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Actuarial Statistics

Actuarial Statistics image

The strength of our Actuarial Statistics subjects is the emphasis on understanding statistical concepts and methods, and their practical application to actuarial problems. In both CS1 and CS2, emphasis is placed on being able to apply statistical methods to actuarial problems using real data sets and the open-source software environment R. In designing these new subjects will enhance Actuarial Science for our student members through the development of transferable skills and enhanced employability.

To get started with R, download our handy guide.

Actuarial Statistics (CS1)

Core Practices

The aim of Actuarial Statistics (CS1) is to provide a grounding in mathematical and statistical methods that are of relevance for actuarial work. It equips the student with knowledge of statistical distributions, methods to summarise data, the principles of statistical inference, regression models (including generalised linear models) and the fundamental concepts of Bayesian statistics.  The subject includes both theory and application of the ideas using R.  

Subject CS2 builds directly on the material in this subject. Material in this subject is applied to actuarial modelling in subjects CM1 and CM2.

Actuarial Statistics
CS1A
Theoretical Exam
3 hours and 15 minutes
Paper based
+
Actuarial Statistics
CS1B
Computer-based
1 hour and 45 minutes
'R'

You must sit A + B papers in the same session.

 

Exam format:
3 hours and 15 minutes paper-based exam, plus 1 hour and 45 minutes computer-based exam on 'R'
Recommended study hours:

Risk Modelling and Survival Analysis (CS2)

Core Principles

Risk Modelling and Survival Analysis (CS2) builds on CS1.  It develops knowledge of and the ability to apply statistical methods for risk modelling, time series analysis methods, stochastic processes (especially Markov chains and Markov jump processes), survival analysis (including regression methods applied to duration data), and graduation methods  It also includes a high-level introduction to machine learning. The subject includes both theory and application of the ideas to real data sets using R. 

Material in this subject is applied to actuarial modelling in subjects CM1 and CM2.

Risk Modelling
and Survival Analysis
CS2A
Theoretical Exam
3 hours and 15 minutes
Paper based
+
Risk Modelling
and Survival Analysis
CS2B
Computer-based
1 hours and 45 minutes
R

You must sit A + B papers in the same session.

 

Exam format:
3 hours and 15 minutes paper-based exam, plus 1 hour 45 minutes computer-based exam, R
Recommended study hours: