Science

Assessed As: Graded
Offered By:

Department of Actuarial Studies and Business Analytics

Faculty of Business and Economics

Course structures, including unit offerings, are subject to change.
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