3credit hoursPrerequisite: ACSI/MATH 4200/ACSI 5200/MATH 5200. A preparatory course for the Society of Actuaries Course 6. Topics include mathematical modeling of volatility; pricing of bonds, stocks, and other derivatives with uncertainty; benchmark portfolios; asset/liability management for property/casualty insurers; liability associated with a financially distressed company. Heath-Jarrow-Morton and Cox-Ingersoll-Ross models studied.