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Principles of Actuarial Modelling
Highest Rated
Rating: 4.7 out of 5(636 ratings)
3,045 students
Created byMichael Jordan
Last updated 2/2022
English

What you'll learn

  • We will discuss what a model is and why actuaries make them. We will look at their components and discuss their limitations. We will also compare the stochastic model to the deterministic model and determine how to choose between them. We will also consider stress testing, scenario analysis and sensitivity testing before looking at Time Horizons and communication.

Course content

1 section • 10 lectures • 54m total length

  • Course Outline4:04
  • Introduction to Actuarial Modelling6:28
  • Components of an Actuarial Model9:17
  • Limitations of Models3:26
  • Deterministic vs Stochastic Models3:52
  • Time Horizons3:14
  • Model Analysis (Stress, Sensitivity, Scenario Analysis)9:25
  • Communicating Model Results5:34
  • Resources: Slides and Notes0:01
  • Data Analysis9:20

Requirements

  • Yes: Introduction to the Actuarial Exams

Description

This is a theoretical course for the Actuarial Exams.

The course answers the following questions

  • What is a model and why do Actuaries make them?

  • What are the components of a model?

  • What are the limitations of models?

  • Deterministic vs Stochastic: Whats the difference?

  • What is the Time Horizon?

  • What is Stress Testing?

  • What is Scenario Analysis?

  • What is Sensitivity Testing?

  • How do we communicate a Model's results?

Actuarial Exams:

  • Almost all actuarial subjects involve models and so this subject is appropriate for them all.

Who this course is for:

  • Actuarial Students who want to write the profession's exams.

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