Credibility Theory - ACS 606

This course covers limited fluctuation (Classical) credibility, Bayesian analysis, Bühlmann and Bühlmann - Straub models and their relation to Bayesian model, conjugate priors in Bayesian analysis especially the Poisson-Gamma model, and empirical Bayesian methods in non-parametric and semi-parametric models. It also covers simulation of discrete and continuous random variables using the inversion method, estimation of the number of simulations needed to obtain an estimate with given confidence, and bootstrap method to estimate Mean Square Error (MSE) of an estimator. This course covers the remaining 40% of SOA exam C (Construction and Evaluation of Actuarial Models) and part of CT6 (Core Technical: Statistical Methods) exam of the Institute of Actuaries.