Course No:           Act 511

Course Name:      Actuarial Mathematics - 1

Course Description:      

Definition and use of straightforward functions estimation in straightforward function. Main variables, benefit, disability; and long term care contract, Calculation of net premiums and reserves. Future expenses and bonus influence of inflation. Equation of value for fixed benefits and variable benefits. Techniques of discounted emerging costs, pricing, reserving and assessing of profitability.

Decision theory; Fundamental concepts of Bayesian statistics and its use. Probabilities and moments of loss distributions, Construction of risk models. Concepts of credibility theory, rating systems, techniques for analyzing delay (or run off) triangle and projecting the ultimate position

Course Review:

These lessons are there to help in understanding of the hypothetical basis of actuarial models and its application for insurance and other financial risks. This course helps in calculation of net premiums, reserves, future expenses and bonus, influence of inflation, equation of value for benefits and variable benefits. Techniques of discounted emerging costs, pricing and assessing of profitability for different insurance policy are also included.