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Nonlife Actuarial Models
Theory, Methods and Evaluation



Part of International Series on Actuarial Science

  • Date Published: September 2009
  • availability: Available
  • format: Hardback
  • isbn: 9780521764650

£ 71.99

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About the Authors
  • Actuaries must pass exams, but more than that: they must put knowledge into practice. This coherent book gives complete syllabus coverage for Exam C of the Society of Actuaries (SOA) while emphasizing the concepts and practical application of nonlife actuarial models. Ideal for those approaching their professional exams, it is also a class-tested textbook for undergraduate university courses in actuarial science. All the topics that students need to prepare for Exam C are here, including modeling of losses, risk and ruin theory, credibility theory and applications, and empirical implementation of loss models. The book also covers more recent topics, such as risk measures and bootstrapping. Readers are assumed to have studied statistical inference and probability at the introductory undergraduate level. Numerous examples and exercises are provided, with many exercises adapted from past Exam C questions. Computational notes on the use of Excel are included. Teaching slides are available for download.

    • Contains numerous illustrative examples to enhance understanding and facilitate self-study
    • Features over 300 exercises, including some adapted from past exam questions, which allow the reader to apply their understanding
    • Provides notes on the use of Excel to facilitate computation
    • Teaching slides for instructors are available from the website
    Read more

    Reviews & endorsements

    'a very good balance of rigor and readability makes this book an impressive encyclopedia of results and methods for nonlife actuarial modeling.' Zentralblatt MATH

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    Product details

    • Date Published: September 2009
    • format: Hardback
    • isbn: 9780521764650
    • length: 542 pages
    • dimensions: 231 x 152 x 30 mm
    • weight: 0.98kg
    • contains: 1 b/w illus. 55 tables 350 exercises
    • availability: Available
  • Table of Contents

    Notation and convention
    Part I. Loss Models:
    1. Claim-frequency distribution
    2. Claim-severity distribution
    3. Aggregate-loss models
    Part II. Risk and Ruin:
    4. Risk measures
    5. Ruin theory
    Part III. Credibility:
    6. Classical credibility
    7. Bühlmann credibility
    8. Bayesian approach
    9. Empirical implementation of credibility
    Part IV. Model Construction and Evaluation:
    10. Model estimation and types of data
    11. Nonparametric model estimation
    12. Parametric model estimation
    13. Model evaluation and selection
    14. Basic Monte Carlo methods
    15. Applications of Monte Carlo methods
    Appendix. Review of statistics
    Answers to exercises

  • Resources for

    Nonlife Actuarial Models

    Yiu-Kuen Tse

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    Please use locked resources responsibly and exercise your professional discretion when choosing how you share these materials with your students. Other lecturers may wish to use locked resources for assessment purposes and their usefulness is undermined when the source files (for example, solution manuals or test banks) are shared online or via social networks.

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  • Instructors have used or reviewed this title for the following courses

    • Actuarial Models
    • Computer Applications in Financial Modeling
    • Risk Analysis
    • Risk Theory
    • Valuation and Financial Decisions
  • Author

    Yiu-Kuen Tse, Singapore Management University
    Yiu-Kuen Tse is currently a Professor with the School of Economics at Singapore Management University. He has been a Fellow of the Society of Actuaries (FSA) since 1993.

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