May 02, 2026  
2017-2018 Undergraduate Catalog 
    
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2017-2018 Undergraduate Catalog [NOTE!!!! THIS IS AN ARCHIVED CATALOG. FOR THE CURRENT CATALOG, GO TO CATALOG.NIU.EDU]

STAT 486 - Life Contingencies and Payment Models II

Premium calculations for life insurances and annuities via percentiles and the equivalence principle. Liability calculations for life insurances and annuities via the prospective, retrospective methods. Calculation of reserves for fully-discrete life insurances. Discuss the above for single and multiple-decrement models. Extend the present-value-of-benefit, present-value-of-loss-at-issue, present-value-of-future-loss random variables and liabilities to discrete-time Markov Chain models.

Prerequisites & Notes
PRQ: STAT 485 or consent of division.

Credits: 3