Actuarial Science

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    300s

    ACTL 335 Theory of Interest 3
    Prereq.: MATH 152. Theory and applications of the theory of interest. Topics include simple and compound interest, installment buying, annuities certain, sinking funds, amortization, depreciation, bonds, and related securities. Fall. (E)

    400s

    400-LEVEL CLASSES ARE FOR UNDERGRADUATE CREDIT ONLY, EXCEPT WHERE NOTED WITH "[GR]"

    ACTL 465 Actuarial Models I 4
    Prereq.: STAT 315. Life contingency topics including survival models and life tables, net premium and reserve calculation including an introduction to multiple life and multiple decrement models. Students will not receive credit for both ACTL 465 and ACTL 565. Fall. (O)

    ACTL 466 Actuarial Models II 4
    Prereq.: STAT 315. Topics related to risk theory including frequency and severity of losses, approaches to calculation of the aggregate loss distribution, and estimation of the probability of ruin. Students will not receive credit for both ACTL 466 and ACTL 566. Spring. (O)

    ACTL 480 Topics in Actuarial Science 1 TO 3
    Prereq.: Permission of instructor. Topics chosen from theory of interest, risk theory, demography, and graduation. Irregular. [GR]

    ACTL 481 Review-SOA/CAS Course I 3
    Review and extension of the principles of calculus and probability as related to the material on the SOA/CAS Course 1 exam. Spring. [GR]

    ACTL 482 Review-SOA/CAS Course II 3
    Prereq.: ACTL 335 and permission of instructor. Review and extension of the principles of theory of interest, economics, and finance as related to the material on the SOA/CAS Course 2 exam. Spring. [GR]

    500s

    ACTL 564 Mathematics of Financial Derivatives 3
    Prereq.: Admission to the M.A. in mathematics with specialization in actuarial science or permission of the instructor. Study of mathematical models used to value financial derivatives. Includes both discrete time models such as binomial trees and simulation as well as continuous time models based upon Brownian moiton and Ito's lemma. Fall.

    ACTL 565 Graduate Actuarial Models I 4
    Prereq.: Admission to M.A. program in Mathematics with specialization in Actuarial Science. Models the valuation of life contingent payments. Specific topics include survival models and life tables and their use in the calculation of net premiums and reserves. Multiple life and multiple decrement models are introduced. This is a link course with ACTL 465. Not open to students who have passed ACTL 465. Fall.

    ACTL 566 Graduate Actuarial Models II 4
    Prereq.: Admission to M.A. program in Mathematics with specialization in Actuarial Science. Frequency and severity models, compound distribution models, stochastic process and ruin models. This is a link course with ACTL 466. Not open to students who have passed ACTL 466. Spring.

    ACTL 580 Advanced Topics in Actuarial Science 3
    Prereq.: Permission of instructor. Seminar in risk theory, basic actuarial principles, actuarial models, actuarial modeling, or other advanced topic. May be repeated under different topics for a maximum of 6 credits. Irregular.

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