Introduction to Actuarial Studies

This subject aims to provide insights into the actuarial profession through two different lenses. A technical lens covers the basic techniques used by actuaries (with particular end goal to be able to price basic life insurance covers at the end of the subject): pooling and the principle of insurance, time value of money (compound interest functions and operations; valuation of annuities, bonds and loans); demography (and factors affecting population growth and size); mortality models (construction and use of the life table); application (combination) of these in life insurance. An actuarial practice lens discusses professionalism and the main areas of actuarial work (main products, actuarial role, recent issues): data and predictive analytics; risk management; life insurance and wealth management; superannuation; health insurance; general insurance.