

Course ID:  RMIN 4200. 3 hours. 
Course Title:  Actuarial Probability Concepts 
Course Description:  Concepts and basic properties of general probability and
probability distributions, including independence, moment
generating functions, and transformations. 
Oasis Title:  Actuarial Probability Concepts 
Duplicate Credit:  Not open to students with credit in MATH 4600, STAT 4510 
Prerequisite:  (MATH 2250 or MATH 2250E) and MATH 2260 
Semester Course Offered:  Offered fall and spring semester every year. 
Grading System:  AF (Traditional) 

Course Objectives:  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 multistep problems. 
Topical Outline:  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 