01522/Actuarial Science

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

Prerequisites: Mathematics C073 and C074 (or equivalents).

Introduction to discrete probability models; basic mathematics of simple and compound interest.

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

Prerequisites: Mathematics 0085, 0086, 0127, 0233, and RMI 0001 (or equivalents); or permission of the Program Director.

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

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

Prerequisites: Mathematics 0085, 0086, and Actuarial Science 0001; or permission of the Program Director.

Generalized and compound interest theory with applications to annuities certain, amortization, depreciation, valuation of securities, and bond yield determinations.

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

Prerequisites: Mathematics 0085, 0086, and Actuarial Science 0001; or permission of the Program Director.

This is the writing-intensive course for majors in Actuarial Science. The course presents the basic mathematical and statistical techniques for the pricing of, and reserving for, property-liability insurance coverages. The material will be presented through lectures, and absorbed through independent work by the students. In addition to homework and exams, there will be significant writing assignments and a major group presentation project.

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

Prerequisites: Mathematics 0233, Actuarial Science 0101 (or equivalents), and 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). Co-requisite or prerequisite: Statistics 351 (or equivalent).

Survival, frequency and severity, and compound distribution loss models. Introduction to ruin theory.

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

Prerequisites: Mathematics 0333, 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.