Mathematics 480, Spring 2002

Illinois State University Mathematics Department


Dr. Krzysztof Ostaszewski, FSA, CFA, MAAA
Actuarial Program Director
Office: Stevenson Hall, room 313G.
Telephone: 309-438-7226, Fax: 928-244-1757.

Mr. R. Dale Hall,  FSA,  MAAA, MBA
Life and Annuity Actuary
Country Insurance and Financial Services
1711 GE Road
P.O. Box 2000
Bloomington, IL   61702-2000
Telephone: 309-821-6407, Fax: 309-820-5709

Classes Meet
Tuesdays and Thursdays 4:30-6:20 (with a ten minute break), in Stevenson Hall, room 325.

Office Hours
Tuesdays and Thursdays 3:30-4:30 p.m., held by Dr. Ostaszewski. Please ask for an appointment at other times.

Main textbook: Actex Manual for the Society of Actuaries Course 5. It should be available at the ISU Bookstore. If not, please try Alamo II, or The Actuarial Bookstore.
Supplementary textbooks:
A Problem Solving Approach to Pension Funding and Valuation
, (Second Edition), 1996, by Aitken, W.H., Chapters 1-4.
Life Insurance Products and Finance, 2000, by Atkinson, D., and Dallas, J., Chapters 1-11 and 13.
Introduction to Ratemaking and Loss Reserving for Property and Casualty Insurance, (Second Edition), 2001, by Brown, R.L., Chapters 1-4.
Group Insurance, (Third Edition), 2000, edited by Bluhm, W.F., Chapters 1, 5–10, 14–15, 19–21, 23, 30–31, and 36.
The instructors will be giving you some study notes and practice problems. 

The objective of this class is to help you learn about applications of actuarial models in practice. The class will cover a major portion (the mathematical part) of the material tested on the Society of Actuaries Course 5 examination, but not all of it.

There will be four tests and a final examination. You can have a make-up test, but a make-up will be made intentionally at least 20% more difficult. The final will count as 40% of your grade, and the best two of the four tests will count as 30% of your grade each. 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. You will also receive up to 20% extra credit for the better of the your two worst tests, and 20% for class participation. There will also be a 20% bonus comprehensive test on May 2. Class participation may be expressed by making presentations of study notes readings for the Society of Actuaries Course 5 examination. All tests will be modeled on problems on the real actuarial exams.

Other issues
You are expected to be in class, be prepared and able to contribute to the discussion.  The classroom is a place of learning and showing respect for others at all times.

Schedule of classes
All information contained here is, to our best knowledge, correct, but it is merely a representation, and should not be considered to be any form of professional advice. This electronic publication should not be misconstrued as the official position of Illinois State University, or its Department of Mathematics. We are glad to provide as much information as possible here, but we kindly ask that in any decision related to matters listed here you seek additional counsel and information. Comments on this page are welcome and should be sent to Dr. Krzysztof Ostaszewski  at his e-mail address: