Mission, objectives and learning outcomes
The Executive MA in Actuarial Science aims to promote a culture of need and appreciation for the Actuarial Sciences in Lebanon and the region. It aims as well to disseminate the importance of professional certification in the field and in the insurance industry.
The objectivs of the Executive MA in Actuarial Studies program are:
- To allow experienced professionals in Lebanon and the Middle East to upgrade their insurance knowledge;
- To assist those professionals in earning professional certification;
- To provide a solid academic foundation for its constituencies to become successful actuaries;
- To offer a structured assistance for those professionals or students wishing to take the international exams of the Society of Actuaries, the Causality Actuarial Society, or others.
The Executive MA in Actuarial Science program will enable the graduates to:
- Demonstrate an understanding of the fundamental probability tools for quantitatively assessing risk and an ability to apply these tools to various insurance problems.
- Demonstrate an understanding of quantitative concepts and basics of financial analysis from accounting to capital budgeting applicable to insurance companies.
- Demonstrate an understanding of the theoretical basis of certain actuarial models and life contingent models and an ability to apply those models to insurance and other financial risks.
- Demonstrate an understanding of frequency and severity models and an ability to carry out the steps involved in the modeling process in solving business problems.
- Analyze data from an application in a business context, determine a suitable model including parameter values, and provide measures of confidence for decisions based upon the model.
- Establish rapport in groups, be adaptable to new circumstances, be able to work both independently and in collaboration with others, and be able to function effectively as leaders.
- Demonstrate highest standards of ethical conduct and professional behavior, critical, interpersonal and communication skills as well as a commitment to life-long learning.