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STAT 4661 [0.5 credit] Life Contingent Risk Modelling II

Policy values; multiple state models; formulae for probability; Markov multiple state models; pension mathematics; yield curves; interest rate risk; emerging costs for life insurance; equity linked insurance; deterministic and stochastic pricing; reserving, participating, and universal life insurance.
Precludes additional credit for STAT 3662 (no longer offered).
Prerequisite(s): STAT 3661 with a grade of C+ or higher; or permission of the School.
Lectures three hours a week, tutorial one hour a week.