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.
