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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.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":20,"@type":76,"position":81},"https://docshare.wps.com/document/exam/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/math-652-long-term-actuarial-mathematics-1-fall-2026-course-information-and-grading/398911/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/math-652-long-term-actuarial-mathematics-1-fall-2026-course-information-and-grading/398911.png","ImageObject",300,407,{"name":92,"@type":93},"lugxt","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-11-05","2026-09-27",true,{"@type":102,"interactionType":103,"userInteractionCount":56},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"What exam and syllabus does MATH 652 prepare for?","Question",{"text":112,"@type":113},"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.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"Which areas of the FAM-L syllabus will the course cover?",{"text":117,"@type":113},"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.",{"name":119,"@type":110,"acceptedAnswer":120},"How is student performance graded in this course?",{"text":121,"@type":113},"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. 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The material is organized into six chapters, progressively delving into higher levels of technical complexity:  \nChapter 1 . Survival Models (3 .5 weeks)  \nChapter 2 . Life Tables and Selection (2 weeks)  \nChapter 3 . Insurance Benefits (2 .5 weeks)  \nChapter 4 . Life Annuities (2 .5 weeks)  \nChapter 5 . Premiums (1 .5 weeks)  \nChapter 6 . Policy Values (1 .5 weeks)  \nExam FAM  \nThe 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.  \nOf the four topics comprising the FAM-L exam syllabus (which accounts for 50% of the total FAM exam), this course will cover:  \n• Topic 8: Mortality Models (10%–15%)  \n• Topic 9: Present Value Random Variables for Long-Term Insurance Coverages (12.5%–20%)  \n• Topic 10: Premium and Policy Value Calculation for Long-Term Insurance Coverages (15%–22.5%)  \nCombined, 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.  \nRecommended Texts / Study Material  \nRequired Texts  \nThere 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.  \nRecommended Texts  \n• Actuarial Mathematics for Life Contingent Risks (3rd Edition) , 2020, by D. C. M. Dickson, M. R. Hardy, H. R. Waters, Cambridge University Press.  \nGrading Scheme  \n19% Homework: Weekly assignments will be distributed by Tuesday and  \nare 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.  \nA note on collaboration: While you are encouraged to discuss problems with peers, you must write up your solutions independently.  \nNote 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.  \n1% Participation: During the semester, the department will host an Ac  \ntuarial Science Speaker Series (date and time TBA) . Your attendance and active engagement at this event will count toward your participation grade.  \n10% Quizzes: Four 15-minute, closed-book quizzes will be given in class  \non Thursdays (see the course schedule on the last page for specific dates) . These are designed to encourage consistent review of the course material.  \n40% 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","cbCaioJsJ15yhUl3","https://ap.wps.com/l/cbCaioJsJ15yhUl3","pdf",120678,"English","# Overview\n## Course objectives and chapter structure\n# Exam FAM and coverage mapping\n## FAM-L topics emphasized\n# Recommended study materials\n## Required and recommended texts\n# Grading scheme\n## Homework, participation, quizzes, midterms, final, bonus\n# Academic policies\n## Collaboration and late policy\n## Academic integrity and plagiarism policy","[{\"question\":\"What exam and syllabus does MATH 652 prepare for?\",\"answer\":\"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.\"},{\"question\":\"Which areas of the FAM-L syllabus will the course cover?\",\"answer\":\"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.\"},{\"question\":\"How is student performance graded in this course?\",\"answer\":\"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.\"}]","MATH 652 - Long-Term Actuarial Mathematics 1 - Fall 2026 - Course Information and Grading | PDF",1790490012,13]