Instructor
Dr. Krzysztof Ostaszewski,
FSA,
CFA,
MAAA
Actuarial Program
Director
Office:
Stevenson Hall,
room 313G.
Telephone: 309-438-7226, Fax: 928-244-1757.
E-mail: krzysio@ilstu.edu
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
E-mail: dale.hall@countryfinancial.com
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.
Textbooks
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.
Objective
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.
Grading
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
- Tuesday, January 15, 2002. Life insurance valuation.
- Thursday, January 17, 2002. Life insurance valuation.
- Tuesday, January 22, 2002. Commissioners Reserve Valuation Method.
- Thursday, January 24, 2002. Valuation of non-forfeiture benefits.
- Tuesday, January 29, 2002. Asset shares.
- Thursday, January 31, 2002. Asset shares.
- Tuesday, February 5, 2002. Commissioners Annuity Reserve Valuation
Method.
- Thursday, February 7, 2002. Cash flow testing.
- Tuesday, February 12, 2002. Actuarial opinion and memorandum.
- Thursday, February 14, 2002. Test No. 1, covering all topics through
February 12.
- Tuesday, February 19, 2002. Pension funding and valuation. Class
taught by Mr. Dale Hall.
- Thursday, February 21, 2002. Pension funding and valuation.
Class taught by Mr. Dale Hall.
- Tuesday, February 26, 2002. Pension funding and valuation. Class
taught by Mr. Dale Hall.
- Thursday,February 28, 2002. Pension funding and valuation. Class
taught by Mr. Dale Hall.
- Tuesday, March 5, 2002. Pension funding and valuation. Class
taught by Mr. Dale Hall.
- Thursday, March 7, 2002. Pension funding and valuation. Class
taught by Mr. Dale Hall.
- Tuesday, March 19, 2002. Test No. 2, covering all topics through
March 7.
- Thursday, March 21, 2002. Ratemaking and loss reserving for
property and casualty insurance. Class taught by Mr. Dale Hall.
- Tuesday, March 26, 2002. Ratemaking and loss reserving for property
and casualty insurance. Class taught by Mr. Dale Hall.
- Thursday, March 28, 2002. Ratemaking and loss reserving for
property and casualty insurance. Class taught by Mr. Dale Hall.
- Tuesday, April 2, 2002. Ratemaking and loss reserving for property
and casualty insurance. Class taught by Mr. Dale Hall.
- Thursday, April 4, 2002. Ratemaking and loss reserving for property
and casualty insurance. Class taught by Mr. Dale Hall.
- Tuesday, April 9, 2002. Test No. 3, covering all topics through
April 4.
- Thursday, April 11, 2002. Group insurance valuation.
- Tuesday, April 16, 2002. Group insurance valuation.
- Thursday, April 18, 2002. Group insurance valuation.
- Tuesday, April 23, 2002. Group insurance valuation.
- Thursday, April 25, 2002. Group insurance valuation.
- Tuesday, April 30, 2002. Test No. 4, comprehensive.
- Thursday, May 2, 2002. Practice bonus test.
- Tuesday, May 7, 2002. Final examination, comprehensive.
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:
krzysio@ilstu.edu.