| Academic Year |
2025 |
| Offering Department |
SCDS (Department of Statistics and Actuarial Science) |
Quota |
40
|
| Course Co-ordinator |
Prof K C Cheung, SCDS (Department of Statistics and Actuarial Science) < kccg@hku.hk > |
| Teachers Involved |
(TBC,Statistics & Actuarial Science) |
| Course Objectives |
This course focuses on how students apply actuarial knowledge to develop models within and across various real-life modelling tools. Applications of the knowledge to real-world business problems will be emphasized. |
| Course Contents & Topics |
Brief introduction of actuarial modelling on various areas including data, coding, quality assurance, control, reasonableness check and documentation.
Methods to build, modify and use an actuarial model to project future cashflows with uncertain insurance and market risks.
Key functionality and calculation on the application of probabilistic theories, life contingencies, discounting, reserving techniques in the development of actuarial models.
Pros and cons of different types of actuarial models in terms of efficiency, sustainability, and degree of controls.
Practical experience in preparing assumptions, projecting cashflows, valuating, and troubleshooting through in-class exercise and group project. |
| Course Learning Outcomes |
On successful completion of this course, students should be able to:
| CLO 1 |
Describe the history and recent development of actuarial modelling software. |
| CLO 2 |
Utilize basic foundational operations of actuarial modelling software. |
| CLO 3 |
Demonstrate the ability to develop a model using life contingencies concepts on probabilities, expected values, select and ultimate tables, and decrements. |
| CLO 4 |
Transform complex business problems from cashflow projection and reserving requirements to simplified components like decrement models, discounting, and actuarial present value computation. |
| CLO 5 |
Illustrate effective teamwork and presentation skills. |
| CLO 6 |
Apply the learned concepts on using actuarial software, model development life cycle and change management to in-class exercise and group project. |
|
Pre-requisites
(and Co-requisites and
Impermissible combinations) |
Pass in SDST3901 or already enrolled in this course
For BSc(Actuarial Science) students only.
Only for students admitted in 2025 and thereafter. |
| Course to PLO Mapping |
|
| Offer in 2025 - 2026 |
Y
1st sem
|
Examination |
No Exam
|
| Offer in 2026 - 2027 |
Y |
| Course Grade |
A+ to F
|
| Grade Descriptors |
| A | Demonstrate thorough mastery at an advanced level of extensive knowledge and skills required for attaining all the course learning outcomes. Show strong analytical and critical abilities and logical thinking, with evidence of original thought, and ability to apply knowledge to a wide range of complex, familiar and unfamiliar situations. Apply highly effective organizational and presentational skills. |
|---|
| B | Demonstrate substantial command of a broad range of knowledge and skills required for attaining at least most of the course learning outcomes. Show evidence of analytical and critical abilities and logical thinking, and ability to apply knowledge to familiar and some unfamiliar situations. Apply effective organizational and presentational skills. |
|---|
| C | Demonstrate general but incomplete command of knowledge and skills required for attaining most of the course learning outcomes. Show evidence of some analytical and critical abilities and logical thinking, and ability to apply knowledge to most familiar situations. Apply moderately effective organizational and presentational skills. |
|---|
| D | Demonstrate partial but limited command of knowledge and skills required for attaining some of the course learning outcomes. Show evidence of some coherent and logical thinking, but with limited analytical and critical abilities. Show limited ability to apply knowledge to solve problems. Apply limited or barely effective organizational and presentational skills. |
|---|
| Fail | Demonstrate little or no evidence of command of knowledge and skills required for attaining the course learning outcomes. Lack of analytical and critical abilities, logical and coherent thinking. Show very little or no ability to apply knowledge to solve problems. Organization and presentational skills are minimally effective or ineffective. |
|---|
|
| Communication-intensive Course |
N |
| Course Type |
Lecture-based course |
Course Teaching
& Learning Activities |
| Activities |
Details |
No. of Hours |
| Lectures |
|
36.0 |
| Tutorials |
|
12.0 |
| Assessment |
|
12.0 |
| Reading / Self study |
|
80.0 |
|
Assessment Methods
and Weighting |
| Methods |
Details |
Weighting in final
course grade (%) |
Assessment Methods
to CLO Mapping |
| Assignments |
Students are expected to attend and participate actively in lectures, this includes completing class exercises and selected assignments which will be collected by lecturer. |
30.0 |
1,2,3,4,5,6 |
| Project reports |
Students will present and lead a discussion of a self-developed actuarial model. |
70.0 |
1,2,3,4,5,6 |
|
Required/recommended reading
and online materials |
|
| Course Website |
http://moodle.hku.hk |
| Additional Course Information |
NIL |