MA 17001 - Introduction To Actuarial Science

This course introduces the student to various aspects of actuarial science. The goal is to provide an overview of the fundamental knowledge that an actuary uses when providing actuarial services, the skills needed to be a successful actuary, and guidance in how to pursue a career as an actuary. The course is a combination of instructor lectures, guest lectures from practicing actuaries, lab assignments, and homework.

Preparation for Course
P or C: MA 15300.

Cr. 2.
Student Learning Outcomes
1. Describe and apply the fundamental concepts of insurance.
2. Understand foundational concepts of the time value of money including expressions of interest rates and calculation of present values.
3. Apply basic probability principles used by actuaries.
4. Calculate the expected present value of a set of cash flows.
5. Describe and calculate the pricing and ratemaking process.
6. Define and calculate simple reserves.
7. Apply Excel to solve problems demonstrating a basic level of understanding.