Simon Fraser University
Engaging the World

Course Outlines

Fall 2025 - RISK 311 D100

Fundamentals of Long-Term Actuarial Mathematics (3)

Class Number: 7295

Delivery Method: In Person

Overview

  • Course Times + Location:

    Sep 3 – Dec 2, 2025: Mon, 10:30–11:20 a.m.
    Burnaby

    Sep 3 – Dec 2, 2025: Thu, 10:30 a.m.–12:20 p.m.
    Burnaby

  • Exam Times + Location:

    Dec 4, 2025
    Thu, 8:30–11:30 a.m.
    Burnaby

  • Prerequisites:

    One of RISK (or ACMA) 101 or RISK 102, and all of RISK (or ACMA) 201, RISK (or ACMA) 231 and STAT 270, all with a minimum grade of C.

Description

CALENDAR DESCRIPTION:

Basic survival models, life tables. Basic life insurance and annuities: present value random variables, premium calculations, policy values. Computer applications for pricing and reserving for life insurance portfolios. Students with credit for ACMA 301 or ACMA 320 may not take this course for further credit. Quantitative.

COURSE DETAILS:

Outline

The topics covered correspond to part of Exam LTAM of the Society of Actuaries (www.soa.org), and they include

1.       Introduction to life insurance
2.       Survival models
3.       Life tables and selection
4.       Net single premiums for life insurance contracts
5.       Life annuities
6.       Premiums
7.       Policy values

This course is part of the University Accreditation Program and meets specific requirements set by the Canadian Institute of Actuaries (CIA). Please consult the CIA website for full details on CIA accreditation.

Grading

  • Presentations 5%
  • Weekly Quizzes 40%
  • In-Class Exercises 10%
  • Final Exam 45%

NOTES:

Above grading is subject to change.

Materials

REQUIRED READING:

Actuarial Mathematics for Life Contingent Risks, 3rd ed. by Dickson, Hardy & Waters.; Publisher: Cambridge University Press (Chapters 1–7)

REQUIRED READING NOTES:

Your personalized Course Material list, including digital and physical textbooks, are available through the SFU Bookstore website by simply entering your Computing ID at: shop.sfu.ca/course-materials/my-personalized-course-materials.

Registrar Notes:

ACADEMIC INTEGRITY: YOUR WORK, YOUR SUCCESS

At SFU, you are expected to act honestly and responsibly in all your academic work. Cheating, plagiarism, or any other form of academic dishonesty harms your own learning, undermines the efforts of your classmates who pursue their studies honestly, and goes against the core values of the university.

To learn more about the academic disciplinary process and relevant academic supports, visit: 


RELIGIOUS ACCOMMODATION

Students with a faith background who may need accommodations during the term are encouraged to assess their needs as soon as possible and review the Multifaith religious accommodations website. The page outlines ways they begin working toward an accommodation and ensure solutions can be reached in a timely fashion.