Financial Mathematics

1
Financial Mathematics

• Math 370

2
Math 370 Instructor

• LILY 3118
• Jeff Beckley
• http//www.math.purdue.edu/jbeckley/
• Math 703
• 49-41861
• 317-698-8543
• jeffbeckley_at_indy.rr.com
• Office Hours
• Tuesday and Thursday
• 100 to 230
• By Appointment

3
Math 370 Textbooks

• Theory of Interest, Second Edition
• Actex Study Manual
• Actex Solutions Manual (Optional)
• Need to order from Mad River Books

4
Math 370 Calculators

• Only Society of Actuaries Exam calculators may be
  used on tests and quizzes.
• See link in Syllabus
• Recommend Texas Instruments BAII Plus
• See PDF files on SoA Website

5
Math 370 Procedures

• First fifteen minutes of each class with be spend
  on homework
• Evaluation
• Quizzes (20)
• 8 unannounced quizzes
• Homework (10)
• Three tests (70)
• Two tests worth 20 each
• Two hour final worth 30

6
Math 370 Procedures

• Quizzes and Tests are closed book
• Only permitted calculators are allowed
• Quizzes cannot be made up
• Lowest Quiz dropped
• Tests can only be made up under extreme
  circumstances
• Homework is essential
• Will not accept late
• 2 lowest grades will be dropped

7
Math 370 Procedures

• Note Test on Thursday before Spring Break
• Quizzes and Homework
• Must show all your work to get full credit.
• Answer without work will get less than 50 credit

8
Math 370 Dual Purpose

• Learn Interest Theory
• Exam Prep Course
• SoA Exam FM
• CAS Exam 2
• Course Outline
• Students Not Taking Exam in Spring

9
Exam FM/Exam 2

• Goal 250 hours of Preparation
• Keep a log
• Turn it in to me weekly
• If you lie to me, you are only fooling yourself
• Work as many problems as you can
• Plan for 250 hours

10
250 Hours

• Week ending 1-14 3 hours
• Next eight weeks 10.5 hours
• Weeks ending 1-21 to 3-11
• Week ending 3-18 0 hours
• Next five weeks 14 hours
• Weeks ending 3-25 to 4-22

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250 Hours (Cont.)

• Week ending 4-29 7 hours
• Week ending 5-6 10 hours
• Weeks ending 5-13 and 5-20 28 hours
• May 21-24 20
  hours
• May 25th PASSING SCORE
• Total hours
  250!!!!