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The course introduces introductory actuarial models for property and casualty insurance, connecting model construction to professional actuarial exam syllabi and quantitative reasoning requirements. Students learn to build and calibrate severity, frequency, aggregate, and empirical or parametric models, estimate parameters, assess assumptions, apply coverage modifications, and evaluate risk measures such as VaR/TVaR. It emphasizes modeling workflows and confidence measures for business decisions.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":20,"@type":76,"position":81},"https://docshare.wps.com/document/exam/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/m-339j-probability-models-with-actuarial-applications-399201/399201/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/m-339j-probability-models-with-actuarial-applications-399201/399201.png","ImageObject",300,407,{"name":92,"@type":93},"นรินทร์","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-28","2026-09-27",true,{"@type":102,"interactionType":103,"userInteractionCount":44},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"What prerequisites are required for M 339J?","Question",{"text":112,"@type":113},"Completion of M 362K (Probability) with a grade of C- or better is required, along with at least one of M 358K (Applied Statistics) or M 378K (Mathematical Statistics) with a grade of C- or better.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"What core modeling topics will students learn?",{"text":117,"@type":113},"Students will work with survival, severity, frequency, and aggregate models, estimate parameters from sample data, and identify and apply modeling assumptions to business insurance contexts.",{"name":119,"@type":110,"acceptedAnswer":120},"How do students evaluate models and risk in the course?",{"text":121,"@type":113},"Students use tools for calibration and evaluation, including graphical procedures and goodness-of-fit tests, and compute risk measures such as VaR and TVaR, explaining their use and limitations.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},399201,1790554934,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":19,"category_name":20,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":44,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":29,"language":139,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":140,"faqs":141,"seo_title":142,"seo_description":67,"update_tm":143,"read_time":144,"preview_page_count":4},2336475104957,"https://ap-avatar.wpscdn.com/avatar/22000c4c6bd8a5076e1?x-image-process=image/resize,m_fixed,w_180,h_180&k=1787554080175789136","University of Texas, Austin Course Syllabus Department of Mathematics  \nM339J (56490): Probability Models with Actuarial Applications  \nSpring 2013  \nI. Course Title: M 339J Probability Models with Actuarial Applications (Unique 56490)  \nII. Location, Days, and Time: CPE 2.210 MWF 12:00pm-12:50pm  \nIII. Faculty: Alisa Havens, MA Lecturer of Mathematics  \nCAS Exams: 1-5, 7, C1, C2, COP, VE, VF, VS  \nOffice: RLM 13.148  \nOffice Hours: MWF 9 :00am-9:30am  \nand MW 3:30pm-4:30pm  \nAdditional hours available by appointment  \nNote: Students are expected to bring their class notes and textbook with them to office hours.  \nE-mail: [ahavens@math.utexas.edu](ahavens@math.utexas.edu) (best way to communicate)  \nTelephone: (512) 232-6189 – UT (I never check the voice mail)  \nIV . Prerequisites: M 362K (Probability) with a grade of ‘C- ’ or better, and at least one of M 358K (Applied Statistics) or M 378K (Mathematical Statistics) with a grade of ‘C- ’ or better.  \nV . Description of the Course: Introductory actuarial models for property and casualty  \ninsurance. With M 349P (Actuarial Statistical Estimates), this course covers the syllabus for the professional actuarial exam on model construction-SOA Exam C/CAS Exam 4. This class may be counted toward the quantitative reasoning flag  \nrequirement. This is a 3-credit course.  \nVI. Course Objectives: An introduction to modeling and important actuarial methods useful in modeling. A thorough knowledge of calculus, probability, and mathematical statistics is assumed. Students will be introduced to useful frequency and severity models beyond those covered in SOA Exam MLC. Students will be required to understand the steps involved in the modeling process and how to carry out these steps in solving business problems. Students should be able to: 1) analyze data from an application in a business context; 2) determine a suitable model including parameter values; and 3) provide measures of confidence for decisions based upon the model. Students will be introduced to a variety of tools for the calibration and evaluation of the models.  \nVII . Learning Outcomes: Students will become familiar with survival, severity, frequency, and aggregate models and use statistical methods to estimate parameters of such models given sample data. Students will be able to identify steps in the modeling process, understand the underlying assumptions implicit in each family of models, recognize which assumptions are applicable in a given business application, and appropriately adjust the models for impact of insurance coverage modifications. After taking both M 339J and M 349P, students will be expected to perform the tasks listed below:  \nA . Severity Models  \n1. Calculate the basic distributional quantities:  \na) Moments  \nb) Percentiles  \nc) Generating functions  \n2. Describe how changes in parameters affect the distribution.  \n3. Recognize classes of distributions and their relationships.  \n4. Apply the following techniques for creating new families of distributions:  \na) Multiplications by a constant  \nb) Raising to a power  \nc) Exponentiation  \nd) Mixing  \n5. Identify the applications in which each distribution is used and reasons why.  \n6. Apply the distribution to an application, given the parameters.  \n7. Calculate various measures of tail weight and interpret the results to compare the tail weights.  \nB . Frequency Models: For the Poisson, Mixed Poisson, Binomial, Negative Binomial, Geometric distribution and mixtures thereof:  \n1. Describe how changes in parameters affect the distribution.  \n2. Calculate moments.  \n3. Identify the applications for which each distribution is used and reasons why.  \n4. Apply the distribution to an application given the parameters.  \n5. Apply the zero-truncated or zero-modified distribution to an application given the parameters.  \nC . Aggregate Models  \n1. Compute relevant parameters and statistics for collective risk models.  \n2. Evaluate compound models for aggregate claims.  \n","cbCairLGS6o0Tpdn","https://ap.wps.com/l/cbCairLGS6o0Tpdn","pdf",242394,"English","# Course Title\n# Location, Days, and Time\n# Faculty\n# Prerequisites\n# Description of the Course\n# Course Objectives\n# Learning Outcomes\n## Severity Models\n## Frequency Models\n## Aggregate Models\n## Risk Measures\n## Construction of Empirical Models\n## Construction and Selection of Parametric Models\n## Credibility","[{\"question\":\"What prerequisites are required for M 339J?\",\"answer\":\"Completion of M 362K (Probability) with a grade of C- or better is required, along with at least one of M 358K (Applied Statistics) or M 378K (Mathematical Statistics) with a grade of C- or better.\"},{\"question\":\"What core modeling topics will students learn?\",\"answer\":\"Students will work with survival, severity, frequency, and aggregate models, estimate parameters from sample data, and identify and apply modeling assumptions to business insurance contexts.\"},{\"question\":\"How do students evaluate models and risk in the course?\",\"answer\":\"Students use tools for calibration and evaluation, including graphical procedures and goodness-of-fit tests, and compute risk measures such as VaR and TVaR, explaining their use and limitations.\"}]","M 339J Probability Models with Actuarial Applications | PDF",1790494507,15]