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Actuarial Mathematics for Life Contingent Risks Hardcover – 24 September 2009

4.5 4.5 out of 5 stars 78 ratings
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Cambridge Actuarial Mathematics for Life Contingent Risks Book - Hardback - 19 December 2019
Cambridge Actuarial Mathematics for Life Contingent Risks Book - Hardback - 19 December 2019
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How can actuaries best 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 rigour with intuition, and emphasising 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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  1. Print length
    508 pages
  2. Language
    English
  3. Publisher
    Cambridge University Press
  4. Publication date
    24 September 2009
  5. Dimensions
    15.88 x 3.18 x 24.13 cm
  6. ISBN-10
    0521152461
  7. ISBN-13
    978-0521617109
  8. See all details
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Product description

Review

Endorsement Official reading for SOA Exam MLC in 2012: download free supplementary notes from the Resources tab below

Book Description

Balancing rigour and intuition, and emphasizing applications, this modern text is ideal for university courses and actuarial exam preparation.

Product details

  • ASIN ‏ : ‎ 0521118255
  • Publisher ‏ : ‎ Cambridge University Press (24 September 2009)
  • Language ‏ : ‎ English
  • Hardcover ‏ : ‎ 508 pages
  • ISBN-10 ‏ : ‎ 0521152461
  • ISBN-13 ‏ : ‎ 978-0521617109
  • Dimensions ‏ : ‎ 15.88 x 3.18 x 24.13 cm
  • Customer Reviews:
    4.5 4.5 out of 5 stars 78 ratings

About the authors

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  1. David C. M. Dickson

    David C. M. Dickson

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    David Dickson was born and schooled in Glasgow and received his tertiary education at Heriot-Watt University, Edinburgh, where he also taught from 1985-1992. In 1993 he moved to the University of Melbourne where he is now Professor of Actuarial Studies. David qualified as a Fellow of the Faculty of Actuaries in Scotland in 1987.

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  2. Mary Hardy

    Mary Hardy

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  3. D. C. M. Dickson

    D. C. M. Dickson

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RIZ
5.0 out of 5 stars Libro de alto nivel
Reviewed in Mexico on 27 December 2023
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Muy buen libro para practicar con alto grado de dificultad.
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Bruno Ramos Pio
5.0 out of 5 stars Ótimo livro para estudos
Reviewed in Brazil on 12 September 2019
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Otimo livro para aprender e rever conteudos
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LIUSICHEN
5.0 out of 5 stars Five Stars
Reviewed in Canada on 13 December 2015
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good
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Lizard Man
5.0 out of 5 stars Excellent Treatise, Regardless of Experience Level
Reviewed in the United States on 9 July 2012
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This is an excellent, must-have addition to the library of any aspiring actuary. Topics from elementary survival models through multiple-state models are explained clearly and cogently, with great practice problems at the end of each chapter that challenge the student to think critically based on the material presented in each section.

I would definitely recommend this book for self-study, as the mathematics are clearly developed in each section and the various real-world drawbacks and consequences of particular models are discussed in-depth. None of the math is of the "don't try this at home" level, but obviously you have to be quite comfortable with differential and integral calculus. For the sake of brevity and orderliness, many of the intermediate steps are not shown in the proofs and derivations of formulas, so if you absolutely have to know, it's on you to do the messy algebra work. On the whole, this tends to serve as a very good exercise and will help you to be able to develop the mathematics for yourself; personally I find that one of the most important parts of learning independently is self-reliance and a willingness to think critically, and this book will certainly encourage that.

This is an all-around excellent purchase that you cannot go wrong with. An outstanding treatise on the mathematics used in one of the world's top professional fields.
9 people found this helpful
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Hans
5.0 out of 5 stars Very good book
Reviewed in the United Kingdom on 27 October 2013
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Decent introduction to life insurance. The book include lots of simple examples to help getting you started. At the end of each chapter, there are some more demanding excercices with numerical results. If you want to know the steps in between you'll have to buy the solutions manual.
One person found this helpful
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