This course is designed to prepare candidates for the Advanced Long-Term Actuarial Mathematics (ALTAM) Exam, which focuses on advanced actuarial techniques used in life insurance, annuities, pensions, long-term health products, and related financial guarantees.
Exam Month: April, October
Key Components:
- Life Contingencies & Valuation:
- Survival and multiple-state models
- Premiums and policy values for life, health, and annuity contracts
- Joint-life insurance and annuities
- Profit Testing & Retirement Benefits:
- Profit analysis, reserves, and premium setting
- Pension plans, retirement benefits, and funding techniques
- Advanced Insurance Products:
- Universal Life insurance
- Embedded guarantees, option valuation, and hedging
The course develops the technical, modelling, and valuation skills required to analyse complex long-term actuarial products and prepare effectively for the ALTAM Exam. The exam is three hours long with six questions, including one Excel-based question.