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Course Criteria
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3.00 Credits
This course is directed both to majors and non-majors of Actuarial Science. The course is designed as a survey of the professional field of actuarial science, as certified by the Society of Actuaries and the Casualty Actuarial Society. The role of actuarials in the financial evaluation of risk in strategic management decision-making is emphasized. Introduction to the roles of linear algebra, statistics and probability, risk theory, and actuarial mathematics to topics of pricing, loss reserving, and insurance accounting are included. Field experiences, guest lecturers, and computer assignments are part of the learning experiences required for the course. 3 credits Prerequisite: MATH2070 or concurrent
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3.00 Credits
Actuarial Seminar I is a capstone seminar on topics from calculus, mathematical statistics, and insurance and risk management. It challenges the students preparation for the Course 1 examination of the Society of Actuaries. Based on a sound foundation in Calculus 1 through III and mathematical statistics, the theory will be applied to problem solving, using classification and other approaches. Prerequisites: COSK2220 or COSK2225 and STAT3140
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3.00 Credits
This course helps the student to become familiar with the basic mathematical principles underlying the mathematics of finance. Mathematical fundamentals of interest, certain annuities, yield rates, bonds, mortgages and other loans, depreciation, duration, and immunization are presented. Software proficiency in word processing is required. Prerequisite: MATH2070 or permission of departmental head.
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3.00 Credits
This course provides a systematic development of the mathematical models most frequently used in the study of corporate finance. The course builds on the valuation methods for cash flows developed in Theory of Interest and applies these methods to problems in corporate finance and investment theory. Models studied include dividend growth, the capital asset pricing model, protfolio theory, Modigliani-Miller theory, and Black-Scholes option valuation. Prerequisite: ASCI3100
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3.00 Credits
This course provides training in the theory of interest, finance, and economics as well as other material pertinent to the actuarial exam Course 2, jointly administered by the SOA and the CAS. The course is structured to allow students to engage in directed self-study in preparation for the exam. Class time will be used for discussion, analysis, bench-marking of progress, and as a general clearing-house for guidance on specific problems. A detailed "deconstruction" of the previous Course 2 exams will provide the central, organizing theme for the course of study. 3 credits. Prerequisite: ASCI3100
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3.00 Credits
This course helps the student to become familiar with the basic mathematical principles underlying contingent financial arrangements, emphasizing situation in which mortality is the contingent event and the instrument is life insurance. Mathematical fundamentals of survival distributions, life insurance, life annuities, net premiums, and net premium reserves are presented. Software proficiency in word processing is required. Prerequisites: ASCI3100, STAT3150, MATH2170 and COSK2220 or COSK2225 or permission of departmental head.
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3.00 Credits
This course helps the student become familiar with the basic mathematical principles underlying various advanced contingent insurance arrangements. Concepts considered include multiple life functions, multiple decrement models, valuation theory for pension plans, and insurance models including expenses, non-forfeiture benefits and dividends. Software proficiency in word processing is required. Prerequisite: ASCI4100 or permission of department head.
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3.00 Credits
This is the first of a two course sequence in statistical modeling that covers widely applicable (both actuarial and non-actuarial) methods in probability and statistics. These courses are designed to lay the mathematical foundations for students preparing for advanced professional actuarial exams. They also serve to provide and introduction to mathematical modeling techniques useful for a wider audience of quantitatively oriented students in business and finance, and science and engineering. Course ASCI4200 (AS410) consists of a comprehensive survey of probability distributions used in mathematical models, and the modeling of discrete and continuous time stochastic process, including Markov, compound Poisson and Brownian motion processes. 3 credits Prerequisites: STAT3140 and STAT3150
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3.00 Credits
This is the second of a two course sequence in statistical modeling that covers widely applicable (both actuarial and non-actuarial) methods in probability and statistics. These courses are designed to lay the mathematical foundations for students preparing for advances professional actuarial exams. They also serve to provide an introduction to mathematical modeling techniques useful for a wider audience of quantitatively oriented students in business and finance, and science and engineering. Topics in AS411 include the evaluation of data for estimation and goodness-of-fit to models, simple and multiple regression models, time series, forecasting and data credibility models. Prerequisites: STAT3140 & STAT3150
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3.00 Credits
This course is a survey of topics in pension and health as they relate to the practice of actuarial science as certified by the Society of Actuaries. Detailed presentation of actuarial calculations associated with legal requirements and liability issues of pension and health care benefit models and the characteristics of pension legal theory are contained in the course. Case studies and guest lecturers are part of the learning experiences required for the course. Prerequisite: STAT3140
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