Department of Statistics

Current Sections   Recent Instructors Pang, T	ST (MA) 412	Long-Term Actuarial Models
	Course Description Long-term probability models for risk management systems. Theory and applications of compound interest, probability distributions of failure time random variables, present value models of future contingent cash flows, applications to insurance, health care, credit risk, environmental risk, consumer behavior and warranties. Course Syllabus How to formulate and apply present value models incorporating future contingent payments Failure time random variables Various quantitative measures of compound interest and annuities How to calculate a variety of compound interest and actuarial functions Calculus-based compound interest Failure time distributions Formulating present value models Obtaining results from present value models Course Prerequisites MA 241 or MA 231 Course Corequisites MA 421, ST350, ST301, ST311, ST361, ST371, ST380 or equivalent Recent Textbooks Actuarial Mathematics, 2nd ed., by N. Bowers, H. Gerber (1997)