Models for quantifying risk 2nd Edition by Robin Cunningham, Thomas Herzog, Richard London 1566985846 9781566985840

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 the SOA Exam MLC and CAS Exam 3 in mind. It covers of the life contingencies exam topics in a single reference. It also includes some introductory loss models material which can serve as initial preparation for SOA Exam C and CAS Exam 4. 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 the end-of-chapter exercises. It also introduces students to the practical use of the science via the Appendices. Check back at a later date for a free sample. This book is listed on the Course of Reading for the Society of Actuaries Exam MLC, Casualty Actuarial Society Exam 3 and the EA-1 Examination of the Joint Board for the Enrollment of Actuaries. I found that the exposition of the material is thorough while the concepts are readily accessible and well illustrated with examples. The book was an invaluable source of practice problems when I was preparing for the Exam M. Studying from it enabled me to pass this exam.” — Dmitry Glotov, Math Department, University of Connecticut “This book is extremely well written and structured.” — Kate Li, Student, University of Connecticut “Overall, the text is thorough, understandable, and well-organized. The clear exposition and excellent use of examples will benefit the student and help her avoid ‘missing the forest for the trees’. I was impressed by the quality and quantity of examples and exercises throughout the text; students will find this collection of problems sorted by topic valuable for their exam preparation. Overall, I strongly recommend the book.” – Kristin Moore, Ph.D., ASA, University of Michigan