Summary: This book goes to the heart of assessing the vulnerability in the pricing structures of all lines of insurance, employee benefits and other forms of contingent payments. This second edition is a step in an ongoing process of adapting the fundamentals of actuarial science to be current with changing realities. Among the book's key features is the probabilistic approach taken and the entry of risk into decision theory. Another key feature is the integration of lif ...show moree contingency concepts with risk theory. These and other expanded theoretical foundations carry actuarial practice to the forefront of defining ''security'' in the financial security industry. The text is critical for the preparation for the preliminary exams. ...show lessEdition/Copyright: 2ND 97
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