Mathematics 350, Summer 2009

Illinois State University Mathematics Department

Dr. Krzysztof Ostaszewski, FSA, CFA, MAAA
Actuarial Program Director
Office: Stevenson Hall room 313G.
Telephone: 309-438-7226, Fax: 309-438-5866
Classes Meet
Monday through Thursday, May 18, 2009 -- June 25, 2009, 3:00 p.m. -- 5:30 p.m., in Williams Hall room 111.
Office Hours
Tuesdays, Wednesdays, and Thursdays 2:00-2:50 p.m. in STV 313G. Please ask for an appointment at other times.


You can use either of these books:

ASM Study Manual for the Course P/1 Examination, by Krzysztof M. Ostaszewski, (the first section of this book is posted free at the class web site), or
Modern Mathematical Statistics with Applications, by Jay L. Devore and Kenneth N. Berk.

The books should be available at the ISU Bookstore. If not, please try Alamo II, Actex Publications, The Actuarial Bookstore, or Slide Rule Books. The class will be structured so that you can use any reasonable probability book, as long as it covers the entire material of the Society of Actuaries Course P (same as Casualty Actuarial Society Course 1) examination. Detailed information about the content of that examination is provided here. Older editions of the ASM Manual for Course P/1 Examination are available on reserve at the Milner Library and at the Library of the Department of Mathematics.

All students enrolled in this class are also signed up for Course P/1 study resources on Blackboard at Illinois State University. Those resources include complete study notes and practice exams. Those resources are for one-time educational use and cannot be distributed in any form.

Any illegal copying of copyrighted and/or otherwise protected material by students in this class will be considered a serious offence warranting reporting it to the appropriate university and federal authorities.

The objective of this class is to help you learn about calculus-based probability theory. The class will cover all of the material tested on the Society of Actuaries Course P examination (same as the Casualty Actuarial Society Course 1 examination).
There will be six examinations, all comprehensive. There will be no make-up tests. The best one of the six tests can count as your final examination. The final will count as 40% of your grade, and the best two of the remaining tests will count as 30% of your grade each. You will also receive up to 20% extra credit for the best of the your three worst tests. The grading scale will be as follows: 90% or better -- A, 80% to 90% -- B, 70% to 80% -- C, 60% to 70% -- D, below 60% -- F. Graduate students taking this class for graduate credit will have their scores on tests multiplied by a factor of 0.9, i.e., they have to earn approximately 10% higher scores in order to receive a grade carrying graduate credit.
Disability concerns
Any student needing a special accommodation for a documented disability should contact Disability Concerns at Fell Hall, Room 350.

Administrative matters

Once a course has begun, students will need to obtain departmental permission to add a course even if seats are available. As of the date of the class beginning, students must register in-person at the Student Service & Referral Center, 107 Moulton Hall. Withdrawal dates for summer courses can be found on the Registrar's Web site at

Schedule of classes

Monday, May 18, 2009. General probability concepts.

• Tuesday, May 19, 2009.General probability concepts.

• Wednesday, May 20, 2009. General probability concepts. 

• Thursday, May 21, 2009. General probability concepts.
• Monday, May 25, 2009. Memorial Day Holiday, no class.
• Tuesday, May 26, 2009. Random variables and probability distributions.
• Wednesday, May 27, 2009. Random variables and probability distributions.
• Thursday, May 28, 2009. Random variables and probability distributions.
• Monday, June 1, 2009. Random variables and probability distributions.
• Tuesday, June 2, 2009. Multivariate distributions.
• Wednesday, June 3, 2009. Multivariate distributions.
• Thursday, June 4, 2009. Multivariate distributions.

• On Saturday, June 6, 2009 and Sunday, June 7, 2009, the Actuarial Program will hold a special intensive review seminar on the material on Course P/1 actuarial examination. More information is here. All students in this class can take that seminar at no charge, provided that they meet conditions listed at the review seminar web site.
• Monday, June 8, 2009. Multivariate distributions.
• Tuesday, June 9, 2009. Applications of probability.
• Wednesday, June 10, 2009. Applications of probability.
• Thursday, June 11, 2009. Applications of probability.
• Monday, June 15, 2009. Test No. 1.
• Tuesday, June 16, 2008. Test No. 2.
• Wednesday, June 17, 2009. Review, practice exercises, questions and answers.
• Thursday, June 18, 2009: Review, practice exercises, questions and answers.
• Monday, June 22, 2009. Test No. 3.
• Tuesday, June 23, 2009. Test No. 4.
• Wednesday, June 24, 2009. Test No. 5.

• Thursday, June 25, 2009: Test No. 6.