| Subject Code : | ACST1052 | Country : | Australia |
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Assignment Task
The objectives of the assignment are to allow you to
• Comprehend how the actuarial control cycle is used to identify and manage financial risks.
• Construct simple cash flow models which can be used for decision making and implement these in Excel or other software.
• Apply demographic data and statistical models to price policies, determine ruin probabilities and implement simulation models in Excel or other software.
• Explain why legislation, accounting standards, codes of conduct, and professional requirements are necessary and how the business environment affects the management of the financial services business.
• Identify and discuss the tools which can be used to manage risk, including the impact of diversification and leverage, capital, risk pooling and risk transfer.
The tasks
In this assignment, you will be modelling the superannuation accumulation phase for an actuarial career. We will take a more modern approach, along for stochastic variation. We will then examine the retirement decumulation phase, assessing various risks and coming up with some retirement scenarios. Finally, you will be asked to write a concise report describing your results.
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