2010 Course Handbook
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ACST356: Mathematical Theory of Risk
This unit examines the use of statistical models in the insurance context. Statistical models of the number of claims and the sizes of the claims are studied. These models are used as a basis for the study of risk theory, ruin theory and the effect of reinsurance. The use of no claim discount systems as a method of experience rating is described. Decision theory and simulation are also studied. Students gaining a grade of credit or higher in both this unit and ACST357 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: | 3 |
| Contact Hours: | 4 |
| When Offered: | D1 - Day; Offered in the first half-year |
| Staff Contact(s): | Actuarial staff |
| Prerequisites: |
STAT272(P) |
| Corequisites: | |
| NCCW(s): | ACST398, ACST399 |
| Unit Designation(s): | |
| Assessed As: | Graded |
| Offered By: | Department of Actuarial Studies |
Timetable Information
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