Actuarial Science applies mathematical and statistical methods to finance and insurance, particularly to risk assessment. Actuaries are professionals who are qualified in this field through examinations and experience.
Actuarial mathematics deals with the mathematics of uncertainty and risk. Some of the key areas where actuarial mathematics is principally applied are mortality studies, financial risk, risk and ruin theory, credibility, demography, reliability study and graduation of data. In this Actuarial Mathematics module the main terminology used by actuaries is defined and applied to a wide range of situations in order to price and reserve for certain risks and expected cashflows.
The links on the left hand side of this page will take you to the various topics that you will study in this course. Within each link you will find a worked example along with a link to a series of practice questions and worked solutions.