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Center of Actuarial Excellence Actuarial Science at Illinois State University
Our faculty are engaged in cutting edge research, funded by various external agencies, and published in books and top-level journals.

Register for Prep Classes

Registration for these seminars is always open, you can register any time. There are two ways to register:

ONLINE

Registration for customers who are not students at Illinois State University

(or just go to http://smarturl.it/BTDT)

or

Registration for Illinois State University students (or just go to http://smarturl.it/ISU)

TELEPHONE:

309-438-2160 or 800-877-1478 (toll-free in the United States), or call Ms. Christy Knobeloch directly at 309-438-3852

Seminars fees are non-refundable. Please think carefully before you make a payment. If you have questions before registration, please send them to: actuary@IllinoisState..edu.

Support for participation in these seminars may be available from Illinois Workforce Development System.

Actuarial Examinations Online Review Seminars

Illinois State University Actuarial Program, a Center of Actuarial Excellence, presents intensive online review seminars preparing for:
• Actuarial Examination SOA P/ CAS 1
• Actuarial Examination SOA FM/ CAS 2
• Actuarial Examination SOA MLC
• Actuarial Examination SOA MFE/3F
with Dr. Krzysztof Ostaszewski, FSA, CERA, FSAS, CFA, MAAA.

Society of Actuaries Course P / Casualty Actuarial Society Course 1 Examination Preparation Seminar

The seminar is offered continuously, online only. Registration is good for one year. Candidates who pay for the seminar and pass the exam within 90 days will receive $100 back (this $100 refund does not apply to Illinois State University students, who may receive a scholarship to take the seminar at no charge). The seminar covers the material on the Course P/1 examination on probability. All of the material on the examination is thoroughly explained and illustrated with a variety of practice problems. Participants are asked to purchase the ASM manual for Course P/1, which will be used as the seminar textbook. This textbook will not be required, but candidates without it will not be able to fully benefit from the seminar. The textbook can be purchased at Actex Publications or Actuarial Bookstore. Online resources for the seminar include practice problems and exams. The basic study plan for this seminar is for six weeks, but candidates can study at their own pace. Candidates for this seminar are expected to have the background of three semesters of calculus, and should also, preferably, have a semester of linear algebra.

Society of Actuaries Course FM / Casualty Actuarial Society Course 2 Examination Preparation Seminar

The seminar is offered continuously, online only. Registration is good for one year. Candidates who pay for the seminar and pass the exam within 90 days will receive $100 back (this $100 refund does not apply to Illinois State University students, who may receive a scholarship to take the seminar at no charge). This seminar covers the material on the Course FM/2 examination on financial mathematics. All of the material on the examination is thoroughly explained and illustrated with a variety of practice problems. Participants are asked to purchase the study manual for Course FM written by Dr. Krzysztof Ostaszewski, available from Actex Publications or Actuarial Bookstore, which will be used as the seminar textbook. This textbook will not be required, but candidates without it will not be able to fully benefit from the seminar. Online resources for the seminar include practice problems and exams. The basic study plan for this seminar is for six weeks, but candidates can study at their own pace. Candidates for this seminar are expected to have the background of two semesters of calculus.

Society of Actuaries Course MLC Examination Preparation Seminar

The seminar is offered continuously, online only. Registration is good for one year. Candidates who pay the fulll price for the seminar and pass the exam within 180 days will receive $100 back (this $100 refund does not apply to Illinois State University students, who may receive a scholarship to take the seminar at no charge). All of the material on the Course MLC examination is presented in video lectures and illustrated with a variety of practice problems, and practice exams. Participants are asked to purchase the study manual for Course MLC written by Dr. Krzysztof Ostaszewski, available from Actex Publications or Actuarial Bookstore, which will be used as the seminar textbook. This textbook will not be required, but candidates without it will not be able to fully benefit from the seminar. The basic study plan is written for ten weeks, but candidates can study at their own pace. Candidates for this seminar are expected to have the background of Course P/1 and Course FM/2 actuarial examinations.

Society of Actuaries Course MFE / Casualty Actuarial Society Course 3F Examination Preparation Seminar

The seminar is offered continuously, online only. All of the material on the Course MFE/3F examination is presented and illustrated with a variety of practice problems and practice exams. Video lectures, study notes, exercises and practice exams are provided. Candidates for this seminar are expected to have the background of Course P/1 and Course FM/2 actuarial examinations,

 

About the instructor

Dr. Krzysztof Ostaszewski is a Fellow of the Society of Actuaries, Chartered Enterprise Risk Analyst, Fellow of the Singapore Actuarial Society, Member of the American Academy of Actuaries and a Chartered Financial Analyst. He holds a Ph.D. in Mathematics from the University of Washington. He is the Actuarial Program Director and Professor of Mathematics at Illinois State University, a Center of Actuarial Excellence. He is also the Reearch Director for Life Insurance and Pensions at the Geneva Association, the International Association for the Study of Risk and Insurance Economics. In the period 2006-2011 Dr. Ostaszewski was a consultant for the Polish Financial Supervision Authority. He has taught actuarial science at Illinois State University, Washington University in St. Louis, University of Ulm in Germany, Warsaw School of Economics and Lodz University of Technology in Poland, New England Actuarial Seminars, Actex, University of Louisville, and the Actuarial Summer School in Poland. He was a core instructor for the Society of Actuaries Course 7 Applied Modeling Seminar. For a full biography of Dr. Ostaszewski, go to http://math.illinoisstate.edu/krzysio/krzys.html.

 

Cost

Course P/1 seminar: $395 for one year (participants who pay this fee and pass the exam within 90 days get $100 back)

• Candidates can use this online registration form, or call Ms. Christy Knobeloch directly at 309-438-3852, or toll-free at 800-877-1478.

• Illinois State University students are eligible for a scholarship covering the entire fee for the seminar, and apply for it by using the special online registration form for them. Illinois State University students are not eligible for the $100 "pass within 90 days" incentive, but are eligible for a reimbursement of the cost of the manual used in the seminar by the Actuarial Program when they pass Course P/1 examination.

Course FM/2 seminar: $395 for one year (participants who pay this fee and pass the exam within 90 days get $100 back)

• Candidates can use this online registration form, or call Ms. Christy Knobeloch directly at 309-438-3852, or toll-free at 800-877-1478.

• Illinois State University students are eligible for a scholarship covering the entire fee for the seminar, and apply for it by using the special online registration form for them. Illinois State University students are not eligible for the $100 "pass within 90 days" incentive, but are eligible for a reimbursement of the cost of the manual used in the seminar by the Actuarial Program when they pass Course FM/2 examination.

Course MLC seminar: $455 for one year (participants who pay this fee and pass the exam within 180 days get $100 back)

• Candidates can use this online registration form, or call Ms. Christy Knobeloch directly at 309-438-3852, or toll-free at 800-877-1478.

• Illinois State University students are eligible for a scholarship covering the entire fee for the seminar and apply for it by using the special online registration form for them. Illinois State University students are not eligible for the $100 "pass within 180 days" incentive, but are eligible for a reimbursement of the cost of the manual used in the seminar by the Actuarial Program when they pass Course MLC examination.

Course MFE/3F seminar: $500 (participants who pay this fee and pass the exam within 180 days get $100 back)

• Candidates can use this online registration form, or call Ms. Christy Knobeloch directly at 309-438-3852, or toll-free at 800-877-1478.

• Illinois State University students are eligible for a scholarship covering the entire fee for the seminar and apply for it by using the special online registration form for them. Illinois State University students are not eligible for the $100 "pass within 180 days" incentive.

Unemployed alumni of Illinois State University have the same rights as current Illinois State University students for fees waivers in all of the above registrations, but not for subsequent reimbursements. Employed alumni of Illinois State University are eligible for a 10% discount but only if they must first inquire by sending an e-mail to: actuary@illinoisstate.edu. The $100 rebate for passing within a prescribed amount of time is available to alumni who receive this discount.

Disclaimer about the $100 refund: If delivering the $100 refund to the seminar participant cannot be accomplished by sending a check drawn on a U.S. bank, or a refund to a credit card, the seminar participant will need to cover any additional costs of the refund (.e.g., internatiuonal wire transfer, international check, etc.), and the effective amount of the refund may be reduced. Please make it possible for us to send the money to you, as if you do not, we may not be able to process your refund. Also, if a seminar participant registered for this seminar through a third party or the payment for the seminar is for some reason delayed, we cannot process a refund until we receive the payment for such participant.

Registration

There are two ways to register for the Actuarial Examinations Intensive Review Seminars:

ONLINE

Registration for customers who are not students at Illinois State University or just go to http://smarturl.it/BTDT

Registration for Illinois State University students or just go to http://smarturl.it/ISU

TELEPHONE:

309-438-2160 or 800-877-1478 (this number is toll-free in the United States), or call Ms. Christy Knobeloch directly at 309-438-3852

You will receive confirmation of your registration and information on access to the seminar as soon as possible. If you are registering on Friday after 3:00 P.M. (U.S. Central Time), you will not be contacted or receive any further information until Monday due to our offices being closed for the weekend. Access to these online seminars requires creation of a guest account in the computer system of Illinois State University, which usually takes one to two business days from the time you register, but may take longer during period of heavy use of the system (e.g., end of semester).

All active (i.e., currently enrolled in at least one class, any class, in any major) Illinois State University students are eligible for a scholarship covering their fee for P/1, FM/2, MLC and MFE/3F seminars. Your online registration through the site for registration for Illinois State University students is your application for the scholarship. If we run out of funds we may turn down an application for scholarship, but this has not happened yet (and seriously, do you think we will let this happen? -- this joint is run by an actuary, right?).


Illinois State University students are also eligible for reimbursement of the cost of a study manual purchased for a seminar, as follows:

• 100% reimbursement if after the seminar the student takes the corresponding professional actuarial examination still as a student of Illinois State University and passes it, or

• 50% reimbursement if after the seminar the student takes the corresponding professional actuarial examination still as a student of Illinois State University and fails it. The student must be an active member of the Actuarial Club to receive the reimbursement in case of failing an exam, and if the student subsequently passes the exam still as a student at Illinois State Universit, only the remaining half of the cost will be reimbursed then.

No reimbursement will be provided if the student does not attempt the corresponding professional actuarial examination. Student must still be enrolled at Illinois State Univeristy when the student requests a reimbursement. All reimbursements are always subject to availability of funds (but we have never run out of funds yet, and seriously, do you think we will let this happen? -- this joint is run by an actuary, right?). All reimbursements to Illinois State University students must be made in the form of a payment into the student account at Illinois State University.

Seminars fees are non-refundable. Please think carefully before you make a payment.

 

Philosophy of these seminars

Dr. Ostaszewski's advice for students on how to pass actuarial exams is posted at http://smartURL.it/pass. Some additional ideas are also below:

General idea:

Actuarial exams are challenging. Most students taking an actuarial examination for the first time experience quite a shock. Dr. Ostaszewski prefers to deliver the shock before the exam, so that during the real exam when you look at any problem on the exam, you can say to yourself: Been There Done That! (we call this the BTDT Rule). If you are not serious about actuarial exams, take it easy and laugh about this experience before the exam, you may cry on the exam. We want this reversed: You may cry when you study, but you will laugh on the exam, and you will smile after it.

More specifically :

• You will be pushed out of your comfort zone very quickly. Most students fail actuarial exams because they stubbornly remain in their comfort zone. In other words, the main source of failure is refusing to do things that look scary or uncomfortable to you. So please keep this in mind: We will shock you. Out of love. This is because we want you to pass this actuarial exam, and also all your future actuarial exams. If this feels like love, so the better. Inexplicably to us, for some people this approach may not feel like love. We feel for you, but our duty is to help you, not just feel for you (or worse yet, pretend to feel your pain, the way politicians do that). The reason why our approach may feel like a shock is: You Was Robbed! By your other educators. If you think we do not care about you, you may be doomed. We want to prevent that.

• In the seminar, you are responsible not just for reading the manual or notes, or watching online lectures videos, but for active participation, which means that you follow every detail of every reasoning presented. Every detail. If you skip anything, you may be doomed. We want to prevent that.

• The moment you do not understand a step, you send a message to the seminar instructor or an e-mail to: actuary@illinoisstate.edu. If you continue reading or watching videos even though you did not understand a step, you may be doomed. We want to prevent that.

• You can communicate with the instructor in public discussion forums, or through private messages or e-mails. All private communications with the instructor are private. You should reveal all of your thinking, completely, to the instructor. Please do not say: "Can you explain this example? I do not get it." The work is explained in the video, the best way I could think of. Please tell me where exactly you stop understanding. If you are embarassed to reveal your weaknesses to the instructor (yes, this may be embarassing, but do you want to reveal them on the test insetad?), you may be doomed. We want to prevent that.

• Every question you ask will be answered. You must study and understand the answer. Dr. Ostaszewski's manuals have been called "fat-free" or "sugar-free", because the manuals are so short and to the point. The idea is that you should learn the material as quickly as possible and then practice, memorize, practice, memorize, and practice, and practice. The manuals have twenty practice exams with complete, detailed, fatty and sugary solutions. All Dr. Ostaszewski's problems' and exercises' solutons are fatty and sugary, so that you can taste them . The answers are likely to be like that, too. One time a student of mine complained that a solutiuon to a life contingencies problem included discussion of ancient Greek literature. Yes. Chew on it. It tastes good. It is sweet and fatty, and it is tasty. Chew on it. If you do not, you may be doomed. We want to prevent that.

• We want you to pass the exam you are studying for. We want you to pass it fast. Your success may be more important to us than it is to you. You may bring yourself to the passing level gradually, or fast. We prefer fast. The reason why we think this way is that the mindset we give you is the one you will need for later actuarial exams. If you cuddle yourself into eventually passing P/1 and/or FM/2, but do not develop the high performance mindset, you might be smart enough to eventually become an actuary, yet not make it, end up stuck forever after a couple of exams, unable to progress, and you may be doomed. We want to prevent that.