STAT 490: Life Contingencies II
Meets: Tuesday and Thursday from 9:30 to 10:20 in REC 114
Instructor: Jeff Beckley
Office: 818 Mathematics Building 317-698-8543
E-mail:
Web http://www.math.purdue.edu/~jbeckley/
Office Hours:
Tuesday 1:00 to 3:00
Thursday 12:30 to 1:30
or by appointment
General Information
The course will cover part of the learning objectives for the Society of Actuaries Examination MLC. It will also act as a prep class for MLC.
Textbook: Actuarial Mathematics for Life Contingent Risks, Second Edition
David C. M. Dickson, Mary R. Hardy, Howard R. Waters
Calculators
The only calculators permitted for this class will be those permitted to be used on the Society of Actuaries examinations in the Spring of 2017. The Society of Actuaries website states: “Candidates may ONLY use the battery or solar–powered Texas Instruments BA–35 model calculator, the BA II Plus*, the BA II Plus Professional*, the TI–30Xa or TI–30X II* (IIS solar or IIB battery), or TI-30XB MultiView (XS Solar or XB Battery). Candidates may use more than one of the approved calculators during an examination.” Use of any other calculator on a test or quiz will result in a zero on that test or quiz.
The class website has instructions from the Society of Actuaries website for either calculator that you choose.
Please bring your calculator to each class.
Procedures
Evaluation will be based on a combination of tests, quizzes, and homework assignments.
There will be 3 quizzes during the semester. Quizzes will be announced.
There will be 2 tests and a final. The final WILL BE comprehensive.
All tests and quizzes will be closed book and closed notes. Calculators are allowed. Quizzes cannot be made up under any circumstances. There will be no makeup exams except in extreme circumstances and then only with a prior arrangement with the instructor.
Final grades will be based on the following weights:
Quizzes / 15%Homework / 10%
Test 1 / 25%
Test 2 / 25%
Final / 25%
Total / 100%
Homework: Homework will be assigned and due on Tuesday. I will not collect this homework. However, most Tuesdays, you will spend the first five minutes of class working one the homework questions selected at random. It will be identical to the homework question assigned except for different numbers. This question will be collected and graded. Over the semester, there will be 10 of these problems with each one being worth one point. No homework will be accepted past the five minute point and no homework scores will be dropped. Each student may not get the same question. These homework questions will be open book and open notes. However, you may not use a copy of the homework that you worked prior to class.
For homework, quizzes, and tests, answers are expected to include all the work necessary to do the problems.
Grades
Grades will be on a plus/minus scale as follows:
Score / Grade99.5% and above / A+
94-99.4 / A
90-93.9 / A-
87-89.9 / B+
83-86.9 / B
80-82.9 / B-
77-79.9 / C+
73-76.9 / C
70-72.9 / C-
67-69.9 / D+
63-66.9 / D
60-62.9 / D-
59.9 and below / F
Cheating
• Cheating will not be tolerated!
• If you cheat on HW or Quiz, penalty is a zero on the homework or Quiz and 5% of the total score for the class. You will not be allowed to drop the HW or Quiz.
• If you cheat on a Test, you will receive a failing grade in this class.
Academic Adjustments
Students who have been certified by the Office of the Dean of Students -- Adaptive Programs as eligible for academic adjustments should see me to discuss the procedures to be followed. This should be done during the first week of classes. Only students who have been certified by the ODOS-Adaptive Programs and who have requested ODOS to send their certification letters to their instructors are eligible for academic adjustments.
Students who are currently undergoing an evaluation process to determine whether they are eligible for academic adjustments, are encouraged to talk to me regarding procedures to be followed.
Course Outline
April 13, 2017
While this outline tries to be complete and accurate, there will be changes in the schedule of the course; these will be announced in class and on the class website. The material listed is the sections of the book that we will cover in class.
The Homework for the class will consist of the problems that will be posted on the class website. This syllabus will be updated with the Homework assignment after each class. Homework will not be collected.
Day / Date / Material / Class HomeworkTu / 1/10 / Chapter 8 – Multiple Decrement Models
Th / 1/12 / Chapter 8 – Multiple Decrement Models
Tu / 1/17 / Chapter 8 – Multiple Decrement Models / Chapter 8, Questions 1-4
Th / 1/19 / Chapter 8 – Multiple Decrement Models
Tu / 1/24 / Chapter 9 – Joint Life Functions / Chapter 8, Questions 5-11
Th / 1/26 / Chapter 9 – Joint Life Functions; QUIZ
Tu / 1/31 / Chapter 9 – Joint Life Functions / Chapter 9, Questions 1, a,b,g-i, 5
Th / 2/2 / Chapter 9 – Joint Life Functions
Tu / 2/7 / Chapter 10 – Pensions / Chapter 9, Questions 1,c-f,j-n, 2-4, 6-13
Th / 2/9 / Chapter 10 – Pensions
Tu / 2/14 / Chapter 10 – Pensions / Chapter 10, Questions 1-5
Th / 2/16 / Chapter 10 – Pensions
Tu / 2/21 / Test 1 / Chapter 10, Questions 6-9
Th / 2/23 / Chapter 11 – Diversification
Tu / 2/28 / Chapter 11 – Forward Interest Rates
Th / 3/2 / Chapter 12
Tu / 3/7 / Chapter 12; QUIZ / Chapter 11, Questions 1-3, 5, 6, 8
Th / 3/9 / Chapter 12
Tu / 3/14 / Spring Break
Th / 3/16 / Spring Break
Tu / 3/21 / Chapter 13 / Chapter 12, Questions 1-4
Th / 3/23 / Test 2
Tu / 3/28 / Chapter 13
Th / 3/30 / Chapter 13
Tu / 4/4 / Special Topics / Chapter 13, Question 1
Th / 4/6 / Special Topics
Tu / 4/11 / Review; QUIZ / Chapter 13, Questions 2-6
Th / 4/13 / Review
Tu / 4/18 / Review / Theile Questions
Th / 4/20 / Final
Tu / 4/25 / No Class - MLC EXAM
Th / 4/27 / No Class