Synopses & Reviews
Written by three renowned authorities in the actuarial field,
Loss Models, Third Editionupholds the reputation for excellence that has made this book required reading for the Society of Actuaries (SOA) and Casualty Actuarial Society (CAS) qualification examinations. This update serves as a complete presentation of statistical methods for measuring risk and building models to measure loss in real-world events. It provides over 400 exercises that have appeared on previous SOA and CAS examinations, as well as Intriguing examples from the fields of insurance and business.
Features of the Third Edition include:
- Extended discussion of risk management and risk measures, including Tail-Value-at-Risk
- Maintains an approach to modeling and forecasting that utilizes tools related to risk theory, loss distributions, and survival models
- Expanded coverage of copula models and their estimation
- New sections on extreme value distributions and their estimations
- All data sets are available on the book’s FTP site
Loss Models, Third Editionis an essential resource for students and aspiring actuaries who are preparing to take the SOA and CAS preliminary examination. It is a must-have reference for professional actuaries, graduate students in the actuarial field, and anyone who works with loss and risk models in their everyday work.
Synopsis:
Loss Models: From Data to Decisions, Third Editionhas been thoroughly revised and updated to include new material related to Exam C (old Exam 4) of the Society of Actuaries' accreditation program. Terms are defined when they are first introduced, and a solid background in mathematical sciences (including calculus) is recommended. Companion software, datasets, and over 400 sample test exercises, with worked-out solutions, are available in various online products. The content of the book is organized around the principle that actuaries build models in order to analyze risks. It begins with a framework for model building and a description of frequency and severity loss data and moves forward with a thorough emphasis on paramtric models throughout the book. Frequency, severity, and risk models are extensively developed through aggregate loss models, in credibility-based pricing models, and in loss analysis over multiple time periods. This book is a must-have for all aspiring and practicing actuaries.
Synopsis:
Covering the content required by the Society of Actuaries, the Casualty Actuarial Society, and the Canadian Institute for Actuaries for successful completion of Exam C, this e-learning product contains all the material on classical areas of risk theory, loss distributions, and survival models that both aspiring and practicing actuaries need to understand, whether in or out of a traditional classroom setting. Features include full, searchable text; scores of simulations and animations; 75 data sets; unique sample test exercises; multiple timed exams; and built-in grading system for students and instructors.
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