Actuarial Science

Welcome to Actuarial Science! You are encouraged to work through this study guide as quickly as you can. Getting ahead of the schedule is a good thing!

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Actuarial Science

Before Our First Class

* Watch this video: Welcome! (It's one year old, but still accurate!)
* Read the Carthage Mask and Vaccination Policy.
* Read this information on our text that you should have received in an email.

Week 1
Review calculus, including derivatives, integration, improper integrals, and double integrals.

Week of 9/8:

* Log in to the quiz site, available through the link on the left side of this page, or through this link. We will use this site extensively, and you need to make sure it's working. You can also take quizzes through Schoology. Please try both. Your exams will be administed through Moodle.
* Create an account on Khan Academy. You can use your Carthage e-mail (Google) or your Facebook account as a login for Khan. Let me know right away if you have any difficulties. Then add me as a Coach. My coach ID is my e-mail address (my Carthage address with msnavely as the name). The class code is 2NPSNE.
* Optional: Sign up for your free MAA membership at this link.
* Watch this video on office hour procedure.

* You need to review calculus, particularly derivatives and integrals.  While studying, you should only use an exam approved calculator - that means no graphing calculators!  I have included a list of sample problems below, but you should read the chapters, re-work the examples, and do more exercises that I suggest! Some exercises are available in the Homework Solutions section of our website.

* Work through the multivariate calculus tutorial, especially if you have not taken Math 2120 Multivariate Calculus.

* Sample problems:  (JA is the Rogowski/Adams calculus text we used a few years ago, and TC is Thomas, the text we used last year.)

- In RA, Chapter 3 Review Problems, 29-41, 55-62, 95-98.
- In RA, Section 5.3 Problems, 10-25, 36-39.
- In RA, Chapter 5 Review Problems, 43-58, 67-69.
- In RA, Section 5.5, problems 4, 6, 29-32.
- In RA, Section 15.1, Problems 19-22.
- In RA, Section 15.2, Problems 25-28.
- In RA, Chapter 15 Review Problems, 9-14, 15, 19.
-OR-
- In TC, Chapter 3 Review Problems, 29, 41-44.
- In TC, Section 4.8, problems 9-12, 19, 20.
- In TC, Section 5.4, problems 27, 29, 41, 43, 44, 45.
- In TC, Section 5.6, prroblems 65, 67, 75, 77.
- In TC, Chapter 5 Review Problems, 57, 59, 79, 101-104.
- In TC, Section 8.8, problems 2, 21, 24,
- In TC, Section 15.1, problems 1, 2, 3, 5, 9, 17, 18.
- In TC, Section 15.2, problems 9-12, 20, 21, 33-40.

* You could start memorizing the study sheet, but it's best to memorize that material as you use it.
* Read the article on being an actuary available at this link.
* Read the Exam 1 Information at this link.
* In addition to my materials, there is a practice exam online at this link. You can try it whenever you wish. Follow the link for the Probability Exam, then look for the link called Online Sample Exam P. As of this writing, these instructions are accurate.

* Watch this welcome video.
* Watch this video on what to review from calculus.
* Watch this video on how to use the Moodle site.
* Watch this video on what's on the website.


Week 2
Continue calculus review
Online Quiz: Calculus Quiz

Week of 9/13:

* Continue reviewing calculus as outlined above.  You should take the first quiz before Thursday. On Thursday, move on to Section 8.9 in TC.

Study Aid Videos


Week 3
Probability and Calculus and all material we've covered up to now
Online Quiz: Section 8.9 Quiz

Week of 9/20:

Read Section 8.9 in TC, or Section 5.7 in the Help Page.  Re-work all of the examples.

Do exercises 1, 2, 4-6, 8, 11, 13, 15, 17-20, 25-28, 31, 32, 34, 35 from Section 8.9.


Week 4
Basic Probability
and all material we've covered up to now
Online Quiz: Khan Academy Quizzes

Week of 9/27:

In Probability for Risk Management by Hassett and Stewart (HS from now on), read chapter 2, re-work all of the examples, and do all of the exercises.

This week you should start with the Khan Academy quiz over Probability, then keep moving forward through probability until you feel comfortable with basic probability.


Week 5
Conditional Probability and Combinatorial Probability and all material we've covered up to now
Online Quiz: Conditional Probability, Khan Academy Quiz

Week of 10/4:

In HS, read chapter 3 and do all of the exercises.

Master the Khan quiz on Dependent Probability.

If any of you are interested in mathematics tutoring for next semester, you can apply at this link.


Week 6
 Combinatorial Probability, Probability Distributions and all material we've covered up to now
No new quizzes.

Week of 10/11:

Read chapters 4 and 5 in HS and do all of the exercises.  Also, review section 8.9 in your calc text, and study exponential and uniform distributions. Here are some more exercises on the geometric distribution if you want more practice.


Week 7
Review everything you've done so far
Midterm quiz given in class.

10/18:

Re-read Chapters 3, 4, and 5. Work every problem without looking in the back of the book first.

10/20:

Today, you will take a one-hour simulated actuarial exam in class. The only named distribution covered on this quiz is the exponential distribution from Section 8.9. Your score will affect your mid-term grade.


Week 8
Frequently Used Distributions, Discrete and Continuous
and all material we've covered up to now
Online Quiz: Probability Distributions 1 and 2

Week of 10/25:

No Class on Tuesday - Fall Break

Read Chapters 7 and 8 in HS and do all of the exercises


Week 9
Normal Distributions
Online Quizzes: Probability Distributions 3, Normal Distributions

Week of 11/1: Wednesday is the last day to drop a course with a W.

There is a reading on the normal as an approximation to the binomial on the Help Page.


Week 10
Moment Generating Functions
Online Quiz: Moment Generating Functions

Week of 11/8:

Re-read chapters 5 and 8, paying particular attention to moment generating functions.

If you are struggling, one of my former student recommended this site: The Infinite Actuary. You have to pay for their service, but he said it is quite good. Coaching Actuaries has also received good reviews by former students.


Week 11
Transformations of Random Variables
Online Quiz: Transformations

Week of 11/15:

Keep on working!


Week 12
Transformations of Random Variables Continued
Online Quiz: Probability Distributions Review, All of Probability

Week of 11/22:

CLASS WILL NOT MEET ON TUESDAY - PLEASE ASK ANY QUESTIONS YOU HAVE THROUGH THE BLOG OR BY EMAIL.

No class on Thursday due to Thanksgiving Break!

An event that you may want to attend!


Week 13
Joint Distributions
Online Quiz: Joint Distributions 1, 2

Week of 11/29 :

Course evaluations are available. Please fill out a course evaluation.

Keep working and taking quizzes!


Week 14
Cumulative Exams

Take the exams on our course website.

Week of 12/6 :

Keep on working!


Week 15

Week of 12/13 :

You will take a 2-hour simulated actuarial exam on during the final exam period, 10:30-12:30 on Tuesday, December 13.