STAT 57201 - Actuarial Models - Life Contingencies

This course will cover the learning objectives for the of the Society of Actuaries Examination Fundamentals of Actuarial Mathematics (FAM). Students will understand the key features of insurance coverages and retirement financial security programs. They will understand key concepts concerning parametric and nonparametric mortality models for individual lives. Students will be able to perform calculations on the present value random variables associated with benefits and expenses and will be able to use and explain the premium and policy value calculation processes for long-term insurance coverages.

Preparation for Course
P: MA 27300, and STAT 51600 with grade of C- or better. Restricted to students with Junior or Senior class standing or Graduate students only.

Cr. 3.
Student Learning Outcomes
1. Understand the key features of insurance coverages and retirement financial security programs.
2. Apply key concepts concerning parametric and non-parametric mortality models for individual lives.
3. Perform calculations on the present value random variables associated with benefits and expenses for long term insurance coverages.
4. Use and explain the premium and policy value calculation processes for long-term insurance coverages.