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General overview of universally useful concepts in insurance, pensions and financial management. Typical life, health and property & casualty insurance products; underwriting; pricing; reserving; regulation; social insurance; retirement plans and annuities; financial planning: mortgages, loans, wealth management. Quantitative/Breadth-Science

Measurement of interest, present value. Equations of value. Annuities. Loans and amortization schedules. Bonds and other securities. Cash flows: yield rates, duration, convexity, immunization. Yield curves: spot rates, forward rates. Interest rate swaps. Covers part of the syllabus for Exam FM of the Society of Actuaries and Exam 2 of the Casualty Actuarial Society. Quantitative

Introduction to key analytical tools used to organize and process data to support decision making.

Life tables, basic survival models. Basic life insurance and annuities: present value random variables, premium calculations, reserves. Computer applications for pricing and reserving for life insurance portfolios. Covers part of the syllabus for Exam LTAM of the Society of Actuaries. Quantitative

Short-term insurance and reinsurance coverages. Basic ratemaking and reserving for short-term insurance. Models for severity and frequency of claims. Coverage modifications: deductibles, policy limits, coinsurance. Estimation and selection of parametric models in the context of insurance. Quantitative

First term of work experience in a co-operative education program for actuarial students. Students should contact an advisor as early in their career as possible for counseling. Units from this course do not count towards the units required for an SFU degree. Grading is on a pass/withdraw basis. A course fee is required.

Second term of work experience in a co-operative education program available to actuarial students. Units from this course do not count towards the units required for an SFU degree. Grading is on a pass/withdraw basis. A course fee is required.

Option pricing models and their application to insurance and financial risks. Introduction to finance and derivatives. Option strategies and risk management. Binomial models. Black-Scholes-Merton model. Market-making, hedging, and option Greeks. Introduction to exotic options. Mean-variance portfolio theory and asset pricing models. Covers part of the syllabus for Exam 3F of the Casualty Actuarial ... Quantitative

Guided experiences in written and oral communication of actuarial ideas and results to both expert and lay audiences. Writing/Quantitative

Advanced survival models. Multiple state models. Advanced premium calculations and reserves. Profit testing. Pension plans and retirement benefits. Computer applications for pricing, reserving and risk measurement of life insurance portfolios. Covers part of the syllabus for Exam LTAM of the Society of Actuaries. Quantitative

Risk measures. Extreme value theory: models and applications. Aggregate models for claims. Regression-based approaches to claims modeling: generalized linear models, linear mixed models.

Third term of work experience in a co-operative education program available to actuarial students. Units from this course do not count towards the units required for an SFU degree. Grading is on a pass/withdraw basis. A course fee is required.

Fourth term of work experience in a co-operative education program available to actuarial students. Units from this course do not count towards the units required for an SFU degree. Grading is on a pass/withdraw basis. A course fee is required.

Optional fifth term of work experience in a co-operative education program available to actuarial students. Units from this course do not count towards the units required for an SFU degree. Grading is on a pass/withdraw basis. A course fee is required. This course may be repeated for additive credit.

Aggregate loss models. Credibility: models and estimation. Insurance and reinsurance coverages. Pricing and reserving for short-term insurance coverages. Covers part of the syllabus for Exam STAM of the Society of Actuaries. Quantitative

Ratemaking: terminology, process, trend, ultimate losses, expense provisions, profit and contingencies, overall rate indications, classification rates, increased limits. Individual risk rating: prospective systems, retrospective rating, design. Loss Reserving: accounting concepts, definitions, principles, loss reserving process. Risk classification: relationship to other mechanisms, criteria for s ... Quantitative

Independent study and/or research in topics chosen in consultation with the supervising instructor.

General probability theory and stochastic processes. Information and conditioning. Stochastic differential equations. Financial econometrics models. Economic scenario generators. Advanced option pricing.

Aggregate claims models. Models for incurred but not reported claims. Bonus-malus systems in automobile insurance. Mortality models.

Economic perspectives on risk and insurance. Risk measures. Extreme value theory. Multivariate risk models, copulas and dependence. Risk management in practice.