Fundamentals Of Actuarial Mathematics

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 Actua... » 

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. «