Stat 444: Long-term Actuarial Mathematics

Winter 2024
TuTh 2:00-3:15 pm
WVB 1159
Syllabus
Announcements

We will cover advanced topics in life insurance and retirement. We will discuss multiple state models, joint lives, profit analysis, options, universal life and pensions. This course covers all the material on exam ALTAM.

Lectures

Lecture 1 - Multiple State Models
Lecture 2 - Long-term Health Coverages
Lecture 3 - Multiple Lives and Decrements
Lecture 4 - Profit Analysis
Lecture 5 - Pension Mathematics
Lecture 6 - Universal Life Insurance
Lecture 7 - Embedded Options
In-class Review

Homework

Assignment 1 - Written Solution - Excel Solution
Assignment 2 - Written Solution - Excel Solution
Assignment 3 - Written Solution - Excel Solution
Assignment 4 - Written Solution
Assignment 5 - Written Solution - Employee Roster
Assignment 6 - Written Solution - Policy Basis
Assignment 7 - Written Solution

Exams

Tables
Practice Midterm - Solution
Practice Final - Solution

SOA Exam ALTAM

Syllabus
Excel Workbook
Notation
Questions and Solutions
Formula Sheet

Supplementary Material

Kolmogorov Details
SSSM-LifeTable
Profit by Source Example
Profit Testing Example
Universal Life Example
UL Product Spec Sheet
Binomial Tree
GMDB Examples

Acknowledgements

Thanks to Chris Groendyke.