This course is designed to provide a solid foundation in 
probability theory and its application in a risk management 
context. Students will learn general probability rules and how 
to use specific discrete, continuous, and mixed probability 
distributions in applied business scenarios. By the end of the 
course, students will be able to apply a wide variety of 
probability distributions, both univariate and multivariate, and 
will be prepared to take the actuarial exam P which focuses on 
probability. In addition, they will be able to provide written 
explanations of the ideas behind probability and probability 
distributions and will have improved their skills at solving 
complex and multi-step problems.

Set functions
Laws of probability
Conditional probability and Bayes' theorem
Univariate distributions
Bivariate and multivariate distributions
Distribution of functions of random variables
Moment generating functions
Central limit theorems
Transformations