Actuarial Mathematics I

MET AT 731

This course covers the fundamental principles of actuarial science. Students will be introduced to basic actuarial concepts of survival models, such as probabilities of survival and death, then use these concepts to develop expressions for life expectancies. Life insurance and life annuities are then introduced, and the course will develop detailed methods for the valuation of each, including payments made more often than annually. The final topic for the course is the methodology of calculation of premiums for both insurance and annuity models. For all these topics, a basic framework will be presented, then more sophisticated models are developed. The material covered in this course may help students prepare for SoA Exam LTAM.