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This new book for the Spring 2012 exam is available now in downloadable
pdf format. It covers all the new material integrating the multi-state approach with the traditional approach to Life
Contingencies.
In the very first chapter most of the basic concepts of the subject, such as Expected Present value,
Insurance, Annuities, Premiums and Reserves are introduced. This is done through a long detailed example covering a large
part of the subject matter in a unified manner.
Chapter 2 introduces multi-state models. The next four chapters
are devoted to applications of Markov Chains to two states (survival models for single life), three states (disability
models), four states (two lives) and several states (multiple decrements). The following four chapters are on Insurance, Annuities,
Premiums and Reserves. The last chapters are on Asset Shares, Profit Testing, Uniuversal Life Insurance and Interest
Rate Risk.
After practically every section there is a set of exercises focusing on material in that section.
After every chater there is a set of problems integrating all the material of that chapter. Solutions to the exercises are
provided at the end of each chapter and the solutions to the end-of-the-chapter problems at the end of the book.
For table of contents click here.
For sample pages click here
On this page I will post errata and updates
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