Unit convenor and teaching staff |
Unit convenor and teaching staff
Lecturer
Chong It Tan
Contact via Contact via email or iLearn Forum
E4A 609
Thursday 3-4pm during teaching weeks or by appointment
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Credit points |
Credit points
4
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Prerequisites |
Prerequisites
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Corequisites |
Corequisites
ACST851 and (STAT806 or STAT810 or (ACST601 and ACST604))
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Co-badged status |
Co-badged status
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Unit description |
Unit description
This unit covers the analysis of cash flows dependent on uncertain events of mortality. Single decrement survival models will be used to evaluate the expected present values of payments under life insurance and annuity contracts, and calculate the premiums of such contracts. The concepts of pricing and reserving for future contingent liabilities are considered, and the methods of calculating required reserves will be discussed.
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Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
On successful completion of this unit, you will be able to:
For all assessments:
Assessment criteria for all assessment tasks will be provided on the unit iLearn site.
All individual assessment results will be made available under Grades on the website.
It is the responsibility of students to view their marks for each within-session assessment on iLearn within 20 working days of posting. If there are any discrepancies, students must contact the unit convenor immediately. Failure to do so will mean that queries received after the release of final results regarding assessment marks (not including the final exam mark) will not be addressed.
In the cases where a disruption to studies application is approved, the student may be offered an alternative assessment or may receive a mark based on the percentage mark achieved by the student in one or more other assessment tasks, at the unit convenor’s discretion.
Name | Weighting | Hurdle | Due |
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Class Test 1 | 10% | No | 23 August |
Assessed Coursework | 5% | No | 20 October |
Class Test 2 | 25% | No | 26 October |
Final Examination | 60% | No | Exam period |
Due: 23 August
Weighting: 10%
The class test 1 will be a 45-minute written paper with no reading time, held during the lecture time. It will cover Sections 1 to 3.
Please use the class test as an indicator of whether you are progressing satisfactorily in the unit. If you are having difficulties, please see the Unit Convenor and consider withdrawing before the census date on Friday of week 4.
Students who have not sat the test will be awarded a mark of 0 for the task, except for cases in which an application for disruptions to studies is made and approved.
Due: 20 October
Weighting: 5%
ACST859 students are required to complete PeerWise tasks worth a total of 5% via:
both of which are due by 20 October (Friday of week 10). Further details will be provided in class.
No extensions will be granted. Students who have not submitted the task prior to the deadline will be awarded a mark of 0 for the task, except for cases in which an application for disruptions to studies is made and approved.
Due: 26 October
Weighting: 25%
The class test 2 will be a two-hour written paper with no reading time, held during the lecture time. It will cover Sections 4 to 9.
Students who have not sat the test will be awarded a mark of 0 for the task, except for cases in which an application for disruptions to studies is made and approved.
Due: Exam period
Weighting: 60%
The final examination will be a three-hour written paper with ten minutes reading time, held during the University Examination period.
You are permitted ONE A4 page of paper containing reference material printed on both sides. The material may be handwritten or typed. The page will not be returned to you at the end of the final examination.
Classes
The timetables for classes can be found on the University website at: https://timetables.mq.edu.au/2017/. Tutorials commence in week 2 of the session.
Required and Recommended Texts and/or Materials
No textbooks are prescribed for this unit. Detailed notes, exercises and solutions are available on the unit's web site.
Technology Used and Required
You will be required to use the iLearn site. You may find it useful to be able to construct spreadsheets to verify your solutions to tutorial exercises.
Unit Webpage
Course material is available on the iLearn. To access the teaching website, go to http://ilearn.mq.edu.au and login using your usual login and password.
Since students often seem to print the schedule of topics, it is provided as a separate printer-friendly document in the administration section of this unit's iLearn web site.
Macquarie University policies and procedures are accessible from Policy Central. Students should be aware of the following policies in particular with regard to Learning and Teaching:
Academic Honesty Policy http://mq.edu.au/policy/docs/academic_honesty/policy.html
Assessment Policy http://mq.edu.au/policy/docs/assessment/policy_2016.html
Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html
Complaint Management Procedure for Students and Members of the Public http://www.mq.edu.au/policy/docs/complaint_management/procedure.html
Disruption to Studies Policy (in effect until Dec 4th, 2017): http://www.mq.edu.au/policy/docs/disruption_studies/policy.html
Special Consideration Policy (in effect from Dec 4th, 2017): https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policies/special-consideration
In addition, a number of other policies can be found in the Learning and Teaching Category of Policy Central.
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/support/student_conduct/
Results shown in iLearn, or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit ask.mq.edu.au.
Supplementary exams
Information regarding supplementary exams, including dates, is available at:
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.
Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
For all student enquiries, visit Student Connect at ask.mq.edu.au
For help with University computer systems and technology, visit http://www.mq.edu.au/about_us/offices_and_units/information_technology/help/.
When using the University's IT, you must adhere to the Acceptable Use of IT Resources Policy. The policy applies to all who connect to the MQ network including students.
Our postgraduates will be able to demonstrate a significantly enhanced depth and breadth of knowledge, scholarly understanding, and specific subject content knowledge in their chosen fields.
This graduate capability is supported by:
Our postgraduates will be capable of utilising and reflecting on prior knowledge and experience, of applying higher level critical thinking skills, and of integrating and synthesising learning and knowledge from a range of sources and environments. A characteristic of this form of thinking is the generation of new, professionally oriented knowledge through personal or group-based critique of practice and theory.
This graduate capability is supported by:
Our postgraduates will be capable of systematic enquiry; able to use research skills to create new knowledge that can be applied to real world issues, or contribute to a field of study or practice to enhance society. They will be capable of creative questioning, problem finding and problem solving.
This graduate capability is supported by:
The assessment scheme has been adjusted to comply with the new University Assessment Policy, which first applies for Session 2, 2016.
Survival analysis and the valuation of contingent payments has a long history. The techniques we are using can be found in textbooks on mathematics of finance, rather than needing to source recent research papers.
While some topics in this unit will use Australian jargon and mention Australian market features, the mathematical concepts in this unit are independent of any legislative constraints and so do not recognise national or planetary boundaries.