Mathematics 381, Actuarial Models II, Fall 2018
Illinois State University Mathematics Department
All class materials are available on Reggienet

Dr. Krzysztof Ostaszewski, FSA, CERA, FSAS, CFA, MAAA, Actuarial Program Director
Office: Stevenson Hall room 313G. Office telephone: 309-438-7226, office fax: 309-438-5866. E-mail:

Mr. Ken Williams, FCAS, MAAA, Manager and Property/Casualty Actuary, Country Financial, e-mail:

Classes Meet
Tuesdays and Thursdays 4:00 p.m. - 5:50 p.m. (with a ten minute break), in Stevenson Hall, room 325.
Office Hours
Office hours will be held Tuesdays 2:30 p.m.-- 3:50 p.m., in Stevenson Hall room 313G, by Dr. Krzysztof Ostaszewski. Please ask for an appointment at other times. Appointments with Dr. Krzysztof Ostaszewski should be scheduled at:

Study notes for this class will be provided on Reggienet.

The following textbooks are suggested, but not required:

• David C. M. Dickson, Mary R. Hardy, and Howard R. Waters, Actuarial Mathematics for Life Contingent Risks, Second Edition, Cambridge University Press, August 2013, ISBN: 9781107044074.

• Sheldon M. Ross, Introduction to Probability Models, 11th Edition, Academic Press, 2014, ISBN: 9780124079489.

The objective of this class is to help you learn about long-term actuarial models, as studied in the Society of Actuaries Course LTAM Examination, and the Casualty Actuarial Society Course MAS IExamination. Course LTAM Examination material is covered in MAT 380 and this class, completely. Course MAS I Examination material is covered in MAT 351, MAT 353, and this class, completely.

There will be a total of five tests. Any of the comprehensive tests (as indicated in the schedule) can count as a final. Because there will be so many opportunities for testing and only the best four test scores will affect the class grade, no make-up tests will be offered. 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 10% extra credit for the best of the remaining tests. The grading scale for will be as follows: 90% or better -- A, 80% to 90% -- B, 70% to 80% -- C, 60% to 70% -- D, below 60% -- F. Tests will be about 70% multiple choice, and the rest will be written answer. Students are strongly encouraged to explain their work thoroughly even in the multiple choice part of the test, as points for the work shown may be awarded. Also, this is an undergraduate class available for graduate credit, and this means that graduate students will be required to do additional work to earn the same grade as undergraduate students -- this will be represented in the structure of the tests and the grading scheme.

Important dates
Illinois State University withdrawal information for the Fall 2018 semester is given at this web site:

Student Access and Accommodation Services
Any student needing to arrange a reasonable accommodation for a documented disability and/or medical/mental health condition should contact Student Access and Accommodation Services at 350 Fell Hall, (309) 438-5853, or visit the website at

No recording of this class is allowed
Students may not photograph or use audio or video devices to record classroom lectures or discussions or visual materials that accompany them (e.g., lecture slides, whiteboard notes/equations). Students with disabilities who need to record classroom lectures or discussions must contact Student Access and Accommodation Services to register, request and be approved for an accommodation. Students who violate this policy may be subject to both legal sanctions for violations of copyright law and disciplinary action under the University’s Code of Student Conduct.

Schedule of classes