DEPARTMENT OF STATIS TICS
COLLEGE OF ARTS & SCIENCES
330.972.6886 (TELEPHONE)
Course Description
3470:471/571
Actuarial Science I
3 credits
Prerequisite: 3470:451/551 Theoretical Statistics I or 3470:461/561 Applied
Statistics or equivalent.
Course Description: A study of various statistical, financial, and mathematical
calculations used to determine insurance premiums related to contingent risks based
on individual risk model frameworks.
Course Topics:
Statistical Concepts
Random variables, pmf, pdf, cdf, survival function, expectations, conditioning,
force of mortality
Financial Mathematics
Interest and annuity models, stochastic rates
Stochastic Status Models
Future lifetime RV, curtate future lifetime RV, multiple life models, JLS, LSS
Survivorship Group Theory
Life tables, actuarial computations and notations, multiple decrement models
Actuarial Models
Life Insurance Models: Whole Life, Term, Endowment, Pure Endowment
Life Annuity Models: Whole Life, Temporary, Deferred, apportionable premium
computations using the loss function approach
Fall 2014