This course covers the techniques for deriving the value for pricing and reserving purposes of life insurance risks, including an appreciation of the analysis of change on the examination of the assumptions. Students will use spreadsheets to perform computations and be given exercises that require participation in teams. The course also covers contemporary management issues in life insurance including longevity, premium rating, selection and capital management. This course will cover the requirements for the Actuaries Institute CT5 course and students gaining at least a credit assessment will be recommended for exemption from the CT5 course.