The request to create MATH 4129 and revise MATH 2428, 3128, and 3129
Date: January 23, 2015
To: College of Liberal Arts & Sciences
From: Office of Academic Affairs
Approved On: January 15, 2015
Approved by: Undergraduate Course and Curriculum Committee
Implementation Date: Summer 2015
Note: Deletions are strikethroughs. Insertions are underlined.
Catalog Copy
MATH 4129. Actuarial Science IIB. (3) Prerequisites: MATH 3129 or permission of the department. Premiums: benefit premiums, gross premiums, variance of future loss. Reserves: prospective and retrospective formulas, gross and expense reserves. Multiple decrement models. Multiple lives: joint life and last survivor probabilities, moments, contingent probabilities, common stock, insurances and annuities. This course is the second of two preparatory courses for Actuarial Exam MLC. (Spring)
MATH 2428. Actuarial Science IA: Mathematical Theory of Interest. (3) Prerequisite: MATH 1242 or MATH 2120. The measurement of interest: simple, compound, nominal, effective, dollar-weighted, time-weighted, force of interest; yield rates; equation of value; basic and more general annuities amortization schedules and sinking funds. (Fall)
MATH 3128. Actuarial Science IB. (3) Prerequisite: MATH 2428 or permission of department. The mathematical theory of compound interest, term structure of interest, annuities, perpetuities, loans, bonds, stocks, derivative, forwards, futures, short and long positions, call and put options, spreads, collars, hedging, arbitrage, and swaps. (Spring)
MATH 3129. Actuarial Science IIA. (3) Prerequisites: MATH 3122 and MATH 3128 or permission of department. The theory and application of contingency mathematics in the life and casualty areas, deterministic and probabilistic models for annuities and pensions, additional models of risks and financial transactions. Life contingent models and application to insurance and annuities. Survival distribution: probability functions, life tables, force of mortality, mortality laws, life expectancy, select mortality; Insurance: continuous and discrete, moments, precentiles, recursive formulas; Annuities: continuous and discrete, whole life, temporary, deferred, actuarial present and accumulated values, moments, precentiles, recursive formulas; Premiums: benefit premiums for continuous and discrete insurance, gross premiums, variance of future loss. This course is the first of two preparatory courses for Acuarial Exam MLC. (Fall)