Undergraduate Calendar 2000-2001

Undergraduate Officer
M. Hardy, MC 6016A, ext. 5510

Note

ACTSC200s

ACTSC 221 F,W,S 3C 0.5
Mathematics of Investment
The theory of rates of interest and discount; annuities and sinking funds with practical applications to mortgage and bond questions. Yield rates.
Prereq: At least second-year standing
Antireq: ACTSC 231
ACTSC 221 cannot be counted for credit toward a BMath Honours Actuarial Science degree.
Also available by Distance Education in certain terms.

ACTSC 231 F,W,S 3C,1T 0.5
Mathematics of Finance
The theory of rates of interest and discount including the theoretical continuous case of forces of interest and discount. Annuities and sinking funds, including the continuous case. Practical and theoretical applications primarily to mortgages and bonds. Yield rates.
Prereq: MATH 137 and second-year standing
Antireq: ACTSC 221


ACTSC 232 F,W,S 3C 0.5
Introduction to Actuarial Mathematics
The economics of insurance, utility theory. Application of probability to problems of life and death. The determination of single premiums for insurances and annuities in both the discrete and continuous case.
Prereq: ACTSC 231, STAT 230
Antireq: ACTSC 222


ACTSC300s

ACTSC 331 W,S 3C 0.5
Life Contingencies 1
Net annual premiums and net premium reserves. Multiple life functions and multiple decrement models.
Prereq: ACTSC 232


ACTSC 332 F 3C 0.5
Life Contingencies 2
Insurance models including expenses. Nonforfeiture benefits and dividends. Introduction to pension mathematics. Miscellaneous topics.
Prereq: ACTSC 331


ACTSC 338 W 3C 0.5
Graduation of Life Tables
Theory and methods of data graduation with particular reference to life tables.
Prereq: ACTSC 232


ACTSC 363 F 3C 0.5
Introduction to Casualty Insurance
What makes a risk insurable. The economics of insurance. The ratemaking process. Auto ratemaking in Canada. An introduction to property/casualty loss reserving techniques.
Prereq: ACTSC 231


ACTSC400s

ACTSC 431 F,S 3C 0.5
Loss Models
Methods of estimation for the distribution of the severity and frequency of losses. Properties of parametric severity and frequency models. The effect of policy modifications. The distribution of aggregate claims. Applications in insurance.
Prereq: STAT 330, 333


ACTSC 432 F,S 3C 0.5
Credibility and Ruin Theory
Limited fluctuation and greatest accuracy credibility theory. The Bayesian and credibility premiums. The Buhlmann and Buhlmann-Straub models. Exact credibility. Empirical Bayes parameter estimation. The adjustment coefficient and the Cramer-Lundberg ruin inequality. Exact and asymptotic results. Related results.
Prereq: STAT 330, 333


ACTSC 433 W 3C 0.5
Analysis of Mortality Data
Methods of analysis to produce rates for mortality and other decrements.
Prereq: ACTSC 232, STAT 330


ACTSC 435 F 3C 0.5
Introduction to Demographic Statistics
Topics in demography with emphasis on population projections, mortality theories, and construction of life tables.
Prereq: ACTSC 232


ACTSC 445 S,F 3C 0.5
Asset-Liability Management
Duration analysis and immunization. Portfolio selection. Interest rate derivative securities and their applications in asset-liability management. Stochastic investment modelling for actuarial applications.
Prereq: ACTSC 231, STAT 330 or consent of instructor


ACTSC 446 F 3C 0.5
Mathematical Models in Finance
Mathematical techniques used to price and hedge derivative securities in modern finance. Modelling, analysis and computations for financial derivative products, including exotic options and swaps in all asset classes. Applications of derivatives in practice.
Prereq: STAT 330, 333, and ACTSC 231 or consent of instructor.
Cross-listed as STAT 446.


ACTSC 453 W 3C 0.5
Basic Pension Mathematics
Theory and practice of pension plan funding. Assumptions, basic actuarial functions and population theory applied to private pensions. Concepts of normal costs, supplemental liability, unfunded liability arising from individual accrued benefit and projected benefit cost methods.
Prereq: ACTSC 232
Coreq: ACTSC 331


ACTSC 458 S 3C 0.5
Insurance Law
Topics in Canadian and American Insurance Law.
Prereq: ACTSC 331, MTHEL 305B


ACTSC 459 3C 0.5
Group Life and Health Insurance
A survey of coverages, Crown Programmes, legal requirements and rationale. Gross premium calculations. Reserving methods. Introduction to managed care.
Prereq: ACTSC 331, MTHEL 305B


ACTSC 462 W 3C 0.5
Casualty Insurance
Individual risk rating. Risk classification in property/casualty insurance. Reinsurance. Expense issues. Reserving for insurance and loss adjustment expenses. Investment income.
Prereq: ACTSC 363

The Undergraduate Calendar is published by the
Office of the Registrar, University of Waterloo, Waterloo, ON N2L 3G1 Canada
Inquiries: infoucal@www.adm.uwaterloo.ca
Revised February 2000