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Feb 18, 2026
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MA 17000 - Introduction To Actuarial Science
Credit Hours: 2.00. (STAT 17000) An introduction to actuarial science from the point of view of practicing actuaries from life insurance, casualty insurance and consulting; introduction to insurance and the mathematical theory of interest; application of spreadsheets to problems related to actuarial science.
Learning Outcomes
1. Describe different expressions of interest rates. Calculate an equivalent rate given another rate.
2. Calculate the present value of a set of cash flows.
3. Apply basic probability principles.
4. Describe and apply different types of probabilities used by actuaries.
5. Calculate the expected present value of a set of cash flows.
6. Describe basic types of insurance and their characteristics.
7. Define and apply basic components of insurance. Examples: premium, claim, deductible, coverage, limit, coinsurance, insured, owner.
8. Describe the ratemaking process. Calculate the rate of a simple insurance product.
9. Describe the pricing process. Calculate the price of a simple insurance product.
10. Describe different accounting regimes and their purposes.
11. Define a policy reserve. Calculate a simple policy reserve.
12. Define a loss reserve. Calculate a simple loss reserve.
13. Demonstrate a basic level of knowledge by applying Excel to solve problems.
Credits: 2.00
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