Actuarial mathematics for life contingent risks
Author(s)
Bibliographic Information
Actuarial mathematics for life contingent risks
（International series on actuarial science）
Cambridge University Press, 2013, c2009
2nd ed
- : hbk
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Note
Includes bibliographical references and index
"Institute and faculty of Actuaries"--Cover
Description and Table of Contents
Description
Actuarial Mathematics for Life Contingent Risks, 2nd edition, is the sole required text for the Society of Actuaries Exam MLC Fall 2015 and Spring 2016. It covers the entire syllabus for the SOA Exam MLC, including new sections for Spring 2016. It is ideal for university courses and for individuals preparing for professional actuarial examinations - especially the new, long-answer exam questions. Three leaders in actuarial science balance rigor with intuition and emphasize practical applications using computational techniques to provide a modern perspective on life contingencies and equip students for the products and risk structures of the future. The authors then develop a more contemporary outlook, introducing multiple state models, emerging cash flows and embedded options. The 210 exercises provide meaningful practice with both long-answer and multiple choice questions. Furthermore: * the book has been updated to include new material on discrete time Markov processes, on models involving joint lives, and on universal life insurance and participating traditional insurance * the Solutions Manual (ISBN 9781107620261), available for separate purchase, provides detailed solutions to the text's exercises.
Table of Contents
- Preface to the Second Edition
- 1. Introduction to life insurance
- 2. Survival models
- 3. Life tables and selection
- 4. Insurance benefits
- 5. Annuities
- 6. Premium calculation
- 7. Policy values
- 8. Multiple state models
- 9. Joint life and last survivor benefits
- 10. Pension mathematics
- 11. Yield curves and non-diversifiable risk
- 12. Emerging costs for traditional life insurance
- 13. Participating and universal life insurance
- 14. Emerging costs for equity-linked insurance
- 15. Option pricing
- 16. Embedded options
- A. Probability theory
- B. Numerical techniques
- C. Simulation
- D. Tables
- References
- Index.
by "Nielsen BookData"
