The course covers frequency and severity distributions, individual and collective models, ruin theory, reinsurance, and simulation. There are weekly homework assignments, two or three midterms, and a final exam. Grades are determined by written exams and assignments. After mastering the material in the course, students would be prepared to take the Society of Actuaries and the Casualty Actuarial Society Course 3. From Data to Decisions by Klugman, Panjer, and Willmot.
Classes consist of lectures by a faculty member.
This is a course on the theory of compound interest. A basic knowledge of calculus is assumed. Students' main activities are solving problems. After mastering the material in this course, students would be prepared to take the Society of Actuaries Examination 140. This material also is tested on Part 4 of the Casualty Actuarial Society Exams.