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| STAT 47501 - Advanced Long Term Actuarial Mathematics |
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Credit Hours: 3.00. This course covers advanced life contingencies topics such as multiple decrement models, joint life models, pension models, and profit emergence and testing for insurance products. It builds on the basic life contingent models learned in STAT 47200.
3.000 Credit hours Syllabus Available Levels: Undergraduate, Graduate, Professional Schedule Types: Distance Learning, Lecture Offered By: College of Science Department: Statistics Course Attributes: Provost Low Enroll Perm Waiver, Upper Division May be offered at any of the following campuses: West Lafayette 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. |
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