ST226      Half Unit
Actuarial Investigations: Financial

This information is for the 2020/21 session.

Teacher responsible

Dr Gelly Mitrodima


This course is compulsory on the BSc in Actuarial Science. This course is available on the BSc in Business Mathematics and Statistics and BSc in Mathematics, Statistics and Business. This course is available as an outside option to students on other programmes where regulations permit. This course is not available to General Course students.

The course is capped, and the maximum number of students will be 130.


Students must have completed Mathematical Methods (MA100) and Elementary Statistical Theory (ST102).

Course content

  • Introduction to actuarial modelling.
  • The application of compound interest techniques to financial transactions.
  • Generalised cash-models to describe financial transactions such as zero-coupon bonds, fixed interest securities, cash on deposit, equities, interest only loans, repayment loans, annuities certain and others.
  • Introduction to R programming for Actuarial Science.
  • Introduction to life insurance.


This course will be delivered through a combination of classes and lectures totalling a minimum of 34 hours across Michaelmas Term. This year, some or all of this teaching may be delivered through a combination of virtual classes and flipped-lectures delivered as short online videos. This course includes a reading week in Week 6 of Michaelmas.

Formative coursework

Students will be expected to work in groups and give written answers to a number of problem sets.

Indicative reading

J. J. McCutcheon & W. J. Scott, An Introduction to the Mathematics of Finance, Heinemann; Institute and Faculty of Actuaries, Formulae and Tables for Actuarial Examinations; Core reading notes obtainable from the Institute and Faculty of Actuaries;D. Dickson, M. Hardy & H. Waters,  "Actuarial Mathematics for Life Contingent Risks", International Series on Actuarial Science, pp. I-Vi. Cambridge University Press. 2009


Exam (90%, duration: 3 hours) in the January exam period.
Coursework (10%) in the LT.

The coursework will be due after the January examination period.

Student performance results

(2017/18 - 2019/20 combined)

Classification % of students
First 56.9
2:1 16.6
2:2 9.5
Third 8.6
Fail 8.4

Important information in response to COVID-19

Please note that during 2020/21 academic year some variation to teaching and learning activities may be required to respond to changes in public health advice and/or to account for the situation of students in attendance on campus and those studying online during the early part of the academic year. For assessment, this may involve changes to mode of delivery and/or the format or weighting of assessments. Changes will only be made if required and students will be notified about any changes to teaching or assessment plans at the earliest opportunity.

Key facts

Department: Statistics

Total students 2019/20: 162

Average class size 2019/20: 55

Capped 2019/20: No

Value: Half Unit

Guidelines for interpreting course guide information

Personal development skills

  • Team working
  • Problem solving
  • Application of numeracy skills
  • Commercial awareness
  • Specialist skills