# Actuarial Science Courses (ACT SCI)

TO MEET ANY COURSE PREREQUISITE, GRADE OF C- OR HIGHER IS REQUIRED IN THE PREREQUISITE COURSE.

### Courses

ACT SCI 3731. Actuarial Examination Preparation — 3 hrs.

Strengthening student skills solving computational problems similar to those included on actuarial examinations. Analyzing and practicing appropriate choice of problem solving techniques and strategies. May be repeated for credit for preparation for different examinations. (Fall and Spring)

ACT SCI 3780/5780. Mathematics of Finance — 3 hrs.

Measurement of interest, annuities, yield rates, amortization and sinking funds, bonds, term structure of interest rates, interest rate sensitivity, stocks and derivatives, elements of risk management. Prerequisite(s): MATH 1420; junior standing. (Same as MATH 3780/5780) (Spring)

ACT SCI 3790. Introduction to Actuarial Science — 1 hr.

Fundamental concepts of actuarial science; actuarial areas of practice; connections between coursework and actuarial practice; key competencies for actuaries, development of computing and communications skills in the context of actuarial science. Prerequisite(s): ACT SCI 3780/5780/MATH 3780/5780. (Variable)

ACT SCI 4735/5735. Actuarial Mathematics — 3 hrs.

Survival distributions and life tables, life insurance, life annuities, benefit premiums. Prerequisite(s): MATH 3752/5752; junior standing. (Even Falls)

ACT SCI 4739/5739. Topics in Actuarial Science — 3 hrs.

Topics from mathematics of life contingencies, risk theory, survival analysis, construction of actuarial tables, demography, gradation. May be repeated on different topic with consent of instructor. Prerequisite(s): MATH 3752/5752; junior standing. (Odd Springs)

ACT SCI 4785/5785. Introduction to Financial Engineering — 3 hrs.

Financial derivatives, option pricing, Binomial model, Black-Scholes formula, Greeks and hedging, introduction to stochastic calculus, financial model simulation, Monte-Carlo valuation. Prerequisite(s): MATH 3752/5752; junior standing. (Spring)

ACT SCI 4788/5788. Loss Models — 3 hrs.

Applied probability methods used in modeling loss. Loss distributions, aggregate loss models, credibility theory and long term models. Prerequisite(s): MATH 3752/5752; STAT 3775/5775; junior standing. (Odd Falls)

ACT SCI 6735. Advanced Actuarial Mathematics — 3 hrs.

Survival models for multiple state contingent cashflows, premium and policy valuation for long-term state-dependent coverages, joint life insurance and annuities, profit analysis, pension plans and retirement benefits, universal life insurance, embedded options in life insurance and annuity products. Prerequisite(s): ACT SCI 4735/5735. (Spring)

ACT SCI 6784. Predictive Analytics in Insurance I — 3 hrs.

Predictive modeling and forecast evaluation, exponential dispersion family, actuarial applications of generalized linear models, model validation and diagnostic tools, regression and classification trees, bagging trees and random forests, boosting trees, and measures for model comparison. Prerequisite(s): STAT 4786/5786; STAT 4772/5772. (Fall)

ACT SCI 6785. Predictive Analytics in Insurance II — 3 hrs.

Basic concepts of data pipeline, database management, relational databases, and data quality; applications of additive models, linear mixed models, neural networks, and Bayesian techniques in predictive analytics; accuracy, explainability, interpretability, and ethical foundations of predictive analytics models; communication and justification of a recommended analytics solution. Prerequisite(s): ACT SCI 6784. (Spring)

ACT SCI 6788. Advanced Loss Models — 3 hrs.

Construction and selection of parametric loss models, credibility, pricing and reserving for short-term insurance coverages, fundamentals of option pricing. Prerequisite(s): ACT SCI 4788/5788. (Spring)