CM1 – Actuarial Mathematics for Modelling
4个单元 · 21个章节
免费的CM1 – Actuarial Mathematics for Modelling学习笔记，专为IFoA (Institute and Faculty of Actuaries)学生准备。下列每个章节都涵盖一个重点主题，附有例题与练习提示，可在 thinka 应用中延伸练习。
Theory of interest rates
Show how interest rates may be expressed in different time periods
Account for the time value of money using the concepts of compound interest and discounting
Extend the techniques to allow for inflation
Describe the operation of financial instruments and insurance contracts as a cashflow model
Calculate the present value and accumulated value for a given stream of cashflows
Evaluate annuity and accumulation functions for a given term and interest or discount rate
Demonstrate an understanding of the term structure of interest rates
Understand duration, convexity and immunisation of cashflows
Equation of value and its applications
Decrement and multiple life models
Demonstrate an understanding of the operation of key assurance and annuity contracts
Apply formulae for the means and variances of the payments under various assurance and annuity contracts, assuming a constant deterministic interest rate
Describe and use assurance and annuity functions involving two lives
Describe and apply methods of valuing cashflows that are contingent upon multiple transition events
Describe and use methods of projecting and valuing expected cashflows that are contingent upon multiple decrement events
Pricing and reserving
Determine the gross random future loss random variable under an insurance contract
Calculate gross premiums and reserves of assurance and annuity contracts
Describe and calculate death strain at risk, expected death strain, actual death strain and mortality profit
Project expected future cashflows for whole life, endowment and term assurances, annuities, unit-linked and with-profits contracts, incorporating multiple decrement models as appropriate
Show how, for unit-linked contracts, non-unit reserves can be established to eliminate ('zeroise') future negative cashflows, using a profit test model
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