Fundamentals of Actuarial Mathematics I

Catalog description

This course is focused on developing a deeper understanding of probability, and mathematical modeling, especially as they pertain to applications of interest to actuaries. It covers topics such as insurance and reinsurance coverages; retirement financial security programs; characteristics of severity, frequency, and aggregate models; parametric and non-parametric estimation. Introduction to credibility, pricing and reserving, present value random variables for long-term insurance, as well as mortality models are among the topics of the course. This is the first of the two-course Fundamentals of Actuarial Mathematics sequence that prepares students for Exam FAM.