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Stat 479: Loss Models

Meets: Tuesday and Thursday from 3:00 to 4:15

Armstrong B071

Instructor: Jeff Beckley

Office: 818 Mathematics Building Phone: 49—40493 or 317-698-8543

E-mail: jeffbeckley@indy.

Web

Office Hours:

Tuesday and Thursday 10:30 – Noon

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 2010. The Society of Actuaries website states: “Candidates may ONLY use the battery or solar–powered Texas Instruments BA–35 model calculator, the BA II Plus*, the BA II Plus Professional*, the TI–30Xa or TI–30X II* (IIS solar or IIB battery), or TI-30XB MultiView (XS Solar or XB Battery). Candidates may use more than one of the approved calculators during an examination.” Use of any other calculator on a test or quiz will result in a zero on that test or quiz.

The class website has instructions from the Society of Actuaries website for either calculator that you choose.

Please bring your calculator to each class.

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:

|Tables |2% |

|Homework |5% |

|Quizzes |18% |

|Test 1 |25% |

|Test 2 |25% |

|Final |25% |

|Total |100% |

Homework: Homework is due at the beginning of class. No homework will be accepted past the due date, but your lowest two homework scores will be dropped.

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

Grades

Grades will be on a plus/minus scale as follows:

|Score |Grade |

|99.5% and above |A+ |

|94-99.4 |A |

|90-93.9 |A- |

|87-89.9 |B+ |

|83-86.9 |B |

|80-82.9 |B- |

|77-79.9 |C+ |

|73-76.9 |C |

|70-72.9 |C- |

|67-69.9 |D+ |

|63-66.9 |D |

|60-62.9 |D- |

|59.9 and below |F |

Academic Dishonesty (Cheating)

• Academic Dishonesty will not be tolerated!

• Copying someone else’s HW is Academic Dishonesty! Giving your homework to someone else who copies it is Academic Dishonesty!

• If you cheat on HW or Quiz, penalty is a zero on the homework or Quiz and 5% of the total score for the class.

• If you cheat on a Test, you will receive a failing grade in this class.

Academic Adjustments

Students who have been certified by the Office of the Dean of Students -- Adaptive Programs as eligible 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

April 19, 2012

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 January 17, you are to read Chapter 3.1 in the book and you will turn in the Homework (1-8) listed on the 17th.

The Homework for the class will consist of the problems posted on the website.

|Date |Reading |Problems |

|1/10 |Introduction | |

|1/12 |Chapters 1-2 | |

|1/17 |Chapter 3.1, |1-8 |

|1/19 |Chapter 3.2,3.3, 3.4, 3.5, Quiz |9. a-d, 10-12, 13. a-e, 15. a-f, 17 |

|1/24 |Chapter 4 and 5.1-5.4 |9. e-f, 13. f-i, 14, 15. h-i, 18 |

|1/26 |Chapter 6.1-6.5, 6.7, Quiz |19-24 |

|1/31 |Chapter 8.1-8.2 |25-40 |

|2/2 |Chapter 8.3-8.5, Quiz |41a-d,42,43a-d, 44, 46, 48, 53, 54,57 |

|2/7 |Chapter 9.1-9.3 |41e,43e,45,47,49-52,55,56, |

| | |58-60 |

|2/9 |Chapter 9.3 |61-65 |

|2/14 |Test | |

|2/16 |Chapter 9.4-9.5 |66-70, 81-84 |

|2/21 |Chapter 9.6-9.7 |None-Enjoy your Weekend |

|2/23 |Chapter 9.11, Quiz |71 a & b, 72-77 |

|2/28 |Chapter 12 |78-80, 85-87 |

|3/1 |Chapter 13.1-13.2, Quiz |88-91,93 |

|3/6 |Chapter 13.3 and 14.1 |None-Enjoy your Weekend |

|3/8 |Chapter 14.2, Quiz |94-96 |

|3/13 |Spring Break | |

|3/15 |Spring Break | |

|3/20 |Chapter 14.3 | |

|3/22 |Chapter 14.4, 15.1 |14.1, 14.3, 14.6-14.8, 14.14, 14.19, 14.20, |

| | |14.22, 14.23, |

| | |97-102 |

|3/27 |Test | |

|3/29 |Chapter 15.1-15.2, Quiz | |

|4/3 |Chapter 15.2, 15.6 |103-113 |

|4/5 |Chapter 15.3-4, Quiz |114-125, 127 |

|4/10 |Chapter 16.1-16.3 |126, 128, 129 |

|4/12 |Chapter 16.3-16.4, Quiz |130-134 |

|4/17 |Chapter 21.1 |135-139 |

|4/19 |Chapter 21.2, Quiz |140-145 |

|4/24 | |146-147 |

|4/26 | | |

|?? |Final | |

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