1. Introduction -- 2. Valuation of financial transactions -- 3. Demography -- 4. Actuarial practice -- 5. Valuation of contingent payments.

"This manual presents solutions to all exercises from Actuarial Mathematics for Life Contingent Risks (AMLCR) by David C.M. Dickson, Mary R. Hardy, Howard Waters; Cambridge University Press, 2009. ISBN 9780521118255"--Pref.

These lecture notes from the 1985 AMS Short Course examine a variety of topics from the contemporary theory of actuarial mathematics. Recent clarification in the concepts of probability and statistics has laid a much richer foundation for this theory. Other factors that have shaped the theory include the continuing advances in computer science, the flourishing mathematical theory of risk, developments in stochastic processes, and recent growth in the theory of finance. In turn, actuarial concepts have been applied to other areas such as biostatistics, demography, economic, and reliability engineering.

This book provides a comprehensive introduction to actuarial mathematics, covering both deterministic and stochastic models of life contingencies, as well as more advanced topics such as risk theory, credibility theory and multi-state models. This new edition includes additional material on credibility theory, continuous time multi-state models, more complex types of contingent insurances, flexible contracts such as universal life, the risk measures VaR and TVaR. Key Features: Covers much of the syllabus material on the modeling examinations of the Society of Actuaries, Canadian Institute of Actuaries and the Casualty Actuarial Society. (SOA-CIA exams MLC and C, CSA exams 3L and 4.) Extensively revised and updated with new material. Orders the topics specifically to facilitate learning. Provides a streamlined approach to actuarial notation. Employs modern computational methods. Contains a variety of exercises, both computational and theoretical, together with answers, enabling use for self-study. An ideal text for students planning for a professional career as actuaries, providing a solid preparation for the modeling examinations of the major North American actuarial associations. Furthermore, this book is highly suitable reference for those wanting a sound introduction to the subject, and for those working in insurance, annuities and pensions.

This book is for actuaries and financial analysts developing their expertise in statistics and who wish to become familiar with concrete examples of predictive modeling.