STK3505 - Problems and methods in Actuarial science

Schedule, syllabus and examination date

Choose semester

Course content

The overall aim is to give an introduction to liabilities in both general and life insurance and their connection to the financial side. Some of the most central models and parameters are presented with stochastic simulation as a tool for computations. The level is elementary. Much emphasis is placed on understanding the entire actuarial field, and especially on the uncertainty inherent in such analyses. The course is meant to give an understanding for the numbers actuaries are dealing with in practice;  therefore all examples have an aura of real life.

Learning outcome

After completing the course:

  • You know how general and life insurance are modelled and evaluated.
  • You understand why general and life insurance are so different.
  • You have been introduced to long term financial risk, which is important in insurance, and to stock options.
  • You have learned how to implement risk computations in computers.
  • You have been introduced to methods for assessing uncertainty in risk analyses.
  • You have an understanding for the numbers that are the central outcome of actuarial analyses.

Admission

Students who are admitted to study programmes at UiO must each semester register which courses and exams they wish to sign up for in Studentweb.

If you are not already enrolled as a student at UiO, please see our information about admission requirements and procedures.

Prerequisites

Formal prerequisite knowledge

In addition to fulfilling the Higher Education Entrance Qualification, applicants have to meet the following special admission requirements:

One of these:

  • Mathematics R1
  • Mathematics (S1+S2)

And and in addition one of these:

  • Mathematics (R1+R2)
  • Physics (1+2)
  • Chemistry (1+2)
  • Biology (1+2)
  • Information technology (1+2)
  • Geosciences (1+2)
  • Technology and theories of research (1+2)

The special admission requirements may also be covered by equivalent studies from Norwegian upper secondary school or by other equivalent studies. Read more about special admission requirements (in Norwegian).

Recommended previous knowledge

Recommended prior knowledge is covered by MAT1100 - Calculus, MAT-INF1100 - Modelling and computations, INF1100 - Introduction to programming with scientific applications (continued), MAT1110 - Calculus and linear algebra, STK1100 - Probability and statistical modelling, MAT1120 - Linear algebra, STK1110 - Statistical methods and data analysis 1 and STK2130 - Modelling by Stochastic Processes.

Overlapping courses

For information about the potential partial overlap with other courses, contact the Department.

Teaching

2 hours of lectures and 2 hours exercises each week through the semester.

Examination

One compulsory assignment need to be passed within given deadline to be allowed to take the final exam. Final mark based on written examination at the end of the semester.

Rules for compulsory assignments at the Department of Mathematics.

Examination support material

Permitted aid: Approved calculator.

Information about approved calculators (Norwegian only)

Language of examination

Subjects taught in English will only offer the exam paper in English.

You may write your examination paper in Norwegian, Swedish, Danish or English.

Grading scale

Grades are awarded on a scale from A to F, where A is the best grade and F is a fail. Read more about the grading system.

Explanations and appeals

Resit an examination

This course offers both postponed and resit of examination. Read more:

Withdrawal from an examination

It is possible to take the exam up to 3 times. If you withdraw from the exam after the deadline or during the exam, this will be counted as an examination attempt.

Special examination arrangements

Application form, deadline and requirements for special examination arrangements.

Evaluation

The course is subject to continuous evaluation. At regular intervals we also ask students to participate in a more comprehensive evaluation.

Facts about this course

Credits

10

Level

Bachelor

Teaching

Every autumn

The course replaces STK2520 - Problems and methods in Actuarial science (continued) from Autumn 2014.

Examination

Every autumn

Teaching language

Norwegian (English on request)