Actuarial Mathematics for Life Contingent Risks (International Series on Actuarial Science)

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9780521118255: Actuarial Mathematics for Life Contingent Risks (International Series on Actuarial Science)
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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.

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Book Description:

A modern perspective on life contingencies that uses the powerful framework of multiple state models to develop and demonstrate a theory that can be adapted to changing products and technologies. Balancing rigor and intuition, and emphasizing applications, this modern text is ideal for university courses and actuarial exam preparation.

About the Author:

David C. M. Dickson is Professor of Actuarial Studies in the Department of Economics at the University of Melbourne. He has twice been awarded the H. M. Jackson Prize of the Institute of Actuaries of Australia, most recently for his book Insurance Risk and Ruin (Cambridge University Press, 2005).

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9781107044074: Actuarial Mathematics for Life Contingent Risks (International Series on Actuarial Science)

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9780470455791: Actuarial Mathematics (Wiley Finance)

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