0 or 4 credits
Fall 2025 Lecture Recitation Upper DivisionMathematical foundation of actuarial science, emphasizing probability models for life contingencies as the basis for analyzing life insurance and life annuities and determining premiums and reserves. This course provides the background for Course MLC of the Society of Actuaries and Course 3L of the Casualty Actuarial Society.
Learning Outcomes1Understand and use decrement models in conjunction with interest rate models to evaluate insurance, annuities, and investments.
2Apply models to calculate actuarial values, gross and net premiums, and benefit and expense reserves. Among the decrement models learned will be standard mortality, models, static mortality table models, and continuous time Markov chains in both a single decrement and multiple decrement environment.