Actuarial Mathematics (ACT)
A synthesis of macroeconomic issues, quantitative aspects of finance using interest theory, and insurance economics.
The application of calculus to discrete and continuous interest functions. Key topics are the measurement of interest, present and accumulated values, and annuities. May not be held with the former ACT 3320.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisite: MATH 1232 or the former MATH 1690 or MATH 1700 (B) or MATH 1710 (B).
Equiv To: ACT 3320
Mathematical tools for the quantitative assessment of risk and their application to problems encountered in risk management.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisite or co-requisite: STAT 2400 (D) or consent of instructor.
Étude de l'intérêt composé et des rentes discrètes et continues; équations de valeur, analyse de fonds; détermination de taux de rendement; construction de tables. On ne peut se faire créditer ACT 2321 et ACT 2320 et ACT 3320.
Elementary concepts respecting the quantification of the financial impact of contingent payments. May not be held with ACT 3630.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisites: ACT 2120 (C+) and [STAT 2800 (D) or the former STAT 3400 (D) or the former STAT 3500 (D)].
Mutually Exclusive: ACT 3630
Intermediate and advanced concepts respecting the quantification of the financial impact of contingent payment. May not be held with ACT 3630.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisite: ACT 3340 (C+).
Mutually Exclusive: ACT 3630
Introduction of valuation practices in actuarial science, including rational valuation of derivative securities, valuation for a life insurance policy, and ratemaking and reserving for property and casualty insurance.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisite: ACT 3130 (C+) or consent of instructor.
A selection of advanced topics of current actuarial interest.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisite: ACT 3230 (D).
Construction of generalized linear models and regression-based time series models with actuarial applications. May not be held with IDM 4050 when titled "Time Series and Regression Analysis for Management".
PR/CR: A minimum grade of C is required unless otherwise indicated.
Pre- or co-requisite: STAT 3100 (D) or the former STAT 3600 (D) or the former STAT 3800 (D).
Mutually Exclusive: IDM 4050
Introduction to useful frequency and severity models, aggregate models, risk measures and construction and selection of parametric and non-parametric models. May not be held with the former ACT 4140 or the former ACT 4630.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Pre- or co-requisite: STAT 3100 (D) or the former STAT 3600 (D) or the former STAT 3800 (D).
Mutually Exclusive: ACT 4140, ACT 4630
Introduction to useful credibility theory, insurance and reinsurance coverage, and pricing and reserving for short term insurance coverages. This course covers part of the learning objectives of Short-Term Actuarial Mathematics Exam by the Society of Actuaries (SoA). May not be held with the former ACT 4240 or the former ACT 4630.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisite: ACT 4020 (C+) (or the former ACT 4140(C+)).
Equiv To: ACT 4240
Mutually Exclusive: ACT 4630
A variety of topics are introduced, including regression-based time series models, basic ideas of statistical learning (supervised versus unsupervised, regression versus classification, model accuracy assessment), and some key concepts, models and methods of principle components analysis, decision trees as well as cluster analysis. All models and methods are illustrated with extensive examples from business and management. May not be held with IDM 4050 when titled "Time Series and Regression Analysis for Management".
PR/CR: A minimum grade of C is required unless otherwise indicated.
Pre- or corequisite: ACT 4010 (C+).
Mutually Exclusive: IDM 4050
This course examines stochastic interest rates and tools and techniques for coping with general product issues in asset/liability management.
This course introduces a variety of topics on basic techniques for ratemaking in property and casualty insurance practice, including ethics, exposure, classification, credibility, implementation, loss adjustment, premium, etc.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Pre- or corequisite: ACT 2120 (C+) or consent of instructor.
Supervised readings in one of the areas of quantitative methods.
The course consists of several topic presentations on current trends and issues in actuarial practice. Such issues may include but are not limited to: pension; universal life; critical illness; group benefits; individual retirement savings; capital guarantees under variable products; Canadian life & health insurers; micro-insurance;agricultural insurance; reinsurance; property insurance; catastrophe risk; and code of professional conduct.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisite: ACT 3230 or consent of instructor.
This course introduces recent developments on longevity risk modelling and management. The students will be exposed to various research topics on longevity risk, mortality models for both single population and multiple populations, pricing longevity securities, measuring basis risk, and selecting hedging strategy.
A variety of mathematical methods and statistical models from quantitative risk management, including financial time series, multivariate models, aggregate risk, credit risk and operational risk.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisites: STAT 3600 or equivalent, or consent of instructor.
This course introduces applied statistical methods in actuarial science. The students will learn various research topics on regression and time series modeling in actuarial practices.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisite: written consent of instructor.