COMPREHENSIVE EXAMINATION

SYLLABUS

ACTUARIAL SCIENCE CONCENTRATION

The test will cover basic material in theory of interest and the theory of single-life contingencies.  A rough list of concepts covered includes compound interest, equations of value, annuities, yield rates, amortization, life tables, remaining life-time random variables, net single premiums, actuarial present value, the equivalence principle, net premiums, and premium reserves.

Basic reading is from the course texts as follows:

1. Interest Theory: 
   Option 1: Kellison (2nd edition):  Chapters 1, 2, 3, 4, 5.1-5.6, 6.1-6.4
   Option 2: Broverman (3rd edition): Chapters 1, 2 (less 2.4.2 and 2.4.3), 3 (less 3.4), 4 (less 4.3.2), 5 (less 5.1.3, 5.1.4, 5.3.2), 6 (less 6.2 and 6.4)
2. Life Contingencies:
   Option 1: Bowers, et. al (2nd edition):  Chapters 3, 4.1-4.4, 5.1-5.5, 6.1-6.4, 7.1-7.5
   Option 2: Cunningham, et. al (2nd edition): Chapters 3-8