MATH 4228 Course Outline

Math 4228 – Actuarial Science IIA

Required Text book: ASM Study Manual for Exam LTAM, by Abraham Weishaus, 1st Edition, 2nd Printing

Course Content: Math 4228 is the first of two preparatory courses for the SOA Actuarial Exam LTAM – Long Term Actuarial Models. It covers four topics required for Exam LTAM that are listed below. The remaining topics will be covered in Math 4229 that is offered in the spring semesters.

I. Survival Distribution Models
1. Probability Functions and Actuarial Notations
2. Force of Mortality
3. Mortality Laws
4. Moments: Complete and Curtate
5. Recursive Formulas
6. Fractional Ages
7. Select Mortality

II. Insurances
8. Moments of Discrete Insurances
9. Moments of Continuous Insurances
10. Recursive Formulas and Varying Insurances
11. Relationships between Continuous and Discrete Insurances

III. Annuities
12. Expectation of Discrete Annuities
13. Expectation of Continuous Annuities
14. Variance of Annuities
15. Recursive Formulas and Varying Annuities

IV. Premiums
16. Net Premiums for Discrete Insurances
17. Premium Formulas and Expected Value of Future Loss
18. Net Premiums for Fully Continuous Insurances
19. Gross Future Loss and Gross Premium
20. Variance of Future loss: Discrete and Continuous