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**BASIC INFORMATION:**

- STAT 470-0101
- Course Title: Actuarial Mathematics
- Instructor: Prof. Harland Glaz
- Instructor Info: MTH 4405 ; 301.405.5470
- Instructor Email: hmg AT math DOT umd DOT edu
- Classroom/Time: TuTh 2:00-3:15 ; MTH B0421

Download from our ELMS/Canvas Course page:

**TEXTBOOK (required):**
ACTUARIAL MATHEMATICS FOR LIFE CONTINGENT RISKS

David C. M. Dickson, Mary R. Hardy, and Howard R. Waters, 2013, ** 2nd edition **

**Cambridge University Press web site description**

THEORY OF INTEREST and LIFE CONTINGENCIES with PENSION APPLICATIONS:

A PROBLEM-SOLVING APPROACH, 3rd edition, Michael M. Parmenter,

ACTEX Publications, 1999, ISBN 978-156698-333-9.

THEORY OF INTEREST AND LIFE CONTINGENCIES WITH PENSION APPLICATIONS:

A PROBLEM-SOLVING APPROACH SOLUTIONS MANUAL,

3rd Edition, Richard L. London, ACTEX Publications, xxx, ISBN 978-156698-348-8.

LIFE INSURANCE MATHEMATICS, 3rd edition, Hans U. Gerber

FUNDAMENTALS OF ACTUARIAL MATHEMATICS, 2nd edition, S. David Promislow

where, for example, you can find sample questions/answers to prepare for the sequence of preliminary examinations.

The exams closest to STAT 470 in content are EXAM FM and EXAM MLC (or EXAM LC for the CAS exams);

click on 'Actuarial Exams' for detailed information. The content of Exam C (SOA) overlaps with the textbook Appendix.

See also

In particular,

a few topics will be omitted and announced in due course.

Chapters 1 -- 5 of Dickson et al correspond (roughly).

Below,

- Theory of Interest. Discount. Internal Rate of Return (IRR).
- Life Table Statistics. Brief Intro./Review of Probability, esp.
- Conditional Probability, Expectation, and Conditional Expectation
- Annuities/Actuarial Notation. Mortgages, Bonds.
- Force of Mortality. Model Survival Functions. Gompertz-Makeham
- Binomial RV's and Law of Large Numbers. Relation between life-
- tables and survival functions. More on E(g(T)) and E(g([T]);
- Expectation (and Curtate Expectation) of Life
- Interpolation between integer ages.
- Chapter 4: Life Annuity, Insurance Contracts. Detailed Analysis
- Net Level Premiums. Reserves. (*) Policy Value Calculations.

- (*) Multiple Decrement and Multiple Life Policies
- (*) Applications to Pensions ; Pension Mathematics
- Textbook, Appendix A: Duration Data Structures and Cohort Life Tables

- The ELMS/CANVAS site will contain this syllabus, the textbook, HW assignments (and solutions),

Midterm Exams (and solutions); also, any other reading or similar material will be posted there. - The class EMAIL REFLECTOR will be used frequently; it is an IMPORTANT responsibility

for each student to insure that the e-mail address listed on Testudo

(from which the reflector is constructed) is updated to one that you read daily.

- MATLAB will be used; code templates will be provided
- EXCEL output will not be accepted or graded
- R, MATHEMATICA can be used in lieu of MATLAB, provided source code is included

- Homework and Quizzes - 20%
- Three (in-class) MIDTERM EXAMS - 40%
- Take-home MIDTERM EXAM (near the end of the semester) - 15%
- FINAL EXAM - 25%

- Midterm #1 - Thursday, February 26
- Midterm #2 - Thursday, April 02
- -------------------------------
- Takehome Midterm Exam - TBA
- -------------------------------
- Midterm #3 - Tuesday, TBA
- ------------------------------
- LAST CLASS - Tuesday, May 12
- FINAL EXAM - Monday, May 18 ; 10:30 -- 12:30

TESTBANK (the Math Department's online archive of past exams)

- HW papers are to be written by you, in your in own words
and using your own calculations.

However, you MAY discuss the problems in small groups. - No discussion/collaboration, of any kind, with anyone (except me) is allowed on the Take-Home Midterm Exam.

Home page of Harland Glaz