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.