Fundamentals of Actuarial Mathematics. (Record no. 32789)
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| fixed length control field | 11170nam a22005053i 4500 |
| 001 - CONTROL NUMBER | |
| control field | EBC7104071 |
| 003 - CONTROL NUMBER IDENTIFIER | |
| control field | MiAaPQ |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20240724115647.0 |
| 006 - FIXED-LENGTH DATA ELEMENTS--ADDITIONAL MATERIAL CHARACTERISTICS | |
| fixed length control field | m o d | |
| 007 - PHYSICAL DESCRIPTION FIXED FIELD--GENERAL INFORMATION | |
| fixed length control field | cr cnu|||||||| |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 240724s2015 xx o ||||0 eng d |
| 020 ## - INTERNATIONAL STANDARD BOOK NUMBER | |
| International Standard Book Number | 9781118782491 |
| Qualifying information | (electronic bk.) |
| 020 ## - INTERNATIONAL STANDARD BOOK NUMBER | |
| Canceled/invalid ISBN | 9781118782460 |
| 035 ## - SYSTEM CONTROL NUMBER | |
| System control number | (MiAaPQ)EBC7104071 |
| 035 ## - SYSTEM CONTROL NUMBER | |
| System control number | (Au-PeEL)EBL7104071 |
| 035 ## - SYSTEM CONTROL NUMBER | |
| System control number | (OCoLC)1347025544 |
| 040 ## - CATALOGING SOURCE | |
| Original cataloging agency | MiAaPQ |
| Language of cataloging | eng |
| Description conventions | rda |
| -- | pn |
| Transcribing agency | MiAaPQ |
| Modifying agency | MiAaPQ |
| 050 #4 - LIBRARY OF CONGRESS CALL NUMBER | |
| Classification number | HG8781 .P76 2015 |
| 082 0# - DEWEY DECIMAL CLASSIFICATION NUMBER | |
| Classification number | 368/.01 |
| 100 1# - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Promislow, S. David. |
| 245 10 - TITLE STATEMENT | |
| Title | Fundamentals of Actuarial Mathematics. |
| 250 ## - EDITION STATEMENT | |
| Edition statement | 1st ed. |
| 264 #1 - PRODUCTION, PUBLICATION, DISTRIBUTION, MANUFACTURE, AND COPYRIGHT NOTICE | |
| Place of production, publication, distribution, manufacture | Newark : |
| Name of producer, publisher, distributor, manufacturer | John Wiley & Sons, Incorporated, |
| Date of production, publication, distribution, manufacture, or copyright notice | 2015. |
| 264 #4 - PRODUCTION, PUBLICATION, DISTRIBUTION, MANUFACTURE, AND COPYRIGHT NOTICE | |
| Date of production, publication, distribution, manufacture, or copyright notice | ©2015. |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 1 online resource (554 pages) |
| 336 ## - CONTENT TYPE | |
| Content type term | text |
| Content type code | txt |
| Source | rdacontent |
| 337 ## - MEDIA TYPE | |
| Media type term | computer |
| Media type code | c |
| Source | rdamedia |
| 338 ## - CARRIER TYPE | |
| Carrier type term | online resource |
| Carrier type code | cr |
| Source | rdacarrier |
| 490 1# - SERIES STATEMENT | |
| Series statement | New York Academy of Sciences Series |
| 505 0# - FORMATTED CONTENTS NOTE | |
| Formatted contents note | Intro -- Fundamentals of Actuarial Mathematics -- Contents -- Preface -- Acknowledgements -- About the companion website -- Part I THE DETERMINISTIC LIFE CONTINGENCIES MODEL -- 1 Introduction and motivation -- 1.1 Risk and insurance -- 1.2 Deterministic versus stochastic models -- 1.3 Finance and investments -- 1.4 Adequacy and equity -- 1.5 Reassessment -- 1.6 Conclusion -- 2 The basic deterministic model -- 2.1 Cash flows -- 2.2 An analogy with currencies -- 2.3 Discount functions -- 2.4 Calculating the discount function -- 2.5 Interest and discount rates -- 2.6 Constant interest -- 2.7 Values and actuarial equivalence -- 2.8 Vector notation -- 2.9 Regular pattern cash flows -- 2.10 Balances and reserves -- 2.10.1 Basic concepts -- 2.10.2 Relation between balances and reserves -- 2.10.3 Prospective versus retrospective methods -- 2.10.4 Recursion formulas -- 2.11 Time shifting and the splitting identity -- *2.11 Change of discount function -- 2.12 Internal rates of return -- *2.13 Forward prices and term structure -- 2.14 Standard notation and terminology -- 2.14.1 Standard notation for cash flows discounted with interest -- 2.14.2 New notation -- 2.15 Spreadsheet calculations -- Notes and references -- Exercises -- 3 The life table -- 3.1 Basic definitions -- 3.2 Probabilities -- 3.3 Constructing the life table from the values of qx -- 3.4 Life expectancy -- 3.5 Choice of life tables -- 3.6 Standard notation and terminology -- 3.7 A sample table -- Notes and references -- Exercises -- 4 Life annuities -- 4.1 Introduction -- 4.2 Calculating annuity premiums -- 4.3 The interest and survivorship discount function -- 4.3.1 The basic definition -- 4.3.2 Relations between yx for various values of x -- 4.4 Guaranteed payments -- 4.5 Deferred annuities with annual premiums -- 4.6 Some practical considerations -- 4.6.1 Gross premiums. |
| 505 8# - FORMATTED CONTENTS NOTE | |
| Formatted contents note | 4.6.2 Gender aspects -- 4.7 Standard notation and terminology -- 4.8 Spreadsheet calculations -- Exercises -- 5 Life insurance -- 5.1 Introduction -- 5.2 Calculating life insurance premiums -- 5.3 Types of life insurance -- 5.4 Combined insurance-annuity benefits -- 5.5 Insurances viewed as annuities -- 5.6 Summary of formulas -- 5.7 A general insurance-annuity identity -- 5.7.1 The general identity -- 5.7.2 The endowment identity -- 5.8 Standard notation and terminology -- 5.8.1 Single-premium notation -- 5.8.2 Annual-premium notation -- 5.8.3 Identities -- 5.9 Spreadsheet applications -- Exercises -- 6 Insurance and annuity reserves -- 6.1 Introduction to reserves -- 6.2 The general pattern of reserves -- 6.3 Recursion -- 6.4 Detailed analysis of an insurance or annuity contract -- 6.4.1 Gains and losses -- 6.4.2 The risk-savings decomposition -- 6.5 Bases for reserves -- 6.6 Nonforfeiture values -- 6.7 Policies involving a return of the reserve -- 6.8 Premium difference and paid-up formulas -- 6.8.1 Premium difference formulas -- 6.8.2 Paid-up formulas -- 6.8.3 Level endowment reserves -- 6.9 Standard notation and terminology -- 6.10 Spreadsheet applications -- Exercises -- 7 Fractional durations -- 7.1 Introduction -- 7.2 Cash flows discounted with interest only -- 7.3 Life annuities paid mthly -- 7.3.1 Uniform distribution of deaths -- 7.3.2 Present value formulas -- 7.4 Immediate annuities -- 7.5 Approximation and computation -- *7.6 Fractional period premiums and reserves -- 7.7 Reserves at fractional durations -- 7.8 Standard notation and terminology -- Exercises -- 8 Continuous payments -- 8.1 Introduction to continuous annuities -- 8.2 The force of discount -- 8.3 The constant interest case -- 8.4 Continuous life annuities -- 8.4.1 Basic definition -- 8.4.2 Evaluation -- 8.4.3 Life expectancy revisited -- 8.5 The force of mortality. |
| 505 8# - FORMATTED CONTENTS NOTE | |
| Formatted contents note | 8.6 Insurances payable at the moment of death -- 8.6.1 Basic definitions -- 8.6.2 Evaluation -- 8.7 Premiums and reserves -- 8.8 The general insurance-annuity identity in the continuous case -- 8.9 Differential equations for reserves -- 8.10 Some examples of exact calculation -- 8.10.1 Constant force of mortality -- 8.10.2 Demoivre's law -- 8.10.3 An example of the splitting identity -- 8.11 Further approximations from the life table -- 8.12 Standard actuarial notation and terminology -- Notes and references -- Exercises -- 9 Select mortality -- 9.1 Introduction -- 9.2 Select and ultimate tables -- 9.3 Changes in formulas -- 9.4 Projections in annuity tables -- 9.5 Further remarks -- Exercises -- 10 Multiple-life contracts -- 10.1 Introduction -- 10.2 The joint-life status -- 10.3 Joint-life annuities and insurances -- 10.4 Last-survivor annuities and insurances -- 10.4.1 Basic results -- 10.4.2 Reserves on second-death insurances -- 10.5 Moment of death insurances -- 10.6 The general two-life annuity contract -- 10.7 The general two-life insurance contract -- 10.8 Contingent insurances -- 10.8.1 First-death contingent insurances -- 10.8.2 Second-death contingent insurances -- 10.8.3 Moment-of-death contingent insurances -- 10.8.4 General contingent probabilities -- 10.9 Duration problems -- *10.10 Applications to annuity credit risk -- 10.11 Standard notation and terminology -- 10.12 Spreadsheet applications -- Notes and references -- Exercises -- 11 Multiple-decrement theory -- 11.1 Introduction -- 11.2 The basic model -- 11.2.1 The multiple-decrement table -- 11.2.2 Quantities calculated from the multiple-decrement table -- 11.3 Insurances -- 11.4 Determining the model from the forces of decrement -- 11.5 The analogy with joint-life statuses -- 11.6 A machine analogy -- 11.6.1 Method 1 -- 11.6.2 Method 2 -- 11.7 Associated single-decrement tables. |
| 505 8# - FORMATTED CONTENTS NOTE | |
| Formatted contents note | 11.7.1 The main methods -- 11.7.2 Forces of decrement in the associated single-decrement tables -- 11.7.3 Conditions justifying the two methods -- 11.7.4 Other approaches -- Notes and references -- Exercises -- 12 Expenses and profits -- 12.1 Introduction -- 12.2 Effect on reserves -- 12.3 Realistic reserve and balance calculations -- 12.4 Profit measurement -- 12.4.1 Advanced gain and loss analysis -- 12.4.2 Gains by source -- 12.4.3 Profit testing -- Notes and references -- Exercises -- *13 Specialized topics -- 13.1 Universal life -- 13.1.1 Description of the contract -- 13.1.2 Calculating account values -- 13.2 Variable annuities -- 13.3 Pension plans -- 13.3.1 DB plans -- 13.3.2 DC plans -- Exercises -- Part II THE STOCHASTIC LIFE CONTINGENCIES MODEL -- 14 Survival distributions and failure times -- 14.1 Introduction to survival distributions -- 14.2 The discrete case -- 14.3 The continuous case -- 14.3.1 The basic functions -- 14.3.2 Properties of -- 14.3.3 Modes -- 14.4 Examples -- 14.5 Shifted distributions -- 14.6 The standard approximation -- 14.7 The stochastic life table -- 14.8 Life expectancy in the stochastic model -- 14.9 Stochastic interest rates -- Notes and references -- Exercises -- 15 The stochastic approach to insurance and annuities -- 15.1 Introduction -- 15.2 The stochastic approach to insurance benefits -- 15.2.1 The discrete case -- 15.2.2 The continuous case -- 15.2.3 Approximation -- 15.2.4 Endowment insurances -- 15.3 The stochastic approach to annuity benefits -- 15.3.1 Discrete annuities -- 15.3.2 Continuous annuities -- *15.4 Deferred contracts -- 15.5 The stochastic approach to reserves -- 15.6 The stochastic approach to premiums -- 15.6.1 The equivalence principle -- 15.6.2 Percentile premiums -- 15.6.3 Aggregate premiums -- 15.6.4 General premium principles -- 15.7 The variance of rL. |
| 505 8# - FORMATTED CONTENTS NOTE | |
| Formatted contents note | 15.8 Standard notation and terminology -- Notes and references -- Exercises -- 16 Simplifications under level benefit contracts -- 16.1 Introduction -- 16.2 Variance calculations in the continuous case -- 16.2.1 Insurances -- 16.2.2 Annuities -- 16.2.3 Prospective losses -- 16.2.4 Using equivalence principle premiums -- 16.3 Variance calculations in the discrete case -- 16.4 Exact distributions -- 16.4.1 The distribution of Z -- 16.4.2 The distribution of Y -- 16.4.3 The distribution of L -- 16.4.4 The case where T is exponentially distributed -- 16.5 Some non-level benefit examples -- 16.5.1 Term insurance -- 16.5.2 Deferred insurance -- 16.5.3 An annual premium policy -- Exercises -- 17 The minimum failure time -- 17.1 Introduction -- 17.2 Joint distributions -- 17.3 The distribution of T -- 17.3.1 The general case -- 17.3.2 The independent case -- 17.4 The joint distribution of (T, J) -- 17.4.1 The distribution function for (T, J) -- 17.4.2 Density and survival functions for (T, J) -- 17.4.3 The distribution of J -- 17.4.4 Hazard functions for (T, J) -- 17.4.5 The independent case -- 17.4.6 Nonidentifiability -- 17.4.7 Conditions for the independence of T and J -- 17.5 Other problems -- 17.6 The common shock model -- 17.7 Copulas -- Notes and references -- Exercises -- Part III ADVANCED STOCHASTIC MODELS -- 18 An introduction to stochastic processes -- 18.1 Introduction -- 18.2 Markov chains -- 18.2.1 Definitions -- 18.2.2 Examples -- 18.3 Martingales -- 18.4 Finite-state Markov chains -- 18.4.1 The transition matrix -- 18.4.2 Multi-period transitions -- 18.4.3 Distributions -- *18.4.4 Limiting distributions -- *18.4.5 Recurrent and transient states -- 18.5 Introduction to continuous time processes -- 18.6 Poisson processes -- 18.6.1 Waiting times -- 18.6.2 Nonhomogeneous Poisson processes -- 18.7 Brownian motion -- 18.7.1 The main definition. |
| 505 8# - FORMATTED CONTENTS NOTE | |
| Formatted contents note | 18.7.2 Connection with random walks. |
| 588 ## - SOURCE OF DESCRIPTION NOTE | |
| Source of description note | Description based on publisher supplied metadata and other sources. |
| 590 ## - LOCAL NOTE (RLIN) | |
| Local note | Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries. |
| 650 #0 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name entry element | Business mathematics. |
| 650 #0 - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name entry element | Insurance-Mathematics. |
| 655 #4 - INDEX TERM--GENRE/FORM | |
| Genre/form data or focus term | Electronic books. |
| 776 08 - ADDITIONAL PHYSICAL FORM ENTRY | |
| Relationship information | Print version: |
| Main entry heading | Promislow, S. David |
| Title | Fundamentals of Actuarial Mathematics |
| Place, publisher, and date of publication | Newark : John Wiley & Sons, Incorporated,c2015 |
| International Standard Book Number | 9781118782460 |
| 797 2# - LOCAL ADDED ENTRY--CORPORATE NAME (RLIN) | |
| Corporate name or jurisdiction name as entry element | ProQuest (Firm) |
| 830 #0 - SERIES ADDED ENTRY--UNIFORM TITLE | |
| Uniform title | New York Academy of Sciences Series |
| 856 40 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://ebookcentral.proquest.com/lib/orpp/detail.action?docID=7104071">https://ebookcentral.proquest.com/lib/orpp/detail.action?docID=7104071</a> |
| Public note | Click to View |
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