[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-0-en-105":3,"doc-seo-398914-105":59,"doc-detail-398914-en":130},{"code":4,"msg":5,"data":6},0,"success",[7,13,18,23,28,33,38,43,48,51,55],{"id":8,"doc_module":4,"doc_module_name":9,"category_name":10,"show_sort_weight":11,"slug":12},1,"Document","Story & Novel",90,"story-novel",{"id":14,"doc_module":4,"doc_module_name":9,"category_name":15,"show_sort_weight":16,"slug":17},2,"Literature",80,"literature",{"id":19,"doc_module":4,"doc_module_name":9,"category_name":20,"show_sort_weight":21,"slug":22},4,"Exam",70,"exam",{"id":24,"doc_module":4,"doc_module_name":9,"category_name":25,"show_sort_weight":26,"slug":27},5,"Comic",60,"comic",{"id":29,"doc_module":4,"doc_module_name":9,"category_name":30,"show_sort_weight":31,"slug":32},6,"Technology",50,"technology",{"id":34,"doc_module":4,"doc_module_name":9,"category_name":35,"show_sort_weight":36,"slug":37},7,"Healthcare",40,"healthcare",{"id":39,"doc_module":4,"doc_module_name":9,"category_name":40,"show_sort_weight":41,"slug":42},8,"Research & Report",30,"research-report",{"id":44,"doc_module":4,"doc_module_name":9,"category_name":45,"show_sort_weight":46,"slug":47},9,"Religion & Spirituality",20,"religion-spirituality",{"id":46,"doc_module":4,"doc_module_name":9,"category_name":49,"show_sort_weight":46,"slug":50},"World Cup","world-cup",{"id":52,"doc_module":4,"doc_module_name":9,"category_name":53,"show_sort_weight":52,"slug":54},10,"Lifestyle","lifestyle",{"id":56,"doc_module":4,"doc_module_name":9,"category_name":57,"show_sort_weight":24,"slug":58},19,"General","general",{"code":4,"msg":60,"data":61},"ok",{"site_id":62,"language":63,"slug":64,"title":65,"keywords":66,"description":67,"schema_data":68,"social_meta":123,"head_meta":125,"extra_data":127,"updated_unix":129},105,"en","stat311-risk-theory-and-loss-models-course-outline","STAT311 Risk Theory and Loss Models - Course Outline","","STAT311 Risk Theory and Loss Models introduces nonlife actuarial models for students in the Actuarial Science Second Major. The syllabus covers loss models, credibility theory, maximum likelihood estimation, model diagnostics and selection, and practical loss reserving and ratemaking. Learning objectives include probability models for loss frequency and severity, the impact of deductibles, policy limits, and coinsurance, and aggregate versus collective risk modeling. Assessment combines class participation, assignments, a mid-term test, and a final exam with formula sheets.",{"@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/stat311-risk-theory-and-loss-models-course-outline/398914/",{"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/stat311-risk-theory-and-loss-models-course-outline/398914.png","ImageObject",300,407,{"name":92,"@type":93},"8796093062539","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-11-06","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 topics does STAT311 cover?","Question",{"text":112,"@type":113},"The course covers loss models, credibility theory, maximum likelihood estimation, model diagnostics and selection, and loss reserving and ratemaking.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"What are the learning objectives in the course?",{"text":117,"@type":113},"Students study probability models for loss data, statistical analysis using maximum likelihood estimation, classical/Bühlmann/Bayesian credibility theory, and methods for loss reserving and ratemaking.",{"name":119,"@type":110,"acceptedAnswer":120},"How is student performance assessed?",{"text":121,"@type":113},"Assessment includes class participation and classwork (10%), assignments (20%), a mid-term test (20%, 1.5 hours with formula sheets), and a final examination (50%, 2 hours with formula sheets).","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},398914,1790672197,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":66,"doc_module":4,"category_id":19,"category_name":20,"doc_title":65,"doc_description":67,"doc_content":133,"file_id":134,"file_url":135,"file_type":136,"file_size":137,"view_count":44,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":14,"language":138,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":139,"faqs":140,"seo_title":141,"seo_description":67,"update_tm":142,"read_time":24,"preview_page_count":4},8796093062539,"SMU Classification: Restricted  \nSchool of Economics  \nAcademic Year 2025-26 Term 1  \nSTAT311 RISK THEORY AND LOSS MODELS  \nInstructor Name : Asst. Prof. Jing Rong GOH (Practice)  \nEmail : [j](jrgoh@smu.edu.sg)[rgoh@smu.edu.sg](jrgoh@smu.edu.sg)  \n[Office : SOE 5015.4](Office : SOE 5015.4)  \n[Tel :](Tel :) +65 68264850  \n1. Course Description  \nThis course providesan introductionto nonlifeactuarial models, covering loss models,credibility theory, maximum likelihood estimation method, model diagnostics and selection, and loss reserving and rate making. It is a compulsory course for the Second Major in Actuarial Science. The pre-requisites for this course are STAT201 and DSA201 .  \nThis course prepares students to take the exam Fundamentals of Actuarial Mathematics (FAM) and Advanced Short-Term Actuarial Mathematics (ASTAM) of the Society of Actuaries.  \n2. Learning Objectives  \n1) Probability models of loss data  \n1. 1) Introduction to loss models  \n1.2) Distribution of claim frequency and claim severity  \n1.3) Effects of policy modification: deductible, policy limits and coinsurance  \n1.4) Aggregate loss distribution, collective risk and individual risk models  \n2) Statistical analysis of loss data  \n2. 1) Types of data  \n2.2) Maximum likelihood estimation method  \n2.3) Model diagnostics and selection  \n3) Credibility theory  \n3. 1) Classical credibility theory  \n3.2) Buhlmann credibility theory  \n3.3) Bayesian credibility theory  \n4) Loss reserving and ratemaking  \n4. 1) Loss reserving  \n4.2) Ratemaking  \n3. Pre-requisite/Co-requisite/Mutually Exclusive Course(s)  \nPlease use the class search function at OASIS > Study > BOSS > BOSS Bidding (Plan & Bid page > Add to Cart and Perform Course Search) or the course catalogue in OASIS to check the most up-dated attributes of this course.  \n4. Assessment Methods  \nClass participation (including attendance) and classwork (10%) Assignments (20%) (Individual Assignments)  \nMid-term test (20%): (1 .5 hrs with formula sheets)  \nFinal examination (50%): (2 hrs with formula sheets)  \nSMU Classification: Restricted  \n5. Course Assessment Details  \nStudents will be assessed based on their class participation, assignments/group project , midterm test and final examination.  \n6. Recommended Text and Readings  \nTse, Yiu-Kuen, Nonlife Actuarial Models: Theory, Methods and Evaluation, 2009, Cambridge University Press.  \nSUPPLEMENTARY REFERENCE  \nKlugman, S.A. , H. H. Panjer and G. E. Willmot, Loss Models: From Data to Decision, 2012, 4thed, John Wiley.  \n7. University Policies  \nAcademic Integrity  \nAll acts of academic dishonesty (including, but not limited to, plagiarism, cheating, fabrication, facilitation of acts of academic dishonesty by others, unauthorized possession of exam questions, or tampering with the academic work of other students) are serious offences.  \nAll work (whether oral or written) submitted for purposes of assessment must be the student’s own work. Penalties for violation of the policy range from zero marks for the component assessment to expulsion, depending on the nature of the offense.  \nWhen in doubt, students should consult the instructors of the course. Details on the SMU Code of Academic Integrity may be accessed at [https://smu.sharepoint.com/sites/oasis/SitePages/DOS-WKLSWC/UCSC.aspx](https://smu.sharepoint.com/sites/oasis/SitePages/DOS-WKLSWC/UCSC.aspx).  \nCopyright Notice  \nPlease note that all course materials are meant for personal use only, namely, for the purposes of teaching, studying and research. You are strictly not permitted to make copies of or print additional copies or distribute such copies of the course materials or any parts thereof, for commercial gain or exchange.  \nFor the full copyright notice, please visit [https://researchguides.smu.edu.sg/copyright](https://researchguides.smu.edu.sg/copyright)  .  \nAccessibility  \nSMU strives to make learning experiences accessible for all. If students anticipate or experience physical or academic barriers ","cbCaii6CzCCr5UV7","https://ap.wps.com/l/cbCaii6CzCCr5UV7","pdf",169363,"English","# Course Description\n# Learning Objectives\n# Pre-requisite/Co-requisite\n# Assessment Methods\n# Course Assessment Details\n# Recommended Text and Readings\n# University Policies","[{\"question\":\"What topics does STAT311 cover?\",\"answer\":\"The course covers loss models, credibility theory, maximum likelihood estimation, model diagnostics and selection, and loss reserving and ratemaking.\"},{\"question\":\"What are the learning objectives in the course?\",\"answer\":\"Students study probability models for loss data, statistical analysis using maximum likelihood estimation, classical/Bühlmann/Bayesian credibility theory, and methods for loss reserving and ratemaking.\"},{\"question\":\"How is student performance assessed?\",\"answer\":\"Assessment includes class participation and classwork (10%), assignments (20%), a mid-term test (20%, 1.5 hours with formula sheets), and a final examination (50%, 2 hours with formula sheets).\"}]","STAT311 Risk Theory and Loss Models - Course Outline | PDF",1790490020]