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ACSC71-400: Actuarial Control Cycle 1

Description

The aim of the Actuarial Control Cycle 1 and 2 is to provide students with an understanding of how the underlying actuarial principles can be applied to a range of real-world problems and issues in commercial and business environments. Applications will include various insurance practice areas and wider fields. Examples will be drawn from traditional and non-traditional areas to illustrate and establish the underlying actuarial principles in a problem-based learning approach, using case studies and business-based examples to cover contemporary issues.  This subject, Actuarial Control Cycle 1, introduces the concept of the Actuarial Control Cycle and uses it as a framework to analyse the impact of issues such as legislative changes and technological changes on the firm.

Subject details

TypePostgraduate
CodeACSC71-400
EFTSL0.125
FacultyBond Business School
Semesters offered
  • May 2022 [Standard Offering]
  • January 2023 [Standard Offering]
  • May 2023 [Standard Offering]
Credit10
Study areas
  • Actuarial Science
Subject fees
  • Commencing in 2022: $5,310
  • Commencing in 2023: $5,450

Learning outcomes

1. Apply the Actuarial Control Cycle in a variety of practical commercial situations, including but not limited to insurance. 2. Analyse the major elements of the external environment (e.g., physical, political, legislative, social, economic, demographic and technological) in making medium- and long-term business decisions. 3. Critically evaluate the positive and negative impacts of regulations and government policies on commercial decisions. 4. Identify the principles of professionalism, recognise the issue of conflict of interests, and the code of professional conduct expected of actuaries. 5. Identify key features of the financial services market, including risks, distribution channels of various financial products and customer needs. 6. Explain the role of enterprise risk management in a company. 7. Apply a risk assessment framework to identify, assess, evaluate and design a risk management plan for commercial situations.

Enrolment requirements

Requisites: ?

Pre-requisites: ?

Co-requisites: ?

There are no co-requisites.

Restrictions: ?
  • Study Abroad Students

Must be admitted into Actuarial Science Honours or Actuarial Practice Programs.

This subject is not available as a general elective. To be eligible for enrolment, the subject must be specified in the students’ program structure.

Subject outlines

Subject dates

Standard Offering
Enrolment opens14/11/2021
Semester start17/01/2022
Subject start17/01/2022
Cancellation 1?31/01/2022
Cancellation 2?07/02/2022
Last enrolment30/01/2022
Withdraw – Financial?12/02/2022
Withdraw – Academic?05/03/2022
Teaching census?11/02/2022
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