School of Architecture, Science and technology
Yashwantrao Chavan Maharashtra Open University
Syllabus
V48: PG Dip in Actuarial
Applications
2011
AST, YCMOU, NASHIK – 422 222, MS, INDIA
CONTENTS
Basic Information ................................................................................................................... 3
Programme Calendar.............................................................................................................. 3
Eligibility and Fees .................................................................................................................. 4
Semesters and Courses ........................................................................................................... 4
Evaluation Pattern.................................................................................................................. 4
PG Diploma in Actuarial Applications ....................................................................................... 6
Semester 01 ............................................................................................................................. 6
S07011: Life Insurance - I ........................................................................................................ 6
Programme Information ........................................................................................................... 6
Course Information .................................................................................................................. 6
Presumed Knowledge and Learning Objectives ........................................................................ 6
Units ......................................................................................................................................... 6
Details Syllabus ......................................................................................................................... 7
Learning Resource Details ........................................................................................................ 7
S07012: Life Insurance - II ....................................................................................................... 8
Programme Information ........................................................................................................... 8
Course Information .................................................................................................................. 8
Presumed Knowledge and Learning Objectives ........................................................................ 8
Units ......................................................................................................................................... 8
Details Syllabus ......................................................................................................................... 9
Learning Resource Details ........................................................................................................ 9
S07013: Finance and Investments - I ..................................................................................... 10
Programme Information ......................................................................................................... 10
Course Information ................................................................................................................ 10
Presumed Knowledge and Learning Objectives ...................................................................... 10
Units ....................................................................................................................................... 10
Details Syllabus ....................................................................................................................... 11
Learning Resource Details ...................................................................................................... 11
S07014: Finance and Investment - II...................................................................................... 12
Programme Information ......................................................................................................... 12
Course Information ................................................................................................................ 12
Presumed Knowledge and Learning Objectives ...................................................................... 12
Units ....................................................................................................................................... 12
Details Syllabus ....................................................................................................................... 13
Learning Resource Details ...................................................................................................... 13
S07015: Modeling for Health Insurance ................................................................................ 15
Programme Information ......................................................................................................... 15
Course Information ................................................................................................................ 15
Presumed Knowledge and Learning Objectives ...................................................................... 15
Units ....................................................................................................................................... 15
Details Syllabus ....................................................................................................................... 16
Learning Resource Details ...................................................................................................... 16
Semester 02 ........................................................................................................................... 18
S07021: Asset and Liability Management - I .......................................................................... 18
Programme Information ......................................................................................................... 18
Course Information ................................................................................................................ 18
Presumed Knowledge and Learning Objectives ...................................................................... 18
Units ....................................................................................................................................... 18
Details Syllabus ....................................................................................................................... 19
Learning Resource Details ...................................................................................................... 19
Syllabus For V48: PG Dip (Actuarial Applications)
Page 1
S07022: Asset and Liability Management-II ........................................................................... 21
Programme Information ......................................................................................................... 21
Course Information ................................................................................................................ 21
Presumed Knowledge and Learning Objectives ...................................................................... 21
Units ....................................................................................................................................... 21
Details Syllabus ....................................................................................................................... 22
Learning Resource Details ...................................................................................................... 22
S07023: Asset and Liability Management - III ........................................................................ 24
Programme Information ......................................................................................................... 24
Course Information ................................................................................................................ 24
Presumed Knowledge and Learning Objectives ...................................................................... 24
Units ....................................................................................................................................... 24
Details Syllabus ....................................................................................................................... 25
Learning Resource Details ...................................................................................................... 25
S07024: Retirement Benefits Modeling ................................................................................. 27
Programme Information ......................................................................................................... 27
Course Information ................................................................................................................ 27
Presumed Knowledge and Learning Objectives ...................................................................... 27
Units ....................................................................................................................................... 27
Details Syllabus ....................................................................................................................... 28
Learning Resource Details ...................................................................................................... 29
S07025: Actuarial Project...................................................................................................... 30
Programme Information ......................................................................................................... 30
Course Information ................................................................................................................ 30
Presumed Knowledge and Learning Objectives ...................................................................... 30
Activities ................................................................................................................................. 30
Details Syllabus ....................................................................................................................... 31
Learning Resource Details ...................................................................................................... 33
Syllabus For V48: PG Dip (Actuarial Applications)
Page 2
SYLLABUS FOR
V48: PG DIP (ACTUARIAL APPLICATIONS)
BASIC INFORMATION
1.
2.
3.
4.
5.
6.
Mode of Education: Full time residential face-to-face mode of education enhanced with
ELearning support.
Minimum Programme Duration: 3 years after HSC (12th) or Equivalent
Required Study Efforts: 720 Hours in each semester
Medium of Instruction: English
Attendance: Minimum 75% attendance for all courses.
Equivalence Status:
a.
UGC recognized and approved
b. DEC recognized and approved
c.
Study centers approved by Directorate General of Shipping
d. Recognized by Government of Maharashtra for MPSC jobs
PROGRAMME CALENDAR
SN Activity Description
Admission
01 Further Admission
02 Fresh Admission
Teaching - Learning
03 Teaching - Learning
04 Teaching–Learning Backlog Clearing
End Exam (EE) Form Submission
05 EE Form Submission by students at SC
06 EE Form Submission by SCs at University
Continuous Assessment (CA) Submission
07 CA Availability on website
08 CA Submission by Students at SC
09 Provisional CA Report by SCs
10 Final CA Report Submission by SCs at
University
End Examination (EE)
11 EE for Theory Courses
12 EE for Practical, STW, SV or PW Courses
Semester End Vacation
13 Semester End Vacation
Odd semesters like
01, 03, 05 and 07
From 01-Aug Till 31 Jan
Even semesters like
02, 04, 06 and 08
From 01-Feb Till 31-Jul
From 05-Jun Till 05-Jul
From 05-Jun Till 05-Aug
Not Offered
Not Offered
From 01-Aug Till 13 Nov From 01-Feb Till 16-May
From 14-Nov to 04-Dec From 17-May to 04-Jun
On or Before 30-Sep
On or Before 05-Oct
On or Before 31-Mar
On or Before 05-Apr
From 01-Aug Till 30 Nov From 01-Feb Till 30-May
01-30 Nov
01-30 May
On or before 31-Dec
On or before 30-Jun
On or before 31-Jan
On or before 31-Jul
From 05-Dec Till 14-Dec From 05-Jun Till 14-Jun
Immediately after the
Immediately after the
last day of end exam for last day of end exam for
theory courses, but
theory courses, but
positively before 05-Jan positively before 05-Jul
From 08-Jan Till 31-Jan
Syllabus For V48: PG Dip (Actuarial Applications)
From 08-Jul Till 31-Jul
Page 3
ELIGIBILITY AND FEES
Admission Eligibility
HSC (10+2) or equivalent pass
Certification Eligibility
Fees and Deposit / Semester
Min 50% or as specified for the
Desc
INR
USD
respective course in the syllabus
UF
13,000
1300
or better marks
SCF
60,000
6,000
in total 10 courses (subjects)
ATF
of total 40 credit points
EF
1400/T/P 140/T/P
at Semesters 01-02.
Total ≈
80,000
8000
LD
2,000
200
Aggregate performance and
Class in the programme shall be
reported on the basis of only
semesters 01-02.
SEMESTERS AND COURSES
SN
Code
Name
CA
EE
TM Type CPs Passing
%
20
80
100
T
4
50%
20
80
100
T
4
50%
03 S07013 Finance and Investments-I
04 S07014 Finance and Investments-II
20
80
100
T
4
50%
20
80
100
T
4
50%
05 S07015 Modeling for Health Insurance
20
80
100
T
4
50%
06 S07021 Asset and Liability Management – I
07 S07022 Asset and Liability Management – II
20
80
100
T
4
50%
20
80
100
T
4
50%
08 S07023 Asset and Liability Management – III
20
80
100
T
4
50%
09 S07024 Retirement Benefits Modeling
20
80
100
T
4
50%
10 S07025 Actuarial Project
20
80
100
PW
4
50%
Semester 01: 16 CPs
01 S07011 Life Insurance - I
02 S07012 Life Insurance - II
Semester 02: 16 CPs
EVALUATION PATTERN
SN
1
Type of
Course
Theory (T)
Continuous Assessment
1.
2.
3.
4.
5.
2
Practical (P)
1.
2.
Student is required to answer
1 of 1 SAQ, each of 5 marks,
on each CP
Single attempt only
Marks: 5 Marks for each CP
Duration: Specified 1 Month
CAT: Continuous Assessment
Time is 1 hr for each C.P.
Student is required to submit
“Activity Report” for each CP
in the prescribed format.
Single Attempt only
Syllabus For V48: PG Dip (Actuarial Applications)
End Examination
1.
2.
3.
4.
5.
1.
Student is required to answer 1 of
1 SAQ, each of 5 marks, on each CP
Student is required to answer 1 of
2 LAQs, each of 15 marks, on each
CP
Maximum 5 Attempts only
Marks: 20 Marks for each CP
Duration: 45 minutes for each CP
External and internal examiners shall
assess each student based on:
a.
Conduct of One Randomly
Selected Practical Activity – 5
Page 4
SN
Type of
Course
Continuous Assessment
3.
4.
5.
Marks: 5 Marks for each CP
Duration: Specified 1 Month
CAT: Continuous Assessment
Time is 1 hr for each C.P.
End Examination
Marks
Viva-Voice - 5 Marks
Journal (Workbook) - 5 Marks
and
d. Report of Practical Activity - 5
Marks
2. Maximum 5 Attempts only
3. Marks: 20 Marks for each CP
4. Duration: 240 minutes for each CP
3 Project Work 6. Student is required to submit 5. External and internal examiners shall
(PW)
“Activity Report” for each CP
assess each student based on:
in the prescribed format.
a.
Project Proposal and Review of
7. Single Attempt only
Literature - 5 Marks
8. Marks: 5 Marks for each CP
b. Project Results and Report - 5
9. Duration: Specified 1 Month
Marks
10. CAT: Continuous Assessment
c.
Presentation - 5 Marks and
Time is 1 hr for each C.P.
d. Viva-Voce - 5 Marks
6. Maximum 5 Attempts only
7. Marks: 20 Marks for each CP
8. Duration: 240 minutes for each CP
Actual CA and EE marks shall be used in computation of “Total Marks (TM)”. “Grace Factor” and
“Total Marks (TM)” shall be used in computation of Percentile marks. Only percentile marks shall
be reported for each course in the mark-statement. For successful completion, minimum 50%
marks shall be essential for each course. Only best of the past performance shall be reported.
Syllabus For V48: PG Dip (Actuarial Applications)
b.
c.
Page 5
PG DIPLOMA IN ACTUARIAL APPLICATIONS
SEMESTER 01
S07011: LIFE INSURANCE - I
PROGRAMME INFORMATION
SN Description
1 University
2
3
4
5
School
Discipline
Level
Course Used in
Details
Yashwantrao Chavan Maharashtra Open University
Nashik - 422 222, Maharashtra, India
Website: http://www.ycmou.com/
School of Architecture, Science and Technology
Science
UG
PG Diploma in Actuarial Applications
COURSE INFORMATION
Sem Code Course Name
01 S07011 Life Insurance - I
CP CST CAT ST CA
4 40 4 120 20
EE
80
TM Type
100 T
PRESUMED KNOWLEDGE AND LEARNING OBJECTIVES
Presumed Knowledge
Course Prerequisites:

S04011-S04064
Learning Objectives
Course Objectives: After successful completion
of this course, student will be able to do:
o
Apply, in simple situations, the
principles of actuarial planning and
control needed in life insurance
industry on sound financial lines.
Field Work and/or Home Assignment: Students are expected to complete 1 Field Work and/or
Home Assignment having 20% weightage in total evaluation.
UNITS
UN Name of the Unit
CSs
Questions
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
CSs
LAQs in end exam on
01-10
these units.
Students have to answer
CP Block 02
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
CSs
LAQs in end exam on
11-20
these units.
CP Block 03 Students have to answer
'1 of 1' SAQ in CA and
CSs
'1 of 1' SAQ & '1 of 2'
21-30
LAQs in end exam on
CP Block 01
1 Principal Terms Used In Life Insurance
2 Methods Of Distributing Profits
3 Effect Of The General Business Environment
Syllabus For V48: PG Dip (Actuarial Applications)
Page 6
CP Block 04
4 Roles Of Reinsurance And Underwriting
CSs
31-40
these units.
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
these units.
DETAILS SYLLABUS
CP
Block
UN Detail Syllabus of the Unit
Principal Terms Used In Life Insurance: Principal terms used in life insurance
Main types of life insurance products
1
Types of benefits provided by the products
Bases of product writing
CP
Bock
01
Methods Of Distributing Profits: Methods of distributing profits to with profits
CP
2 policyholders
Bock
Technique of asset shares
02
Effect Of The General Business Environment: Effect of the general business
CP
3 environment, including the impact on level of risk to the insurer
Bock
Source of risk to a life insurance company
03
Roles Of Reinsurance And Underwriting: Roles of reinsurance and underwriting, in the CP
4 managing of risk.
Bock
04
Other ways of managing the risk
LEARNING RESOURCE DETAILS
LR Code
Title
Author
Edition ISBN
Year Publisher
Text-Books
S07011-TB1
ActEd Study Material
Subject ST2
2010 Actuarial
Education
Company
acted@bpp.com
S07011-TB2
Reference-Books
S07011-RB1
S07011-RB2
CD / DVD
S07011-CD1
S07011-CD2
Web Links
S07011-WL1
http://www.actuaries.org.uk/files/pdf/library/LifeInsu
rance.pdf
Syllabus For V48: PG Dip (Actuarial Applications)
Page 7
S07012: LIFE INSURANCE - II
PROGRAMME INFORMATION
SN Description
1 University
2
3
4
5
School
Discipline
Level
Course Used in
Details
Yashwantrao Chavan Maharashtra Open University
Nashik - 422 222, Maharashtra, India
Website: http://www.ycmou.com/
School of Architecture, Science and Technology
Science
UG
PG Diploma in Actuarial Applications
COURSE INFORMATION
Sem Code Course Name
01 S07012 Life Insurance - II
CP CST CAT ST CA EE TM Type
4 40 4
120 20 80 100 T
PRESUMED KNOWLEDGE AND LEARNING OBJECTIVES
Presumed Knowledge
Course Prerequisites:

S04011-S04064

S07011
Learning Objectives
Course Objectives: After successful completion
of this course, student will be able to do:
o
Apply, in simple situations, the
principles of actuarial planning and
control needed in life insurance
industry on sound financial lines.
Field Work and/or Home Assignment: Students are expected to complete 1 Field Work and/or
Home Assignment having 20% weightage in total evaluation.
UNITS
UN Name of the Unit
CSs
CP Block 01
1 Use Of Actuarial Models
CSs
01-10
CP Block 02
2 Evaluating Cost Of Guarantees And Options
3 Factors To Be Considered In Determining A
4 Suitable Design
Principles Of Setting Assumptions
CSs
11-20
CP Block 03
CSs
21-30
CP Block 04
5 Determination Of Supervisory Reserves
Syllabus For V48: PG Dip (Actuarial Applications)
CSs
Questions
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
these units.
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
these units.
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
these units.
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
Page 8
31-40
LAQs in end exam on
these units.
DETAILS SYLLABUS
UN Detail Syllabus of the Unit
CP
Block
Use Of Actuarial Models: Use of actuarial models, including stochastic models and
CP
1 Monte Carlo simulation, for decision making purposes in life insurance
Bock
Technique of actuarial funding in the context of unit-linked life insurance contracts
01
Evaluating Cost Of Guarantees And Options: Evaluating cost of guarantees and options
2 Calculation of the benefits on the early termination of a contract, including transfer, and CP
Bock
the premium or benefits after a change in the terms of a contract
02
Factors To Be Considered In Determining A Suitable Design: Factors to be considered in
determining a suitable design, in terms of benefits and charges, for a life insurance
3 product
CP
4 Principles Of Setting Assumptions: Principles of setting assumptions for pricing and Bock
valuing life insurance contracts, having regard to the management of risk and the return 03
on capital, including how assumptions can be a source of risk
Determination Of Supervisory Reserves: Determination of supervisory reserves for a
CP
life insurance company
5
Bock
Principles of investment for a life insurance company
04
Indian Legislation aspects in functioning of Life Insurance industry
LEARNING RESOURCE DETAILS
LR Code
Title
Author
Editi
ISBN
on
Publisher
Year
ActEd Study Material
Subject ST2
Actuarial
2010 Education
Company
Text-Books
S07012-TB1
S07012-TB2
Reference-Books
S07012-RB1
S07012-RB2
CD / DVD
S07012-CD1
Web Links
S07012-WL1 http://www.actuaries.org.uk/files/pdf/library/LifeInsurance.pdf
Syllabus For V48: PG Dip (Actuarial Applications)
Page 9
S07013: FINANCE AND INVESTMENTS - I
PROGRAMME INFORMATION
SN Description
1 University
2
3
4
5
School
Discipline
Level
Course Used in
Details
Yashwantrao Chavan Maharashtra Open University
Nashik - 422 222, Maharashtra, India
Website: http://www.ycmou.com/
School of Architecture, Science and Technology
Science
UG
V48: PG Diploma in Actuarial Applications
COURSE INFORMATION
Sem Code Course Name
01 S07013 Finance and Investments - I
CP CST CAT ST CA
4 40 4 120 20
EE
80
TM Type
100 T
PRESUMED KNOWLEDGE AND LEARNING OBJECTIVES
Presumed Knowledge
Course Prerequisites:

S04011-S04064
Learning Objectives
Course Objectives: After successful completion
of this course, student will be able to do:
o
Apply, in simple situations, the
principles of actuarial planning and
control needed in life insurance
industry on sound financial lines.
Field Work and/or Home Assignment: Students are expected to complete 1 Field Work and/or
Home Assignment having 20% weightage in total evaluation.
UNITS
UN Name of the Unit
CSs
CP Block 01
1 The Theory Of Finance
Characteristics Of Specialist Financial Instruments
2 Environmental Influences
CSs
01-10
CP Block 02
CSs
11-20
CP Block 03
3 Regulation Of Financial Services
CSs
21-30
CP Block 04
4 Fundamental Share Analysis
Syllabus For V48: PG Dip (Actuarial Applications)
CSs
31-40
Questions
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
these units.
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
these units.
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
these units.
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
Page 10
these units.
DETAILS SYLLABUS
CP
Block
UN Detail Syllabus of the Unit
1
2
The Theory Of Finance: The theory of Finance
Main types of derivative contracts
CP
Bock
01
Characteristics Of Specialist Financial Instruments Environmental Influences: CP
Characteristics of specialist financial instruments Environmental influences
Bock
02
Regulation Of Financial Services: Regulation of financial services
CP
3 The principles underlying the legislative and regulatory framework for investment
Bock
management and the securities industry. Their applications.
03
Fundamental Share Analysis: Fundamental share analysis
CP
4 Different methods for the valuation of individual investments and their appropriateness Bock
04
in different situations.
LEARNING RESOURCE DETAILS
LR Code
Title
Author
Edition
Year
ISBN
Publisher
Text-Books
2010
S07013-TB1 ActEd Study Material Subject ST5
Actuarial
Education
Company
acted@bpp.com
S07013-TB2
Reference-Books
Principles of Corporate Finance
S07013-RB1
Brealey Myers, Allen
S07013-RB2
Options, Futures and Other Derivatives
Hull
Asset Pricing
S07013-RB3 Cochrane
S07013-RB4
The Monetary and Financial System
Goacher
8th
2006
13:9780073130828
Irwin Professional Pub
6th
2006
Prentice Hall of India
2001
0691074984
Princeton University
Press
4th
1999
CIB Publishing
CD / DVD
S07013-CD1
S07013-CD2
Web Links
S07013-WL1
http://www.actuaries.org.uk/files/pdf/library/LifeI
nsurance.pdf
S07013-WL2
Syllabus For V48: PG Dip (Actuarial Applications)
Page 11
S07014: FINANCE AND INVESTMENT - II
PROGRAMME INFORMATION
SN Description
1 University
2
3
4
5
School
Discipline
Level
Course Used in
Details
Yashwantrao Chavan Maharashtra Open University
Nashik - 422 222, Maharashtra, India
Website: http://www.ycmou.com/
School of Architecture, Science and Technology
Science
UG
PG Diploma in Actuarial Applications
COURSE INFORMATION
Sem Code Course Name
01 S07014 Finance and Investment - II
CP CST CAT ST CA
4 40 4 120 20
EE
80
TM Type
100 T
PRESUMED KNOWLEDGE AND LEARNING OBJECTIVES
Presumed Knowledge
Course Prerequisites:

S04011-S04064
Learning Objectives
Course Objectives: After successful completion
of this course, student will be able to do:
o
Apply, in simple situations, the
principles of actuarial planning and
control needed in life
Insurance industry on sound financial
lines.
Field Work and/or Home Assignment: Students are expected to complete 1 Field Work and/or
Home Assignment having 20% weightage in total evaluation.
UNITS
UN Name of the Unit
CSs
CP Block 01
1 Industry Classification
CSs
01-10
CP Block 02
2 Portfolio Theory
CSs
11-20
CP Block 03
3 Portfolio Management And Risk Control
4 Portfolio Management By Institutional Investor
Syllabus For V48: PG Dip (Actuarial Applications)
CSs
21-30
CP Block 04
Questions
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
these units.
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
these units.
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
these units.
Students have to answer
'1 of 1' SAQ in CA and
Page 12
CSs
31-40
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
these units.
DETAILS SYLLABUS
CP
Block
UN Detail Syllabus of the Unit
Industry Classification: Industry classification
Construction of investment indices and the principal features of major investment
indices
CP
1 Analyze the performance of an investment portfolio and discuss the limitations of such
Bock
portfolio measurement.
01
Analyze the performance of an investment and discuss the limitations of such
measurement techniques
Portfolio Theory: Risk free return, mean value portfolio theory
Methods of monitoring and controlling exposure to risks of various types by an
institution
CP
2 Using actuarial techniques to develop appropriate investment strategy
Bock
The principal active management “styles” (value, growth, momentum, rotational)
02
The principal equity portfolio management techniques.
The principal bond portfolio management techniques.
Portfolio Management And Risk Control: Portfolio management and risk control using
CP
3 multifactor models.
Bock
Portfolio construction taking into account Value at Risk, tracking error, risk budgets
03
Portfolio Management By Institutional Investor: Portfolio management by Institutional
investor using various derivatives
CP
4 Taxing of investment returns and the effect of the taxation basis on investment behavior Bock
Principal features of the financial statements issued by companies (including pension 04
funds and insurance companies
LEARNING RESOURCE DETAILS
LR
Code Title
Chartwork Author
Editio
ISBN
n
Publisher
Year
Text-Books
ActEd Study Material
S07014-TB1
Subject ST5
S07014-TB2
Reference-Books
Principles of Corporate Finance
Brealey, Myers, Allen
S07014-RB1
Syllabus For V48: PG Dip (Actuarial Applications)
2010 Actuarial
Education
Company
acted@bpp.com
8th 13:978007313082
2006 8
Irwin Professional
Pub
Page 13
S07014-RB2
Options, Futures and Other Derivatives
Hull
Asset Pricing
S07014-RB3 Cochrane
S07014-RB4
The Monetary and Financial System
Goacher
6th Prentice Hall of
2006 India
2001 0691074984
Princeton
University Press
4th CIB Publishing
1999
CD / DVD
S07014-CD1
S07014-CD2
Web Links
S07014-WL1
http://www.actuaries.org.uk/files/pdf/library/LifeInsuran
ce.pdf
S07014-WL2
Syllabus For V48: PG Dip (Actuarial Applications)
Page 14
S07015: MODELING FOR HEALTH INSURANCE
PROGRAMME INFORMATION
SN Description
1 University
2
3
4
5
School
Discipline
Level
Course Used in
Details
Yashwantrao Chavan Maharashtra Open University
Nashik - 422 222, Maharashtra, India
Website: http://www.ycmou.com/
School of Architecture, Science and Technology
Science
UG
PG Diploma in Actuarial Applications
COURSE INFORMATION
Sem Code Course Name
01 S07015 Modeling for Health Insurance
CP CST CAT ST CA
4 40 4 120 20
EE
80
TM Type
100 T
PRESUMED KNOWLEDGE AND LEARNING OBJECTIVES
Presumed Knowledge
Course Prerequisites:

S04011-S04064
Learning Objectives
Course Objectives: After successful completion
of this course, student will be able to do:
Apply, in simple situations, the principles of
actuarial planning and control needed in
health
and care matters on sound
financial lines.
Field Work and/or Home Assignment: Students are expected to complete 1 Field Work and/or
Home Assignment having 20% weightage in total evaluation.
UNITS
UN Name of the Unit
CSs
CP Block 01
1 Principal Terms In Health And Care
2 Main Types of contract
Techniques Used In Pricing
3 Insurance Products
CSs
01-10
Health Care
CP Block 02
CSs
11-20
CP Block 03
4 Principal Modeling Techniques
CSs
21-30
CP Block 04
5 Principles Of Investment
Syllabus For V48: PG Dip (Actuarial Applications)
CSs
Questions
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
these units.
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
these units.
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
these units.
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
Page 15
31-40
LAQs in end exam on
these units.
DETAILS SYLLABUS
UN Detail Syllabus of the Unit
CP
Block
Principal Terms In Health And Care: Understand the principal terms in health and care
Main Types of contract: Critical Illness, Income Protection, Long Term Care Insurance,
Hospital Cash, Major Medical Expenses, Private Medical Insurance
Variations of contracts issued, group and individual covers, purpose of contracts to
1 insured
CP
2 Principles used to design Health and Care Contracts
Bock
Operating environments in which health and care insurance products and services are 01
traded
Role of the State in the provision of alternative or complementary health and care
protection packages
Techniques Used In Pricing Health Care Insurance Products: Techniques used in pricing
health care insurance products
CP
3 Risks faced by the insurer
Bock
Reinsurance as a tool to manage risk
02
Other methods of managing risk
Principal Modeling Techniques: Principal modeling techniques used in health and care
insurance, morbidity modeling
CP
4 Assumptions crucial to pricing and valuation
Bock
Purposes for and methodology by which valuation and reserving are performed
03
Purposes and practices of supervisory reporting.
Principles Of Investment: Principles of investment underpinning health and care
insurance
CP
5 Principles by which the experience from a health insurance operation is used to refocus Bock
business planning.
04
Indian Legislation aspects in functioning of Health and Care Insurance industry
LEARNING RESOURCE DETAILS
LR Code
Title
Author
Edition ISBN
Year Publisher
Text-Books
S07015-TB1
ActEd Study Material
Subject ST1
S07015-TB2
Reference-Books
S07015-RB1
S07015-RB2
CD / DVD
S07015-CD1
S07015-CD2
Syllabus For V48: PG Dip (Actuarial Applications)
Page 16
Web Links
S07015-WL1
http://www.actuaries.org.uk/files/pdf/library/HealthInsuranc
e.pdf
S07015-WL2
Syllabus For V48: PG Dip (Actuarial Applications)
Page 17
SEMESTER 02
S07021: ASSET AND LIABILITY MANAGEMENT - I
PROGRAMME INFORMATION
SN Description
1 University
2
3
4
5
School
Discipline
Level
Course Used in
Details
Yashwantrao Chavan Maharashtra Open University
Nashik - 422 222, Maharashtra, India
Website: http://www.ycmou.com/
School of Architecture, Science and Technology
Science
UG
PG Diploma in Actuarial Applications
COURSE INFORMATION
Sem Code Course Name
01 S07021 Asset and Liability Management - I
CP CST CAT ST CA
4 40 4 120 20
EE
80
TM Type
100 T
PRESUMED KNOWLEDGE AND LEARNING OBJECTIVES
Presumed Knowledge
Course Prerequisites:

S04011-S04064
Learning Objectives
Course Objectives: After successful completion
of this course, student will be able to do:

Evaluate benefits from insurance
coverages

Understand Investment options and
impact of various factors on their
values

Design investment strategies
Field Work and/or Home Assignment: Students are expected to complete 1 Field Work and/or
Home Assignment having 20% weightage in total evaluation.
UNITS
UN Name of the Unit
CSs
CP Block 01
1 Actuarial Control Cycle
CSs
01-10
CP Block 02
2 Stakeholders
CSs
11-20
CP Block 03
3 Role Of Insurance And Reinsurance
Syllabus For V48: PG Dip (Actuarial Applications)
CSs
21-30
Questions
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
these units.
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
these units.
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
Page 18
CP Block 04
4 Cashflows Of Simple Products
CSs
31-40
these units.
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
these units.
DETAILS SYLLABUS
CP
Block
UN Detail Syllabus of the Unit
Actuarial Control Cycle: Actuarial Control Cycle
1 Overview
Working Professionally
CP
Bock
01
Stakeholders: Stakeholders
Providers of Benefits
2
Regulation
External Environment
CP
Bock
02
Role Of Insurance And Reinsurance: Role of Insurance and Reinsurance
Introduction to Financial Products and Customer Needs
3
Life Insurance Products
General Insurance Products
CP
Bock
03
Cashflows Of Simple Products : Cashflows of Simple Products
Contract Design
4
Project Management
Capital Project Appraisal
CP
Bock
04
LEARNING RESOURCE DETAILS
Title
Author
Edition
Year
ActEd Study Material
S07021-TB1 Subject CA1
2010
Actuarial
Company
acted@bpp.com
2002
SIAS
London
1985
JSS, 28
LR Code
ISBN
Publisher
Text-Books
S07021-TB2
Reference-Books
Demystefying Capital Management in the
S07021-RB1 Life Assurance Industry
Gemmell, McAusland, Shah, Silby
S07021-RB2
The Control Cycle: Financial Control of a Life
Assurance Company Goford
Education
CD / DVD
S07021-CD1
S07021-CD2
Web Links
Syllabus For V48: PG Dip (Actuarial Applications)
Page 19
S07021-WL1
S07021-WL2
Syllabus For V48: PG Dip (Actuarial Applications)
Page 20
S07022: ASSET AND LIABILITY MANAGEMENT-II
PROGRAMME INFORMATION
SN Description
1 University
2
3
4
5
School
Discipline
Level
Course Used in
Details
Yashwantrao Chavan Maharashtra Open University
Nashik - 422 222, Maharashtra, India
Website: http://www.ycmou.com/
School of Architecture, Science and Technology
Science
UG
PG Diploma in Actuarial Applications
COURSE INFORMATION
Sem Code Course Name
01 S07022 Asset and Liability Management-II
CP CST CAT ST CA
4 40 4 120 20
EE
80
TM Type
100 T
PRESUMED KNOWLEDGE AND LEARNING OBJECTIVES
Presumed Knowledge
Course Prerequisites:

S04011-S04064

S07021
Learning Objectives
Course Objectives: After successful completion
of this course, student will be able to do:

Correlate between Assets and
Liabilities

Actuarially value liabilities

Value a company to determine
goodwill on acquisition/merger
Field Work and/or Home Assignment: Students are expected to complete 1 Field Work and/or
Home Assignment having 20% weightage in total evaluation.
UNITS
UN Name of the Unit
CSs
CP Block 01
1 Money Markets
CSs
01-10
CP Block 02
2 Futures And Options
CSs
11-20
CP Block 03
3 Economic Influence On Investment Markets
CSs
21-30
CP Block 04
4 Investment Strategies For Institutions
Syllabus For V48: PG Dip (Actuarial Applications)
CSs
Questions
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
these units.
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
these units.
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
these units.
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
Page 21
31-40
LAQs in end exam on
these units.
DETAILS SYLLABUS
CP
Block
UN Detail Syllabus of the Unit
Money Markets: Money Markets
Bond Markets
1 Credit Risk and Credit Rating
Property Markets
Equity Markets
CP
Bock
01
Futures And Options: Futures and Options
Collective Investment Vehicles
2
Overseas Markets
Investment Indices
CP
Bock
02
Economic Influence On Investment Markets: Economic Influence on Investment
Markets
Other Influence on Investment Markets
CP
3
Valuation of Individual Investments
Bock
03
Relationship between returns on investment classes
Valuation of Asset classes and Portfolios
Investment Strategies For Institutions: Investment Strategies for Institutions
Investment Strategies for Individuals
4 Developing an Investment Strategy
Relationship between Assets and Liabilities
Asset Management
CP
Bock
04
LEARNING RESOURCE DETAILS
Title
Author
Edition
Year
ActEd Study Material
S07022-TB1 Subject CA1
2010
Actuarial
Company
acted@bpp.com
2002
SIAS
London
1985
JSS, 28
LR Code
ISBN
Publisher
Text-Books
S07022-TB2
S07022-TB3
Reference-Books
Demystefying Capital Management in the
S07022-RB1 Life Assurance Industry
Gemmell, McAusland, Shah, Silby
S07022-RB2
The Control Cycle: Financial Control of a Life
Assurance Company Goford
Education
CD / DVD
Syllabus For V48: PG Dip (Actuarial Applications)
Page 22
S07022-CD1
S07022-CD2
Web Links
S07022-WL1
S07022-WL2
Syllabus For V48: PG Dip (Actuarial Applications)
Page 23
S07023: ASSET AND LIABILITY MANAGEMENT - III
PROGRAMME INFORMATION
SN Description
1 University
2
3
4
5
School
Discipline
Level
Course Used in
Details
Yashwantrao Chavan Maharashtra Open University
Nashik - 422 222, Maharashtra, India
Website: http://www.ycmou.com/
School of Architecture, Science and Technology
Science
UG
PG Diploma in Actuarial Applications
COURSE INFORMATION
Sem Code Course Name
01 S01042 Asset and Liability Management - III
CP CST CAT ST CA
4 40 4 120 20
EE
80
TM Type
100 T
PRESUMED KNOWLEDGE AND LEARNING OBJECTIVES
Presumed Knowledge
Course Prerequisites:

S04011-S04064

S07021-S07022
Learning Objectives
Course Objectives: After successful completion
of this course, student will be able to do:

Correlate between Assets and
Liabilities

Actuarially value liabilities

Value a company to determine
goodwill on acquisition/merger
Field Work and/or Home Assignment: Students are expected to complete 1 Field Work and/or
Home Assignment having 20% weightage in total evaluation.
UNITS
UN Name of the Unit
CSs
CP Block 01
1 Data
CSs
01-10
CP Block 02
2 Setting The Discount Rate
CSs
11-20
CP Block 03
3 Risks In Benefit Schemes
4
CSs
21-30
CP Block 04
Capital And Capital Management
Syllabus For V48: PG Dip (Actuarial Applications)
Questions
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
these units.
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
these units.
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
these units.
Students have to answer
'1 of 1' SAQ in CA and
Page 24
CSs
31-40
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
these units.
DETAILS SYLLABUS
CP
Block
UN Detail Syllabus of the Unit
Data: Data
Modeling
1 Setting Assumptions
Costing, Pricing and Funding
Valuing Liabilities
CP
Bock
01
Setting The Discount Rate: Setting the discount rate
Setting discontinuance benefits
2
Expenses
Monitoring investment strategy
CP
Bock
02
Risks In Benefit Schemes: Risks in Benefit Schemes
Risks in insurance
3
Risk Management Process
Risk Management Tools
CP
Bock
03
Capital And Capital Management: Capital and capital management
Insolvency and Closure
4 Merger and Acquisitions
Accounting
Surplus and surplus management
CP
Bock
04
LEARNING RESOURCE DETAILS
LR Code
Title
Author
Edition
Year
ISBN
Publisher
Text-Books
S07023-TB1
ActEd Study Material
Subject CA1
S07023-TB2
S07023-TB3
Reference-Books
Demystefying Capital Management in the
S07023-RB1 Life Assurance Industry
Gemmell, McAusland, Shah, Silby
The Control Cycle: Financial Control of a Life
S07023-RB2 Assurance Company
Goford
CD / DVD
Syllabus For V48: PG Dip (Actuarial Applications)
2010
Actuarial
Company
acted@bpp.com
2002
SIAS
London
1985
JSS, 28
Education
Page 25
S07023-CD1
S07023-CD2
Web Links
S07023-WL1
S07023-WL2
Syllabus For V48: PG Dip (Actuarial Applications)
Page 26
S07024: RETIREMENT BENEFITS MODELING
PROGRAMME INFORMATION
SN Description
1 University
2
3
4
5
School
Discipline
Level
Course Used in
Details
Yashwantrao Chavan Maharashtra Open University
Nashik - 422 222, Maharashtra, India
Website: http://www.ycmou.com/
School of Architecture, Science and Technology
Science
UG
PG Diploma in Actuarial Applications
COURSE INFORMATION
Sem Code Course Name
01 S07024 Retirement Benefits Modeling
CP CST CAT ST CA
4 40 4 120 20
EE
80
TM Type
100 T
PRESUMED KNOWLEDGE AND LEARNING OBJECTIVES
Presumed Knowledge
Course Prerequisites:

S04011-S04064
Learning Objectives
Course Objectives: After successful completion
of this course, student will be able to:
Apply, in simple situations, the
mathematical
and
economic
techniques and the principles of
actuarial planning and control needed
for the operation on sound financial
lines of providers of pensions or other
employee benefits.
Field Work and/or Home Assignment: Students are expected to complete 1 Field Work and/or
Home Assignment having 20% weightage in total evaluation.
UNITS
UN Name of the Unit
1
Principal Terms Used In The Provision Of Pensions
2 Funding Of Benefits By The Benefit Providers
3 Application Of Actuarial Modeling To Pension Plans
Determination Of Discontinuance Terms
4 Design Investment Strategy
Syllabus For V48: PG Dip (Actuarial Applications)
CSs
Questions
Students have to answer
CP Block 01
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
CSs
LAQs in end exam on
01-10
these units.
Students have to answer
CP Block 02
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
CSs
LAQs in end exam on
11-20
these units.
Students have to answer
CP Block 03
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
CSs
LAQs in end exam on
21-30
these units.
Page 27
CP Block 04
5 Reinsurance For Risk Management
CSs
31-40
Students have to answer
'1 of 1' SAQ in CA and
'1 of 1' SAQ & '1 of 2'
LAQs in end exam on
these units.
DETAILS SYLLABUS
UN Detail Syllabus of the Unit
CP
Block
Principal terms used in the provision of pensions
Role played by different parties in the provision of pensions and other employee
benefits and how they meet their requirements
CP
1
Comparison of alternative systems of social security, mandatory individual accounts, Bock
01
occupational pension schemes and personal pensions
Implications of the environment in which benefits are provided
Funding Of Benefits By The Benefit Providers: Funding of Benefits by the benefit
providers
Issues surrounding sponsor covenant
Factors to consider in determining a suitable design, in terms of benefits and
contributions, risks and uncertainties affecting plan elements
2
CP
3 Process of population projection and its main determinants
Bock
Application Of Actuarial Modeling To Pension Plans: Use of actuarial models for 02
decision making purposes in non-state pensions, application of actuarial methods and
techniques to the financial management of a social security scheme principles behind
the determination of assumptions for valuing future benefits and contributions, having
regard to the management of risk and the return on capital
Determination Of Discontinuance Terms : Principles behind the determination of
discontinuance terms in respect of benefits
Determine values for assets, future benefits and future contributions
Application of actuarial methods and techniques to the financial management of
CP
4 defined contribution pension schemes
Bock
Design Investment Strategy: Analyze the asset-liability matching requirements of a 03
provider of pensions and related benefits in relation to the trade-off between risk and
reward, and describe how projection models may be used to develop appropriate
strategies
Reinsurance For Risk Management: Discuss the principles underlying the use of reinsurance, and the choice of re-insurance contract, as a means of reducing some of the
risks and uncertainties associated with the provision of pensions or other benefits.
CP
Identify the sources of surplus/deficit for a benefit provider and discuss the factors that
5
Bock
affect the application of this surplus/deficit
04
With reference to the Actuarial Control Cycle, explain why and describe how the actual
experience, should be monitored and assessed
Indian Legislation aspects in functioning of Pension industry
Syllabus For V48: PG Dip (Actuarial Applications)
Page 28
LEARNING RESOURCE DETAILS
LR Code
Title
Author
Edition ISBN
Year Publisher
Text-Books
S07024-TB1
ActEd Study Material
Subject ST4
2010 Actuarial Education
Company
acted@bpp.com
S07024-TB2
Reference-Books
S07024-RB1
S07024-RB2
CD / DVD
S07024-CD1
S07024-CD2
Web Links
http://www.actuaries.org.uk/files/pdf/library/Pensi
S07024-WL1
ons.pdf
S07024-WL2
Syllabus For V48: PG Dip (Actuarial Applications)
Page 29
S07025: ACTUARIAL PROJECT
PROGRAMME INFORMATION
SN Description
1 University
2
3
4
5
School
Discipline
Level
Course Used in
Details
Yashwantrao Chavan Maharashtra Open University
Nashik - 422 222, Maharashtra, India
Website: http://www.ycmou.com/
School of Architecture, Science and Technology
Science
UG
V26: BSc (Nautical Science)
COURSE INFORMATION
Sem Code Course Name
01 S07025 Actuarial Project
CP CST CAT ST CA
4 40 4 120 20
EE
80
TM Type
100 PW
PRESUMED KNOWLEDGE AND LEARNING OBJECTIVES
Presumed Knowledge
Course Prerequisites:

All courses at Semesters 1-3

All other courses at Semester 4
Learning Objectives
Course Objectives: After successful completion
of this course, student will be able to do:

Explore solutions for the real
problems, encountered in a real life
job, in the complete project execution
from start to finish, by applying basic
concepts, principles and skills.
Special Note: Students are expected to collect data, actuarially analyze and submit the outcome
report for any real small application.
ACTIVITIES
CS Details of Activities
1
Selection of the Project and Project Guide
2
Preparation of Project Execution Plan : Time and Resource Allocation
3
Guidance by the Project Guide, for the self-study of relevant actuarial aspects and concepts by
the student.
4
Self-study of relevant actuarial topics and techniques by the student.
5
Specification by the student of the Project goal/objective, practicality, data collection plan,
choice of Actuarial model to analyse, software needed for the same.
6
Guidance and approval by Project Guide for Project goal/objective, practicality, data collection
plan, choice of Actuarial model to analyse, software needed for the same.
7
Decide on the size of the data to be collected vis-à-vis accuracy desired and ensure that it is
practically feasible.
8
Let the student execute the data collection now as per the plan. Examine the quality and
quantity of data collected. Address to the problems encountered in the data collection, if any.
9
After satisfactory completion of data collection, let student work on modeling and come up
with a well-defined actuarial model statement.
Syllabus For V48: PG Dip (Actuarial Applications)
Page 30
10 Approval of the model by the guide.
11 Analysis of the model by the student with the intermittent help from the guide.
12 Run the analysis with the data and achieve the desired kind of result.
13 Examine if there are surprises or the possibility of an error in the process.
14 If no errors are envisaged, prepare the report.
15 Preparation of Project Report draft listing details of all the steps carried out.
16 Discussion of the Project Report draft with the Project Guide. Address all the issues of
ambiguity. Suggestions for improvement/completeness.
17 Come up with the final project Report and the final submission of the same.
DETAILS SYLLABUS
UN Detail Specifications
1
The “Project Work” course envisages exposing the students to actual work environment, work
practices during the implementation of a project. The aim is to imbibe in students the
principle that working is learning. Learning and working are two sides of the same coin and
thus, work experience enhances the learning.
2
The Project Work must involve practical work related to Actuarial Analysis.
3
Students are expected to work on “Project Work” for about 6 hours per week (About 4 hour’s
self-study at residence or time spent in the data collection and 2 hours in counseling session
at study center), for minimum 20 days in a semester. Thus only those projects, demanding
such study efforts on all those activities, listed in above, should be selected.
4
As students have to finance expenditure on “Project Work”, normally only those projects
should be selected, which involve maximum expenditure up to Rs 1000/-.
5
The original design requirements are not essential, although highly encouraged. Hence,
normally, projects should not be repeated. The same project undertaken in recent past, by
past students, should be avoided. But it is most important that, students must put his
independent study efforts on the project. Thus, student should gain practical project
execution knowledge about making some useful product, after he goes through all projects
completion steps listed above.
6
A single student will normally do a project. The university also encourages large Joint projects,
requiring the participation of a small team of students. However, in such cases, clear
delegation of work and responsibilities, among the students, must be clearly stated in the
“Project Report”. Maximum number of students, in a team for joint project, should not
exceed 3.
7
The student invests his energy, time and resources in a project. The project therefore should,
if possible, have important bearing on some practical aspect. This will help student to justify
his efforts on project.
8
Employed Students are allowed to complete “Project Work” in the industry where he is
employed or his place of choice. Such a student has to identify a resource person in industry,
who can take responsibility of guiding him in project work. Such person should be eligible to
work as “Project Guide”.
9
Study center should assist unemployed students, in locating sponsored “Projects” from local
industries. Students are encouraged to locate sponsored projects from the local industries.
But, in case, a student is unable to locate such project, he is also allowed to complete
“Project Work” at his study center.
10
Each “Project Guide” may be assigned maximum 5 students.
Syllabus For V48: PG Dip (Actuarial Applications)
Page 31
UN Detail Specifications
11
Specimen of Pages
Specimen 1
Project Title
PG Diploma in
Actuarial Applications
Submitted by
Name of Student
Project Guide
Name of Project Guide
Name of the Study Center
Yashwantrao Chavan Maharashtra
Open University
2011
Specimen 2
Certificate
This is to certify that
Mr/Ms ................... ....................
..................... (SIN: ...................)
has successfully completed a project entitled
"..................................................."
in partial fulfillment for the requirement of
PG Diploma in
Actuarial Applications
Signature with Date
Project Guide
SC Coordinator
Internal Examiner
External Examiner
Specimen 3
Contents
1. Introduction
1.1 Objective and Scope
1.2 Need
1.3 Brief Idea
2. Data Requirement
2.1 Data items
2.2 Size
2.3 Source
2.4 Methods
2.5 Time frame of collection
3. Model Design
3.1 Model components
3.2 Component Characteristics
3.3 Component relationships
4. Model Analysis
4.1 Assumptions
4.2 Parameter estimation
4.3 Hypothesis testing
5. Result and Conclusion
6. Reference
12
Project Report Format:
1. The project report should be printed on only right side of A4 size (210 mm ´ 297
mm) paper. There is no minimum or maximum page number limit for the “Project
Report”, but report of minimum 15–20 page is expected. University recommends
only flexible binding for the “Project Report”. But, if student wishes, he may also
use spiral binding.
2. Margins should be as follows :·
Syllabus For V48: PG Dip (Actuarial Applications)
Page 32
UN Detail Specifications

Left Margin : 40 mm

Right Margin : 20 mm

Top Margin : 20 mm

Bottom Margin : 27 mm
3. Header should not be used. Footer, containing page number at the center should
only be used, with footer margin of 25 mm.
4. Text should be printed in font size of 12 points and at interline distance of 18
points. (That is 1.5 line spacing). Normally, figures should be embedded in the text,
where their first reference occurs. But if necessary, figures may be grouped on
separate pages. Figure should be numbered as ‘Fig C.F’, where ‘C’ is chapter
number and ‘F’ is figure number. Figure number ‘F’ is reset back to 1 for each new
chapter.
5. Page Sequence: (1) Cover page as per specimen 1 (2) Certificate page as per
specimen 2 (3) Acknowledgement page for the help offered by individuals and
institution (4) Content page as per specimen 3. Following suggested scheme of
chapters in project report then follows these first 4 pages.
13
Suggested Scheme of Chapters in Project Report:
1. Chapter 1: Introduction: Background of the project, Need for the project, Brief
idea of the project
2. Chapter 2: Data Requirement: List the data items the values of which would be
needed. Ascertain the number of on observations to be collected based on the
desired accuracy of the results. Plan from where (the source) and how (the
method) the data are to be collected with the budgeted time frame for data
collection.
3. Chapter 3: Model Design: Specify the Model statement involving component
parameters, their characteristics and interrelationships.
4. Chapter 4: Model Analysis: State the assumptions needed to analyse. The analysis
may involve estimation of some parameters and testing of some hypothesis.
5. Chapter 5: Results and Conclusions: Analyze the observations and arrive at the
results of the project. Discuss why the specifications were not met or the reasons
for the failure, if any. Discussed the problems and difficulties encountered and
how they were / can be eliminated. Discuss any extension work or modifications,
which you want to suggest.
6. Chapter 6: References: List the books, magazines and data manuals used.
14
Submission Process: Student should prepare 2 copies of the Project Report. At the beginning,
the respective Project Guide must approve both copies positively before the end examination.
Then respective Study Center Coordinator approves both copies of the Project Report.
Student should submit one of these approved copies to the study center. The student should
retain remaining one of these approved copies. Study center should preserve their copy of, all
project reports, till the end examination. Even student must bring his own copy during this
end examination.
LEARNING RESOURCE DETAILS
LR Code
Title
Author
Edition
Year
ISBN
Publisher
2010
Actuarial
Company
Text-Books
S07025-TB1
ActEd Study Materials
Subject CA1 CT1-CT8
Syllabus For V48: PG Dip (Actuarial Applications)
Education
Page 33
acted@bpp.com
S07025-TB2
S07025-TB3
Reference-Books
S07025-RB1
S07025-RB2
CD / DVD
S07025-CD1
S07025-CD2
Web Links
S07025-WL1
S07025-WL2
END OF DOCUMENT
Syllabus For V48: PG Dip (Actuarial Applications)
Page 34