This course covers the tools for quantitatively assessing risk as presented on Society of Actuaries Exam P/Casualty Actuarial Society Course 1. 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 2101 (C021) or 2103 Business Foundation requirement for Actuarial Science majors.