2010 Course Handbook
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ACST354: Survival Models
This unit develops advanced probability and statistical models for survival times and insurance losses. Nonparametric and parametric approaches are employed to draw sensible statistical inference on survival and loss, based on observed lifetimes and other forms of survival data. Students learn to apply sophisticated models and techniques to estimate survival distributions and decrement rates, predict future losses, assess the quality of estimation, identify risk factors and evaluate the impact of the risks. The unit covers a wide range of important topics including: survival analysis; Cox regression model; mortality models; stochastic processes; Markov chains and jump processes; Poisson processes; multiple state models; graduation of observed rates; and testing of graduation. Students gaining a grade of credit or higher in this unit may apply for exemption from subject CT4 of the professional exams of the Institute of Actuaries of Australia.
| Credit Points: | 4 |
| Contact Hours: | 5 |
| When Offered: | D1 - Day; Offered in the first half-year |
| Staff Contact(s): | Actuarial staff |
| Prerequisites: |
(ACST243(P) or ACST255(P)) and (ACST211(P) or ACST212(P)) and STAT271(P) |
| Corequisites: | |
| NCCW(s): | ACST344, ACST397 |
| Unit Designation(s): | |
| Assessed As: | Graded |
| Offered By: | Department of Actuarial Studies |
Timetable Information
For unit timetable information please visit the Timetables@Macquarie Website .