0001. Introduction to Actuarial Science (3 s.h.) F S.

Prerequisite: Mathematics C085 (with a grade of at least a B). Co-Requisite: Mathematics C086 (or equivalent).

Introduction to discrete probability models and single-variable continuous probability models with applications to risk management.

Note: This course also meets an upper-level major or business elective requirement. Mode: Lecture and problem solving.

0061. Basic Actuarial Mathematics (3 s.h.) S.

Prerequisite: Mathematics C085, 0086, 0127, Actuarial Science 0262 or Math 0233, and Risk Management and Insurance 0001 (or equivalents); or permission of the Program Director.

Actuarial foundations from calculus-based probability theory, with applications to risk management and insurance.

0101. Theory of Interest (3 s.h.) F S.

Prerequisite: Mathematics C085, 0086, and Actuarial Science 0001 (or equivalent courses) with at least a grade of B in all Actuarial Science prerequisites. Co-Requisite: Mathematics 0127.

Generalized and compound interest theory with applications to annuities, amortization, valuation of securities, bond yield determinations, yield curves, spot rates, forward rates, duration, convexity, and immunization.

W218. Casualty Contingencies (3 s.h.) F. Core: WI.

Prerequisite: Mathematics C085, 0086, 0127, Actuarial Science 0001 and Risk Management and Insurance 0001 and Junior status. Co-Requisite: Actuarial Science 0262 or Mathematics 0233 (or equivalent) or permission of the Program Director.

The course presents topics relevant to property-liability insurance coverages. It is designed to broaden perspectives on the business environment in which actuaries work.

Note: This is the writing-intensive course for majors in Actuarial Science. Mode: In addition to homework and exams, there will be significant writing assignments and a major group presentation project .

0262. Actuarial Probability and Statistics (3 s.h.) F S.

Prerequisite: Math C085, Math C086, and Math 0127 or their equivalents with a grade of B in each of these courses.

This course covers the tools for quantitatively assessing risk as presented on the SOA/CAS Course 1 professional examination. Topics include: general probability (set functions, basic axioms, independence); Bayes’ Theorem; univariate probability distributions (probabilities, moments, variance, mode, percentiles, and transformations); multivariate probability distributions (joint, conditional, and marginal distributions—probabilities, moments, variance, and covariance); and basic asymptotic results.

Note: This course replaces the Statistics C021 Business Core requirement for Actuarial Science majors.

0305. Actuarial Modeling I (3 s.h.) S.

Prerequisite: Actuarial Science 0262 or Mathematics 0233, and Actuarial Science 0101, (or equivalents), with at least a grade of B in each, Risk Management and Insurance 0001 or permission of the Program Director.

Contingent payment models; applications of probability theory to life insurance and annuities, premiums, and reserves.

0306. Actuarial Modeling II (3 s.h.) F.

Prerequisite: Actuarial Science 0305 (or equivalent) and Statistics 0212 or Mathematics 0234 (or equivalent).

Joint distribution and multiple decrement models. Frequency and severity, and compound distribution loss models. Introduction to ruin theory.

0316. Actuarial Modeling III (3 s.h.) S.

Prerequisite: Mathematics 0333 and Actuarial Science 0306 (or equivalents).

Estimation and fitting of survival, frequency and severity, and compound distribution loss models; credibility methods.

0394. Special Topics (3 s.h.)

Prerequisite: Permission of the Program Director.

Current developments in the field of actuarial science.