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| STAT 47501 - Advanced Long Term Actuarial Mathematics |
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Associated Term:
Spring 2024
Learning Outcomes: 1. Understand key concepts concerning multiple state mortality/morbidity and joint life mortality models for insurance and annuity contracts. 2. Understand key concepts concerning estimation and construction of multiple state and joint life models for insurance and annuity contracts. 3. Perform calculations on the present value random variables associated with benefits and expenses for any of the models in the first learning objective. 4. Analyze emerging surplus, and to set premiums and reserves, using profit testing. 5. Understand how retirement benefits are accrued, valued, and funded. 6. Understand various types of equity-linked life insurance guarantees, options that are embedded in life insurance and annuity contracts and be able to price, reserve and hedge the risk inherent in these options. Required Materials: Technical Requirements: |
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