Principles of Actuarial Modelling
- 1 hour on-demand video
- 1 article
- 2 downloadable resources
- Full lifetime access
- Access on mobile and TV
- Certificate of Completion
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- 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.
- Yes: Introduction to the Actuarial Exams
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?
Almost all actuarial subjects involve models and so this subject is appropriate for them all.
- Actuarial Students who want to write the profession's exams.