MASC 300 FINANCIAL MATHEMATICS I - 5 hrs (alt. yrs.)
This course provides an understanding of the fundamental concepts of financial mathematics and the application of those concepts. Specific applications include calculating present and accumulated values for various streams of cash flows as a basis for future use in reserving, valuation, pricing, asset/liability management, investment income, capital budgeting and valuing contingent cash flows. Prereq: MATH 180.

MASC 301 FINANCIAL MATHEMATICS II - 5 hrs (alt. yrs.)
The purpose of this course is to explore the properties of derivative security that are commonly encountered in practice and to provide a theoretical framework within which all derivatives can be valued and hedged. Prereq: MASC 300 and MATH 310.

MASC 400 ACTUARIAL MODELS I - 5 hrs (alt. yrs.)
This course begins to develop students’ knowledge of the theoretical basis of actuarial models and application of those models to insurance and other financial risk. Topics include claim frequency models, claim severity models, survival models, life tables, Markov chains, and the Poisson process. Prereq: MASC 300 and MATH 310.

MASC 401 ACTUARIAL MODELS II - 5 hrs (alt. yrs.)
This course continues to develop students’ knowledge of the theoretical basis of actuarial models and application of those models to insurance and other financial risk. Topics include life insurance models, life annuity models, benefit premiums, and benefit reserves. Prereq: MASC 400.

MASC 402 ACTUARIAL MODELS III - 5 hrs (alt. yrs.)
This course further develops students’ knowledge of the theoretical basis of actuarial models and application of those models to insurance and other financial risk. Topics include multiple-life models, multiple-decrement models, collection risk models, and insurance models including expenses. Prereq: MASC 401.

MASC 410 SURVIVAL ANALYSIS - 5 hrs*
The purpose of this course is to introduce the nature and properties of survival models, including both parametric and tabular models; methods of estimating tabular models from both complete and incomplete data samples, including the actuarial, moment, and maximum likelihood estimation techniques; methods of estimating parametric models from both complete and incomplete data samples, including parametric models with concomitant variables; and applications and extensions of survival models. Prereq: MASC 402.

MASC 411 CREDIBILITY AND LOSS DISTRIBUTIONS - 5 hrs*
Application of statistical theory to development and estimation of loss distributions; fitting distributions to truncated and grouped data; analysis of simulated data; classical, Bayesian, and Buhlmann credibility models for experience rating. Prereq: MATH 311.

MASC 430 PROBLEM SOLVING IN ACTUARIAL SCIENCE - 3 hrs
Through solving problems from previous years’ Actuarial Exams, students will be well-prepared for taking Examinations I (Mathematical Foundations of Actuarial Science) and II (Interest Theory, Economics, and Finance) administrated by the Society of Actuaries of North America. The course may be repeated, however no more than 6 hours of this course may count toward an actuarial science major. Prereq: A B or better in MATH 200 and MATH 220, or permission of instructor.

MASC 490 INTERNSHIP - 5-15 hrs

MASC 498 ACTUARIAL SCIENCE ASSESSMENT - 0 hrs
Students will complete an Actuarial Examination administrated by the Society of Actuaries during their senior year. Each student will meet with her/his academic advisor to discuss results in relation to career goals. Prereq: Senior standing.

* Indicates course offered as enrollment warrants.