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International Series on Actuarial Science
Actuarial Mathematics for Life Contingent Risks
Selected as official reading for SOA Exam MLC in 2012: download free supplementary notes from the Resources tab below.
How can actuaries equip themselves for the products and risk structures of the future? Using the powerful framework of multiple state models, three leaders in actuarial science give a modern perspective on life contingencies, and develop and demonstrate a theory that can be adapted to changing products and technologies. The book begins traditionally, covering actuarial models and theory, and emphasizing practical applications using computational techniques. The authors then develop a more contemporary outlook, introducing multiple state models, emerging cash flows and embedded options. Using spreadsheet-style software, the book presents large-scale, realistic examples. Over 150 exercises and solutions teach skills in simulation and projection through computational practice. Balancing rigor with intuition, and emphasizing applications, this text is ideal for university courses, but also for individuals preparing for professional actuarial exams and qualified actuaries wishing to freshen up their skills.
How can actuaries equip themselves for the products and risk structures of the future? Using the powerful framework of multiple state models, three leaders in actuarial science give a modern perspective on life contingencies, and develop and demonstrate a theory that can be adapted to changing products and technologies. The book begins traditionally, covering actuarial models and theory, and emphasizing practical applications using computational techniques. The authors then develop a more contemporary outlook, introducing multiple state models, emerging cash flows and embedded options. Using spreadsheet-style software, the book presents large-scale, realistic examples. Over 150 exercises and solutions teach skills in simulation and projection through computational practice. Balancing rigor with intuition, and emphasizing applications, this text is ideal for university courses, but also for individuals preparing for professional actuarial exams and qualified actuaries wishing to freshen up their skills.
- GenresTextbooks
508 pages, Hardcover
First published September 24, 2009
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Displaying 1 - 5 of 5 reviews
October 29, 2023
What do you want to be when you grow up?
December 1, 2020
Explanations and examples were good enough to reference for homework. Need the solution guide too
January 29, 2015
I passed the darned exam so I'm counting this one as 'read'.
November 8, 2024
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.
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.
August 4, 2015
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.
To be honest, it is not a bad reference book. The explanation are written quite nicely.
Displaying 1 - 5 of 5 reviews