Module Details |
The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module. |
Title | Statistical Methods in Actuarial Science | ||
Code | MATH374 | ||
Coordinator |
Dr L Rojas Nandayapa Mathematical Sciences leorojas@liverpool.ac.uk |
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Year | CATS Level | Semester | CATS Value |
Session 2016-17 | Level 6 FHEQ | First Semester | 15 |
Aims |
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Learning Outcomes |
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Be able to apply the estimation methods described in (b) of the Syllabus for thedistribution described in (a) of the Syllabus, be able to make hypothesis testingdescribed in (b) of the Syllabus for the distribution described in (a) of the Syllabus. |
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Be able to estimate the parameters of the loss distributions when data complete/incomplete |
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Understand and use the Buhlmann model, the Buhlmann-Straub model, be able to state the assumptions of the GLM models – normal linear model, understand the properties of the exponential family. |
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Be able to express the values of the life assurances in (d) of the Syllabus and the life annuities in (f) of the Syllabus in terms of the life table functions. Be able to use approximations for the evaluation of the life assurances in (d) of the Syllabus and the life annuities in (f) of the Syllabus based on a life table. |
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Be able to describe the properties of a time series using basic analytical and graphical tools. |
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Understand the definitions, properties and applications of well know time series |
Syllabus |
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(a) Review of probability theory and Statistical inference (c) Special types of insurance schemes & Reinsurance (d) Bayesian statistics and credibility theory (e) GLM (f) Simulation (g) Time Series with applications |
Recommended Texts |
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Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module. Explanation of Reading List: Key Texts
[1] A., Agresti,. And B., Finlay (1997), Statistical Methods for the Social Sciences (3rd ed.)New Jersey: Prentice Hall. [2] A. J., Dobson (1983), An introduction to statistical modelling, Chapman & Hall. [3] Formulae and Tables, (2002), The Faculty of Actuaries & The Institute of Actuaries. |
Pre-requisites before taking this module (other modules and/or general educational/academic requirements): |
MATH162; MATH263; MATH264; MATH101; MATH102; MATH103 |
Co-requisite modules: |
Modules for which this module is a pre-requisite: |
Programme(s) (including Year of Study) to which this module is available on a required basis: |
Programme:NG31 Year 3 |
Programme(s) (including Year of Study) to which this module is available on an optional basis: |
Assessment |
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EXAM | Duration | Timing (Semester) |
% of final mark |
Resit/resubmission opportunity |
Penalty for late submission |
Notes |
Unseen Written Exam | 2.5 hours | 1st semester | 100 | Yes | Standard UoL penalty applies | Assessment 1 Notes (applying to all assessments) All 5 questions carry equal weight. |
CONTINUOUS | Duration | Timing (Semester) |
% of final mark |
Resit/resubmission opportunity |
Penalty for late submission |
Notes |