AS 2427B - Long Term Actuarial Math I - Course Outline

Sep 27, 2026

Uploaded by Eliana

AS 2427B Long Term Actuarial Math I outlines an actuarial mathematics course for Winter 2023, covering single life annuity and life insurance loss random variables, survival models, mortality improvement, and longevity modeling. It details learning outcomes aligned with SOA Exam FAM and specifies lectures, tutorials, delivery mode, and key session dates including an in-person-to-online contingency plan. Topics include life insurance introduction, survival modeling, life tables and selection, insurance benefits, life annuities, and premium calculation with PV/EPV and variance computations, plus evaluation weights and quiz/test schedules.

LanguageEnglish

CategoryExam

FormatPDF

Pages7

Reading Time18 min

AccessFree to download

Course Information

Instructor Information

Course Syllabus, Schedule, Delivery Mode

Key Sessional Dates

Contingency Plan

Course Materials

Chapters and Sections to Be Covered

Methods of Evaluation

Quizzes, Tests, and Final Exam

Department of Statistical and Actuarial Sciences AS 2427 Long Term Actuarial Math I Course Outline 1. Course Information Course Information Course name: AS 2427B-Long Term Actuarial Math I Academic Term: Winter 2023 Lecture hours and location: MWF 12:30pm-13:30pm, B&GS-0153 Tutorial hour and location: Tu 2:30pm-3:30pm, NCB-117 List of Prerequisites Prerequisites: AS 2553A/B, Stats 2857A/B, and Cal 2402A (or Cal 2502) with a minimum grade of 60% in each of these courses Unless you have either the requisites for this course or written special permission from your Dean to enroll in it, you may be removed from this course and it will be deleted from your record. This decision may not be appealed. You will receive no adjustment to your fees in the event that you are dropped from a course for failing to have the necessary prerequisites. 2. Instructor Information | Instructors | Email | Office | Phone | Office Hours | | --- | --- | --- | --- | --- | | Dr. Shu Li
(Instructor & Course Coordinator) | [shu.li@uwo.ca](shu.li@uwo.ca) | WSC 229 | 5196612111
ext. 85419 | | | Duo Xu
(Teaching assistant) | [dxu258@uwo.ca](dxu258@uwo.ca) | | - | | Students must use their Western (@[uwo.ca](uwo.ca)) email addresses when contacting their instructors, and indicate the course number (AS 2427) in the subject line. We strive to answer all emails within 2 business days. 3. Course Syllabus, Schedule, Delivery Mode Course Description: Single life annuity and life insurance loss random variables and their distributions, with applications to the analysis of benefit premiums and reserves; survival model and their estimation; mortality Improvement and longevity models. Learning Outcomes: The course material supports part of the Learning Objectives/Outcomes from SOA Exam FAM–Fundamentals of Actuarial Mathematics Syllabus. | Type | Mode | Dates | Time | Frequency | | --- | --- | --- | --- | --- | | Lecture | In-person | MWF | 12:30pm-13:30pm | weekly | | Tutorial | In-person | T | 2:30pm-3:30pm | Tests and Quizzes | Note that the office hours are held in-person. Key Sessional Dates Classes begin: January 9, 2023; Spring Reading Week: February 18 – February 26, 2023; Classes end: April 10, 2023; Exam period: April 13 – 30, 2023. Contingency plan for an in-person class pivoting to 100% online learning In the event of a COVID-19 resurgence during the course that necessitates the course delivery moving away from face-to-face interaction, affected course content will be delivered entirely online, either synchronously (i.e., at the times indicated in the timetable) or asynchronously (e.g., posted on OWL for students to view at their convenience) . The grading scheme will not change. Any remaining assessments will also be conducted online as determined by the course instructor. 4. Course Materials Textbook: Actuarial Mathematics for Life Contingent Risks (AMLCR) by Dickson, C.M.D., Hardy, M.R., and Waters, H.R., 2020, Third Edition. Cambridge University Press. A solutions manual for the AMLCR text has been published and can be purchased online from Amazon. We will cover Chapters 1 to 5 and Chapter 6 Sections 6.1 to 6.5 ofthe ALMCR text including the following topics: 􀁸 Chapter 1 Introduction to life insurance o Brief introduction on the terminology and major types of life insurance, annuity and pension contracts. 􀁸 Chapter 2 Survival models o Future life time random variable, survival function, force of mortality, international actuarial notation (IAN), expected complete and curtate future lifetime 􀁸 Chapter 3 Life Tables and Selection o Life tables, fractional age assumptions, life insurance, survival models, select & ultimate models, mortality trends 􀁸 Chapter 4 Insurance Benefits o IAN, PVRV and EPV (& variance) calculations for various types of life insurance with different death benefit payout timing assumptions 􀁸 Chapter 5 Life Annuities o IAN, PVRV and EPV (& variance) c

FAQs

What are the key learning outcomes for AS 2427B?

The course supports learning objectives aligned with SOA Exam FAM–Fundamentals of Actuarial Mathematics, covering life contingencies, survival models, mortality improvement, and longevity modeling through applied estimation and valuation topics.

What topics and textbook chapters are covered?

Coverage includes Chapters 1 to 5 and Chapter 6 Sections 6.1 to 6.5 of Actuarial Mathematics for Life Contingent Risks, including survival functions, life tables and selection, insurance benefits, life annuities, and premium calculation using PV/EPV with variance.

How is student performance evaluated in the course?

Grades combine three 30-minute quizzes (15%, 5% each), two 1-hour tests (40%, 20% each), and a 3-hour final exam (45%). All evaluations are closed book, with a one-week window to request remarking after papers are returned.

Sep 27, 2026

Uploaded by Eliana

AS 2427B - Long Term Actuarial Math I - Course Outline_Page 1

Open in WPS to view all 7 pages