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1999 - 2000 MINICALENDAR
 Faculty of Arts
 Faculty of Pure and Applied Science

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AS/SC/ MATH 3280 6.0

Actuarial Mathematics

      Actuarial mathematics at a level appropriate for examination 150 of the Society of Actuaries. Topics include survival distributions and life tables, premiums and reserves for life insurance and annuities, multiple life functions, multiple decrement models, valuation theory of pension plans.
      This course is intended for students contemplating careers in the actuarial profession. It will cover the material which is now listed under the topic of "contingent payment models" in the new actuarial examination syllabus. This topic (covered by Examination 150 in the old system) comprises about 40% of the exam on Actuarial Models, which is exam number 3 in the new system.
      The prerequisites are a sound knowledge of both interest theory and probability theory. For the probability prere- quisite, students should have completed MATH 2030 3.0. For interest theory the preferred prerequisite is MATH 2280 3.0. Those who have completed MATH 2580 6.0 with a grade of B+ or better may be allowed to enrol, but such students should note that MATH 3280 6.0 is considerably more advanced, and requires much more mathematical ability, than MATH 2580 6.0.
      Students will also be expected to acquire a knowledge of the Excel spreadsheet. Those who are not familiar with Excel should expect to put in some extra time in order to learn the basics.
      There will be an examination in December, covering the first term material, and an examination in April covering the second term material. In addition, there will be term tests (one or two each term) as well as written assignments. The exact grading scheme will be announced during the first week of classes.
      The text will be N.L. Bowers et al., Actuarial Mathematics (2nd Ed.), Society of Actuaries, l997. Students will also be required to purchase a set of notes, distributed as a Course Kit, and available through the bookstore.

Prerequisite:AS/SC/MATH 2280 3.0; AS/SC/AK/MATH 2030 3.0.

Coordinator: S.D. Promislow.

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