Course Descriptions
ACSC 3703 Actuarial Models I
CREDIT HOURS: 3
This class builds on the material in
STAT 3360 to develop the theoretical basis for construction and evaluation of actuarial models. Topics covered include survival models, probability distributiolns, deductibles and limits, and aggregate loss models, with application to insurance.
PREREQUISITES:
STAT 3360.03 OR
MATH 3360.03 or permission of instructor
CROSS-LISTING:
STAT 3703.03
EXCLUSIONS:
STAT 4701.03
ACSC 3720 Life Contingencies I
CREDIT HOURS: 3
This course introduces the student to the mathematical models for valuation of life contingencies (e.g. life insurance policies). The course covers both the statistical aspects of modelling survival data, and the financial aspects of valuing uncertain future cash-flows.
PREREQUISITES:
STAT 3360.03/
MATH 3360.03 and
STAT 2600.03/
MATH 2600.03
CROSS-LISTING:
STAT 3720.03
ACSC 3740 Predictive Analytics
CREDIT HOURS: 3
This course teaches students to analyze data in a real-world context, going through all stages of the data analysis: problem formulation; initial data exploration; model selection and validation; and communication of results. It is intended that this course should prepare students for the Society of Actuaries Predictive Analytics examination.
FORMAT: Lecture
LECTURE HOURS PER WEEK: 3
COREQUISITES: Stat/Math 3340
PREREQUISITES:
STAT 2450
CROSS-LISTING:
STAT 3740
ACSC 3750 Credibility Theory
CREDIT HOURS: 3
Credibility theory deals with the difficulty in combining information from two samples, one of which is small ver relevant, the other is large but less relevant. In this course, we will study different approaches to dealing with this problem.
COREQUISITES:
STAT 3703.03/
ACSC 3703.03
PREREQUISITES:
STAT 3360.03 or
MATH 3360.03
CROSS-LISTING:
STAT 3750.03
ACSC 4703 Actuarial Models II
CREDIT HOURS: 3
This course focuses on the development of statistical methods for the estimation and validation of actuarial models. Topics to be discussed include: methods of estimation, properties of estimators, goodness of fit, credibility theory, survival estimators, measures of risk, estimation of severity.
PREREQUISITES:
STAT 3703.03 or
ACSC 3703.03
CROSS-LISTING:
STAT 4703.03
ACSC 4720 Life Contingencies II
CREDIT HOURS: 3
STAT 3720.03 covers the basics of life contingencies in a simple standard situation. In this course we extend this to deal with a number of common additional features that affect life insurance policies. We introduce multiple-state models, pensions, and profit testing.
FORMAT: Lecture
LECTURE HOURS PER WEEK: 3
PREREQUISITES:
STAT 3720.03 or
ACSC 3720.03
CROSS-LISTING:
STAT 4720.03
ACSC 4950 Honours Research Project
CREDIT HOURS: 3
A requirement for the actuarial science honours degree, this course consists of a research project under the supervision of a faculty member in the department. The project will be submitted as a written report. Students wishing to enroll in this class must obtain permission from the Actuarial Science honours advisor.