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Nov 21, 2024
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ACS 4640 - Actuarial Probability Models II3 lecture hours 0 lab hours 3 credits
Course Description
This course is the second in a sequence of two courses to prepare our students for an actuarial exam focused on using probability models in the context of short-term insurance coverages. This course will cover the topics that are not covered in AC 4630. Substantial focus will also be placed on developing efficient problem-solving skills for all topics covered in the Fundamentals of Actuarial Mathematics course sequence.
Prereq: ACS 4630 (quarter system prereq: Actuarial Science program director consent)
Note: None
This course meets the following Raider Core CLO Requirement: None
Course Learning Outcomes
Upon successful completion of this course, the student will be able to:
- Calculate premiums for short-term insurance products
- Calculate reserves for short-term insurance products
- Apply all the concepts learned in AC 4630 and the topics above to actuarial problems
Prerequisites by Topic
- Calculus
- Probability
- Interest rate theory
Course Topics
- Premiums for short-term insurance products
- Reserves for short-term insurance products
- Expected loss ratio, chain ladder, Bornhuetter-Ferguson, and other reserving methodologies
- Projected losses, rate calculations, and risk classification for premiums
- Applying all the concepts learned in AC 4630 and the topics above to actuarial problems
Coordinator
Dr. Yvonne Yaz
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