This continues with the development of financial models first introduced in AT731 ("Actuarial Mathematics I"). Insurance Reserves are introduced, including methods for determining reserves, the impact of actuarial assumptions on the calculations, and the effect of real-world results that do not match those assumed. The expands on the material from AT731 by addressing multiple life and multiple decrement functions. The latter part of the course focuses on Multiple State/Markov Chains and pension mathematics. The material covered in this course may help students prepare for SoA Exam LTAM.