STATS 3H03, Winter 2019
ACTUARIAL MATHEMATICS II
Are you considering a career as an actuary? Would you like to dip your toes into an introductory course or acquire more in-depth knowledge of the profession? Stats 3G03 and 3H03 will introduce you to the world of life insurance and the blend of mathematics, statistics and business knowledge that will be used to manage financial risks. Stats 3G03 begins with the introduction of common life insurance products, discussion of survival functions and life tables and the development of life contingent payment models that will be used to assess the costs associated with these products. Stats 3H03 takes those concepts and introduces more complex situations – sophisticated products, multiple insured lives, multiple decrements, and a more complex investment environment. The life contingent payment models discussed in Stats 3G03 will be amended to reflect these complexities and the student will learn about methods used to fund these models. Completion of Stats 3G03 and 3H03 will achieve the Society of Actuaries objectives of “developing the student’s knowledge of the theoretical basis of contingent payment models and the application of those models to insurance and other financial risks”. If you decide to pursue a career as an actuary the combined Stats 3G03 and 3H03 courses will prepare you for the ‘Models for Life Contingencies’ professional exam offered by Canadian Institute of Actuaries / Society of Actuaries.
INSTRUCTOR: M. Verbeek
Multiple life functions, multiple decrement models, valuation theory for pension plans.
Three lectures, one tutorial; one term
Prerequisite(s): STATS 3G03
PLEASE REFER TO MOSAIC FOR THE MOST UP-TO-DATE INFORMATION ON TIMES AND ROOMS