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ACSC71-301: Contingencies


This subject is designed to develop mathematical techniques which are used to model and value cash flows that are dependent on events such as death, survival, illness and retirement. The breadth of topics covered provides students with the principles and practical skills required for a variety of life insurance applications, including pricing of life Insurance, assurance and annuities, reserving, assessment of profitability and defined benefit pensions. 

Subject details

FacultyBond Business School
Semesters offered
  • May 2023 [Standard Offering]
Study areas
  • Actuarial Science
Subject fees
  • Commencing in 2022: $5,310
  • Commencing in 2023: $5,450

Learning outcomes

1. Demonstrate thorough knowledge of simple assurance and annuity contracts, and develop formulae for the means and variances of the present values of the payments under these contracts, assuming constant deterministic interest. 2. Compute net premiums and net premium reserves, using ultimate or select mortality, for simple insurance contracts, increasing and decreasing benefits and annuities. 3. Calculate gross premiums and reserves of assurance and annuity contracts. 4. Apply appropriate methods to value or project cash flows that are contingent upon multiple transition or decrement events. 5. Apply projected cash flow techniques for pricing, reserving, and assessing profitability. 6. Demonstrate the ability to produce a written report that communicates ideas clearly, cogently and thoroughly communicates, using a professional style and format.

Enrolment requirements

Requisites: ?

Pre-requisites: ?

Co-requisites: ?

There are no co-requisites.

Restrictions: ?


Subject outlines

Subject dates

Standard Offering
Enrolment opens20/03/2022
Semester start16/05/2022
Subject start16/05/2022
Cancellation 1?30/05/2022
Cancellation 2?06/06/2022
Last enrolment29/05/2022
Withdraw – Financial?11/06/2022
Withdraw – Academic?02/07/2022
Teaching census?10/06/2022