MATH 417A - Short-Term Actuarial Mathematics I

Description:
Mathematical tools for short-term insurance, including severity models, frequency models, aggregate models, coverage modifications, and risk measures. Course will be offered on on odd numbered years (Fall).

Prerequisites:
Prerequisite: MATH 411C and MATH 418C with grades of C or higher.

Credits: (4)

Learner Outcomes:
Upon successful completion of this course, the student will be able to:

Apply techniques for creating a new family of distributions in severity models (including multiplication by a constant, raising to a power, exponentiation, and mixing).
Compare and contrast various frequency models, including Poisson, Mixed Poisson, Binomial, Negative Binomial, Geometric, and mixture models.
Solve for relevant parameters and statistics in collective (aggregate) risk models.
Evaluate the impact of coverage modifications (including deductibles, limits, and coinsurance) in frequency, severity, and aggregate models.
Evaluate projects using risk measures.
Design an appropriate actuarial model for a given situation or application.
Assess the appropriateness of an actuarial model for a given application.

Learner Outcomes Approval Date:
3/1/18

Anticipated Course Offering Terms and Locations: