• Mosaic
Faculty of Science Mathematics & Statistics
Faculty of Science

# STATS 3G03, Fall 2018

ACTUARIAL MATHEMATICS I

Are you considering a career as an actuary? Would you like to dip your toes into an introductory course or acquire more in-depth knowledge of the profession? Stats 3G03 and 3H03 will introduce you to the world of life insurance and the blend of mathematics, statistics and business knowledge that will be used to manage financial risks.  Stats 3G03 begins with the introduction of common life insurance products, discussion of survival functions and life tables and the development of life contingent payment models that will be used to assess the costs associated with these products. Stats 3H03 takes those concepts and introduces more complex situations – sophisticated products, multiple insured lives, multiple decrements, and a more complex investment environment. The life contingent payment models discussed in Stats 3G03 will be amended to reflect these complexities and the student will learn about methods used to fund these models. Completion of Stats 3G03 and 3H03 will achieve the Society of Actuaries objectives of “developing the student’s knowledge of the theoretical basis of contingent payment models and the application of those models to insurance and other financial risks”. If you decide to pursue a career as an actuary the combined Stats 3G03 and 3H03 courses will prepare you for the ‘Models for Life Contingencies’ professional exam offered by Canadian Institute of Actuaries / Society of Actuaries.

INSTRUCTOR:  M. Verbeek

Course Website

Calendar Description
3 Units
Survival distributions, life tables, life insurance, life annuities, net premiums and reserves.
Three lectures, one tutorial; one term
Prerequisite(s): STATS 2D03; and one of MATH 2FM3, 2K03

PLEASE REFER TO MOSAIC FOR THE MOST UP-TO-DATE INFORMATION ON TIMES AND ROOMS

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Department of Mathematics & Statistics
McMaster University

Hamilton Hall, Room 218
1280 Main Street West
L8S 4K1

### Contact Information

Office Hours:
8:30 a.m. - 12:00 p.m.
1:00 p.m. - 4:30 p.m.
Telephone Inquiries:
+1 (905) 525-9140 ext.27034

Department of Mathematics & Statistics
McMaster University

Hamilton Hall, Room 218
1280 Main Street West