act480 | undergraduate
This undergraduate-level course is 7 weeks To enroll, speak with an Enrollment Representative.
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Present Value Random Variables
- Describe common probability approximation methods over a time period inherent in present value calculations.
- Present Value Random Variables.
- Describe the impact of varying assumptions in various contingent models.
- Calculate common probability metrics for contingent models.
- Explain the background and types of products and problems a life insurance actuary encounters.
- Describe the 3 main calculation methodologies (the equivalence principle, the portfolio-premium principle, and premiums determined by specified profit objectives principle).
Introduction to Policy Values and Reserves
- Describe Full Preliminary Term and Modified Net Premium Reserve methods.
- Explain Thieleâs differential equation.
- Describe Common Life insurance policy Alterations.
- Calculate Policy Values.
Profit and Advanced Valuation Concepts
- Describe the Yield curve.
- Explain Diversifiable and Non-Diversifiable risk in life insurance products.
- Describe common profit measures for life contingent products.
- Calculate common profit measures including Internal Rate of Return, Actual Profit, Gain, Expected profit.
Universal Life Insurance and Policy Dividends
- Explain Participating (dividend paying) Life Insurance.
- Calculate Participating Life Insurance Contract Values.
- Explain Universal Life Insurance.
- Calculate Univeral Life Contract values.
- Calculate Universal Life Profit measures.
- Compare Defined Benefit to Defined Contribution Pension Plans.
- Compare decrements associated with evaluating pension plans.
- Compare different models associated with evaluating pension plans.
- Explain considerations in varying assumptions of a pension evaluation.
Contingency Models for Single and Multiple Lives
- Calculate Life length expectation (how long you are expected to live based on a table).
- Explain how multiple life states and lifeprobabilities are calculated.
- Explain the survival function.
- Describe Markov chain model process.
- Describe common probability approximation methods over a time period inherent in Contingent Model calculations.
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