STK2520 – Problems and methods in Actuarial science
Course description
Course content
The overall aim is to give an introduction to liabilities in both property and life insurance and their connection to the financial side. Some of the most central models and parameters are presented along with stochastic simulation as a tool for computations. The level is elementary. Much emphasis is placed on the inner connection of tools and ideas of the entire actuarial field and also on the uncertainty inherent in such analyses. You will start to understand the numbers actuaries are dealing with in practice. All examples have an aura of real life in them.
Learning outcome
How liabilities in general insurance and life insurance are modelled and evaluated and why life insurance is so different and more predictable and despite this with special techniques you are also introduced to. You are also taught how computations are implemented in computers (small detours into financial risk here), and you start to understand 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:
-
Mathematics R1 (or Mathematics S1 and S2) + R2
And in addition one of these:
- 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 (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 and STK2130 – Modelling by Stochastic Processes.
Overlapping courses
- 3 credits overlap with STK2500 – Life Insurance (discontinued)
- 3 credits overlap with STK2510 – Non-Life Insurance Mathematics (discontinued)
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 subject offers new examination in the beginning of the subsequent term for candidates who withdraw during an ordinary examination or fail an ordinary examination. Deferred examinations for students who due to illness or other valid reason of absence were unable to sit for their final exams will be arranged at the same time. (These valid reasons has to be documented within given deadlines.)
For general information about new and deferred examination, see
MN-facultys webpage about deferred and new examinations
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.