RM 412Long Term Actuarial Mathematics - Advanced Topics
A study of joint-life and survivor-life functions, population life tables, and multiple decrement theory, with applications to disability and retirement problems. The course provides a solid understanding of the advanced topics in long-term actuarial mathematics, and helps actuarial students prepare for the Advanced Long-Term Actuarial Mathematics (ALTAM) actuarial exam. Topics covered include: 1) Key concepts of multiple state survival models, including calculations of premium and policy values, 2) Analysis of emerging surplus and apply profit testing principles, 3) Basic pension/retirement benefits, including accrual, valuation and funding calculations, and 4) Various equity-linked life insurance guarantees and options, including relevant pricing, reserving and hedging principles. Building on these topics, students will be able to apply theoretical concepts to real-world insurance problems using a project-based approach focused on one or more advanced topics covered in the course.
Prerequisites
From the catalog: “C or better in RM 411”
Where it sits in degree plans
Suggested plans most often put it in Year 4 · Spring (2 programs).
One of the options in (1)
- Actuarial Science, B.S.
Courses that list RM 412 as a prerequisite (1)
- RM 420 Property, Casualty, and Health Insurance