Actuarial science

UNIVERSITY OF CAPE TOWN NOVEMBER 2009 EXAMINATIONS INTRODUCTION TO ACTUARIAL SCIENCE (BUS1003H) Time allowed: 2 hours Total marks: 70 INSTRUCTIONS • Answer all questions • You must show your working in full in all questions • Approved calculators may be used, but all memories and user-supplied programmes must be cleared before you begin the examination. • Some tables are provided. • For each of the

Community Service Statement: Briefly describe your extra-curricular activities which demonstrate community service, leadership, and/or volunteerism. Outline your contribution, the time commitment required, and what you learned as a result of participating. I am a representative of the Society of Calgary Undergraduate Math. As a representative, three to four hours per week, or forty-eight to sixty-four hours per semester, are dedicated to office hours, where I am available to anyone who has questions

to be high in demand is because the students that were studying actuarial science in college tend to change majors into an easier course because they find it hard to cope with the tremendous pressure. For them, it was very stressful to take a series of professional papers where the probability to pass those exams were extremely low. There are a number of my friends which started off their first year of college studying actuarial science, changed into some easier course later on, such as Business Administration

2.2 Archimedean Copulas and Their Application "Archimedean copulas" are an important family of copulas described by Genest and MacKay (1986 a, b) and their applications explained in many fields such as actuarial science, mathematics, statistics, finance and insurance; for more information, see Frees and Valdez (1998), Klugman and Parsa (1999) or Denuit, et al., (2004). One of the important features of this family is being parametric. The General structure of Archimedean copula is a function called

Reinsurance is protection that is acquired by an insurance agency (the "surrendering organization" or "cedent" or "cedant" under the course of action) from one or more other insurance agencies (the "reinsurer") straightforwardly or through a representative as a method for danger administration, some of the time by and by including charge alleviation and different reasons depicted underneath. The surrendering organization and the reinsurer go into a reinsurance understanding which points of interest

Definition and Broad Overview Actuarial consultants are professionals who need to have knowledge about a variety of disciplines (for example statistics, economics, law, finance and risk) in order to be able to advise their numerous clients on projects brought to them. They advise clients on methods, regulation, policies, mechanisms and plans which need to be considered when making business decisions. They can work for a firm or independently as a contractor. Numerous areas of expertise are required

This essay will explore three areas of risk management which have been criticised in recent years due to their earlier neglect. Following the description of the problem and the current status of risk management research in each given area, a brief conclusion is provided. The conclusions in this essay aim to address the issues in risk management more generally by building on the status of risk management studies. Weakness 1: Reliance on Static Correlation Assumptions in Dynamic World It has been observed

The protection division in India has finished a full circle from an open aggressive business to nationalization and afterward back to changed open business. LIC of India has been the observer of the whole change starting with one stage then onto the next. In 2000, when Insurance Regulatory and Development Authority (IRDA) was situated up in India, 23 more private disaster protection organizations entered till date into the Indian market other than one current open extra security administrator LIC

The Allianz Group is a financial services provider with worldwide presence. It offers a wide range of insurance and asset management products and services for both private and corporate consumers. It is present in more than 70 countries, with about 108,000 employees serving more than 83 million customers. It is the market leader in insurance market in Europe and is one of the largest asset managers in the world, with €1,170 billion assets under management. The company was established

Small business can expect to pay around $2,000 to $3,000 in Workers Compensation Insurance premiums annually, where the premiums raise with number of covered employees. There is a minimum requirement for Employer liability coverage in Workers Compensation, required by law, of $100,000 to $500,000 per employee for body injury claims. Workers' compensation insurance aims to provide coverage to employer for medical costs in the event of employee injury due to employer negligence or lawsuit from employee