Part 2 of 2 courses covering the content of SOA Exam P/CAS Exam 1

What you'll learn

Prepare for Society of Actuaries (SOA) Exam P (Probability) [This is part 2 of 2 parts]

Understand key concepts concerning multivariate random variables (including the bivariate normal) and their applications.

Determine the distribution of a transformation of jointly distributed random variables

Determine the distribution of order statistics from a set of independent random variables

Requirements

Knowledge from Part 1 of this course is assumed

Description

Suitable for students looking for an in-depth understanding of concepts tested in SOA Exam P/ CAS Exam 1.All of the course objectives for SOA Exam P are covered in depth in this course.Also suitable for actuarial students and practitioners who are looking to brush up their understanding of Probability.Part 2 covers the following course objectives:Course Objective 4: Multivariate Random Variables & DistributionsCourse Objective 5: Advanced Probability TopicsSummary/Comprehensive: RevisionExam P is a pre-requisite for Exam FAM and Exam ASTAM/ALTAM and other upper level SOA exams.Please be sure to refer to the SOA and CAS websites for the most current details regarding the exams. About the InstructorI am very passionate about actuarial science and education, and have been actively involved in the actuarial education scene for many years. I have been tutoring students for SOA (Society of Actuaries) exams for 5 years, and have volunteered as the Education Chairperson for the Actuarial Society of Malaysia from 2018 to 2020.I have also lectured in a number of universities, including Inti International University & Colleges, Universiti Malaya and UCSI University. I am also currently an Industry Advisor at the Asia Pacific University (APU).I actively volunteer to speak to students about actuarial science, and do mentor students.

Overview

Section 1: Important Continuous Distributions

Lecture 1 Uniform & Exponential Distributions

Lecture 2 Normal & Lognormal Distributions

Lecture 3 Law of Averages & Central Limit Theorem

Lecture 4 Gamma & Beta Distributions

Lecture 5 Hazard Rate Function, Pareto Distribution, Weibull Distribution

Lecture 6 Tutorial - Important Continuous Distributions

Section 2: Multivariate Probability Distributions

Lecture 7 Discrete - Joint Distributions, Expectations & Conditional Distributions

Lecture 8 Independence, Covariance, Correlation

Lecture 9 Continuous - Joint Densities, Expectations

Lecture 10 Continuous - Conditional Distributions, Independence, Covariance

Lecture 11 Multinomial, Bivariate Normal & Moment Generating Functions

Lecture 12 Tutorial - Multivariate Distributions

Section 3: Advanced Probability Topics

Lecture 13 Transformations & Convolutions

Lecture 14 Order Statistics

Lecture 15 Covariance, Conditioning Formulas and Mixtures

Lecture 16 Tutorial - Advanced Topics

Section 4: Revision

Lecture 17 Revision Tutorial 1

Lecture 18 Revision Tutorial 2

Lecture 19 Revision Tutorial 3

Lecture 20 Revision Tutorial 4

Lecture 21 Revision Tutorial 5

Students preparing for Society of Actuaries (SOA) Exam P/ Casualty Actuarial Society (CAS) Exam 1