2001-2002 Calendar: Actuarial Studies Courses

ACT Actuarial Science Courses

For Distribution Requirement purposes, all ACT courses are classified as SCIENCE courses (see Pages 37ff).

ACT240H1
Mathematics of Investment and Credit 26L, 13T

Interest, discount and present values, as applied to determine prices and values of annuities, mortgages, bonds, equities; loan repayment schedules and consumer finance payments in general; yield rates on investments given the costs on investments.
Prerequisite: MAT133H/135H/137H/157H

ACT245H1
Fundamental Principles of Actuarial Science 26L, 13T

Introduction to basic concepts of risk management; utility theory; application of calculus and probability to analyze claim and loss frequency and severity of distributions; premium determination; insurance with deductible, reinsurance and self-insurance.
Pre- or co-requisite: ACT240H; STA257H; MAT235Y/237Y

ACT247H1
Introductory Life Contingencies 39L

Probability theory applied to survival and to costs and risks of life assurances, life annuities, and pensions; analysis of survival distributions; international actuarial notation, annual benefit premium.
Pre- or co-requisite: ACT240H; STA257H; MAT235Y/237Y

ACT348H1
Advanced Life Contingencies 39L

Determination of benefit reserves for life insurance and annuities; analysis of insurance loss random variables; theory of life contingencies for multiple lives, multiple decrement theory.
Prerequisite: ACT245H, 247H; MAT235Y/237Y

ACT349H1
Topics in Actuarial Mathematics 26L, 13T

Actuarial applications of financial mathematics and economics.
Prerequisite: ACT240H, 245H; ECO206Y

ACT370H1
Asset and Liability Management 39L

Duration and immunization of fixed income cash flows; stochastic interest rate models applied to the valuation of interest contingent fixed income securities; introduction to valuation of financial derivatives.
Prerequisite: ACT240H, 245H; STA257H; MAT235Y/237Y

ACT398H0/399Y0
Independent Experiential Study Project

An instructor-supervised group project in an off-campus setting. See page 44 for details.

ACT451H1
Risk Theory 39L

Collective risk model; payment and loss random variables; claim count process; the surplus process; ruin models.
Pre- or co-requisite: ACT348H; STA347H

ACT455H1
Advanced Topics in Actuarial Mathematics 39L

Applications of probability models and stohastic processes; simulation models.
Pre- or co-requisite: ACT348H, 451H; STA347H

ACT460H1
Estimation of Survival and Loss Models 39L

Maximum likelihood estimation, censoring and truncation. Non-parametric and semi-parametric methods.
Prerequisite: ACT348H; STA257H

ACT466H1
Credibility Theory and Loss Models 39L

Bayesian estimation, credibility theory, maximum likelihood methods; properties of loss models.
Pre- or co-requisite: ACT348H; STA257H, 261H

ACT470H1
Advanced Pension Mathematics 39L

Topics in pension mathematics; funding methods for pension plans. (Offered in alternate years)
Prerequisite: ACT348H or permission of instruction

ACT471H1
Actuarial Applications of Finance 39L

Assets, liability and investment management for pension plans. (Offered in alternate years)
Prerequisite: ACT348H or permission of instruction

ACT472H1
Issues in Actuarial Practice 39L

Practical issues that arise for insurance, pension and casualty actuaries.
Prerequisite: ACT348H

ACT496H1/497H1
Readings in Actuarial Science TBA

Independent study under the direction of a faculty member. Persons wishing to take this course must have the permission of the Undergraduate Secretary and of the prospective supervisor.

ACT498Y1/499Y1
Readings in Actuarial Science TBA

Independent study under the direction of a faculty member. Persons wishing to take this course must have the permission of the Undergraduate Secretary and of the prospective supervisor.