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Explains actuarial science as the discipline using mathematical and statistical methods to quantify risk in insurance, pensions, finance, investment, and related industries. Covers core topics such as time value of money, life insurance and reserves, Monte Carlo methods, non-life insurance models, reinsurance, Markov chains, insurance products, and links to finance concepts like ruin problems, portfolio optimization, and Black-Scholes.",{"@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/problems-and-methods-in-actuarial-science-autumn-2022-uio/399076/",{"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/problems-and-methods-in-actuarial-science-autumn-2022-uio/399076.png","ImageObject",300,407,{"name":92,"@type":93},"Jake","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-11-04","2026-09-27",true,{"@type":102,"interactionType":103,"userInteractionCount":105},"InteractionCounter",{"@type":104},"ViewAction",16,{"@type":107,"mainEntity":108},"FAQPage",[109,115,119],{"name":110,"@type":111,"acceptedAnswer":112},"What is “actuarial science” in the course notes?","Question",{"text":113,"@type":114},"Actuarial science applies mathematical and statistical methods to assess risk in insurance, pensions, finance, and investment, modeling uncertainty rigorously for matters of uncertain occurrence, severity, and timing.","Answer",{"name":116,"@type":111,"acceptedAnswer":117},"How is the course structured across the weeks?",{"text":118,"@type":114},"The course is organized into an introduction, Finance Part 1, Non-Life insurance, and Finance Part 2, including topics such as time value of money, life-tables and reserves, Monte Carlo simulation, and options-related results like ruin and Black-Scholes.",{"name":120,"@type":111,"acceptedAnswer":121},"Which logistics and requirements are specified for the exam course?",{"text":122,"@type":114},"Classes run Tuesdays and Wednesdays 8:25–10:00, presentations and solutions are published on the course website, an exam is held December 19th at 15:00 at Silurveien 2 Sal 3B, and slides required for the exam are marked with a red square in the top-right corner.","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},399076,1790578618,{"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":140,"language":141,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":142,"faqs":143,"seo_title":144,"seo_description":67,"update_tm":145,"read_time":146,"preview_page_count":4},962084928904,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","Problems and Methods in Actuarial Science  \nAutumn 2022, UiO  \nFormalities  \n⦿ Classes: Tuesdays and Wednesdays 8:25-10:00 (5 min break)  \n⦿ Textbook: Erik Bølviken “Computation and Modelling in Insurance and Finance”, Cambridge University Press, 2014  \n⦿ Exam: December 19th at 15:00 (h) . Location: Silurveien 2 Sal 3B ⦿ Mandatory assignment: October 20th, 14:30 (will come back to it)  \n⦿ Website:  \n[https://www.uio.no/studier/emner/matnat/math/STK3505/h22/index.html](https://www.uio.no/studier/emner/matnat/math/STK3505/h22/index.html)  \n⦿ Presentations, solutions of exercises and other info will be published on the  \nwebsite regularly  \nClassified: General Business  \n⦿ The course will cover the material from the textbook, but will be presented in slightly different order and manner. Information on the material covered in each week on the website.  \n⦿ The lectures will extend/supplement the textbook with some basic notions about insurance and info about real life problems. Most of it will NOT be required on the exam. If something will be required, it will be clearly noted at the end of the course. UPDATE: SLIDES REQUIRED FOR THE EXAM ARE MARKED WITH A RED SQUARE IN RIGHT TOP CORNER  \nFormalities, continued  \nClassified: General Business  \nActuarial science  \nWhat it is?  \nClassified: General Business  \nActuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, pension, finance, investment and other industries and professions . More generally, actuaries apply rigorous mathematics to model matters of uncertainty.  \n[https://en.wikipedia.org/wiki/Actuarial_science](https://en.wikipedia.org/wiki/Actuarial_science)  \n5  \nActuarial science includes a number of interrelated subjects, including mathematics, probability theory, statistics, finance, economics, financial accounting and computer science .  \n[https://en.wikipedia.org/wiki/Actuarial_science](https://en.wikipedia.org/wiki/Actuarial_science)  \n6  \nHistorically, actuarial science used deterministic models in the construction of tables and premiums . The science has gone through revolutionary changes since the 1980s due to the proliferation of high speed computers and the union of stochastic actuarial models with modern financial theory.  \n[https://en.wikipedia.org/wiki/Actuarial_science](https://en.wikipedia.org/wiki/Actuarial_science)  \n7  \nWhat is differentiating actuarial science from mathematical finance is the focus on risk sharing and diversification in order to mitigate the adverse effect of events of uncertain occurrence, severity and timing.  \nClassified: General Business  \nStructure of the course  \n1. Introduction  \n2. Finance, Part 1:  \n⌾ Time value of money  \n4. Life insurance  \n⌾ Life-tables, discounting under mortality ⌾ Reserves and premium calculation  \n⌾ Monte Carlo,  \n⌾ Distributions and basic models for assets  \n3. Non-Life insurance:  \n⌾ Compound Poisson model and Monte Carlo ⌾ Premium calculation  \n⌾ A priori “reserves”  \n⌾ Reinsurance  \n⌾ How it works in practice  \nClassified: General Business  \n⌾ Markov chains in life-insurance  \n⌾ Monte Carlo simulation  \n⌾ Modern insurance products  \n5. Finance, Part 2:  \n⌾ Combining Investments and Insurance  \nresults- > ruin problem ⌾ Finding optimal investment portfolio ⌾ Options and Black-Scholes formula ⌾ Price of guaranteed returns in life insurance  \nproducts via options  \n9  \nInsurance  \nWhat is it and how does it work?  \nClassified: General Business","cbCaiirWdEzkyfFy","https://ap.wps.com/l/cbCaiirWdEzkyfFy","pdf",26447606,274,"English","# Formalities\n## Classes and schedule\n## Textbook, exam, and mandatory assignment\n## Website and update policy\n# Actuarial science overview\n## What it is\n## Historical development\n## Key differentiators\n# Structure of the course\n## Introduction\n## Finance, Part 1\n## Life insurance\n## Non-Life insurance\n## Finance, Part 2\n# Insurance\n## What it is and how it works","[{\"question\":\"What is “actuarial science” in the course notes?\",\"answer\":\"Actuarial science applies mathematical and statistical methods to assess risk in insurance, pensions, finance, and investment, modeling uncertainty rigorously for matters of uncertain occurrence, severity, and timing.\"},{\"question\":\"How is the course structured across the weeks?\",\"answer\":\"The course is organized into an introduction, Finance Part 1, Non-Life insurance, and Finance Part 2, including topics such as time value of money, life-tables and reserves, Monte Carlo simulation, and options-related results like ruin and Black-Scholes.\"},{\"question\":\"Which logistics and requirements are specified for the exam course?\",\"answer\":\"Classes run Tuesdays and Wednesdays 8:25–10:00, presentations and solutions are published on the course website, an exam is held December 19th at 15:00 at Silurveien 2 Sal 3B, and slides required for the exam are marked with a red square in the top-right corner.\"}]","Problems and Methods in Actuarial Science - Autumn 2022 - UiO | PDF",1790492355,690]