Stat479: Loss Models

Stat479: Loss Models

Meets: Tuesday and Thursday from 1:30 to 2:45

REC 316

Instructor: Jeff Beckley

Office: 818MathematicsBuildingPhone: 49—40493 or 317-698-8543

E-mail:

Web

Office Hours:

Tuesday Noon – 1:30

Thursday Noon – 1:30

or by appointment

General Information

The course will cover the learning objectives for a portion of the Society of Actuaries Examination C and the Casualty Actuarial Society Examination 4. The Course will not cover Credibility.

Textbook:Loss Models: From Data to Decisions (Third Edition)

By Klugman, Panjer, and Wilmont

Published by Wiley

Calculators

The only calculators permitted for this class will be those permitted to be used on the Society of Actuaries examinations in the Fall of 2009.

Procedures

Evaluation will be based on a combination of tests, quizzes, and homework.

There will be 10 quizzes during the semester. Quizzes will be announced. The lowest quiz grade will be disregarded.

There will be 2 tests of an hour and 15 minutes each and a two hour final.

All tests and quizzes will be closed book and closed notes. You will be able to use the SoA ‘cheat sheet.’ Calculators are allowed. Quizzes cannot be made up under any circumstances. There will be no makeup exams except in extreme circumstances and then only with a prior arrangement with the instructor.

Final grades will be based on the following weights:

Homework / 10%
Quizzes / 15%
Test 1 / 25%
Test 2 / 25%
Final / 25%
Total / 100%

For homework,quizzes and the tests, answers are expected to include all the work necessary to do the problem.

Homework will be handed out in class.

Academic Adjustments

Students who have been certified by the Office of the Dean of Students -- Adaptive Programs aseligible for academic adjustments should go to MATH 242 and request an Information Sheet for this semester that explains how to proceed this semester to get these adjustments made in Mathematics courses. (Procedures are not the same as last semester.) This should be done during the first week of classes. Only students who have been certified by the ODOS-Adaptive Programs and who have requested ODOS to send their certification letters to their instructors are eligible for academic adjustments.

Students who are currently undergoing an evaluation process to determine whether they are eligible for academic adjustments, are encouraged to find out now what procedures they will have to follow when they are certified, by requesting the above mentioned Information Sheet from MATH 242.

Large print copies of the Information Sheet are available from MATH 242 upon request.

Course Outline

At this time, this outline is a work in progress and will be updated as necessary. The reading is to be done by the date listed and the homework is to be turned in on the date listed. For example, prior to class on September 1, you are to read Chapter 3.1in the book and you will turn in the Homework (1-8)listed on the 1st.

The Homework for the class will consist of the problems handed out by me.

Date / Reading / Problems
8-25 / Introduction
8-27 / Chapters 1-2
9-1 / Chapter 3.1 / 1-8
9-3 / Chapter 3.2, 3.3, 3.5, Quiz / 9, 10, 12, 13a-e, 14a-f, 15a-f, 17
9-8 / Chapter 4 and 5.1-5.4 / 11, 13f, 14g, 15g, 16, 18, 20-23
9-10 / Chapter 6.1-6.5, 6.7, Quiz / 19, 20, 24-27
9-15 / Chapter 8.1-8.2 / 28-40
9-17 / Chapter 8.3-8.5, Quiz / 41a-d, 42, 43a-d, 44, 46, 48
9-22 / Chapter 9.1-9.3 / 41e, 43e, 45, 47, 49-60
9-24 / No Class
9-29 / Chapter 9.3-9.4 / 61-65
10-1 / Chapter 9.5-9.6, Quiz / 66-71
10-6 / Test
10-8 / Chapter 9.7 / 73, 74
10-13 / October Break
10-15 / Chapter 12, Quiz / 72, 75-83
10-20 / Chapter 13 / 84-92
10-22 / Chapter 13, Quiz
10-27 / Chapter 13 / 93-98
10-29 / Chapter 14.1-14.2, Quiz
11-3 / No Class – Actuarial Exams
11-5 / Chapter 14.2-14.3, Quiz / 99-101
11-10 / Test
11-12 / Chapter 15.1-15.2 / 11.1-11.2, 11.6-11.9
11-17 / Chapter 15.3 / 11.11, 11.16, 11.17, 11.19, 11.20, 102-107
11-19 / Chapter 15.3 – 15.4, Quiz / 108-117, 122-128
11-24 / Chapter 15.6 / 118-121, 129-130, 132
11-26 / Thanksgiving
12-1 / Chapter 16.1-16.3 / 133-139
12-3 / Chapter 16.3-16.4, Quiz / 140-144
12-8 / Chapter 21.1 / 145-147
12-10 / Chapter 21.2 / 148-152