Courses

This course is a special applications course with topics pertaining to application of Calculus and Linear algebra in Actuarial Science. One of the course objectives is for each student to develop a mastery of financial mathematics used by actuaries, based on the mathematics of interest theory.

A development of theoretical basis of survival models, life table, life insurance benefits, annuities, premium calculation and policy values primarily intended as preparation for part of the Society of Actuaries Exam FAM.

A development of theoretical basis of survival models, life table, life insurance benefits, annuities, premium calculation and policy values primarily intended as preparation for part of the Society of Actuaries Exam FAM.

The first part of a two-semester sequence. Covers material in calculus-based probability and actuarial mathematics required for Exam P (Probability), an examination given by the Society of Actuaries.

This course has an in depth study of the normal and log-normal distributions, the simple random walk, basics of stochastic calculus, the Samuelson (geometric Brownian motion) stock-price model and the Black-Scholes formula, analysis of option Greeks, market making, non-deterministic interest rate models both discrete and continuous-time), bond pricing. Monte-Carlo simulations.

This course develops the knowledge of theoretical basis to traditional and modern contingent payment models and the application of those models to insurance and other financial risks. It is primarily intended as preparation for the Society of Actuaries Exam ALTAM.

This course develops the knowledge of theoretical basis to traditional and modern contingent payment models and the application of those models to insurance and other financial risks. It is primarily intended as preparation for the Society of Actuaries Exam ALTAM.

The second part of a two-semester sequence. Covers material in calculus-based probability (with an emphasis on topics from multivariable calculus such as double integrals) and actuarial mathematical required for Exam P (Probability), an examination given by the Society of Actuaries.

This seminar is for students who want to prepare for Society of Actuaries exam P or (CAS Exam 1), Probability. Topics include general probability including conditional probability and Bayes rule, univariate distributions, including binomial, hypergeometric, Poisson, beta, Pareto, gamma, Weibull and normal, and multivariate distributions including joint moment generating functions and transformation techniques.

This seminar is for students who want to prepare for Society of Actuaries exam P, (or FM Exam 2), Financial Mathematics. Topics include general accounting, interest theory (discrete and continuous) and introduction to derivative securities. It assumes a basic knowledge of calculus and probability.