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Actuarial Control Cycle

Beschreibung

Mindmap am Actuarial Control Cycle, erstellt von Sanja Sunjka am 17/04/2017.
Sanja Sunjka
Mindmap von Sanja Sunjka, aktualisiert more than 1 year ago
Sanja Sunjka
Erstellt von Sanja Sunjka vor mehr als 8 Jahre
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Zusammenfassung der Ressource

Actuarial Control Cycle
  1. 1. Identify & Specify the problem
    1. CT5: - Define simple assurance & annuity contracts - Describe projected cashflows & valuing these cashflows
      1. CT3: - Basic discrete & continuous distributions - Explain the concepts of probability
        1. CT4: - Describe the principle of actuarial modelling - Explain the concepts of survival modes
          1. CT6: - Explain concepts of decision theory - Explain concept of ruin for a risk model - Explain concepts of "Monte Carlo" simulation
            1. CT7: - Describe profit maximisation under perfect competition & monopoly - Understand the macroeconomic environment of the business - Consumer demand & behaviour
              1. CT2: - Cost of capital - Describe the major types of financial insitutions
                1. CT8: - Describe the application of utility theory - Discuss the various forms of Efficient Market Hypothesis
                  1. CT1: - Describe how to use generalised cash flows - Time value of money & concepts of compound & discount
                  2. 2. Develop & implement solutions
                    1. CT2: - Showing how financial techniques are used in capital investment projects
                      1. CT1: - Calculating present value & accumulated value
                        1. CT4: - Deriving maximum likelihood estimators - Applying Markov chain & processes
                          1. CT5: - Evaluate expected values & variances - Calculate mortality & premiums for varying benefits
                            1. CT8: - Calculate expected return & risk of a portfolio - Perform calculations using CAPM & Black - Scholes
                              1. CT6: Calculating probabilities & moments of loss distributions - Applying techniques for delay triangles
                                1. CT 7: - Calculate price & income elasticity - Calculate insurance problems in terms of utility
                                  1. CT3: - Constructing confidence intervals for unknown parameters - Testing hypotheses
                                  2. 3. Monitor & Respond to experience
                                    1. CT1: - Relationship between rates of interest & discount - Discount or accumulation of money at any point in time
                                      1. CT2: - Manage the financial risk reviewing financial results
                                        1. CT3: - Investigating linear relationships between variables - Use basic sampling distibutions
                                          1. CT4: - Simulated Markov process - Comparing crude & graduated sets of estimates
                                            1. CT8: - Discussing the limitation of asset pricing model assumptions - Evaluating modern financial theories to determine they're suitable & relevant
                                              1. CT5: - Prospective & Retrospective reserves - Determining the impact of uncertain risks on cashflows
                                                1. CT6: - Determining impact of reinsurance treaties on the insurer & reinsurer - Discussing the fit of assumptions
                                                  1. CT7: - Understanding the uncertainty of future market movements - Impact of changes in money supply and interest rates
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