ACTL4301 Models for Risk Management

Subject Code

ACTL4301

Study Level

Undergraduate

Commencing Term

Term 2

Total Units of Credit (UOC)

Delivery Mode

On Campus and Online

School

Risk & Actuarial Studies

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1. Course Details

Summary of Course

This course explores quantitative methods of risk measurement and modelling in financial institutions including insurers, reinsurers, superannuation funds, and banks. Major types of risks encountered therein will be studied.

Topics covered include: Risk Measures; Multivariate Models; Copulas and Dependence; Financial Time Series; Extreme Value Theory; Market Credit and Operational Risk.

Together with ACTL4302, it is designed to cover the course topics for the professional actuarial Enterprise Risk Management/ CERA qualification. Students completing the courses ACTL4301 and ACTL4302 at a Distinction average will be recommended for an exemption for the Actuaries Institute Part III Examination C7A on Enterprise Risk Management.

Teaching Times and Locations

Please note that teaching times and locations are subject to change. Students are strongly advised to refer to the Class Timetable website for the most up-to-date teaching times and locations.

View course timetable

Course Policies & Support

The Business School expects that you are familiar with the contents of this course outline and the UNSW and Business School learning expectations, rules, policies and support services as listed below:

Program Learning Outcomes
Academic Integrity and Plagiarism
Student Responsibilities and Conduct
Special Consideration
Protocol for Viewing Final Exam Scripts
Student Learning Support Services

Further information is provided in the Assessment and Policies and Support sections.

Students may not circulate or post online any course materials such as handouts, exams, syllabus or similar resources from their courses without the written permission of their instructor.

Course Aims and Relationship to Other Courses

The aims of this course are to provide students with an understanding of:

The main techniques used to develop and estimate distributions used in risk management for insurance, market, credit and operational risk.
Risk models for individual risks and aggregate risks in a portfolio.
The main features of market, credit and operational risk models and their links to insurance risk modelling.
Alternative approaches to modelling dependencies in risk management, the main features of copulas and applications of copulas to model a portfolio of dependent risks.
The main features and risk management applications of extreme value distributions.
Current research issues in quantitative risk models and their practical applications.

This course is offered as an elective in the undergraduate program in the school of risk and actuarial studies.

Students are assumed to have a good mathematics background and a solid understanding of the concepts of probability and statistics and risk models as covered in ACTL2131 Probability and Mathematical Statistics and ACTL3162 General Insurance Techniques. These courses are the formal prerequisites for ACTL4301. In addition, students will also benefit from having been exposed to topics in financial economics such as discussed in ACTL3182 Asset-Liability and Derivative Models.

Students need to be able to use a word processing package (such as WORD) and a spreadsheet (such as EXCEL). They should also be familiar with a statistical software package such as R which can be used to implement many of the models discussed in this course.

Student Learning Outcomes

The Course Learning Outcomes (CLOs) are what you should be able to demonstrate by the end of this course, if you participate fully in learning activities and successfully complete the assessment items.

CLOs also contribute to your achievement of the Program Learning Outcomes (PLOs), which are developed across the duration of a program for all coursework students in the Business School. More information on PLOs is available under Policies and Support. PLOs are, in turn, directly linked to UNSW graduate capabilities and the aspiration to develop “globally focussed graduates who are rigorous scholars, capable of leadership and professional practice in an international community”.

The following table shows how the CLOs for this course relate to the overall PLOs and indicates where each CLO and PLO is assessed:

Course Learning Outcomes	Program Learning Outcomes	Course Assessment Item
On successful completion of the course, you should be able to:	This course helps you to develop the following Program Learning Outcomes:	This learning outcome will be assessed in the following items:
Understand aspects of the theory and practice of quantitative risk modelling for insurance and financial risks as covered in the course aims.	PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication	Exams
Assess models used for risk management in practice and their advantages and shortcomings.	PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication	Exams
Estimate and apply various models for practical applications.	PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication	Exams
Review and analyse more advanced risk models.	PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication	Exams
Identify and evaluate relevant research literature on current developments in quantitative risk modelling.	PLO 2: Problem solving PLO 3: Business communication	Exams
Use effective presentation, discussion and report writing skills for explaining risk-modelling concepts used in quantitative risk management.	PLO 3: Business communication	Exams

2. Staff Contact Details

Position	Title	Name	Email	Location	Phone	Consultation Times
Lecturer in Charge	Prof	Qihe Tang		Room 641, Level 6, East Wing, UNSW Business School Building – Ref E12	61 2 9385 7103	TBA

Dr Qihe Tang, Lecturer-in-charge (LIC), is responsible for teaching and assessment of the course. Mr Zhiwei Tong, Tutor, will run tutor sessions. Dr Tang and Mr Tong will alternatively hold consultation on a regular basis, with the exact schedule to be posted on the course website in Moodle.

Email would be an effective way to reach them: qihe.tang@unsw.edu.au (Qihe Tang); zhiwei.tong@unsw.edu.au (Zhiwei Tong)

3. Learning and Teaching Activities

Approach to Learning and Teaching in the Course

The course textbooks, lectures, and assessment tasks are designed to provide a framework for your learning. Every student has a different approach to learning. How much time you spend on reading in preparation for lectures, completing assessment tasks, reviewing course objectives, deepening your understanding and preparing for final examinations will depend on your learning approach. Lectures will generally cover the main concepts and issues and will not necessarily cover all the details of the course readings or texts. It is expected that you have read the reading material for the lecture in advance. Students who are successful in this course take an active approach to learning.

Learning Activities and Teaching Strategies

The learning activities of this course involve three key components – the lecture, the assignment, and your private study. Each lecture will provide a short overview of the topic at hand and will then focus on explaining the difficult concepts and issues. The role of the lecture is to help you understand the context of the topic as well as work through the difficult points. To maximize your achievements in each lecture you should read the lecture notes prior to each class. The assignments present you with a practical application of course concepts to a problem in risk management. Your private study is the most important component of this course. Weekly readings, solving problems, and your own topic summaries form the basis of an excellent private study regime Students are not permitted to bring into the class any sound or video recording devices.

4. Assessment

Formal Requirements

In order to pass this course, you must:

achieve a composite mark of at least 50 out of 100;
meet any additional requirements described in the Assessment Summary section.

You are expected to attempt all assessment requirements in the course.

Assessment Structure

Assessment Task	Weighting	Length	Due Date
Take-home Formative Midterm	5%	1 hour equivalent	Week 5
Assignment	25%	–	Week 8
Final Exam	70%	2 hours	University Examination Period
Total	100%	–	–

Assessment Summary

As a student at UNSW you are expected to display academic integrity in your work and interactions. Where a student breaches the UNSW Student Code with respect to academic integrity, the University may take disciplinary action under the Student Misconduct Procedure. To assure academic integrity, you may be required to demonstrate reasoning, research and the process of constructing work submitted for assessment.

To assist you in understanding what academic integrity means, and how to ensure that you do comply with the UNSW Student Code, it is strongly recommended that you complete the Working with Academic Integrity module before submitting your first assessment task. It is a free, online self-paced Moodle module that should take about one hour to complete.

Take-home Exam (5%)

There will be one written answer take-home exam due in week 5. Details are to be announced on Moodle.

The exam requires written responses, with students earning marks for correct explanations of the main concepts and issues examined in each question. Marks for calculation questions will be granted on mathematical working as well as part marks for incorrect responses with correct method and reasoning. They test not only your knowledge of the material but also the depth of your understanding of it.

Assignment (25%)

The assignment is intended to develop your skills in research and your ability to concisely and coherently present your ideas. It is intended to be part of achieving course learning outcomes 1-6. There will be one major assignment task involving the application of course concepts to data analysis and practical risk management decision-making. Details will be provided through the course web site. The assignment will allow students the opportunity to develop their understanding of the issues involved in estimating and applying models for various risks and broaden their knowledge of course topics. They will also provide students with an opportunity to develop research skills in learning how to locate and evaluate the research literature on quantitative risk modeling. Marks will be awarded for:

Accuracy of results
Presentation
Reasonableness checks applied
Technical details.

The assignment questions will be posted on Moodle. It should be submitted via TURNITIN on Moodle. Dates regarding the assignment are to be announced. Students are reminded that the work they submit must be their own. While we have no problem (and in fact, it is encouraged, to interact with your peers to enhance your learning) with students working together on the assignment problems, the material students submit for assessment must be their own.

Final Exam (70%)

The final examination will be a 2-hour written paper. The examination will aim to assess the achievement of the learning outcomes of the course including the course aims. The examination will assess critical analysis and problem-solving skills as well as written communication skills.

Calculators will be allowed in the Final Exam but a clear indication of all of the steps involved in your calculations must be shown. The University will not supply calculators to students for use in examinations where the provision of calculators has not been requested by the course examiner. It is the student’s responsibility to be familiar with the rules governing the conduct of examinations. The exam will require written responses, with students earning marks for correct explanations of the main concepts and issues examined in each question. They test not only your knowledge of the material but also the depth of your understanding of it.

It is important to note that any assessment is subject to external review for accreditation purposes.

This course may involve undertaking online examinations for which monitoring of the student's own computer equipment or digital devices will be required. Monitoring of online examinations will be conducted directly by the University or by third party providers on behalf of the University, such providers being bound by the University's privacy and security requirements.

Any data collected will be handled accordance with UNSW Data Handling Guidelines https://www.datagovernance.unsw.edu.au/policies-and-standards. For more information on how the University manages personal information please refer to the UNSW Student Privacy Statement https://student.unsw.edu.au/privacy and the UNSW Privacy Policy https://www.gs.unsw.edu.au/policy/privacypolicy.html

Assignment Submission Procedure

Assignments must be submitted via the Turnitin submission box that is available on the course Moodle website.

Please note that it is assignments MUST be submitted prior to the due time and date. The School of Risk and Actuarial Studies has a policy of grading late assignments with a zero mark. Punctual submission of work is required in order to satisfy the requirements of the course. Turnitin will not accept any late submission. The assignment may be marked at the discretion of the course co-ordinator if there is a valid reason for late submission and used in cases where your final overall results are marginal.

You need to check your document once it is submitted (check it on-screen). We will not mark assignments that cannot be read on screen.

Students are reminded of the risk that technical issues may delay or even prevent their submission (such as internet connection and/or computer breakdowns). Students should then consider either submitting their assignment from the university computer rooms or allow enough time (at least 24 hours is recommended) between their submission and the due time. The Turnitin module will not let you submit a late report. No paper copy will be either accepted or graded.

In case of a technical problem, the full document must be submitted to the course coordinator before the due time by e-mail, with explanations about why the student was not able to submit on time. In principle, this assignment will not be marked. It is only in exceptional circumstances where the assignment was submitted before the due time by e-mail that it may be marked—and this only if a valid reason is established.

Assessment Feedback

Feedback on student performance from formative and summative assessment tasks will be provided to students in a timely manner. Assessment tasks completed within the teaching period of a course, other than a final assessment, will be assessed and students provided with feedback, with or without a provisional result, within 10 working days of submission, under normal circumstances. Feedback on continuous assessment tasks (e.g. laboratory and studio-based, workplace-based, weekly quizzes) will be provided prior to the midpoint of the course.

Special Consideration

You can apply for special consideration when illness or other circumstances beyond your control, interfere with your assessment performance (to apply see Special Consideration on the UNSW Current Students page). Special Consideration is primarily intended to provide you with an extra opportunity to demonstrate the level of performance of which you are capable.

Special Consideration applications will be assessed centrally by the Case Review Team within Student Lifecycle. The Case Review team will update the online application with the outcome and add any relevant comments.

Please note the following:

Applications can only be made through Online Services in myUNSW. Applications will not be accepted by teaching staff. The lecturer-in-charge/course coordinator will be automatically notified when you lodge an online application for special consideration.
Applying for special consideration does not automatically mean that you will be granted a supplementary exam or other concession.
If you experience illness or misadventure in the lead up to an exam or assessment, you must submit an application for special consideration, either prior to the examination taking place, or prior to the assessment submission deadline, except where illness or misadventure prevent you from doing so.
If you sit the exam/submit an assignment, you are declaring yourself well enough to do so and are unable to subsequently apply for special consideration.
If you become unwell on the day of the exam, you must provide evidence dated within 24 hours of the exam, with your application.
The current provisions will continue for exceptional circumstances, for example, if a student falls sick during an exam. Other exceptions will continue to be examined on a case by case basis by the Student Lifecycle team.
Special consideration requests do not allow the awarding of additional marks to students.

Further information on Business School policy and procedure, as well as supplementary exam dates for the current term, can be found under “Special Consideration” on the Policies and Support page.

Special consideration and assessments other than the Final Exam in undergraduate and postgraduate courses

For courses offered by the School of Risk and Actuarial Studies, the weight of the mid-term exam for which special consideration is granted is re-allocated to the final exam.

Special consideration does not entitle students to a supplementary opportunity to complete the assessment item. For an assignment, oral presentation and any in-session assessment item other than the mid-term exam, an extended deadline, an additional assessment or a re-allocation of the weight to the final exam may be granted.

Late submission of assessment items

When an assessment item had to be submitted by a pre-specified submission date and time and was submitted late, the School of Risk and Actuarial Studies will apply the following policy.

A penalty of 25% of the mark the student would otherwise have obtained, for each full (or part) day of lateness (e.g., 0 day 1 minute = 25% penalty, 2 days 21 hours = 75% penalty). Students who are late must submit their assessment item to the LIC via e-mail. The LIC will then upload documents to the relevant submission boxes. The date and time of reception of the e-mail determines the submission time for the purposes of calculating the penalty.

Protocol for Viewing Final Exam Scripts

The UNSW Business School has set a protocol under which students may view their final exam script. Individual schools within the Faculty may also set up a local process for viewing final exam scripts, so it is important that you check with your School. Further school specific information may be included below.

Quality Assurance

The Business School is actively monitoring student learning and quality of the student experience in all its programs. A random selection of completed assessment tasks may be used for quality assurance, such as to determine the extent to which program learning goals are being achieved. The information is required for accreditation purposes, and aggregated findings will be used to inform changes aimed at improving the quality of Business School programs. All material used for such processes will be treated as confidential.

5. Course Resources

Textbook

There are many books of relevance to the course topics. The following books will be the main text references for a substantial part of the course:

McNeil, A.J., R. Frey, and P. Embrechts, Quantitative Risk Management: Concepts, Techniques and Tools, 2nd Edition. Princeton Series in Finance, 2015.

Other References

Other texts that are useful references for the course coverage are:

Sweeting, P., Financial Enterprise Risk Management Cambridge University Press, 2011.
Denuit, M., J. Dhaene, M. Goovaerts and R. Kaas, Actuarial Theory for Dependent Risks, Wiley, 2005.
Kaas, R., M. Goovaerts, J. Dhaene, and M. Denuit, Modern Actuarial Risk Theory, Kluwer, 2001.
Klugman, S. A., H. H. Panjer and G. E. Willmot, Loss Models: From Data to Decisions, Wiley, 3nd Edition, 2008.
Taylor, G., Loss Reserving: An Actuarial Perspective, Kluwer, 2000.
Nelsen, R. B., An Introduction to Copulas, Springer, 1998.
Kotz, S. and S. Nadarajah, Extreme Value Distributions, Imperial College Press, 2000.
Bluhm, C., L. Overbeck, and C. Wagner, An Introduction to Credit Risk Modelling, Chapman and Hall, 2002.
Panjer, H. H. Operational Risk Modeling Analytics. Wiley, 2006.

Course Website

The course website is available from the UNSW TELT platform.

To access the online support site for students, follow the links from that website to Support for Students. Additional technical support can be obtained from itservicecentre@unsw.edu.au (+61 2 9385 1333).

All course contents will be available from the course website. It is essential that you visit the site regularly to see any notices posted there by the course coordinator, as it will be assumed that they are known to you within a reasonable time.

Actuaries Institute

The Actuaries Institute allows students to become University Subscribers free of charge. Full-time undergraduates studying at an Institute accredited university who are members of a university student actuarial society are eligible.

To sign up, go to http://www.actuaries.asn.au/Membership/MembershipoftheInstitute/Subscriber.aspx

6. Course Evaluation & Development

Feedback is regularly sought from students and continual improvements are made based on this feedback. At the end of this course, you will be asked to complete the myExperience survey, which provides a key source of student evaluative feedback. Your input into this quality enhancement process is extremely valuable in assisting us to meet the needs of our students and provide an effective and enriching learning experience. The results of all surveys are carefully considered and do lead to action towards enhancing educational quality.

Due to the ongoing COVID-19 pandemic, we (students and lecturers) are experiencing unprecedented difficulties. The structure and strategies of the course will have dramatic changes to ensure the high quality of learning and teaching of this course. For example, usual on-campus meetings will be unlikely, and instead we will conduct learning and teaching activities online.

Let us make a joint effort to achieve great successes on all goals of this course.

7. Course Schedule

Note: for more information on the UNSW academic calendar and key dates including study period, exam, supplementary exam and result release, please visit: https://student.unsw.edu.au/new-calendar-dates

Week	Activity	Topic	Assessment/Other
Week 1: 01 Jun 2020	Video Lecture	Introduction to Quantitative Risk Management Risk Measures (i)	–
Week 2: 08 Jun 2020	Video Lecture	Risk Measures (ii) Multivariate Models (i)	–
Week 3: 15 Jun 2020	Video Lecture	Multivariate Models (ii)	–
Week 4: 22 Jun 2020	Video Lecture	Multivariate Models (iii) Copulas and Dependence (i)	–
Week 5: 29 Jun 2020	Video Lecture	Copulas and Dependence (ii)	Take-home Exam
Week 6: 06 Jul 2020	Flexibility Week	No class	–
Week 7: 13 Jul 2020	Video Lecture	Financial Time Series	–
Week 8: 20 Jul 2020	Video Lecture	Extreme Value Theory	Assignment Due
Week 9: 27 Jul 2020	Video Lecture	Market Credit and Operational Risk Analytics (i)	–
Week 10: 03 Aug 2020	Video Lecture	Market, Credit, and Operational Risk Analytics (ii)	–
:	–	–	–

8. Policies and Support

Information about UNSW Business School protocols, University policies, student responsibilities and education quality and support.

Program Learning Outcomes

The Business School places knowledge and capabilities at the core of its curriculum via seven Program Learning Outcomes (PLOs). These PLOs are systematically embedded and developed across the duration of all coursework programs in the Business School.

PLOs embody the knowledge, skills and capabilities that are taught, practised and assessed within each Business School program. They articulate what you should know and be able to do upon successful completion of your degree.

Upon graduation, you should have a high level of specialised business knowledge and capacity for responsible business thinking, underpinned by ethical professional practice. You should be able to harness, manage and communicate business information effectively and work collaboratively with others. You should be an experienced problem-solver and critical thinker, with a global perspective, cultural competence and the potential for innovative leadership.

All UNSW programs and courses are designed to assess the attainment of program and/or course level learning outcomes, as required by the UNSW Assessment Design Procedure. It is important that you become familiar with the Business School PLOs, as they constitute the framework which informs and shapes the components and assessments of the courses within your program of study.

PLO 1: Business knowledge

Students will make informed and effective selection and application of knowledge in a discipline or profession, in the contexts of local and global business.

PLO 2: Problem solving

Students will define and address business problems, and propose effective evidence-based solutions, through the application of rigorous analysis and critical thinking.

PLO 3: Business communication

Students will harness, manage and communicate business information effectively using multiple forms of communication across different channels.

PLO 4: Teamwork

Students will interact and collaborate effectively with others to achieve a common business purpose or fulfil a common business project, and reflect critically on the process and the outcomes.

PLO 5: Responsible business practice

Students will develop and be committed to responsible business thinking and approaches, which are underpinned by ethical professional practice and sustainability considerations.

PLO 6: Global and cultural competence

Students will be aware of business systems in the wider world and actively committed to recognise and respect the cultural norms, beliefs and values of others, and will apply this knowledge to interact, communicate and work effectively in diverse environments.

PLO 7: Leadership development

Students will develop the capacity to take initiative, encourage forward thinking and bring about innovation, while effectively influencing others to achieve desired results.

These PLOs relate to undergraduate and postgraduate coursework programs. Separate PLOs for honours and postgraduate research programs are included under 'Related Documents'.

Business School course outlines provide detailed information for students on how the course learning outcomes, learning activities, and assessment/s contribute to the development of Program Learning Outcomes.

UNSW Graduate Capabilities

The Business School PLOs also incorporate UNSW graduate capabilities, a set of generic abilities and skills that all students are expected to achieve by graduation. These capabilities articulate the University’s institutional values, as well as future employer expectations.

UNSW Graduate Capabilities	Business School PLOs
Scholars capable of independent and collaborative enquiry, rigorous in their analysis, critique and reflection, and able to innovate by applying their knowledge and skills to the solution of novel as well as routine problems.	PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication PLO 4: Teamwork PLO 7: Leadership development
Entrepreneurial leaders capable of initiating and embracing innovation and change, as well as engaging and enabling others to contribute to change	PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication PLO 4: Teamwork PLO 6: Global and cultural competence PLO 7: Leadership development
Professionals capable of ethical, self-directed practice and independent lifelong learning	PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication PLO 5: Responsible business practice
Global citizens who are culturally adept and capable of respecting diversity and acting in a socially just and responsible way.	PLO 1: Business knowledge PLO 2: Problem solving PLO 3: Business communication PLO 4: Teamwork PLO 5: Responsible business practice PLO 6: Global and cultural competence

While our programs are designed to provide coverage of all PLOs and graduate capabilities, they also provide you with a great deal of choice and flexibility. The Business School strongly advises you to choose a range of courses that assist your development against the seven PLOs and four graduate capabilities, and to keep a record of your achievements as part of your portfolio. You can use a portfolio as evidence in employment applications as well as a reference for work or further study. For support with selecting your courses contact the UNSW Business School Student Centre.

Academic Integrity and Plagiarism

Academic Integrity is honest and responsible scholarship. This form of ethical scholarship is highly valued at UNSW. Terms like Academic Integrity, misconduct, referencing, conventions, plagiarism, academic practices, citations and evidence based learning are all considered basic concepts that successful university students understand. Learning how to communicate original ideas, refer sources, work independently, and report results accurately and honestly are skills that you will be able to carry beyond your studies.

The definition of academic misconduct is broad. It covers practices such as cheating, copying and using another person’s work without appropriate acknowledgement. Incidents of academic misconduct may have serious consequences for students.

Plagiarism

UNSW regards plagiarism as a form of academic misconduct. UNSW has very strict rules regarding plagiarism. Plagiarism at UNSW is using the words or ideas of others and passing them off as your own. All Schools in the Business School have a Student Ethics Officer who will investigate incidents of plagiarism and may result in a student’s name being placed on the Plagiarism and Student Misconduct Registers.

Below are examples of plagiarism including self-plagiarism:

Copying: Using the same or very similar words to the original text or idea without acknowledging the source or using quotation marks. This includes copying materials, ideas or concepts from a book, article, report or other written document, presentation, composition, artwork, design, drawing, circuitry, computer program or software, website, internet, other electronic resource, or another person's assignment, without appropriate acknowledgement of authorship.

Inappropriate Paraphrasing: Changing a few words and phrases while mostly retaining the original structure and/or progression of ideas of the original, and information without acknowledgement. This also applies in presentations where someone paraphrases another’s ideas or words without credit and to piecing together quotes and paraphrases into a new whole, without appropriate referencing.

Collusion: Presenting work as independent work when it has been produced in whole or part in collusion with other people. Collusion includes:

Students providing their work to another student before the due date, or for the purpose of them plagiarising at any time
Paying another person to perform an academic task and passing it off as your own
Stealing or acquiring another person’s academic work and copying it
Offering to complete another person’s work or seeking payment for completing academic work

Collusion should not be confused with academic collaboration (i.e., shared contribution towards a group task).

Inappropriate Citation: Citing sources which have not been read, without acknowledging the 'secondary' source from which knowledge of them has been obtained.

Self-Plagiarism: ‘Self-plagiarism’ occurs where an author republishes their own previously written work and presents it as new findings without referencing the earlier work, either in its entirety or partially. Self-plagiarism is also referred to as 'recycling', 'duplication', or 'multiple submissions of research findings' without disclosure. In the student context, self-plagiarism includes re-using parts of, or all of, a body of work that has already been submitted for assessment without proper citation.

To see if you understand plagiarism, do this short quiz: https://student.unsw.edu.au/plagiarism-quiz

Cheating

The University also regards cheating as a form of academic misconduct. Cheating is knowingly submitting the work of others as their own and includes contract cheating (work produced by an external agent or third party that is submitted under the pretences of being a student’s original piece of work). Cheating is not acceptable at UNSW.

If you need to revise or clarify any terms associated with academic integrity you should explore the 'Working with Academic Integrity' self-paced lessons available at: https://student.unsw.edu.au/aim.

For UNSW policies, penalties, and information to help you avoid plagiarism see: https://student.unsw.edu.au/plagiarism as well as the guidelines in the online ELISE tutorials for all new UNSW students: http://subjectguides.library.unsw.edu.au/elise. For information on student conduct see: https://student.unsw.edu.au/conduct.

For information on how to acknowledge your sources and reference correctly, see: https://student.unsw.edu.au/referencing. If you are unsure what referencing style to use in this course, you should ask the lecturer in charge.

Student Responsibilities and Conduct

Students are expected to be familiar with and adhere to university policies in relation to class attendance and general conduct and behaviour, including maintaining a safe, respectful environment; and to understand their obligations in relation to workload, assessment and keeping informed.

Information and policies on these topics can be found on the 'Managing your Program' website.

Workload

It is expected that you will spend at least ten to twelve hours per week studying for a course except for Summer Term courses which have a minimum weekly workload of twenty to twenty four hours. This time should be made up of reading, research, working on exercises and problems, online activities and attending classes. In periods where you need to complete assignments or prepare for examinations, the workload may be greater. Over-commitment has been a cause of failure for many students. You should take the required workload into account when planning how to balance study with employment and other activities.

We strongly encourage you to connect with your Moodle course websites in the first week of semester. Local and international research indicates that students who engage early and often with their course website are more likely to pass their course.

View more information on expected workload

Attendance

Your regular and punctual attendance at lectures and seminars or in online learning activities is expected in this course. The Business School reserves the right to refuse final assessment to those students who attend less than 80% of scheduled classes where attendance and participation is required as part of the learning process (e.g., tutorials, flipped classroom sessions, seminars, labs, etc.).

View more information on attendance

General Conduct and Behaviour

You are expected to conduct yourself with consideration and respect for the needs of your fellow students and teaching staff. Conduct which unduly disrupts or interferes with a class, such as ringing or talking on mobile phones, is not acceptable and students may be asked to leave the class.

View more information on student conduct

Health and Safety

UNSW Policy requires each person to work safely and responsibly, in order to avoid personal injury and to protect the safety of others.

View more information on Health and Safety

Keeping Informed

You should take note of all announcements made in lectures, tutorials or on the course web site. From time to time, the University will send important announcements to your university e-mail address without providing you with a paper copy. You will be deemed to have received this information. It is also your responsibility to keep the University informed of all changes to your contact details.

Student Support and Resources

The University and the Business School provide a wide range of support services and resources for students, including:

Business School EQS Consultation Program
The Consultation Program offers academic writing, literacy and numeracy consultations, study skills, exam preparation for Business students. Services include workshops, online resources, individual and group consultations.
Level 1, Room 1035, Quadrangle Building.
BUS.EQS.Consultations@unsw.edu.au
02 9385 4508

Communication Resources
The Business School Communication and Academic Support programs provide online modules, communication workshops and additional online resources to assist you in developing your academic writing.

Business School Student Centre
The Business School Student Centre provides advice and direction on all aspects of admission, enrolment and graduation.
Level 1, Room 1028 in the Quadrangle Building
02 9385 3189

UNSW Learning & Careers Hub
The UNSW Learning & Careers Hub provides academic skills and careers support services—including workshops, individual consultations and a range of online resources—for all UNSW students. See their website for details.
Lower Ground Floor, North Wing Chancellery Building.
learningcentre@unsw.edu.au
02 9385 2060

Student Support Advisors
Student Support Advisors work with all students to promote the development of skills needed to succeed at university, whilst also providing personal support throughout the process.
John Goodsell Building, Ground Floor.
advisors@unsw.edu.au
02 9385 4734

International Student Support
The International Student Experience Unit (ISEU) is the first point of contact for international students. ISEU staff are always here to help with personalised advice and information about all aspects of university life and life in Australia.
Advisors can support you with your student visa, health and wellbeing, making friends, accommodation and academic performance.
International.student@unsw.edu.au
02 9385 4734

Equitable Learning Services
Equitable Learning Services (formerly Disability Support Services) is a free and confidential service that provides practical support to ensure that your health condition doesn't adversely affect your studies. Register with the service to receive educational adjustments.
Ground Floor, John Goodsell Building.
els@unsw.edu.au
02 9385 4734

UNSW Counselling and Psychological Services
Provides support and services if you need help with your personal life, getting your academic life back on track or just want to know how to stay safe, including free, confidential counselling.
Level 2, East Wing, Quadrangle Building.
counselling@unsw.edu.au
02 9385 5418

Library services and facilities for students
The UNSW Library offers a range of collections, services and facilities both on-campus and online.
Main Library, F21.
02 9385 2650

Moodle eLearning Support
Moodle is the University’s learning management system. You should ensure that you log into Moodle regularly.
externalteltsupport@unsw.edu.au
02 9385 3331

UNSW IT
UNSW IT provides support and services for students such as password access, email services, wireless services and technical support.
UNSW Library Annexe (Ground floor).
02 9385 1333

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Accreditation

ACTL4301 Models for Risk Management - 2020

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1. Course Details

Summary of Course

Teaching Times and Locations

Course Policies & Support

Course Aims and Relationship to Other Courses

Student Learning Outcomes

2. Staff Contact Details

3. Learning and Teaching Activities

Approach to Learning and Teaching in the Course

Learning Activities and Teaching Strategies

4. Assessment

Formal Requirements

Assessment Structure

Assessment Summary

Take-home Exam (5%)

Assignment (25%)

Final Exam (70%)

Assignment Submission Procedure

Assessment Feedback

Special Consideration

Special consideration and assessments other than the Final Exam in undergraduate and postgraduate courses

Late submission of assessment items

Protocol for Viewing Final Exam Scripts

Quality Assurance

5. Course Resources

Textbook

Other References

Course Website

Actuaries Institute

6. Course Evaluation & Development

7. Course Schedule

8. Policies and Support

RELATED DOCUMENTS

UNSW Graduate Capabilities

Plagiarism

Cheating

Workload

Attendance

General Conduct and Behaviour

Health and Safety

Keeping Informed

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