FOUNDATION ACTED COURSE (FAC)

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FOUNDATION ACTED COURSE (FAC) What is the Foudatio ActEd Course (FAC)? FAC is desiged to help studets improve their mathematical skills i preparatio for the Core Techical subjects.

1 FOUNDATION ACTED COURSE (FAC) What is the Foudatio ActEd Course (FAC)? FAC is desiged to help studets improve their mathematical skills i preparatio for the Core Techical subjects. It is a referece documet to which studets ca refer whe they eed help o a particular topic. Each chapter cotais explaatory otes, examples ad self-assessmet questios to test uderstadig. There is also a Summary Test ad a Questio ad Aswer Bak providig extra practice for studets. Why purchase FAC? The Istitute ad Faculty produce guidace o the mathematics skills required by studets joiig the professio. FAC reflects this guidace ad therefore comprehesively covers all the mathematics required for the Core Techical subjects. Ulike other mathematical textbooks it is geared specifically towards actuarial studets. Which topics does FAC cover? FAC covers the mathematical material eeded as the backgroud for Subjects CT1, CT3 to CT6 ad Subject CT8. May of the topics covered are beyod the scope of A-Level or Higher Level syllabuses. The topics covered by FAC iclude the otatio ad covetios used i fiacial ad actuarial mathematics, differetiatio ad itegratio techiques, complex umbers ad algebra, icludig summatio of series ad biomial expasios. The full Syllabus for FAC ad a sample of the Course Notes are available o our website at Which studets will beefit from FAC? Studets with umerate degrees ad a good memory of the topics covered i A-Level or Higher Level mathematics may ot eed to purchase this course. May other studets (particularly those with less umerate degrees) will beefit greatly from the study material ad the practice questios provided by FAC. We have writte a short test (available o the website) to help employers assess whether or ot a studet would beefit from FAC. There are 18 questios, typical of problems that will be ecoutered i the cotext of the actuarial exams ad which are covered i detail i the course. Studets should attempt the test without referece to a textbook ad which should take aroud 60 miutes to complete. Full solutios are provided i the attached documet. This year we will be givig all ew studets free access to a Olie Classroom to supplemet FAC. Access will be grated followig their first purchase of a Combied Materials Pack or FAC. How much does FAC cost? The Foudatio ActEd Course costs 55. It ca be ordered usig the attached applicatio form, or idividual studets ca order from the estore at

2 The Actuarial Educatio Compay o behalf of the Istitute ad Faculty of Actuaries FAC iitial assessmet solutios These are the solutios to the FAC iitial assessmet. If you did t aswer the questios correctly, there are refereces to the topics i the FAC Olie Classroom or Course Notes that you could study i order to improve your mathematical kowledge. 1. 8l(1 i ) or l(1 i ) 8 FAC Chapter referece (1 x) 1 (1 x) l(1 x) (1 x)[l(1 x)] 2 Differetiatio 3. x1 t x t e dt Stadard fuctios () 0 4. x or x a(1 r ) 1 r y x 2y e ( x2 y) (4x2 y)lxy y Differetiatio Numerical methods x l Itegratio x x 1x 2! 3! Itegratio Numerical methods ,928 Itegratio 13. i1 x 14. exp i i 1 Differetiatio x i

3 The Actuarial Educatio Compay o behalf of the Istitute ad Faculty of Actuaries 1 4 t 4 ce 15. r ce t Itegratio Numerical methods ab. 0 Vectors ad matrices The eigevalues are 3 ad 11 Vectors ad matrices

4 STATS PACK 2014 EXAMS What is Stats Pack ad which studets will beefit? Stats Pack is desiged to help studets who: have t studied statistics before studied statistics a log time ago, or are strugglig with the study of Subject CT3. There are twelve chapters, each of which cotais explaatory otes, examples ad selfassessmet questios to test uderstadig as well as extra practice questios for cosolidatio. As well as course otes, studets have access to the Stats Pack olie classroom, comprisig more tha 60 uits of tuitio ad other olie support. Stats Pack has bee desiged to dip ito whe eeded, but it ca also be used as a complete course to be worked through from start to fiish. Why purchase Stats Pack? The Subject CT3 otes cover all the material required for the Subject CT3 exam but some studets ca fid the speed of CT3 too demadig. Stats Pack eables studets to cover the fudametal ideas of statistics at a slower speed. Ulike other statistical textbooks it is geared specifically towards actuarial studets. Which topics does the Stats Pack cover? Stats Pack covers the ideas i Subject CT3 Chapters 1, 2, 3 ad 4, as well as providig a itroductio to Chapter 13. The topics iclude statistical diagrams averages ad measures of spread probability radom variables ad statistical distributios regressio ad correlatio. A sample of the Course Notes is available o our website at How much does Stats Pack cost? Stats Pack costs 60. It ca be ordered usig the attached applicatio form or idividual studets ca order from the estore at If you would like ay further details about Stats Pack, please cotact Joh Lee o or JohLee@bpp.com.

5 STATS REFRESHER TUTORIAL 2014 EXAMS What is the Stats Refresher Tutorial? ActEd tutors have oticed that studets with a Subject CT3 (Statistics) exemptio are fidig it icreasigly difficult to cope with the statistical ature of the topics covered i Subjects CT4 ad CT6 i particular (but geerally i may of the CT subjects). This might be because studets studied the relevat material a umber of years ago or because their degree course did ot iclude all of the material ow covered by the Subject CT3 Core Readig. The Stats Refresher Tutorial is desiged to bridge the gap betwee their previous studies ad the early actuarial subjects ad as a result to give studets with a exemptio i Subject CT3 a flyig start i Subjects CT4 ad CT6. The tutorial is olie which meas that studets ca work through at a time ad pace coveiet to them. The tutorial cosists of a discussio of the theory required followed by worked examples. Studets ca pause the tutorial to work through these examples themselves to aid the learig process. The tutorial allows studets to skip betwee differet topics so that they ca prioritise which areas they wat to work o first. This feature also allows studets to study the tutorial i differet sittigs sice they ca just re-start the tutorial at the appropriate poit. What is the course cotet? The course provides a remider of all the topics i Subject CT3 that are ecessary for the study of Subjects CT4 ad CT6 ad therefore eables studets to make quicker progress with their curret studies. Topics that will be covered i this tutorial iclude: coditioal probability mea, variace ad skewess compoud distributios method of momets estimatio geeratig fuctios chi square testig maximum likelihood estimatio logormal distributio How much does it cost? The price of the olie tutorial is 25 (+VAT) per studet. How ca the Stats Refresher Tutorial be ordered? It ca be ordered usig the attached order form or idividual studets ca order from the estore at uder orderig electroic products.

6 New studet applicatio form 2014 Exams Employer cotact details Name ad address of employer: Postcode: Employer cotact ame: Telephoe: Employer address: Foudatio ActEd Course Please supply copies of the Foudatio ActEd Course. The cost is 55 per copy. Stats Pack Please supply copies of the Stats Pack at 60 per copy. Stats Refresher Please supply copies of the olie Stats Refresher Course at 25 (+ VAT) per copy. O a separate piece of paper please provide the ame ad work address of each studet for whom copies of the courses have bee purchased. Ivoicig ad paymet You will be ivoiced by IFE Ltd i the usual way after we have received your applicatio. Please post or fax this applicatio form to: The Actuarial Educatio Compay is registered at BPP House, 142/144 Uxbridge Road, Lodo W12 8AA, with registered umber The Actuarial Educatio Compay (ActEd) is a subsidiary of BPP Actuarial Educatio Limited ad is a member of the BPP professioal educatio group. ActEd is cotracted to educate studets o behalf of Istitute ad Faculty Educatio Ltd, a subsidiary of the Istitute ad Faculty of Actuaries.

Chapter 8: Estimation of Mean & Proportion. Introduction

Chapter 8: Estimation of Mean & Proportion. Introduction Chapter 8: Estimatio of Mea & Proportio 8.1 Estimatio, Poit Estimate, ad Iterval Estimate 8.2 Estimatio of a Populatio Mea: σ Kow 8.3 Estimatio of a Populatio Mea: σ Not Kow 8.4 Estimatio of a Populatio