Office Hours: Posted at http://www4.ncsu.edu/~scroggs/mywebsite/OfficeVisits.html.
E-mail address: scroggs@ncsu.edu
Office: SAS 2108 B
Phone Number: 919.515.7817
TA: Pavan Kumar Ramabhotla (email)
Instructor home page: http://www4.ncsu.edu/~scroggs/mywebsite
Course web site: http://www4.ncsu.edu/~scroggs/ma412
Class meeting times: TuTh, 3:00-4:15, 2225 SAS Hall
Communication: Moodle will be used for most communications in this course.
Prerequisite: MA 241 or MA 231, Corequisite: MA 421, BUS(ST) 350, ST 301, ST 311, ST 361, ST 370, ST 371, ST 380 or equivalent
This class does not satisfy a General Education Requirement
Compound Interest and Basic Annuities: Theory of compound interest in both discrete and continuous time; application of concepts of present value and accumulated value to various streams of cash flow; nominal and effective interest and discount rates, and the force of interest; annuity-immediate and annuity-due
Failure Time Distributions: Discrete and continuous univariate probability distributions for failure time random variables, and their relation to life table functions, survival functions, and the force of mortality
Formulating Present Value Models (Life Insurance and Life Annuities): Formulating models (stochastic and deterministic) for the present value, with respect to an assumed deterministic interest rate structure, of a set of future contingent cash flows; characteristics of the probability distributions of the times of the cash flows and the present value of the set of cash flows
Obtaining Results from Present Value Models (Benefit Premiums and Benefit Reserves): Associating a pattern of costs with a set of future contingent cash flows; the evolution of liabilities under the cost pattern adopted; applications to insurance, health care, credit risk, environmental risk, consumer behavior, and warranties
Chapter 1 (all sections); 1-2 Weeks
Chapter 2 (all sections); 1-2 Weeks
Chapter 3; 1 Week
Chapter 5; 1-2 Weeks
Chapter 6; 2 Weeks
Chapter 7; 2 Weeks
Chapter 8; 2 Weeks
Chapter 9; 2 Weeks
Homework is not collected.
There will be a quiz during dead week.
Except for the quiz during dead week, quizzes will not usually be announced in advance.
Feb. 14 (tentative) Exam 1
March 29 (tentative) Exam 2
May 10, 1:00-4:00pm, Final Exam (FIRM)
Scores and grades will be posted at Moodle (follow this link).
| Weight | Category of Assignment |
|---|---|
| Quizzes | |
| 20 % | Hour Exam 1 |
| 20 % | Hour Exam 2 |
| Final Examination |
| Percent Range | Grade |
|---|---|
| 97.6 <= X <= 100 | A+ |
| 92.3 <= X < 97.6 | A |
| 90.0 <= X < 92.3 | A- |
| 87.6 <= X < 90.0 | B+ |
| 82.3 <= X < 87.6 | B |
| 80.0 <= X < 82.3 | B- |
| 77.6 <= X < 80.0 | C+ |
| 72.3 <= X < 77.6 | C |
| 70.0 <= X < 72.3 | C- |
| 67.6 <= X < 70.0 | D+ |
| 62.3 <= X < 67.6 | D |
| 60.0 <= X < 62.3 | D- |
| X < 60 | F |
You can use your exam cheat sheet and/or calculator, but no other materials. The quiz will cover all the homework through the previous lecture. Some quizzes may be announced, and some quizzes may be a surprise.
Each quiz is graded out of 4 points. When the quiz is a single problem, here is the Scoring Rubric
4 points: conceptual understanding apparent; consistent notation, with only an occasional error; logical formulation; complete or near-complete solution/response
3 points: conceptual understanding only adequate; careless mathematical errors present (algebra, arithmetic, for example); some logical steps lacking; incomplete solution/response.
2 points: conceptual understanding not adequate; procedural errors; logical or relational steps missing;
poor response or no response to the question posed.
1 points: does not attempt problem or conceptual understanding totally lacking.
0 points: missed the class for an unexcused absence.
Students that can work only the assigned homeworks problems should expect a C in the course; whereas, students that study the material and work more than just the assigned problems will likely earn an A or B.
Questions on exams will often be modifications of homework problems, examples from the textbook, and material presented in class. Some questions will be completely new.
The best way to earn a top grade is to (1) read the material before it is presented in class, (2) attend class and ask questions, (3) work homework after every class, and (4) form a study group to assist learning and homework completion.
Quizzes missed due to a excused absence will not be made up. Instead, the average score from the other quizzes will be used for the missing grade. If all quizzes are missed, the final exam grade will be used for the quiz grade.
Hourly Exams missed due to a excused absence will not be made up. Instead, the grade from the other exam will be used for the missing grade. If both exams are missed due to excused absences, then the final exam grade will be used for the missing grades.
Excused Absence: NCSU policy, including what constitutes an 'Excused Absence,' is covered in REG 02.20.3. An absence will be 'excused' only after documentation of the situation is provided to the instructor. Whenever possible, notify the instructor at least one week in advance of missing class.
The NCSU academic integrity policy is available at this linke: POL11.35.01.
Quizzes & Exams: Students will neither give nor receive any assistance on any quiz, hourly exam, or final exam. This means there is no use of electronic communication devices during exams, no student-to-student interactions, no wondering eyes, etc. Some students may be assigned seats for exams.
Exam cheat sheet: Each student can bring a single page of formulas to Hour Exams. The page cannot have worked problems, only formulas and the name of particular symbols (e.g. 'annuity-due') . The page can be no larger than 8 1/2 x 11 inches, and can have information both sides. A sigle sheet of paper is permitted, not two sheets stapled together. Each student creates their own formula page. You can discuss the formula sheet with other students, but the formula sheets should not be identical. The page will be turned in with exam, and may not be returned (keep a copy).
Any violation of this policy will be reported to the Office of Student Conduct. At the very least, a grade of F for this course will be requested.
Reasonable accommodations will be made for students with verifiable disabilities. In order to take advantage of available accommodations, students must register with Disability Services for Students at 1900 Student Health Center, Campus Box 7509, 515-7653. For more information on NC State's policy on working with students with disabilities, please see the Academic Accommodations for Students with Disabilities Regulation (REG 02.20.1).
Students that require extra time or distraction free testing will be asked to use DSS for this service. The time for exams given at DSS must overlap with the exam time of the class. The exam dates will not change from what is originally posted in this syllabus unless all students in the course agree to the change (unanimous).
There is no physical activity and no field trips associated with this course.
There are no extra expenses related to this course.
There are no field trips for this course.
(revised, as needed)
Last revised 9-jan-12