Week 1 Study Plan
Overview
This week, we will cover the following topics:
- Introduction to the course: what are the topics we will cover in this subject, and how are they connected?
- Module 1, which introduces the basics of loss reserving: what it is, why it matters, notation, data
- We will also introduce the Excel component of the subject.
See also detailed learning outcomes of 5.2 (run-off triangles) of the CM2 syllabus here.
Main references and lectures
Prerequisite knowledge
Please review the Prerequisite knowledge page for this course. This is not exhaustive by any means, but provides minimum knowledge you should be comfortable with. Note that Tutorials in Week 1 are your opportunity to ask about those topics.
Subject Introduction
Module 1: Basic Reserving Concepts
Read: Module 1: Basic Reserving Concepts
Watch: refer to your lecture recording under “Lecture Capture” (UG/PG).
Additional preparation and resources
Mandatory
- Read the
Subject Guide. - Review the
Prerequisite knowledge. - Chapter 1 of Taylor (2000) (for Module 1)
Tutorials
Please let us know of any mistake or required update on Ed.
Tutorial materials
Tutorial exercises have been especially selected as more advanced exercises facilitating revisions and discussions during the face to face tutorials.
Solutions will only be released in the morning of the tutorials, to encourage students to have a go by themselves prior to the tutorial, but still allowing them to have something to annotate during the tutorial.
Please have a look at the Week 1 tutorial problem set for this week before attending tutorials. We understand that you only have several hours to digest all concepts from Thursday lectures before going to your Friday tutorials. We do not expect you to finish all questions before tutorials, but it would be beneficial if you could at least review them and give them some thought beforehand. The tutors will go through the questions with you, and you are encouraged to ask questions during tutorials.
Extra Exercises
Extra exercises, to be completed after the tutorial, and with solutions available straight away. It is recommended to attempt the questions before looking at the solutions.
Tutorials won’t discuss those questions in the tutorials, but will answer questions if you have any.
There are no extra questions for this module.
Preparation for assessment
Mid-semester (15%) and final (60%) exams
- Nothing to do for now - just don’t fall behind!
Assignment (25%)
- Nothing to do for now.