Mathematics 381, Actuarial Models II, Fall 2022
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, Staff Actuary, Casualty Actuarial Society. e-mail:

Classes Meet
Tuesdays and Thursdays 4:00 p.m. - 5:50 p.m. (with a ten minute break), in Stevenson Hall room 324 or online, via Zoom (depending on circumstances, students will be kept informed, but even for live classes, Zoom access will be provided to all students). Information about Zoom access has been sent to all students enrolled in the class. If you experience any trouble accessing the class using Zoom, call Dr. Ostaszewski immediately.

Office Hours
Office hours will be held by Dr. Krzysztof Ostaszewski by appointment through Zoom at: Appointments with Dr. Krzysztof Ostaszewski should be scheduled at: E-mail or call Dr. Krzysztof Ostaszewski if you need help quickly.

Complrte study notes for this class are 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, Third Edition, Cambridge University Press, 2020, ISBN: 9781107044074.

• Sheldon M. Ross, Introduction to Probability Models, 12th Edition, Academic Press, 2019, ISBN: 9781108478083.

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

There will be a total of six tests. Any of the comprehensive tests (as indicated in the schedule) can count as a final. Because there will be many opportunities for testing and only the best three scores will affect the class grade (but with the opportunity for extra credit for two more tests), 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 two (each) 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. Graduate students should expect to do about 10% more work than undergraduate students for the same grade.

The tests in the class may be given online. Note that use of a webcam by each student may be required for tests in this class that will be given online. Students may have to go through Onboarding Test in Proctortrack before they can take class tests.

Class attendance
While this class does not have a strict formal attendance requirement, students who actively participate in class, and make a significant contribution may be granted extra credit. You are expected to attend classes and be involved in the learning process. If you must miss class due to an extended illness (3 or more consecutive class days) or bereavement, the Student Health Services and the Dean of Students Office can help. Please note this university policy: Excused Student Absences Due to Communicable Disease. 

Important dates
Illinois State University withdrawal information for the Fall 2022 semester is given at the web site of University Registrar.

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 Service 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