MATH 652 - Long-Term Actuarial Mathematics 1 - Fall 2026 - Course Information and Grading

Sep 27, 2026

Uploaded by lugxt

MATH 652 Long-Term Actuarial Mathematics 1 (Fall 2026) develops the statistical and probabilistic foundations needed for the Society of Actuaries (SOA) Fundamentals of Actuarial Mathematics—Long-Term (FAM-L) exam. The course is organized into six chapters covering survival models, life tables and selection, insurance benefits, life annuities, premiums, and policy values. It aligns with the FAM-L syllabus topics on mortality models and long-term present value and policy value computations, supported by lecture notes, practice problems, quizzes, midterms, and a final exam.

LanguageEnglish

CategoryExam

FormatPDF

Pages5

Reading Time13 min

AccessFree to download

Overview

Course objectives and chapter structure

Exam FAM and coverage mapping

FAM-L topics emphasized

Recommended study materials

Required and recommended texts

Grading scheme

Homework, participation, quizzes, midterms, final, bonus

Academic policies

Collaboration and late policy

Academic integrity and plagiarism policy

MATH 652 Long-Term Actuarial Mathematics 1 Fall 2026 Instructor: ~~ ~~ g Associate Professor Siyang Tao, Ph.D., ASA U Office Hours: TR 10:40 am- 11:30 am ½ Office: RB 429 T 765-285-8681 􀀀 [https://sites.google.com/](https://sites.google.com/)[ ](https://sites.google.com/)view/siyangtao @ [tao@bsu.edu](tao@bsu.edu) (the best way to contact me) Course Info: 􀀇 Prereq: MATH 267, MATH 320, and MATH 351 􀀒 Weekly schedule U TR 9am-10:40am ½ RB 452 Department: ~~ ~~ 􀀒 DEO: Professor Dan Rutherford U Phone: 765-285-8640 ½ Office: RB 465 Overview The objective of this course is to develop a comprehensive understanding of the statistical and probabilistic techniques required for the Society of Actuaries (SOA) Fundamentals of Actuarial Mathematics—Long-Term (FAM-L) exam. The material is organized into six chapters, progressively delving into higher levels of technical complexity: Chapter 1 . Survival Models (3 .5 weeks) Chapter 2 . Life Tables and Selection (2 weeks) Chapter 3 . Insurance Benefits (2 .5 weeks) Chapter 4 . Life Annuities (2 .5 weeks) Chapter 5 . Premiums (1 .5 weeks) Chapter 6 . Policy Values (1 .5 weeks) Exam FAM The FAM exam consists of a short-term portion (FAM-S) and a long-term portion (FAM-L) . The exam is 3 .5 hours long and contains a total of 34 questions. While the test includes exactly 17 questions from each area, they are presented randomly and are not explicitly labeled by section. Additional information about Exam FAM, including the official syllabus, can be found at this link. Of the four topics comprising the FAM-L exam syllabus (which accounts for 50% of the total FAM exam), this course will cover: • Topic 8: Mortality Models (10%–15%) • Topic 9: Present Value Random Variables for Long-Term Insurance Coverages (12.5%–20%) • Topic 10: Premium and Policy Value Calculation for Long-Term Insurance Coverages (15%–22.5%) Combined, these areas account for approximately 95% of the FAM-L material. Topic 7: Long-Term Insurance Coverages and Retirement Financial Security Programs (2.5%–5%) will be assigned for independent study. Recommended Texts / Study Material Required Texts There is no required textbook for this course. Our primary resource will be the comprehensive lecture notes available on Canvas. These notes cover all essential concepts for the SOA Exam FAM-L and are designed to provide a deep understanding of the material. They also include numerous examples and practice problems to help you prepare for the exam. Additionally, I will provide printed copies of all necessary supplementary handouts in class. Recommended Texts • Actuarial Mathematics for Life Contingent Risks (3rd Edition) , 2020, by D. C. M. Dickson, M. R. Hardy, H. R. Waters, Cambridge University Press. Grading Scheme 19% Homework: Weekly assignments will be distributed by Tuesday and are due at the beginning of class (9:00 am) the following Tuesday. Solutions will be posted that same day. Your lowest homework score will be dropped from your final grade calculation. A note on collaboration: While you are encouraged to discuss problems with peers, you must write up your solutions independently. Note for Fall 2026: Hard-copy submissions are preferred. If you are unable to submit a physical copy, you may submit your assignment via email prior to the 9:00 am deadline. 1% Participation: During the semester, the department will host an Ac tuarial Science Speaker Series (date and time TBA) . Your attendance and active engagement at this event will count toward your participation grade. 10% Quizzes: Four 15-minute, closed-book quizzes will be given in class on Thursdays (see the course schedule on the last page for specific dates) . These are designed to encourage consistent review of the course material. 40% Midterm Exams (20% each): Two 100-minute, closed-book written midterm exams will be held in class (9:00 am – 10:40 am) on Thursday, September 24, and Thur

FAQs

What exam and syllabus does MATH 652 prepare for?

The course prepares students for the SOA Fundamentals of Actuarial Mathematics—Long-Term (FAM-L) exam. It targets the FAM-L syllabus topics that account for the majority of the long-term portion.

Which areas of the FAM-L syllabus will the course cover?

The course covers mortality models, present value random variables for long-term insurance coverages, and premium and policy value calculations. These areas together represent about 95% of the FAM-L material, while one related topic is assigned for independent study.

How is student performance graded in this course?

Grades include homework (with the lowest score dropped), participation, four short closed-book quizzes, two closed-book written midterms, and a comprehensive closed-book final exam. There is also a bonus component tied to resume submission and company presentations.

Sep 27, 2026

Uploaded by lugxt