Actuarial Mathematics for Life Contingent Risks 2nd edition is the sole required text for the Society of Actuaries Exam MLC Fall 2015 & Spring 2016 It covers the entire syllabus for the SOA Exam MLC including new sections for Spring 2016 It is ideal for university courses & for individuals preparing for professional actuarial examinations
- especially the new long-answer exam questions Three leaders in actuarial science balance rigor with intuition & emphasize practical applications using computational techniques to provide a modern perspective on life contingencies & equip students for the products & risk structures of the future The authors then develop a more contemporary outlook introducing multiple state models emerging cash flows & embedded options The 210 exercises provide meaningful practice with both long-answer & multiple choice questions Furthermore the book has been updated to include new material on discrete time Markov processes on models involving joint lives & on universal life insurance & participating traditional insurance the Solutions Manual (ISBN 9781107620261) available for separate purchase provides detailed solutions to the text's exercises