ACTL3151 Course Outlines - Semester 1 2018 | Life Contingencies

Subject Code

ACTL3151

Study Level

Undergraduate

Commencing Term

Semester 1

Total Units of Credit (UOC)

Delivery Mode

On Campus

School

Risk & Actuarial Studies

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1. Course Details

Summary of Course

This course covers the actuarial mathematics and models for use in the analysis and actuarial management of life insurance and superannuation contracts. Topics include: the main forms of life insurance and annuity contracts; disability and long term care contracts and superannuation fund benefits; actuarial notation and the life table; moments of the value of the benefit payments; Thiele’s differential equation for policy values; stochastic modelling of claims and benefit payments; gross premiums, net premiums, policy values and reserves; allowing for expenses and inflation; use of discounted emerging costs and profit tests; termination and alteration values; cost of guarantees; joint life functions.

This course covers material in the Subject CT5 Contingencies of the Institute of Actuaries.

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

View course Policies and Support

Course Aims and Relationship to Other Courses

At the end of the course students should be able to:

apply survival models to the pricing and valuation of life insurance and pension contracts
apply multiple state models to the pricing and valuation of life insurance and pension contracts
understands the main forms of insurance and pension contract and their actuarial aspects.

The primary aim of this course is to provide students with an understanding of the mathematical concepts and techniques that are used to model and value cash flows contingent on survival, death and other uncertain events.

This course covers the mathematical foundations of life insurance and superannuation models. The assumed knowledge for this course are the courses in the actuarial major including ACTL1101, ACTL2102, ACTL2111 and ACTL2131. Students enrolled in the combined Bachelor of Actuarial Studies / Bachelor of Science program should have completed the statistics/mathematics courses in place of ACTL2131. The course should normally be taken at the same time as ACTL3141 Actuarial Models and Statistics.

Students should have a solid background in mathematics and are assumed to be able to use a computer to analyse financial and/or statistics problems. You should be able to use a word processing package (such as WORD) and a spreadsheet (such as EXCEL).

Student Learning Outcomes

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

The Learning Outcomes in this course also help you to achieve some of the overall Program Learning Goals and Outcomes for all undergraduate and postgraduate coursework students in the Business School. Program Learning Goals are what we want you to BE or HAVE by the time you successfully complete your degree (e.g. ‘be an effective team player’). You demonstrate this by achieving specific Program Learning Outcomes - what you are able to DO by the end of your degree (e.g. ‘participate collaboratively and responsibly in teams’).

For more information on Program Learning Goals and Outcomes, refer to the course Policies and Support.

The following table shows how your Course Learning Outcomes relate to the overall Program Learning Goals and Outcomes, and indicates where these are assessed (they may also be developed in tutorials and other activities):

Program Learning Goals and Outcomes	Course Learning Outcomes	Course Assessment Item
This course helps you to achieve the following learning goals for all Business undergraduate/postgraduate coursework students:	On successful completion of the course, you should be able to:	This learning outcome will be assessed in the following items:
1 - Knowledge	Explain and apply the fundamental techniques used to value cash flows involving death, survival and other similar contingent events. Assess risk inherent in cash flows resulting from these contingent events. Describe the life insurance and life annuity products that may be available in the market. Explain the basic valuation and funding of superannuation benefits. State and apply contingent valuation concepts to practical situations.	Tutorial Problems Mid-session exam Final Exam
2 - Critical thinking and problem solving	State and apply contingent valuation concepts to practical situations. Assess calculations of premiums and policy values of financial contingent products for reasonableness. Integrate and apply these technical skills to practical valuation problems in the life insurance and annuity markets.	Tutorial Problems Mid-session exam Final Exam
3a - Written communication	Present orally and explain Life insurance and superannuation problems in simple terms. Communicate ideas in a succinct and clear manner.	Assignment Mid-session exam Final exam
3b - Oral communication	Present orally and explain Life insurance and superannuation problems in simple terms.	Tutorial presentation and participation
4 - Teamwork	Participate collaboratively and responsibly in teams, and reflect on their own teamwork, and on the team’s processes and ability to achieve outcomes Work collaboratively to complete a task.	Group assignment
5a - Ethical, social and environmental responsibility	–	–
5b - Social and cultural awareness	–	–

2. Staff Contact Details

Position	Title	Name	Email	Location	Phone	Consultation Times
Senior Lecturer	Dr	Jinxia Zhu		Rm 652, Level 6, East Wing, Business School Bldg	9385 7385	–

Communication with staff

The Course Co-ordinator and Lecturer-in-charge is Dr Jinxia Zhu. She is responsible for teaching and assessment of the course. Dr Zhu will hold weekly consultations. Her consultation times will be posted on the course Moodle web site.

This course has several tutors. The names of the tutors will be announced on the course website. They are responsible for tutorials and grading of the mid-term exam and assignment tasks. The tutors will hold consultation in the week before any in-session assessment. Their consultation times will also be posted on the course Moodle web site.

3. Learning and Teaching Activities

Approach to Learning and Teaching in the Course

The approach adopted in this course is one of assisted self-study. The approach adopted in this course is called “flipped and blended” classroom. The main rationale for this “flipped and blended” structure is twofold. First, it frees up class time which can now be used to do in–class exercises and learning-by-doing activities, which aim at enhancing students’ long-lasting (deep) learning. Second, it brings a significant portion of the face-to-face time later in the learning process, when students are more comfortable with the materials, and more likely to interact and ask questions.

In this flipped and blended approach, the first conceptual encounter with the materials of a given module happens in class through a learn-by-doing activity to spark the students’ interest in the topic and to provide a context for the subsequent video lectures. The second conceptual encounter with the materials happens at home when students watch video lectures. These video lectures are accompanied by Moodle forums which provide the students with an immediate opportunity for asking questions on their understanding of the material. Consultation is also available. Then, everyone gathers in the lecture room for a “lectorial”. The word combines lectures—because they are run by the lecturer, and with the whole group, and tutorial—because their goal is not to “lecture” students. By contrast, in this lectorial, the lecturer first provides a high level summary of the key concepts of the module and then moves on to other activities (such as discussions, advanced exercises, guest lectures, real life applications) that aim to cement students’ learning. Finally, the students move on to practicing their knowledge with tutorial exercises and computer exercises in R. Tutorial sessions aim to provide some additional face-to-face and personalised help.

Course materials are organised in 10 modules. Students are responsible to learn topics with the following materials:

Prescribed books (and recommended books for additional support)
Video lectures available on the course web site
Tutorial exercises with solutions
Past quizzes and exams for advanced exercises

It is expected the students will take a pro-active approach to learning. It is recommended to have read all prescribed readings, watched the associated videos prior to the associated module’s lectorial and then attempted the tutorial exercises, in order to complete the module by the end of the lectorial.

It is expected that you will spend at least ten hours per week studying this course. In periods where you need to complete assignments or prepare for examinations, the workload may be greater. Over-commitment (to extra-curricular activities) 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. In the past, students have found the amount of contents particularly challenging. Don’t allow yourself to fall behind the schedule!

Learning Activities and Teaching Strategies

It is expected that the students will take a pro-active approach to learning. The course is organised in the following learning activities.

Video lectures and Self-study

During the time periods of self-study, students should cover the readings, video lectures and tutorials for the associated module. A required learning strategy for this course is to have read all prescribed readings and watched the associated video lectures before lectorials.

Lectorials

Lectorials are there to wrap up modules, to solve advanced exercises and to answer the students’ questions. Students should have read the prescribed books and watched the videos prior to the lectorials. No course contents will be taught during the lectures. Students are encouraged to prepare questions and communicate them to the lecturer in advance (although this is not required).

Tutorials

The more you read the more you know, but the more you practice the more you learn and understand. So the key to the understanding of this course is problem solving. Tutorials are planned throughout the time allocated to a module’s learning. Tutorials are for students to ask questions on aspects of the course that need further clarification and to interact with other students in the course. Students need to attempt the tutorial exercises prior to the tutorial classes and identify problems that require closer review during tutorials. They are an opportunity to learn from other students and to develop team skills by working on problems with other students.

The purpose of tutorials is to enable you to raise questions about difficult topics or problems encountered in their studies. Students must not expect another lecture – they and their questions should drive what is discussed during a tutorial.

A good learning strategy for the tutorials is:

Prior to make an attempt of the exercises, review your lecture notes and videos.
Prior to the tutorial, make an attempt to the exercises you should make before the tutorial .
During the tutorial, make an attempt to the exercises you should make in the tutorial .
After the tutorial, make an attempt to the exercises you should make after the tutorial .
If you have questions about the tutorial exercises, ask them to your tutor. If you think you have a good understanding of the material, you should try and answer the questions of your peers. This will give you feedback on your ability to explain the material and hence how well you know the material.
Check your answer using the tutorial solution.

4. Assessment

Formal Requirements

In order to pass this course, you must:

achieve a composite mark of at least 50 out of 100;
achieve a satisfactory result on any essential assessment components; and
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
Tutorial Presentation	5%	Max 7 minutes	To be advised on Moodle web site
Mid-Session Exam	15%	1 hour	Thursday 12 April 1:15 pm
Assignment	15%	–	Wednesday 16 May 11:55 pm
Final Exam	65%	2 hours	University Exam Period
Total	100%	–	–

Assessment Summary

You should complete the Working with Academic Integrity module before submitting any written assessment by the due date. Non-compliance with the UNSW Student Code may result in disciplinary action.

Tutorial Presentation

Communication skills is one of the most important graduate attributes that employers of commerce and actuarial graduates require. Students need to be able to explain complex financial concepts and problems in simple terms and to be able to explain why their answer is reasonable. Tutorial presentations will provide the students an opportunity to develop this skill.

During the session, students will be allocated a tutorial presentation. Each tutorial presentation consists of an oral presentation. Failure to appear on time for an oral presentation will result in a zero mark unless a satisfactory reason is given in writing to the Course Coordinator.

Marks will be assigned based on the presentation assessment criteria that are provided on the course website. Students should review this before their presentation.

Mid-term exam

There will be one written answer mid-session exam in week 6 of 60 minutes duration. The mid-term exam will take place on Thursday 12 April 2018 from 1:15pm. The location will be advised on the course website. The mid-session exam will be closed book. Students will only be allowed to bring the text "Formulae and Tables for Actuarial Examinations".

Normal examination rules apply to the conduct of mid-term exams. Calculators will be allowed in the mid-term and final examination 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 course exams require written responses, with students earning marks for correct mathematical working as well as part marks for incorrect responses with correct method and reasoning. They test not only their knowledge of the material, but also the depth of their understanding of it.

Assignment

The practical application of the course concepts based on actual financial market problems is an important graduate attribute that employers require and this course aims to provide at least some introductory exposure to this. Writing skills for technical material are also important.

There will be one Assignment for this course. The assignment will involve the practical application of course concepts to actuarial problems. The assignment will be a group assignment. Students will be assigned to a group within their tutorial classes. Each group will be required to submit an assignment report and each student will also need to complete a peer evaluation form to rate the other group members’ contribution to the group work in his/her group and submit a Personal Reflection.

The assignment offers students the opportunity to engage in critical analysis, problem solving, team work and self-reflection, as well as to demonstrate their understanding of the concepts and perspectives that are central to actuarial studies. The assignment assists in the development of Program Learning Goals and Outcomes 1, 2, 3 and 4.

The assignment report will be assessed on technical accuracy, how well it is written, and the quality of the assignment presentation. The group process will be assessed by peer evaluation and personal reflection.

The assignment questions, together with the marks allocated to all components of the assignment, will be made available to students on the course website. A guide on effective teamwork will also be posted on the course website.

Final examination

The final examination will assess students understanding of the concepts covered in the course and readings and their ability to apply them to practical problems. The final examination will be a two hour written paper. The final examination will be closed book. Students will only be allowed to bring the text "Formulae and Tables for Actuarial Examinations" into the exam. This must not be annotated.

Assignment Submission Procedure

Assignment reports must be submitted via the Turnitin submission box that is available on the course website. Turnitin reports on any similarities between their own cohort’s assignments, and also with regard to other sources (such as the internet or all assignments submitted all around the world via Turnitin). More information is available at:

http://elearning.unsw.edu.au/turnitin/content/TurnItIn_Student_Support.cfm?ss=0

Please read this page, as we will assume that its content is familiar to you. You will be able to make multiple submissions and have access to the originality reports.

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.

Late Submission

For information on Special Consideration please refer to the course Policies and Support.

Special consideration for Final Exams

The lecturer-in-charge will need to be satisfied on each of the following before supporting a request for special consideration:

Does the medical certificate contain all relevant information? For a medical certificate to be accepted, the degree of illness, and impact on the student, must be stated by the medical practitioner (severe, moderate, mild). A certificate without this will not be valid.
Has the student performed satisfactorily in the other assessment items? Satisfactory performance would require at least a pass (50%) in all in-session assessments so far and meeting the obligation to have attended 80% of face to-face components.
Does the student have a history of previous applications for special consideration? A history of previous applications may preclude a student from being granted special consideration.

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 assessment items for which special consideration is granted is re-allocated to the Final Exam. Alternatively, in exceptional cases and only for assessment items with a submission deadline, a delayed deadline may be granted. This may be no more than 5 business days after the initial deadline, and must be before feedback is provided to students.

Special consideration does not entitle students to a supplementary opportunity to complete the assessment item.

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. Read more about the Business School's final exam script protocol.

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.

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.

5. Course Resources

The prescribed textbook for the course is:

D. C. M. Dickson, M. R. Hardy and H. R. Waters, 2nd edition, (2013), Actuarial Mathematics for Life Contingent Risks, Cambridge University Press [A solutions manual is available for purchase. The Solutions manual is strongly encouraged, as solutions to problems assigned from the textbook for tutorials will not be provided.]

Additional, recommended references are:

Life insurance mathematics. Gerber, H. U. 3rd ed. Springer; Swiss Association of Actuaries, 1997. 217 pages
Actuarial mathematics. Bowers, N. L.; Gerber, H. U.; Hickman, J. C. et al. 2nd ed. Society of Actuaries, 1997. 753 pages.
Core Reading for Subject CT5 Contingencies published by The Institute of Actuaries
ActEd Course Notes for Subject CT5 Contingencies.

The course draws on and further develops concepts covered in ACTL2111 (Financial Mathematics) and ACTL2102 (Markov Chains). Students should review these concepts as required early in the course.

Formulae & Tables

The only text students are allowed to bring into the examinations for the actuarial course is the text "Formulae and Tables for Actuarial Examinations". It must not be annotated. All students in the actuarial courses should purchase a copy of this text if they wish to use it in tutorials, mid-session exams and the final examinations. The text is available from the UNSW Bookstore, the UK Institute of Actuaries or from ActEd. Visit the ActEd website.

Course website

The course Moodle website is available from the UNSW TELT platform:

To access the Moodle online support site for students, follow the links from that website to UNSW Moodle Support/Support for Students. Additional technical support can be obtained from itservicecentre@unsw.edu.au (02 9385 1333). All course contents will be available from the course website (except for the module “Back to Basics” which is available on the ACTL all students website). It is essential that you visit the site regularly (at least weekly) to see any notices posted there by the course coordinator.

The Actuaries Institute

The Actuaries Institute (AI) allows students to become AI 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.

Module 1: Life insurances benefits (single life)

Activity

Video Lectures

Topic

Module 2: Life annuities (single life)

Module 3: Net Premium Valuation

Week 4: 19 Mar

Activity

Lectorial

Topic

Module 3: Net Premium Valuation

Activity

Tutorial

Topic

Module 3: Net Premium Valuation

Assessment/Other

Oral presentations

Activity

Video Lectures

Topic

Module 4: Premium Reserves and Policy Values I

Topic

Module 6: Profit Testing I

Video Lectures

Topic

Module 7: Multiple Decrement Models II

Video Lectures

Topic

Topic

Assignment

Assessment/Other

Assignment due on Thursday 17 May 11:50 pm.

Week 12: 21 May

Activity

Lectorial

Topic

Module 10: Pension funds

Activity

Tutorial

Topic

Module 10: Pension funds

Assessment/Other

Oral presentations

Week 13: 28 May

Activity

Tutorial

Topic

Module 10: Pension funds

Assessment/Other

Oral presentations

8. Policies

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

Program Learning Goals and Outcomes

The Business School Program Learning Goals reflect what we want all students to BE or HAVE by the time they successfully complete their degree, regardless of their individual majors or specialisations. For example, we want all our graduates to HAVE a high level of business knowledge and a sound awareness of ethical, social, cultural and environmental implications of business. As well, we want all our graduates to BE effective problem-solvers, communicators and team participants.

You can demonstrate your achievement of these goals by the specific outcomes you achieve by the end of your degree (i.e. Program Learning Outcomes—henceforth PLOs). These PLOs articulate what you need to know and be able to do as a result of engaging in learning. They embody the knowledge, skills and capabilities that are identified, mapped, taught, practised and assessed within each Business School program.

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

Program Learning Outcomes

Undergraduate
Postgraduate Coursework

Knowledge	You should be able to identify and apply disciplinary knowledge to business situations in a local and global environment.
Critical thinking and problem solving	You should be able to identify and research issues in business situations, analyse the issues, and propose appropriate and well-justified solutions.
Written communication	You should be able to prepare written documents that are clear, concise and coherent, using appropriate style and presentation for the intended audience, purpose and context.
Oral communication	You should be able to prepare and deliver oral presentations that are clear, focussed, well-structured, and delivered in a professional manner.
Teamwork	You should be able to participate collaboratively and responsibly in teams, and reflect on your own teamwork, and on the team’s processes and ability to achieve outcomes.
Ethical, social and environmental responsibility	You should be able to identify and assess ethical, environmental and/or sustainability considerations in business decision-making and practice. You should be able to identify social and cultural implications of business.
Workplace skills (Co-op programs only)	You should be able to conduct yourself in a professional manner in the work environment, communicate effectively in diverse workplace situations and be able to apply discipline knowledge and understanding to real business problems with initiative and self-direction.
Related PLO Documents	View the Undergraduate Honours PLOs (pdf)

Knowledge	You should be able to identify and apply current knowledge of disciplinary or interdisciplinary theory and professional practice to business in local and global environments.
Critical thinking and problem solving	You should be able to identify, research and analyse complex issues and problems in business and/or management, and propose appropriate and well-justified solutions.
Written communication	You should be able to produce written documents that communicate complex disciplinary ideas and information effectively for the intended audience and purpose.
Oral communication	You should be able to produce oral presentations that communicate complex disciplinary ideas and information effectively for the intended audience and purpose.
Teamwork	You should be able to participate collaboratively and responsibly in teams, and reflect on your own teamwork, and on the team’s processes and ability to achieve outcomes.
Ethical, social and environmental responsibility	You should be able to identify and assess ethical, environmental and/or sustainability considerations in business decision-making and practice. You should be able to identify social and cultural implications of business.
Related PLO Documents	View the Master of Philosophy PLOs (pdf) View the Doctor of Philosophy PLOs (pdf)

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.	Critical thinking and problem solving Knowledge Oral communication Research capability Teamwork Workplace skills Written communication
Entrepreneurial leaders capable of initiating and embracing innovation and change, as well as engaging and enabling others to contribute to change	Critical thinking and problem solving Knowledge Oral communication Workplace skills Written communication
Professionals capable of ethical, self- directed practice and independent lifelong learning	Ethical, social and environmental responsibility Workplace skills
Global citizens who are culturally adept and capable of respecting diversity and acting in a socially just and responsible way.	Ethical, social and environmental responsibility Oral communication Written communication

The Business School strongly advises you to choose a range of courses that assist your development against these PLOs and graduate capabilities, and to keep a record of your achievements as part of your portfolio. You could use these records 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 nine to ten hours per week studying for a course except for Summer Term courses which have a minimum weekly workload of eighteen to twenty 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.

Special Consideration

You must submit all assignments and attend all examinations scheduled for your course. You can apply for special consideration when illness or other circumstances beyond your control, interfere with your performance in a specific assessment task or tasks. Special Consideration is primarily intended to provide you with an extra opportunity to demonstrate the level of performance of which you are capable.

General information on special consideration for undergraduate and postgraduate courses can be found in the Assessment Implementation Procedure and the Current Students page.

Please note the following:

Applications will not be accepted by teaching staff. The lecturer-in-charge will be automatically notified when you lodge an online application for special consideration
Decisions and recommendations are only made by lecturers-in-charge (or by the Faculty Panel in the case of final exam special considerations), not by tutors
Applying for special consideration does not automatically mean that you will be granted a supplementary exam or other concession
Special consideration requests do not allow lecturers-in-charge to award students additional marks

Business School Protocol on requests for Special Consideration

The lecturer-in-charge will need to be satisfied on each of the following before supporting a request for special consideration:

Does the medical certificate contain all relevant information? For a medical certificate to be accepted, the degree of illness and its impact on the student must be stated by the medical practitioner (severe, moderate, mild). A certificate without this will not be valid. Students should also note that only medical certificates issued after physically visiting a registered medical practitioner will be accepted. Medical certificates submitted for Special Consideration should always be requested from a registered medical practitioner that you have seen at a medical practice. Certificates obtained online or via social media may be fraudulent and if relied upon could result in a breach of the UNSW Student Code.
Has the student performed satisfactorily in the other assessment items? To understand what Satisfactory Performance means in this course, please refer to the 'Formal Requirements' section in Part A of your Course Outline

Special Consideration and the Final Exam in undergraduate and postgraduate courses

Applications for special consideration in relation to the final exam are considered by a Business School Faculty panel to which lecturers-in-charge provide their recommendations for each request. If the Faculty panel grants a special consideration request, this will entitle the student to sit a supplementary examination. No other form of consideration will be granted. The following procedures will apply:

Supplementary exams will be scheduled centrally and will be held approximately two weeks after the formal examination period.

Supplementary exams for Semester 1, 2018 will be held during the period 14 - 21 July, 2018. Students wishing to sit a supplementary exam will need to be available during this period.

The date for all Business School supplementary exams for Summer Term 2017/2018 is Wednesday, 21 February, 2018. If a student lodges a special consideration for the final exam, they are stating they will be available on this date. Supplementary exams will not be held at any other time.
Where a student is granted a supplementary examination as a result of a request for special consideration, the student’s original exam (if completed) will be ignored and only the mark achieved in the supplementary examination will count towards the final grade. Absence from a supplementary exam without prior notification does not entitle the student to have the original exam paper marked, and may result in a zero mark for the final exam.

The Supplementary Exam Protocol for Business School students is available at: http://www.business.unsw.edu.au/suppexamprotocol

For special consideration for assessments other than the final exam refer to the ‘Assessment Section’ in your course outline.

Protocol for Viewing Final Exam Scripts

The UNSW Business School has set a protocol under which students may view their final exam script. Please check the protocol here.

Given individual schools within the Faculty may set up a local process for viewing final exam scripts, it is important that you check with your School whether they have any additional information on this process. Please note that this information might also be included in your course outline.

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

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 Centre
The UNSW Learning Centre provides academic skills support services, including workshops and resources, for all UNSW students. See their website for details.
Lower Ground Floor, North Wing Chancellery Building.
learningcentre@unsw.edu.au
02 9385 2060

Educational Support Service
Educational 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. Check their website to request an appointment or to register in the Academic Success Program.
John Goodsell Building, Ground Floor.
advisors@unsw.edu.au
02 9385 4734

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).
itservicecentre@unsw.edu.au
02 9385 1333

Disability Support Services
UNSW Disability Support Services provides assistance to students who are trying to manage the demands of university as well as a health condition, learning disability or who have personal circumstances that are having an impact on their studies. Disability Advisers can arrange to put in place services and educational adjustments to make things more manageable so that students are able to complete their course requirements. To receive educational adjustments for disability support, students must first register with Disability Services.
Ground Floor, John Goodsell Building.
disabilities@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

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Accreditation

ACTL3151 Life Contingencies - 2018

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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

Communication with staff

3. Learning and Teaching Activities

Approach to Learning and Teaching in the Course

Learning Activities and Teaching Strategies

Video lectures and Self-study

Lectorials

Tutorials

4. Assessment

Formal Requirements

Assessment Structure

Assessment Summary

Assignment Submission Procedure

Late Submission

Special consideration for Final Exams

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

Formulae & Tables

Course website

The Actuaries Institute

6. Course Evaluation & Development

7. Course Schedule

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