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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.
- Sales Rank: #49397 in Books
- Brand: Brand: Cambridge University Press
- Published on: 2013-08-12
- Original language: English
- Number of items: 1
- Dimensions: 8.98" h x 1.57" w x 5.98" l, 2.40 pounds
- Binding: Hardcover
- 616 pages
- Used Book in Good Condition
Review
Review of the first edition: 'The book is well written, well organized, and easy to read. It may be an excellent textbook for both undergraduate and graduate programs in actuarial science. It is also a rich source of useful information for practitioners of the actuarial profession and financial risk managers who seek a practical and inspiring guide to liability cash flow modeling and valuation.' Scandinavian Actuarial Journal
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).
Mary R. Hardy holds the CIBC Chair in Financial Risk Management at the University of Waterloo, Ontario. She is a Fellow of the UK Institute and Faculty of Actuaries and of the Society of Actuaries, and has won awards and commendations for her research. In 2013 Hardy was awarded the Finlaison Medal of the Institute and Faculty of Actuaries for services to the actuarial profession, in research, teaching and governance.
Howard R. Waters is Professor in the Department of Actuarial Mathematics and Statistics at Heriot-Watt University, Edinburgh. He is a Fellow of the Institute and Faculty of Actuaries, by whom he was awarded the Finlaison Medal for services to the actuarial profession in 2006.
Most helpful customer reviews
2 of 2 people found the following review helpful.
this textbook was so well written that I had to come on here and give it a good review. I have no problem reading and comprehend
By Derek Dixon
I'm normally a lecture guy, would much rather listen to someone explain a concept than read it out of a book. However, this textbook was so well written that I had to come on here and give it a good review. I have no problem reading and comprehending the material in this textbook soley because of its intuitive prose and plain language approach. Also, the historical background it gives that set up a real framework for the concepts is a huge plus. I actually feel like I'm learning something useful and with real application, rather than just chugging through formulas for their own sake.
0 of 7 people found the following review helpful.
excellent!
By BIAN XIAOMIN
Really a new book, excellent!
0 of 7 people found the following review helpful.
Three Stars
By Fred Teichman
Nephew used in school
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