Fundamentals of Actuarial Mathematics
(Sprache: Englisch)
The book is an introduction to actuarial mathematics and will cover the material on the modeling examinations of the Society of Actuaries and the Casualty Actuarial Society (SOA exam M and CSA exam 3). The text is unique with heavy emphasis on the...
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The book is an introduction to actuarial mathematics and will cover the material on the modeling examinations of the Society of Actuaries and the Casualty Actuarial Society (SOA exam M and CSA exam 3). The text is unique with heavy emphasis on the deterministic methods and combines interest theory and life contingencies in a unified manner. It included a complete treatment of multiple decrement theory: first covering the basic ideas in the deterministic case in the associated single decrement tables, and later returning to discuss multiple decrement theory when dealing with the stochastic model. Fractional durations are covered by beginning with a strictly annual model, and introducing premium and reserve calculations in that framework and then covering the fractional duration consideration in a separate chapter.
Actuarial work is the application of mathematics and statistics to the analysis of financial problems in life insurance, pensions, general insurance and investments. This unique introduction to the topic employs both a deterministic and stochastic treatment of the subject. It combines interest theory and life contingencies in a unified manner as well as covering basic risk theory. Fundamentals of Actuarial Mathematics presents the concepts in an original, accessible style, assuming a minimal formal background.
- Provides a complete review of necessary probability theory.
- Covers the Society of Actuaries' syllabus on Actuarial Models.
- Orders the topics specifically to facilitate learning, beginning with the simplest case of the deterministic discrete model, and then moving to the more complicated stochastic, continuous models.
- Employs modern calculation and computing techniques, such as spreadsheets.
- Contains a variety of exercises, both computational and theoretical.
- Supported by a website featuring exercises and further examples.
- Written by a highly respected academic with over 35 years teaching experience.
This book will be invaluable to senior undergraduate and graduate students, as well as actuarial professionals working in the life insurance or pension fields. Applied mathematicians and economists will also benefit greatly from the clear presentation and numerous examples.
- Provides a complete review of necessary probability theory.
- Covers the Society of Actuaries' syllabus on Actuarial Models.
- Orders the topics specifically to facilitate learning, beginning with the simplest case of the deterministic discrete model, and then moving to the more complicated stochastic, continuous models.
- Employs modern calculation and computing techniques, such as spreadsheets.
- Contains a variety of exercises, both computational and theoretical.
- Supported by a website featuring exercises and further examples.
- Written by a highly respected academic with over 35 years teaching experience.
This book will be invaluable to senior undergraduate and graduate students, as well as actuarial professionals working in the life insurance or pension fields. Applied mathematicians and economists will also benefit greatly from the clear presentation and numerous examples.
Inhaltsverzeichnis zu „Fundamentals of Actuarial Mathematics “
Preface.Notation index.
PART I: THE DETERMINISTIC MODEL.
1. Introduction and motivation.
2. The basic deterministic model.
Exercises.
3. The life table.
Exercises.
4. Life annuities.
Exercises.
5. Life insurance.
Exercises.
6. Insurance and annuity reserves.
Exercises.
7. Fractional durations.
Exercises.
8. Continuous payments.
Exercises.
9. Select mortality.
Exercises.
10. Multiple-life contracts.
Exercises.
11. Multiple-decrement theory.
Exercises.
12. Expenses.
Exercises.
PART II: THE STOCHASTIC MODEL.
13. Survival distributions and failure times.
Exercises.
14. The stochastic approach to insurance and annuities.
Exercises.
15. Simplifications under constant benefit contracts.
Exercises.
16. The minimum failure time.
Exercises.
PART III: RISK THEORY.
17. Compound distributions.
Exercises.
18. An introduction to stochastic processes.
Exercises.
19. Poisson processes.
Exercises.
20. Ruin models.
Exercises.
Appendix: A review of probability theory.
Answers to exercises.
References.
Index.
Autoren-Porträt von S. D. Promislow
S. David Promislow, Professor Emeritus, Department of Mathematics and Statistics, York University, Toronto, Canada.
Bibliographische Angaben
- Autor: S. D. Promislow
- 2005, 424 Seiten, Maße: 24,5 cm, Gebunden, Englisch
- Verlag: Wiley & Sons
- ISBN-10: 0470016892
- ISBN-13: 9780470016893
Sprache:
Englisch
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