Actuarial Mathematics for Life Contingent Risks

International Series on Actuarial Science

by David C.M. Dickson, Mary R. Hardy, Howard R. Waters

The substantially updated third edition of the popular Actuarial Mathematics for Life Contingent Risks is suitable for advanced undergraduate and graduate students of actuarial science, for trainee actuaries preparing for professional actuarial examinations, and for life insurance practitioners who wish to increase or update their technical knowledge. The authors provide intuitive explanations alongside mathematical theory, equipping readers to understand the material in sufficient depth to apply it in real-world situations and to adapt their results in a changing insurance environment. Topics include modern actuarial paradigms, such as multiple state models, cash-flow projection methods and option theory, all of which are required for managing the increasingly complex range of contemporary long-term insurance products. Numerous exam-style questions allow readers to prepare for traditional professional actuarial exams, and extensive use of Excel ensures that readers are ready for modern, Excel-based exams and for the actuarial work environment. The Solutions Manual (ISBN 9781108747615), available for separate purchase, provides detailed solutions to the text's exercises.

Genres: Textbooks

782 pages, Hardcover

First published September 24, 2009

Reviews

[Yehia · Rating 3 out of 5]

What do you want to be when you grow up?

[Sammy Quesenberry · Rating 3 out of 5]

Explanations and examples were good enough to reference for homework. Need the solution guide too

[Alexander · Rating 4 out of 5]

I passed the darned exam so I'm counting this one as 'read'.

[William Schram · Rating 4 out of 5]

An actuary is a professional with advanced mathematical skills who deals with the management of risk and uncertainty. I took that directly from Wikipedia, so while it could be wrong, it sounds correct. I was interested in Actuarial Science since I was in High School. One of my teachers gave me an old booklet containing test questions from an Actuarial Exam. The math was over my head at the time, since I never took probability or statistics to any degree of difficulty.

Actuarial Mathematics For Life Contingent Risks is a textbook. Cambridge published it, so I don't question its quality. The copy I have is in the third edition. The book assumes you know very little since it covers the terms it uses. On the other hand, once it gets to the mathematical chapters, the kid gloves come off and it gets down to business.

The book discusses the mathematics and presents example problems. Following that, the book contains problems for the reader to solve. I could not find a section with any of the answers, but perhaps another book has that.

I enjoyed the book. Thanks for reading my review, and see you next time.

[Sebestyén Máté Attila · Rating 5 out of 5]

The clarity of the text is almost unmatched in the actuarial field. Wonderful book.

[Hayley · Rating 3 out of 5]

So I passed the course and I'm gonna make it as read haha.
To be honest, it is not a bad reference book. The explanation are written quite nicely.