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STAT 3661 [0.5 credit] Life Contingent Risk Modelling I

Mixed distributions; conditional expectations; introduction to life insurance; traditional and modern insurance contracts; underwriting; premiums; pension plans and retirement benefits; survival models; reserves; present value random variable; force of mortality; life tables; insurance benefits; annuities; premium calculation.
Prerequisite(s): STAT 2660 and STAT 3506 with grades of C+ or higher; or permission of the School.
Lectures three hours a week, tutorial one hour a week.