> VXU .bjbjVV .D<<&%11111EEE8}4$E>"
2>4>4>4>4>4>4>$?MBjX>1X>11
m>1
1
2>2>/60
uE/>>0>/BB(6060`B1<N
X>X>>B : G
I would like to outline a project regarding production of a textbook on Mathematics for Actuarial Students.
In Brief:
At present there is not a single textbook on Mathematics that meets the needs of actuarial students. We have the syllabus, we have the Foundation Course produced by the Institute of Actuaries, London, we have their recommended book which is totally inadequate, we have their guidance as to the application of the mathematical techniques to various topics in Actuarial science, we have their specimen papers showing the mathematical Standard expected.
Earlier there used to be an Entrance examination in Mathematics which would filter and weed out. It acted as a Stop Loss. This has been abolished with the result that the failure rate is very high and students waste their precious years. India alone has over 10,000 student members. Out of these less than 10 become Fellows of the Institute of Actuaries of India every year. My close interaction with the students makes me conclude that the principle reason for the high failure rate is the lack of required knowledge of mathematics.
In India and perhaps elsewhere also, the students have to resort to selfstudy. Hence a comprehensive textbook  from the most elementary to the most advanced level  is the need of the hour. The level of mathematics that students coming to actuarial science would have would be little lower than A Level. Since the textbook would be for selfstudy purposes, plenty of examples/exercises with solutions is a must. Further examples can be drawn from actuarial science topics as well. We can make full use of the guidance referred to earlier.
The textbook can be printed in India. (India now has International quality Printers.) World over, there are 50000 students pursuing actuarial career. Hence the book should prove a great success. Actuarial syllabus is also now worldwide.
Further thoughts in respect of the various aspects of the Project:
The style to be followed will be the STATSPACK style. The Institute has produced the STATSPACK. This is a unique Pack. The style followed thereat is informal, chatty, and studentfriendly. I have read the STATSPACK word by word and am greatly impressed and have benefited.
The book will run into roughly 3000 A4 printed pages + 1500 pages of exercises and their solutions. (With a resource such as this running into 4500 pages, we are no longer talking about a textbook but rather a complete course, especially since it is to include material similar to ActED/BPP courses on CT1 to CT8 and the FACPACK and the STATSPACK).
The price for the exclusive Indian Edition will be Indian Rs.3000/.
There is no prescribed Syllabus. But roughly the knowledge required is slightly more than that required for the Mathematics Higher Level Course of the International Baccalaureate (IB).
Some really good books have been produced for IB by the Oxford/Cambridge University Press as also by the IBID Press, Australia. IBID Press has gone further and produced Solutions also to all the Exercises in their book Mathematics Higher Level (Core).
Our aim is to produce a Selfstudy Manual. The student intending to take up the actuarial course would be presumed to have studied up to the 10th Standard (Government Certificate School Examination of the U.K.). Our Course would take the student from the elementary level to the required advanced level. It is not designed to be a refresher course for students who have met the materialbefore but a course to lead students through the material from scratch.
7. The writer of the course would have before him at least
(i) the IB Textbooks of the Oxford/Cambridge University Press as also of IBID Press at the Standard Level as also the Advanced Level;
(ii) the A Level Textbooks of the above;
the books earlier prescribed by the Institute of Actuaries like Hall &
Knight Advanced Algebra; Bernard and Child Algebra; Durrell &
Robson Algebra & Calculus; Stanley Thornes Pure Mathematics 1 &
2 ; Applied Mathematics 1 & 2; Core Mathematics for ALevel;
(iv) the Institutes Examination Papers from the year 1935 to 1985 and Actuarial Society of Indias Papers up to the year 1995 (material to be supplied from here, if necessary);
(vi)Harry Freemans Mathematics for Actuarial Students Part 1 & 2;
ActED/BPP courses on CT1 to CT8 and the FACPACK and the STATSPACK.
The reference to Examination Papers andseveral other books above will influence the contents and style and would be a test for completeness of our course book, otherwise we are not interested in copying them. Will the student who has faithfully gone through our course book be able to face/tackle the 200 questions on Calculus contained in these papers. Similarly will he feel comfortable with the questions on Calculus contained in the Pure Mathematics book. We are not trying to copy or trample upon anybody's copyright or material. We are developing our own material. It will not be a cutandpaste job. I hope this puts the matter into proper perspective.
The higher level books roughly cover our syllabus. All the above
books, like the proverbial egg, are good in parts.
8. The author(s) would assume that the student using the book is good at Mathematics, is keen on taking up actuarial career but has background of Mathematics at a level which is lower than A level. He is looking forward to a book which takes him from the most elementary level to the most advanced level and that the book would lay a solid foundation for him for further actuarial examinations. To start with, it would be necessary to produce a brief summary of what the student has learnt (or presumed to have learnt) that far. (The standard assumed is little lower than A level). This summary may run into say, 50 pages. Thereafter, the topics can be built up from the most elementary to the most advanced that is, up to the level expected to be reached. Here most of the material can follow standard books. Material on certain additional topics, perhaps 45 (like Dimensional Analysisthe Foundation Course of the Institute just deals with the topic casually in one page) would have to be prepared. This, however, should not be difficult to prepare. Since the course is for students taking up actuarial career, it will have a HEAVY bias of actuarial environment. For example, even the first Chapter may have an example or exercise saying, prove: (1v) =iv, where v=1/(1+i).
9. The course will have 3 additional chapters.  the first chapter detailing the standard assumed and its summary and the last 2 chapters actuarial concepts and actuarial methods. All the mathematics required for subjects CT1 to CT8 would find place in our course book. For example, if x is replaced by ax + b, the resulting mean and variance have nothing to do with statistics. Like that every single concept enunciated in the subjects CT1 to CT8 would be fully covered. Thus when the student comes to these, he is an absolute sitter so far as the mathematical aspects are concerned.
10. It is said about the Indian Epic Mahabharata that what is in it is everywhere, what
is not in it is no where. Our course also should be enough comprehensive.
11. The peripheral Chapters the first chapter regarding the level of knowledge assumed and summarizing what the student has learned that far and the last but one chapter giving the Glossary of all the actuarial concepts covered in the course and the last chapter covering Actuarial Methods would need some attention. Also whether Computational Mathematics should find some place would need to be considered. In other words, excepting these 3 chapters all the other chapters will follow Pure Mathematics Books like Mathematics Higher Level Core with the STATSPACK style.
I have given an indication of the scope visualized, of the model I have in mind. However, if you have any questions/suggestions/advice, please let me know. If we start examining the various aspects of the project now itself, we may be able to start it by September and complete it in 6 months time. It would be our responsibility to do a fine job and at every step to get involved.
I would be grateful for a considered response.
Personal Agenda
Being a son of an orthodox teacher and with high religious background (see my website: HYPERLINK "http://www.parikhparivar.com" www.parikhparivar.com parivar means family), I felt that the time has come to repay my debt to the actuarial profession. It is my PERSONAL wish that I encourage right students to pursue the actuarial career in India. India has 200 actuaries whereas the need is for 6000 (and according to the Casualty Actuarial Society, 12000) actuaries. However, the failure rate is appalling. A foundation book in mathematics has to be produced and if the student feels confident, then alone he should go for the actuarial career. India is a vast country. Hence a campaign has to be launched  whether you would like your child to become an actuary  prospects and pitfalls  emphasising the high mathematical standard required. My idea is to give freshers a copy of the book on a refundable basis  if they clear 2 subjects of actuarial examinations within 2 years, full cost of the books would be refunded to them and they can keep the books. The cost of realizing this wish will be borne by my family. The proposal is in the nature of businesscumservice to students in helping them build their career. At the starting stage itself, it would help them decide whether the actuarial career is meant for them or not. The scope outlined above is indicative and may be given a final shape after discussions. The proposal has to go through with every ones active involvement.
(N. K. PARIKH)
PAGE
PAGE 4
$LN]^ghopqrs{} ? H
B
C
D
E
78CDMQde~bcd
t
u
ٶh9hm]hI7hBeh(:hfNhXhfNh#hDHhqhH1h(:hau>*h5hXh~hhauhkFrs}D
E
cd~685
&Fgd(:$
&Fa$gdDH$
&Fa$gd(:gd(:$a$gdI7$a$gd9$a$gdm]gdH1$a$gdH1gd9
Kg*+P]hn~!$<Wlp:;23468pwqƾ鷯鷔hLh(:5hXh(:H*h#h%rh(:5hXhfNhfNhLhXh(:hrhr>* h(:>*hrh(:>*hXhI7hI7hXhShSh(:h3hH1h9hXh~75B<#cTvqgd5$^a$gd1K$
&Fa$gdL$
D^D`a$gd(:$
0^`0a$gdL$
D8^8a$gd1K$
&F
Da$gd1K$
0^`0a$gd(:$h^ha$gd(:$
&Fa$gd(:
BF_fx#HO#(act457rx34
>@NXYZٿ䫤蠜hrh5hfNhXhfNhqhkhXhL h1K5 hL5h^h5h^hEo
h^h1Kh^hLhDHh1KhLh#hXh(:PJhXh(:9T!#D$$&d(((..........$a$gd&hgd(:$h^ha$gd(:$^`a$gd(:$^`a$gdr$^`a$gd&h$^a$gd1Kgh !!""v#w#{####C$K$$$$$%%p&v&&&&&&&&&''Q(W(b(c(d(e(~((((ƺ泥h9hXh~h(:hEo
hf)hDhQ.h5h\hrhrh%rhXhrhrhXh(:h3h&hhkhXh&h
hrPJ=((((()*)+)@)A)))****++++++++,,,,,,...#.%.2.E.F.d.j.v.............ɽ嵱쩢hOjhOUh9hak>hak>h%rh'h?Yhkh&hhQh{nh\hXh90JB*phjhXh9UhXh9h9h9hqh9h9>*:...........gd(:h]hgdhP&`#$gdhP
...............h9hak>hOhBe0JmHnHuhQ.
hQ.0JjhQ.0JU,1h/ =!"#$%^2 0@P`p2( 0@P`p 0@P`p 0@P`p 0@P`p 0@P`p 0@P`p8XV~_HGmH nH sH tH @`@fNNormalCJ_HaJmH sH tH DA`DDefault Paragraph FontRiRTable Normal4
l4a(k (No List4U@4r7A Hyperlink >*phB^B}
ANormal (Web)dd[$\$*W*aStrong5\.X!.Emphasis6]4 @24hPFooter
!.)@A.hPPage Number4R4H1Header
!PK![Content_Types].xmlj0Eжr(Iw},j4 wPt#bΙ{UTU^hd}㨫)*1P' ^W0)T9<l#$yi};~@(Hu*Dנz/0ǰ$X3aZ,D0j~3߶b~i>3\`?/[G\!Rk.sԻ..a濭?PK!֧6_rels/.relsj0}Q%v/C/}(h"O
= C?hv=Ʌ%[xp{۵_Pѣ<1H0ORBdJE4b$q_6LR7`0̞O,En7Lib/SeеPK!kytheme/theme/themeManager.xmlM
@}w7c(EbˮCAǠҟ7՛K
Y,
e.,H,lxɴIsQ}#Ր ֵ+!,^$j=GW)E+&
8PK!Ptheme/theme/theme1.xmlYOo6w toc'vuرMniP@I}úama[إ4:lЯGRX^6؊>$!)O^rC$y@/yH*)UDb`}"qۋJחX^)I`nEp)liV[]1M<OP6r=zgbIguSebORD۫qu gZo~ٺlAplxpT0+[}`jzAV2Fi@qv֬5\ʜ̭NleXdsjcs7f
W+Ն7`gȘJjh(KD
dXiJ؇(x$(:;˹!I_TS1?E??ZBΪmU/?~xY'y5g&/ɋ>GMGeD3Vq%'#q$8K)fw9:ĵ
x}rxwr:\TZaG*y8IjbRcXŻǿI
u3KGnD1NIBs
RuK>V.EL+M2#'fi~Vvl{u8zH
*:(W☕
~JTe\O*tHGHY}KNP*ݾ˦TѼ9/#A7qZ$*c?qUnwN%Oi4=3ڗP
1Pm\\9Mؓ2aD];Yt\[x]}Wr]g
eW
)6rCSj
id DЇAΜIqbJ#x꺃6k#ASh&ʌt(Q%p%m&]caSl=X\P1Mh9MVdDAaVB[݈fJíP8քAV^f
Hn"d>znǊ ة>b&2vKyϼD:,AGm\nziÙ.uχYC6OMf3or$5NHT[XF64T,ќM0E)`#5XY`פ;%1U٥m;R>QDDcpU'&LE/pm%]8firS4d7y\`JnίIR3U~7+#mqBiDi*L69mY&iHE=(K&N!V.KeLDĕ{D vEꦚdeNƟe(MN9ߜR6&3(a/DUz<{ˊYȳV)9Z[4^n5!J?Q3eBoCMm<.vpIYfZY_p[=alY}Nc͙ŋ4vfavl'SA8*u{ߟ0%M07%<ҍPK!
ѐ'theme/theme/_rels/themeManager.xml.relsM
0wooӺ&݈Э5
6?$Q
,.aic21h:qm@RN;d`o7gK(M&$R(.1r'JЊT8V"AȻHu}$b{P8g/]QAsم(#L[PK![Content_Types].xmlPK!֧6+_rels/.relsPK!kytheme/theme/themeManager.xmlPK!Ptheme/theme/theme1.xmlPK!
ѐ' theme/theme/_rels/themeManager.xml.relsPK]
&
D $$$'
(..!5T.. *!@!&X '!!8@0(
B
S ?!5=a!6=a$!7=a4F8=aE9=aE:=a+;=a+<=ad+==a>=ȁ?=a@=a4vA=auB=auC=aD=aE=aF=aeG=aeH=aleI=aJ=aK=a;L=aT#M=adN=a`O=a$P=aWQ=aR=aDS=aT=adU=atv(5@@gg
_ff$"" " "8#8#&
1>FFll
eoo """"=#=#&
9*urn:schemasmicrosoftcom:office:smarttagsplaceB*urn:schemasmicrosoftcom:office:smarttagscountryregion8*urn:schemasmicrosoftcom:office:smarttagsCity=!*urn:schemasmicrosoftcom:office:smarttags PlaceType= *urn:schemasmicrosoftcom:office:smarttags PlaceName! ! ! CD#D!K!##$$&&&&&&&&&&&dFI24=Z_NOKM&&&&&&&&&&&333333333333333s8MQe
pvc d &&&&&&&&&&&&&&MQv~&&&&&&&&&&&&&&1 ^9 x>dbQErxQq`pO :F T =JmD]'sy]4w_.$Jhr%}%awj/Y4)&
{KddJT x]_ x]KddWk~Jhr8q~)?$_ly!0_@36 <\#dd Zz
ze'.
ATlkddXJhrSVEq7NQmX7NPZ7NoZ8"Yq2<\#ddZHZO\ x]PG&Jhr__mhZPG1Vjv1)ddZSZ <\#ddd6<U
VE\ x]0_,c%mwB x]N2dda}7N<\#fe{#VE#6<NW$ x]t$VE
!%'sye&%=JmDze'=JmDKddd"'Zj'PG/Y4))&u0dd~)w_.Kddp+=JmDc'x, x]E%/Y4)GX6<w_.:}#/
z_z80v1dd&u0N%tudd(1'^~1Wlof26<@3&
Kdd3@4JhrBO4w_.4Wlo56<76%v7Z8VE=F9 x]gN?:ZY'I;%z; x]}m;&
,DN< x]`\<%Tgv7[5?j)?ze'V$@ x]=JmDW?Ej[E%VE'syKddFzGPG$xG6<YgPHJhrTHY1idduH~)SI=JmDM)J<\#ddsXGJaDK"YqnK'sy?qN_ypwN\udd7N/Y4)Kdd~OPGCTQ/Y4)oUyQ=JmDaRze'ZeUWlo$VaC&}W0_+MXM)JddlXj\YWlokZ x]4^O]Jhr x]'^
dj^{9B_a
z_0_'^Kdd3``_Xa/Y4)!Lrc~){vc/Y4)Gc x]E#Idze'Lld x]
)e&
@gf&
Wg&
]h=JmDY1i<\#dd2iWloNMijjJhrKddATlk.pdd;Yk{@lZRFo=JmDWlo
z_Kdd.pNdd#q~)"YqZG]q6 dd3(+r=JmDJhromBs&
ns/Y4)+sze'/%ta\uz80dd*u~)N%tu<\#ddPv&
w&
w%T\w7N'syvyZzHz dd{/Q
0_%ZKddn}VE%}~)Z}_\[lEo
9Sau`9af)Q.H13[Z3I7(:ak>}
Ar7ASADEDHhPV[\&hl0m{npq`{q%r9lyY{sFm]SV*}A~3lkmqsD9
OrI `1Kve>^kOD#5b:X?Yq
8P2vsG'L&<,fN>EjQBe~j_2sz[&&@



&P@UnknownG* Times New Roman5Symbol3.* ArialACambria Math"qhkl] F F!24&&3QHX ?r7A2!xxDear Mr Parikh,ParikhN.K. Parikh(Oh+'0
@LX
dpxDear Mr Parikh,ParikhNormal.dotmN.K. Parikh3Microsoft Office Word@G@Z^@o_@T2 ՜.+,D՜.+,<hp
F&Dear Mr Parikh,Title 8@_PID_HLINKSAtJhttp://www.parikhparivar.com/
!"$%&'()*+,./0123456789:;<=>?@ABCDFGHIJKLNOPQRSTWRoot Entry FсY1Table#BWordDocument.DSummaryInformation(EDocumentSummaryInformation8MCompObjy
F'Microsoft Office Word 972003 Document
MSWordDocWord.Document.89q