ACTL4001 theory and practice assessment PDF

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Description of the assessments...

Description

School of Risk and Actuarial Studies ACTL4001/4002 Actuarial Theory & Practice A/B Assessment Details

Debate Discussion (10%) Assessment Task

Weighting

Length

Due Date

Self-Introduction

1%

~100 words

Week 2

In-class Debate

3%

3 mins

Week 2 to 10 as allocated

Discussion Post – 1st

3%

~200 words

Week 2 to 10 as allocated

Discussion Post – 2nd

3%

~200 words

Week 2 to 10 as allocated

In-class Debate/Presentation Students should talk for no more than three minutes on the topic/debate that they have been allocated – to give time for questions and comments. Your presentation will be assigned during the normal lecture time using Microsoft Teams. Marks will be allocated marks for: •

•

Preparation – indication that you have looked at the topic(s) and read references (or found some yourself), and thought about the issue (leading to a mark of at least 50% to 75%). Marks will be on the lower end if you just read what the text book says about the points. All students need to read and learn what it in the text book (and other readings) so you are giving an insight – not the whole story. Insight – Demonstration of enthusiasm about the new learning you have gained, and how it could be applied; or why you disagree with the opinions expressed; or raising issues of interest or difficulty; or connections with other courses or areas of this course. (Leading to a mark of 80% to 100%)

You may be stopped if you go overtime – and marks will be lower as a consequence. Your detailed topic will be allocated one week before the lecture. Discussion Posts You will be awarded full marks as long as you make the post on the related lecture discussions as allocated. Your discussion posts will be assigned and submitted using the Microsoft Teams. You can answer the guided questions or make comments on others’ discussions. This is an effort-based assessment with guidelines: • • • • •

•

Ideally, posting to the discussion forums should be evenly through the term. Address the questions as much as possible. Postings should be concise following the recommended word count. Look for opportunities to build on the responses of your peers and stimulate further discussion. Avoid postings that are limited to 'I agree' or 'great idea', etc. If you agree (or disagree) with a something your peers have posted, say why by supporting your statement with concepts from the videos, additional references (included with videos or ones you have found on your own) and/or a related example or experience. Bring in related prior knowledge when possible (work experience, other courses you have done, readings, etc.)

Group Assignment (20%) Assessment Task

Weighting

Length

Due Date

Building Teams

2%

-

Week 3

Problem Statement

6%

~250 words

Week 7

Video Presentation

12%

~10 mins

Week 9

The group assignments are intended to promote engagement with the problems and opportunities available in the financial sector, and to develop your skills in research, your ability to concisely and coherently present your ideas, and to work in groups. In the first term (Actuarial Theory & Practice A), your group is asked identify a problem or opportunity in financial services or government’s provision of health and welfare benefits that is of interest. You are expected to develop a problem statement and pitch a potential solution whereby you as a group could address it. It could be in Australia or another country. In the second term (Actuarial Theory & Practice B), your team will further develop a project solution and a summary report for the problem identified in Term 1. You will be asked to use numerical data and models to illustrate the solutions you produce. •

If it is a new product or service, your plan will including a new company (start-up) to provide it, or possibly a new division in an existing company. You will need to describe the marketing mix, and your competitors.

•

If it is a change in government policy, you will need to identify which body will create and promote the plan. It could be a new or existing research organization, “think tank” or an industry body. You will need to identify those parties in society who will benefit and those who will oppose the proposal because they will pay additional taxes or lose benefits. You will also need to identify those people who will be making the necessary decisions and how they might be influenced to make the decision.

You are expected to spend 10 to 15 hours on the assignment in each course. The questions are set out below. You will be allocated to groups of 4 or 5. Your teams’ name and group choice of industry must be communicated to the LIC by Week 3. A group of external qualified actuaries are invited to be the industry mentors for your group assignments, reviewing and providing feedback on your submissions. The LIC will make the best effort to match the mentors and mentees successfully sharing the same industry interest; however, mentors' availability is subject to change. Potential areas of interest: 1. 2. 3. 4. 5. 6. 7. 8.

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Finance/Investment Life insurance General insurance HealthcareI Superannuation Big Data/AI Risk management Social welfare

Final Exam (70%) Students should note that the final assessment can involve scaling of overall marks so that the overall course mark reflects standards that are as consistent as possible from year to year. In addition, in this course, results will be reviewed by an external examiner from the Institute of Actuaries of Australia.

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