Master of Actuarial Science
Course Descriptions
AS 8340 – Life Contingencies
3 hours
This course is an introduction to life contingencies as applied in actuarial practice. Topics include present value random variables for contingent annuities and insurance, their distributions and actuarial present values, equivalence principle, and other principles for determining premiums.
AS 8350 – Insurance Mathematics
3 hours
This course consists of life insurance as well as non-life insurance mathematics. Topics include insurance and annuity reserves, characterization of discrete and continuous multiple decrement models, paid and incurred loss development, loss reporting and settlement delay.
AS 8389 – Directed Readings in Actuarial Science
1 – 3 hours
AS 8420 – Linear Regression and Time Series
3 hours
This course provides a rigorous introduction to the applied statistical methods and econometrics. The course comprises two main components. The first is the analysis of variance models and multiple regressions, including least-square estimate of parameters, hypothesis testing, and confidence intervals; it also includes testing of models for heteroscedasticity, series correlation, and multicolonearity. The second is discussion of time series, including moving average autoregressive and ARIMA models, estimation and forecasting errors and confidence intervals. The course involves significant components of data analysis exercises.
AS 8430 – Loss Distributions and Credibility Theory
3 hours
This course provides an introduction to fitting and validating actuarial models, including estimating loss distributions and applying credibility theory, tests of goodness-of-fit for frequency and severity distributions, and credibility of information obtained from various sources.
AS 8440 – Advanced Survival Models
3 hours
This course continues the study of survival models. It begins with an analysis of censored or truncated lifetime data, then continues with estimation of summary survival statistics. Another theme covered is hypothesis testing of hazard rates. Regression models for censored or truncated data are discussed in detail.
AS 8520 – Principles of Property and Casualty Ratemaking
3 hours
This course covers techniques for pricing property and casualty insurance products in a regulated, competitive market. Topics include selection and evaluation of ratemaking techniques, methods of trending and projecting claims and premiums, and sources, uses and selection of data for ratemaking.
AS 8810 – Actuarial Science and Graduate Seminar
3 hours
This course introduces the student to the practical considerations of actuarial modeling taught through a seminar format. The interactive approach of the seminar requires students to draw upon knowledge from the basic actuarial courses and learn modeling skills in a hands-on environment. This course emphasizes communication skills, teamwork, and synthesis of subjects in an applied setting. Professional standards applicable to actuarial work are reviewed.