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The course emphasizes modeling fundamentals and practical actuarial methods, including frequency, severity, and aggregate models, calibration, evaluation, and coverage modifications. Students develop quantitative reasoning by analyzing business-context data, estimating parameters, and providing confidence measures through tools such as distributional moment calculations, empirical estimators, and risk measures like VaR and TVaR.",{"@graph":69,"@context":123},[70,84,106],{"@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/398971/",{"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/398971.png","ImageObject",300,407,{"name":92,"@type":93},"Terk","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-11-06","2026-09-27",true,{"@type":102,"interactionType":103,"userInteractionCount":105},"InteractionCounter",{"@type":104},"ViewAction",11,{"@type":107,"mainEntity":108},"FAQPage",[109,115,119],{"name":110,"@type":111,"acceptedAnswer":112},"What prerequisites are required for M 339J?","Question",{"text":113,"@type":114},"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":116,"@type":111,"acceptedAnswer":117},"What models will students learn to use in the course?",{"text":118,"@type":114},"Students learn survival, severity, frequency, and aggregate models, estimate parameters from sample data, and adjust models based on insurance coverage modifications.",{"name":120,"@type":111,"acceptedAnswer":121},"Which risk measures are included in the learning outcomes?",{"text":122,"@type":114},"The course includes calculating VaR and TVaR, explaining their use and limitations as risk measures.","https://schema.org",{"og:url":83,"og:type":125,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":127,"canonical":83},"index,follow",{"doc_id":129,"site_id":62},398971,1790578714,{"code":4,"msg":5,"data":132},{"doc_id":129,"user_id":133,"nickname":92,"user_avatar":134,"doc_module":4,"category_id":19,"category_name":20,"doc_title":65,"doc_description":67,"doc_content":135,"file_id":136,"file_url":137,"file_type":138,"file_size":139,"view_count":105,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":34,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":144,"read_time":145,"preview_page_count":4},1099525198933,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","University of Texas, Austin Course Syllabus Department of Mathematics  \nM339J (54585): Probability Models with Actuarial Applications  \nSpring 2017  \nI. Course Title: M 339J Probability Models with Actuarial Applications (Unique 54585)  \nII. Location, Days, and Time: NOA 1.116 MWF 12:00pm-12:50pm  \nIII. Faculty: Alisa Havens Walch, MA, FCAS Lecturer of Mathematics  \nAssistant Director of Actuarial Studies  \nCAS Exams: 1-9, C1, C2, COP, VE, VF, VS  \nOffice: RLM 13.148  \nOffice Hours: MWF 9:30am-10 : 15am  \nand MW 2:45pm-3:15pm  \nAdditional hours available by appointment, if you cannot make the scheduled office hours. Appointments may be held in Canvas  \nconferences.  \nNote: Students are expected to bring their class notes and textbook with them to office hours. (I may not help you if you don’t have your notes with you.)  \nE-mail: [ahavens@math.utexas.edu](ahavens@math.utexas.edu) (best way to communicate)  \nTelephone: (512) 232-6189 – UT (voice mail not set up)  \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 (credit for CAS Exam 4) .  \nIn addition, this course carries the Quantitative Reasoning Flag. Quantitative Reasoning courses are designed to equip you with skills that are necessary for understanding the types of quantitative arguments you will regularly encounter in your adult and professional life. You should therefore expect a substantial portion of your grade to come from your use of quantitative skills to analyze real-world problems.  \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. 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.  \n8. Identify and describe two extreme value distributions.  \nB . Frequency Models: For the Poisson, Mixed Poisson, Binomial, Negativ","cbCaipjNNKqzFcXi","https://ap.wps.com/l/cbCaipjNNKqzFcXi","pdf",336056,"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## Estimation and Parametric Models","[{\"question\":\"What prerequisites are required for M 339J?\",\"answer\":\"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 models will students learn to use in the course?\",\"answer\":\"Students learn survival, severity, frequency, and aggregate models, estimate parameters from sample data, and adjust models based on insurance coverage modifications.\"},{\"question\":\"Which risk measures are included in the learning outcomes?\",\"answer\":\"The course includes calculating VaR and TVaR, explaining their use and limitations as risk measures.\"}]","M 339J - Probability Models with Actuarial Applications | PDF",1790490623,18]