Courses
Courses primarily for undergraduates:
Credits: 1. Contact Hours: Lecture 1.
Repeatable.
Prereq: MATH 2400
Material review for actuarial exam FM. Offered on a satisfactory-fail basis only.
(Typically Offered: Fall, Spring)
Credits: 3. Contact Hours: Lecture 3.
Prereq: STAT 3410
Probability distributions used to model uncertain events in actuarial practice. Aggregate models, evaluating the effect of various coverage modifications such a deductibles and limits. Construction of empirical models, calculations of common risk measures, and calculations of commonly used severity and frequency models. Various methods for estimating distributional parameters and their properties.
(Typically Offered: Fall)
Credits: 3. Contact Hours: Lecture 3.
Prereq: ACSCI 4010
Method of moments and percentile matching. The method of maximum likelihood estimation for complete individual data, grouped data, censored and truncated data, and variance estimation. Bayesian estimation, including conjugate priors, posterior distributions, and the Poisson-gamma model. Credibility theory, including limited fluctuation credibility, applying Bayesian analysis for both discrete and continuous models, Buhlmann and Buhlmann-Straub models, and their relationship to Bayesian models. Simulating discrete and continuous random variables and the bootstrap method for estimating mean squared error.
(Typically Offered: Spring)