Principles of Actuarial Modelling

Principles of Actuarial Modelling

This is a theoretical course for the Actuarial Exams.

The course answers the following questions

• What is a model and why do Actuaries make them?

• What are the components of a model?

• What are the limitations of models?

• Deterministic vs Stochastic: Whats the difference?

• What is the Time Horizon?

• What is Stress Testing?

• What is Scenario Analysis?

• What is Sensitivity Testing?

• How do we communicate a Model's results?

Actuarial Exams:

• Almost all actuarial subjects involve models and so this subject is appropriate for them all.

By MJ the Fellow Actuary

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What you will learn

• We will discuss what a model is and why actuaries make them. We will look at their components and discuss their limitations. We will also compare the stochastic model to the deterministic model and determine how to choose between them. We will also consider stress testing, scenario analysis and sensitivity testing before looking at Time Horizons and communication.

Rating: 4.65

Level: Beginner Level

Duration: 1 hour

Instructor: Michael Jordan