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.