|Unit convenor and teaching staff||
Unit convenor and teaching staff
STAT810 or STAT8310 or STAT806
Survival models will be used to estimate decrement rates from actual experience, compare these with standard rates, and prepare new tables. In constructing new tables, consideration will be given to risk factors; selection; data collection; graduation; and testing the graduation. The concept of actuarial modelling will be discussed. Methods for mortality projection will be described and applied. Machine learning will be introduced. The 'actuarial control cycle', a conceptual framework of the processes for developing and managing financial enterprises and products, will be studied. Students gaining a weighted average of credit across all of ACST8084, ACST8085 and the CS2-related components of the assessment in ACST8086 (minimum mark of 60% on all three components) will satisfy the requirements for exemption from the professional subject CS2 of the Actuaries Institute.
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:
Assessment criteria for all assessment tasks will be provided on the unit iLearn site.
It is the responsibility of students to view their marks for each within-session-assessment on iLearn within 20 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 tasks (not including the final exam mark) will not be addressed.
Late submissions of assessments
Sometimes unavoidable circumstances occur that might prevent you from submitting an assessment on time and, in that case, you may be eligible to lodge a Special Consideration request.
Unless a Special Consideration request has been submitted and approved, please note that no extensions to assessment deadlines will be granted. Assessments that are submitted late will attract a late penalty:
|Game and Discussion Forum Posts||5%||No||Weeks 9 - 13|
|Class Test||30%||No||Week 10|
|Group Presentation||5%||No||Weeks 11 - 13|
|Final Exam||30%||No||University Examination Period|
This is an individual assignment which focuses on actuarial modelling using R.
Seminar and discussion forum participation with game questions/answers
The test will be approximately 90 minutes, to be held during class time.
The presentation is an oral presentation to the class.
The final examination will be closed book, a one and half hours written paper with ten minutes reading time, to be held during the University Examination period.
1 If you need help with your assignment, please contact:
2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation
The timetable for classes can be found on the University web site at http://www.timetables.mq.edu.au/2021. This timetable shows the class times and locations.
Please refer to iLearn for details.
Please refer to iLearn for details.
Consultations will be provided on a regular basis and details will be posted to iLearn. Consultations provide an excellent method for students to clarify any questions that they may have and it is highly suggested that students take advantage of this resource.
Any changes to the course will be announced in lectures and on iLearn. Make sure that you regularly check the Announcements on iLearn.
In this unit students are expected to be able to use R, which will feature extensively throughout the course material and assessments.
Lecture materials and course notes will be provided via iLearn. You will not need any other textbooks. The library does have some actuarial textbooks which may be useful as a source of additional practice problems (references will be posted on iLearn).
Each week tutorial problems and solutions will be posted on iLearn.
Copies of old class tests and exams, with worked solutions, will be made available on iLearn.
Students will need to use computers to access iLearn. Students who do not own a computer can use the University's PC labs.
Some assessment tasks such as the discussion posts and assignment may require some research (e.g. using Google Scholar or the library's electronic databases).
The assignment will require the use of R, which is freely available online. Students are also recommended to download RStudio.
The course notes, readings, recordings, tutorial questions and tutorial solutions for this unit will be posted on the iLearn system. There will be a separate section for each week.
To find the iLearn page, go to ilearn.mq.edu.au and enter your user name and password. Once you log in, you should see a list of all the units you are enrolled in - and this should include ACST8086 Actuarial Modelling. Click on the unit name to go to the unit's iLearn home page.
Mortality modelling including exposed to risk, graduation, statistical tests for graduation and mortality projections.
Introduction to machine learning including fundamental machine learning concepts and an introduction to supervised and unsupervised learning techniques.
Introduction to the Actuarial Control Cycle including the Financial system, General insurance, Data Analytics, Life Insurance, Reinsurance, Private Health Insurance, Professionalism/Ethics, Superannuation, Banking, Mutual organisations and Governance and People.
Macquarie University policies and procedures are accessible from Policy Central (https://policies.mq.edu.au). Students should be aware of the following policies in particular with regard to Learning and Teaching:
Students seeking more policy resources can visit Student Policies (https://students.mq.edu.au/support/study/policies). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/admin/other-resources/student-conduct
Results published on platform other than eStudent, (eg. iLearn, Coursera etc.) 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 or if you are a Global MBA student contact email@example.com
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 help you improve your marks and take control of your study.
The Library provides online and face to face support to help you find and use relevant information resources.
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
If you are a Global MBA student contact firstname.lastname@example.org
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.
Unit information based on version 2021.03 of the Handbook