UNIVERSITY OF KENT
MODULE SPECIFICATION
SECTION 1: MODULE SPECIFICATIONS
1.
Title of the module: Corporate Finance for Actuaries (MA527)
2.
School or partner institution which will be responsible for management of the module
School of Mathematics, Statistics and Actuarial Science
3.
Start date of the module: September 2014
4.
The number of students expected to take the module: 100 (2014/15)
5.
Modules to be withdrawn on the introduction of this proposed module and consultation with other
relevant Schools and Faculties regarding the withdrawal
This module and MA528 replace MA526.
6.
The level of the module (e.g. Certificate [C], Intermediate [I], Honours [H] or Postgraduate [M]): I
7.
The number of credits and the ECTS value which the module represents : 15 (ECTS 7.5)
8.
Which term(s) the module is to be taught in (or other teaching pattern): Spring term
9.
Prerequisite and co-requisite modules:
Prerequisite modules: MA315 (Financial Mathematics)
Co-requisite modules: MA528 Financial Reports and their Analysis.
10. The programmes of study to which the module contributes
BSc (Hons) Actuarial Science (including programme with a year in industry)
11. The intended subject specific learning outcomes
On successful completion of this module students will have:
a) knowledge of the concepts and elements of finance;
b) ability to use appropriate techniques in mathematics to present and solve problems in
finance;
c) understanding of the basic financial management issues and processes in a corporate entity.
12. The intended generic learning outcomes
Students who successfully complete this module will have:
a) developed a logical mathematical approach to solving problems and will be able to solve
problems in finance using appropriate methods;
b) enhanced their computer skills in selection and use of electronic sources to search for and
retrieve information online;
c) improved their ability to manage their time and work independently;
d) improved their key skills in numeracy, problem solving, and written communication.
Approved March 2014
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UNIVERSITY OF KENT
13. A synopsis of the curriculum
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Types of business entity
Agency theory and principal/agent problems
The structure and methods of financing a joint stock company
The issue of securities and the securities markets.
Basic principles of personal and corporate taxation. Basic derivatives and their use to
mitigate risk
Company capital structure and dividend policy
Cost of capital and its interaction with investment projects
Capital project appraisal techniques
Financial Institutions
The intention is that this curriculum together with that for MA528 would provide an acceptable
platform for exemption from the UK actuarial profession’s examination in subject CT2, subject to
satisfactory performance.
14. Indicative Reading List
The material is covered by the Actuarial Education Company’s notes for Subject CT2.
15. Learning and Teaching Methods, including the nature and number of contact hours and the total
study hours which will be expected of students, and how these relate to achievement of the intended
module learning outcomes.
No of contact hours: 48 (24 lectures and 24 example classes/supervised problem solving sessions)
Independent study hours: 102
Total study hours: 150
Teaching methods will comprise a mix of lectures and example classes/supervised problem solving
sessions. Subject specific learning outcomes 11(a)-(c) and generic learning outcomes 12(a),(d) will
be addressed by the lectures and classes/problem solving sessions. The skills listed as generic
learning outcomes 12(b)-(d) will be developed by work on the coursework assessments.
16. Assessment methods and how these relate to testing achievement of the intended module learning
outcomes
This module is assessed by coursework (20%) and by examination (80%).
Coursework: This will normally consist of class tests (assessing learning outcomes 11(a)-(c) and
12(a),(d)) and open-book written assignments mostly completed by students outside contact hours
(assessing learning outcomes 11(a)-(c) and 12(a)-(d)).
Examination: A 2-hour unseen written examination in the Summer Term that consists of a mix of
short and long answers that test to varying levels of proficiency learning outcomes 11(a)-(c) and
12(a), (c),(d).
17. Implications for learning resources, including staff, library, IT and space
This module has been redesigned as part of an overall restructure of the Actuarial Science modules.
In terms of resources for the BSc Actuarial Science programme, this module together with MA528
will require similar resources to their predecessor MA526. However, as a result of the restructure it
will no longer be possible to co-deliver the postgraduate modules MA726 and MA826 alongside
these modules. This will require separate resources to deliver MA726 and 826 to be provided. This
will have implications for both staff and space requirements. On the other hand, this module
together with MA528 will be taught in Spring Term and will obviate the need to provide a Spring
Term version of MA553 that would otherwise be required to balance the Stage 2 Actuarial Science
programme. There are not expected to be any additional IT or Library resource requirements
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UNIVERSITY OF KENT
18. The School recognises and has embedded the expectations of current disability equality legislation,
and supports students with a declared disability or special educational need in its teaching. Within
this module we will make reasonable adjustments wherever necessary, including additional or
substitute materials, teaching modes or assessment methods for students who have declared and
discussed their learning support needs. Arrangements for students with declared disabilities will be
made on an individual basis, in consultation with the University’s disability/dyslexia support service,
and specialist support will be provided where needed.
19. Campus where module will be delivered: Canterbury
SECTION 2: MODULE IS PART OF A PROGRAMME OF STUDY IN A UNIVERSITY SCHOOL
Statement by the School Director of Learning and Teaching/School Director of Graduate Studies
(as appropriate): "I confirm I have been consulted on the above module proposal and have given advice
on the correct procedures and required content of module proposals"
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Director of Learning and Teaching/Director of
Graduate Studies (delete as applicable)
Date
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Print Name
Statement by the Head of School: "I confirm that the School has approved the introduction of the
module and, where the module is proposed by School staff, will be responsible for its resourcing"
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Head of School
Date
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Print Name
Module Specification Template
Last updated February 2013
Approved March 2014
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