Models for Quantifying Risk

The Fourth Edition has been designed to meet and expand content of SOA Exam MLC, to be effective with the May 2012 exam administration. This textbook presents a variety of stochastic models for the actuary to use in undertaking the analysis of risk. It is designed to be appropriate for use in a two or three semester university course in basic actuarial science. It was also written with SOA Exam MLC and CAS Exam 3L in mind. Models are evaluated in a generic form with life contingencies included as one of many applications of the science. Students will find this book to be a valuable reference due to its easy-to-understand explanations and end-of-chapter exercises.