Stat490: Actuarial Models
Fall 2012
Meets: Section 1Tuesday and Thursday from 10:30 to 11:45 in REC 307
Wednesday from 10:30 to 11:20 in UNIV 101
Section 2Tuesday and Thursday from 12:00 to 1:15 in REC 123
Wednesday from 12:30 to 1:20 in UNIV 103
Instructor: Jeff Beckley
Office: 818MathematicsBuilding317-698-8543
E-mail:
Web
Office Hours:
Wednesday1:30 to 3:00
Tuesday and Thursday 2:00 to 3:00
or by appointment
General Information
The course will cover the learning objectives for the Society of Actuaries Examination MLC.
Textbook:Actuarial Mathematics for Life Contingent Risks
David C. M. Dickson, Mary R. Hardy, Howard R. Waters
Additional Material:Supplementary Notes for Actuarial Mathematics for Life Contingent Risks
Available as PDF on Class Website
Calculators
The only calculators permitted for this class will be those permitted to be used on the Society of Actuaries examinations in the Fall of 2012. 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, class project and homework
assignments.
There will be 8 quizzes during the semester. Quizzes will be announced. The lowest quiz grade will be disregarded.
There will be a class project to be completed in Excel.
There will be 2 tests and a final. The final will NOT 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 / 14%Homework / 6%
Project / 5%
Test 1 / 25%
Test 2 / 25%
Final / 25%
Total / 100%
Homework:Homework is due at the beginning of class. Doing the homework is essential to understanding the material. No homework will be accepted past the due date, but your lowest two homework scores will be dropped.
For homework, quizzes, and tests, answers are expected to include all the work necessary to do the problems.
You can earn two bonus points by bringing your tables and calculator to class every day.
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!
•Copying someone else’s HW is Cheating! Giving your homework to someone else who copies it is cheating.
•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 the project you will receive zero on the project and lose 10% of the total score for this class. If you share your spreadsheet with another class member, that is cheating.
•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 aseligible 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
December 4, 2012
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 reading is to be done by the date listed and the homework is to be turned in on the date listed. For example, prior to class on August 21, you are to read Chapter 1 in the book. You will turn in the Homework listed on the 23th on the 23th.
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 be due on Tuesday and Thursday.
Day / Date / Reading / Class HomeworkTu / 8/21 / Chapter 1
Wed / 8/22 / Chapter 2
Th / 8/23 / Chapter 2
Tu / 8/28 / Chapter 2 / 1. a-s, 2, 4 a-d, g-o, v-w, 5
Wed / 8/29 / Chapter 2
Th / 8/30 / Chapter 3 / 1. t-w, 3. d-e, 4. e,f,p,q,r,s,t, 6, 7
Tu / 9/4 / Chapter 3 / 1. x,y, 3 except for d&e,4 u,8-10
Wed / 9/5 / Chapter 3
Th / 9/6 / Chapter 3 / 11-15
Tu / 9/11 / No Class
Wed / 9/12 / Chapter 4
Th / 9/13 / Chapter 4 / 16-25
Tu / 9/18 / Chapter 4 / 25.5, 26. a,f
Wed / 9/19 / Chapter 4
Th / 9/20 / Chapter 4 / 26. g-h, 27 a., f., 29-30
Tu / 9/25 / Chapter 4
Wed / 9/26 / Chapter 5
Th / 9/27 / TEST / 27 b-e, g, h, 28, 31-34
Tu / 10/2 / Chapter 5
Wed / 10/3 / Chapter 5
Th / 10/4 / Chapter 5 / 35-49
Tu / 10/9 / BREAK
Wed / 10/10 / Chapter 5
Th / 10/11 / Chapter 5 / 50 a-d,f,h-i, 51 a,b,d,e,i,l,m, 54, 59, 63, 64
Tu / 10/16 / Chapter 6 / 50 e,g,j,k, 51 c,f,g,h, 52, 53, 55-58, 60, 62
Wed / 10/17 / Chapter 6
Th / 10/18 / Chapter 6 / 51 j, 51 k, 61
Tu / 10/23 / Chapter 6 / 65-67
Wed / 10/24 / Chapter 6
Th / 10/25 / Chapter 6 / 68-71, 73
Tu / 10/30 / TEST / 74-77, 79-80
Wed / 10/31 / Chapter 7
Th / 11/1 / Chapter 7 / 72,78,81 a,b, 82
Tu / 11/6 / Chapter 7 / 84 a-f, 85-92, 95, 96
Wed / 11/7 / Chapter 7
Th / 11/8 / Chapter 8 / 94, 97-100, 103-106
Day / Date / Reading
Tu / 11/13 / Chapter 8 / 84 g-i, 93,101, 102, 107-111
Wed / 11/14 / Chapter 8
Th / 11/15 / Chapter 8 / 112-113, 117-120
Tu / 11/20 / Chapter 8 / 114-116, 123-125
Wed / 11/21 / BREAK
Th / 11/22 / BREAK
Tu / 11/27 / Chapter 8 / 121, 122, 126, 127
Wed / 11/28 / Chapter 10
Th / 11/29 / Chapter 10 / 128-134
Tu / 12/4 / Chapter 11 / 135-146 (Will not be collected)
Wed / 12/5 / Universal Life
Th / 12/6 / Universal Life / 147 (Will not be collected)
Finals / Final Exam