Fundamentals of Actuarial Mathematics - MATH 2511 - Course outline 2024-2025 Fall

Sep 27, 2026

Hong Kong University of Science and Technology UG course outline for MATH 2511 Fundamentals of Actuarial Mathematics (3 credits) in Fall 2024-2025. The course builds competency in interest theory and time value of money, covering present and future values, annuities, loan amortization, bond valuation and yield, rate of return, yield curve and term structure, duration and convexity, immunization, stock valuation, capital budgeting, dynamic cash-flow processes, and asset–liability management. It specifies prerequisites in single-variable calculus and criterion-referenced assessment aligned to stated ILOs.

LanguageEnglish

CategoryExam

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Pages3

Reading Time8 min

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Course Description

Intended Learning Outcomes (ILOs)

Assessment and Grading

Grading Rubrics

Course AI Policy

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Required Texts and Materials

The Hong Kong University of Science and Technology UG Course outline 2024-2025 Fall [Course Title] Fundamentals of Actuarial Mathematics [Course Code] MATH 2511 [No. of Credits] 3 [Any pre-/co-requisites] A good knowledge in single variable calculus (equivalent to MATH 1003 OR MATH 1014 OR MATH 1020 OR MATH 1024) . Name: [Instructor] Prof. Qian, Shuaijie Email: [sjqian@ust.hk](sjqian@ust.hk) Office Hours: Thursday, 10:30 a. m.-11:30 a. m. Office 3488 Course Description This course covers the fundamental concepts of actuarial financial mathematics and how these concepts be applied in calculating present and future values for various streams of cash flows. It is of three credits. Topics covered include interest rates, present value and future value, annuities, loan repayment, bond value, bond and portfolio yield, rate of return, yield curve, term structure of interest rates, duration and convexity of general cash flows and portfolio, immunization, stock valuation, capital budgeting, dynamic cash flow processes, and asset and liability management. The course syllabus is same as part 1 (Interest theory) of Financial Mathematics Exam (dated Dec 2023) offered by Society of Actuary (SOA) . For detail, please visit [https://www.soa.org/education/exam-req/edu-exam-fm-detail.aspx](https://www.soa.org/education/exam-req/edu-exam-fm-detail.aspx) Intended Learning Outcomes (ILOs) Upon successful completion of this course, you should be able to 1. Explain fundamentals of interest rates, time value of money and annuity. 2. Compute the return rate of a given investment. 3. Compare the merits of various investment options 4. Construct loan amortization tables 5. Analyze the value of a bond given its price, contract interest rate and maturity date. 6. Develop problem solving skill which is essential in studying advanced courses in Actuarial Science. Assessment and Grading This course will be assessed using criterion-referencing and grades will not be assigned using a curve. Detailed rubrics for each assignment are provided below, outlining the criteria used for evaluation. Assessments: [List specific assessed tasks, exams, quizzes, their weightage, and due dates; perhaps, add a summary table as below, to precede the details for each assessment.] | Assessment Task | Contribution to Overall Course grade (%) | Due date (if applicable) | | --- | --- | --- | | Homework | 20% | | | Midterm | 30% | | | Final Exam | 40% | | | Others | 10% | | * Assessment marks for individual assessed tasks will be released within two weeks of the due date. Mapping of Course ILOs to Assessment Tasks | Assessed Task | Mapped ILOs | Explanation | | --- | --- | --- | | Homework | ILO 2, 3, 4, 5 | | | Midterm | ILO 1, 2, 3, 4, 5, 6 | | | Final Exam | ILO 1, 2, 3, 4, 5, 6 | | | Others: Participation and Interaction | ILO 1, 3, 4, 5, 6 | | Grading Rubrics [Detailed rubrics for each assignment will be provided. These rubrics clearly outline the criteria used for evaluation. Students can refer to these rubrics to understand how their work will be assessed.] Final Grade Descriptors: [As appropriate to the course and aligned with university standards] | Grades | Short Description | Elaboration on subject grading description | | --- | --- | --- | | A | Excellent Performance | Demonstrates a comprehensive grasp of subject matter, expertise in problem-solving, and significant creativity in thinking. Exhibits a high capacity for scholarship and collaboration, going beyond core requirements to achieve learning goals. | | B | Good Performance | Shows good knowledge and understanding of the main subject matter, competence in problem-solving, and the ability to analyze and evaluate issues. Displays high motivation to learn and the ability to work effectively with others. | | C | Satisfactory Performance | Possesses adequate knowledge of core subject matter, competence in dealing with familiar problems, and some capac

FAQs

What topics are covered in MATH 2511 Fundamentals of Actuarial Mathematics?

The course covers interest rates, present and future values, annuities, loan repayment, bond value and yield, return rate, yield curve and term structure, duration and convexity, immunization, stock valuation, capital budgeting, dynamic cash-flow processes, and asset and liability management.

What are the learning outcomes students are expected to achieve after completing the course?

Students should explain interest fundamentals and time value of money, compute investment return rates, compare investment options, construct loan amortization tables, analyze bond value from price and contract terms, and develop problem-solving skills needed for advanced actuarial studies.

How is the course graded and what assessments contribute to the final grade?

Assessment uses criterion-referencing with no curve. Homework contributes 20%, Midterm 30%, Final Exam 40%, and Others 10%, with marks released within two weeks of each due date.

Sep 27, 2026

Uploaded by River Wang