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 ²ÝÝ®ÎÛÊÓƵµ¼º½ Calendar 2012-2013 COURSES OF INSTRUCTION Course Descriptions A Actuarial Science ACSC
Actuarial Science ACSC
ACSC 325 327 425 427 525 527 533 535 539
 

Instruction offered by members of the Department of Mathematics and Statistics in the Faculty of Science.

Department Head - M. Lamoureux

Note: For listings of related courses, see also Applied Mathematics, Mathematics, Pure Mathematics, and Statistics.
 
Senior Courses
 
Actuarial Science 325       Theory of Interest/Mathematics of Finance
Measurement of interest, elementary annuities, general annuities, amortization schedules and sinking funds, bonds and other securities.
Course Hours: H(3-1T)
Prerequisite(s): Mathematics 253 or 283 or Applied Mathematics 219; or Mathematics 249 or 251 or 281 or Applied Mathematics 217 with the permission of the Division.
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Actuarial Science 327       Life Contingencies I
The survival function, force of mortality, life tables, analytical laws of mortality, life insurance, continuous and discrete life annuities, recursion equations. Introduction to benefit premiums and/or insurance and annuity models with interest as a random variable as time permits.
Course Hours: H(3-1T)
Prerequisite(s): A grade of "C" or higher in Mathematics 321.
Notes: Actuarial Science 325 is recommended.
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Actuarial Science 425       Intermediate Topics in Finance and Investment
Selected topics relevant to students with an interest in actuarial science, enterprise risk management, financial mathematics, etc. Topics include financial instruments; sources and cost of capital; portfolio selection; CAPM and alternatives; dividend policy; taxation; basic option pricing theory; stock valuation; measurement and assessment of financial performance; risk management.
Course Hours: H(3-0)
Prerequisite(s): Actuarial Science 325 and Mathematics 323 or Statistics 323; or Actuarial Science 325 and completion of at least 10 full-course equivalents and with the permission of the Division.
Notes: Not open to students with credit for Finance 317 without the permission of the Division.  Students with credit for Finance 317 but requiring Actuarial Science 425 for VEE credit from the Society of Actuaries should consult with the Division.
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Actuarial Science 427       Life Contingencies II
Benefit premiums, premium principles, fully continuous and fully discrete premiums. Benefit reserves and their analysis. Insurance models including expenses.
Course Hours: H(3-0)
Prerequisite(s): Mathematics 323 or Statistics 323 and Mathematics 353 or 381 and Actuarial Science 327.
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Actuarial Science 525       Mathematics of Graduation
Preparation and testing of graduations of mortality tables; graduation by the moving-weighted average, graphic, Whittaker, Bayesian, parametric and smooth-junction interpolation methods; use of statistical methods for graduation.
Course Hours: H(3-0)
Prerequisite(s): Actuarial Science 327 and Mathematics 323 or Statistics 323; or consent of the Division.
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Actuarial Science 527       Life Contingencies III
Multiple life functions, dependent and independent models, related annuities and insurances. Multiple decrement models: time until and causes of death. Associated single decrement tables. Applications of  multiple decrement theory. Asset shares. Business and regulatory considerations.
Course Hours: H(3-0)
Prerequisite(s): Actuarial Science 327 and Mathematics 323 or Statistics 323 and Mathematics 353 or 381.
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Actuarial Science 533       Credibility Theory and Loss Distributions
Distributions useful for modelling insurance loss random variables. Approximations for and estimation of these loss distributions. Point and interval estimation, and tests of statistical hypotheses. Introduction to credibility theory, experience rating and claims reserving. Bayesian inferential techniques. Stochastic simulation and computational techniques.
Course Hours: H(3-0)
Prerequisite(s): Actuarial Science 327 and Mathematics 323 or Statistics 323.
Notes: Statistics 437 is strongly recommended as preparation for this course.
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Actuarial Science 535       Mathematics of Demography
Conventional and adjusted measures of mortality; measures of fertility; measures of morbidity; North American demographic characteristics and trends; evaluation of demographic data; projections for stable and stationary populations; actuarial applications of demographic characteristics and trends.
Course Hours: H(3-0)
Prerequisite(s): Actuarial Science 327 and Mathematics 323 or Statistics 323.
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Actuarial Science 539       Special Topics in Actuarial Science
Offered under various subtitles.
Course Hours: H(3-0)
Prerequisite(s): Actuarial Science 327 and Mathematics 323 or Statistics 323 and Mathematics 353 or 381 or consent of the Division.
MAY BE REPEATED FOR CREDIT
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