Download or read book Models for Quantifying Risk Sixth Edition written by Stephen J. Camilli, ASA and published by ACTEX Publications. This book was released on 2014-06-24 with total page 538 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is used in many university courses for SOA Exam MLC preparation. The Fifth Edition is the official reference for CAS Exam LC. The Sixth Edition of this textbook presents a variety of stochastic models for the actuary to use in undertaking the analysis of risk. It is designed to be appropriate for use in a two or three semester university course in basic actuarial science. It was written with the SOA Exam MLC and CAS Exam LC in mind. Models are evaluated in a generic form with life contingencies included as one of many applications of the science. Students will find this book to be a valuable reference due to its easy-to-understand explanations and end-of-chapter exercises. In 2013 the Society of Actuaries announced a change to Exam MLC's format, incorporating 60% written answer questions and new standard notation and terminology to be used for the exam. There are several areas of expanded content in the Sixth Edition due to these changes. Six important changes to the Sixth Edition: WRITTEN-ANSWER EXAMPLES This edition offers additional written-answer examples in order to better prepare the reader for the new SOA eam format. NOTATION AND TERMINOLOGY CONFORMS TO EXAM MLC MQR 6 fully incorporates all standard notation and terminology for exam MLC, as detailed by the SOA in their document Notation and Terminology Used on Exam MLC. MULTI-STATE MODELS Extension of multi-state model representationt to almost all topics covered in the text. FOCUS ON NORTH AMERICAN MARKET AND ACTUARIAL PROFESSION This book is written specifically for the multi-disciplinary needs of the North American Market. This is reflected in both content and terminology. PROFIT TESTING, PARTICIPATING INSURANCE, AND UNIVERSAL LIFE MQR 6 contains an expanded treatment of these topics. THIELE'S EQUATION Additional applications of this important equation are presented, to more fully prepare the reader for exam day. A separate solutions manual with detailed solutions to all of the text exercises is also available. Please see the Related Items Tab for a direct link I selected Models for Quantifying Risk as the text for my class. Given that the syllabus had changed quite dramatically from prior years, I was looking for a text that would cover all the material in the new syllabus in a way that was rigorous, easy to understand, and would prepare students for the May 2012 MLC exam. To me, the text with the accompanying solutions manual does precisely that. --Jay Vadiveloo, Ph.D., FSA, MAAA, CFA, Math Department, University of Connecticut I found that the exposition of the material is thorough while the concepts are readily accessible and well illustrated with examples. The book was an invaluable source of practice problems when I was preparing for the Exam MLC. Studying from it enabled me to pass this exam." -- Dmitry Glotov, Math Department, University of Connecticut "This book is extremely well written and structured." -- Kate Li, Student, University of Connecticut "Overall, the text is thorough, understandable, and well-organized. The clear exposition and excellent use of examples will benefit the student and help her avoid 'missing the forest for the trees'. I was impressed by the quality and quantity of examples and exercises throughout the text; students will find this collection of problems sorted by topic valuable for their exam preparation. Overall, I strongly recommend the book." -- Kristin Moore, Ph.D., ASA, University of Michigan

Download or read book Models for Quantifying Risk written by Robin J. Cunningham and published by . This book was released on 2005 with total page 680 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Quantifying Systemic Risk written by Joseph G. Haubrich and published by University of Chicago Press. This book was released on 2013-01-24 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the aftermath of the recent financial crisis, the federal government has pursued significant regulatory reforms, including proposals to measure and monitor systemic risk. However, there is much debate about how this might be accomplished quantitatively and objectively—or whether this is even possible. A key issue is determining the appropriate trade-offs between risk and reward from a policy and social welfare perspective given the potential negative impact of crises. One of the first books to address the challenges of measuring statistical risk from a system-wide persepective, Quantifying Systemic Risk looks at the means of measuring systemic risk and explores alternative approaches. Among the topics discussed are the challenges of tying regulations to specific quantitative measures, the effects of learning and adaptation on the evolution of the market, and the distinction between the shocks that start a crisis and the mechanisms that enable it to grow.

Download or read book Quantifying and Controlling Catastrophic Risks written by B. John Garrick and published by Academic Press. This book was released on 2008-10-27 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: The perception, assessment and management of risk are increasingly important core principles for determining the development of both policy and strategic responses to civil and environmental catastrophes. Whereas these principles were once confined to some areas of activity i.e. financial and insurance, they are now widely used in civil and environmental engineering. Comprehensive and readable, Civil and Environmental Risk: Mitigation and Control, provides readers with the mathematical tools and quantitative methods for determining the probability of a catastrophic event and mitigating and controlling the aftermath. With this book engineers develop the required skills for accurately assessing risk and formulating appropriate response strategies. The two part treatment starts with a clear and rigorous exposition of the quantitative risk assessment process, followed by self-contained chapters concerning applications. One of the first books to address both natural and human generated disasters, topics include events such as pandemic diseases, climate changes, major hurricanes, super earthquakes, mega tsunamis, volcanic eruptions, industrial accidents and terrorist attacks. Case studies appear at the end of the book allowing engineers to see how these principles are applied to scenarios such as a super hurricane or mega tsunamis, a reactor core melt down in a nuclear plant, a terrorist attack on the national electric grid, and an abrupt climate change brought about by a change in the ocean currents in the North Atlantic. Written by the current Chairman of the U.S. Nuclear Waste Technical Review Board, Environmental risk managers will find this reference a valuable and authoritative guide both in accurately calculating risk and its applications in their work. - Mathematical tools for calculating and Controlling Catastrophic Risk - Presents a systematic method for ranking the importance of societal threats - Includes both Natural and Industrial Catastrophes - Case studies cover such events as pandemic diseases, climate changes, major hurricanes, super earthquakes, mega tsunamis, volcanic eruptions, industrial accidents, and terrorist attacks

Download or read book Risk Modeling Assessment and Management written by Yacov Y. Haimes and published by John Wiley & Sons. This book was released on 2011-09-20 with total page 810 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines timely multidisciplinary applications, problems, and case histories in risk modeling, assessment, and management Risk Modeling, Assessment, and Management, Third Edition describes the state of the art of risk analysis, a rapidly growing field with important applications in engineering, science, manufacturing, business, homeland security, management, and public policy. Unlike any other text on the subject, this definitive work applies the art and science of risk analysis to current and emergent engineering and socioeconomic problems. It clearly demonstrates how to quantify risk and construct probabilities for real-world decision-making problems, including a host of institutional, organizational, and political issues. Avoiding higher mathematics whenever possible, this important new edition presents basic concepts as well as advanced material. It incorporates numerous examples and case studies to illustrate the analytical methods under discussion and features restructured and updated chapters, as well as: A new chapter applying systems-driven and risk-based analysis to a variety of Homeland Security issues An accompanying FTP site—developed with Professor Joost Santos—that offers 150 example problems with an Instructor's Solution Manual and case studies from a variety of journals Case studies on the 9/11 attack and Hurricane Katrina An adaptive multiplayer Hierarchical Holographic Modeling (HHM) game added to Chapter Three This is an indispensable resource for academic, industry, and government professionals in such diverse areas as homeland and cyber security, healthcare, the environment, physical infrastructure systems, engineering, business, and more. It is also a valuable textbook for both undergraduate and graduate students in systems engineering and systems management courses with a focus on our uncertain world.

Download or read book Actuarial Finance written by Mathieu Boudreault and published by John Wiley & Sons. This book was released on 2019-03-22 with total page 592 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new textbook offering a comprehensive introduction to models and techniques for the emerging field of actuarial Finance Drs. Boudreault and Renaud answer the need for a clear, application-oriented guide to the growing field of actuarial finance with this volume, which focuses on the mathematical models and techniques used in actuarial finance for the pricing and hedging of actuarial liabilities exposed to financial markets and other contingencies. With roots in modern financial mathematics, actuarial finance presents unique challenges due to the long-term nature of insurance liabilities, the presence of mortality or other contingencies and the structure and regulations of the insurance and pension markets. Motivated, designed and written for and by actuaries, this book puts actuarial applications at the forefront in addition to balancing mathematics and finance at an adequate level to actuarial undergraduates. While the classical theory of financial mathematics is discussed, the authors provide a thorough grounding in such crucial topics as recognizing embedded options in actuarial liabilities, adequately quantifying and pricing liabilities, and using derivatives and other assets to manage actuarial and financial risks. Actuarial applications are emphasized and illustrated with about 300 examples and 200 exercises. The book also comprises end-of-chapter point-form summaries to help the reader review the most important concepts. Additional topics and features include: Compares pricing in insurance and financial markets Discusses event-triggered derivatives such as weather, catastrophe and longevity derivatives and how they can be used for risk management; Introduces equity-linked insurance and annuities (EIAs, VAs), relates them to common derivatives and how to manage mortality for these products Introduces pricing and replication in incomplete markets and analyze the impact of market incompleteness on insurance and risk management; Presents immunization techniques alongside Greeks-based hedging; Covers in detail how to delta-gamma/rho/vega hedge a liability and how to rebalance periodically a hedging portfolio. This text will prove itself a firm foundation for undergraduate courses in financial mathematics or economics, actuarial mathematics or derivative markets. It is also highly applicable to current and future actuaries preparing for the exams or actuary professionals looking for a valuable addition to their reference shelf. As of 2019, the book covers significant parts of the Society of Actuaries’ Exams FM, IFM and QFI Core, and the Casualty Actuarial Society’s Exams 2 and 3F. It is assumed the reader has basic skills in calculus (differentiation and integration of functions), probability (at the level of the Society of Actuaries’ Exam P), interest theory (time value of money) and, ideally, a basic understanding of elementary stochastic processes such as random walks.

Download or read book Models for Quantifying Risk written by Robin J. Cunningham and published by . This book was released on 2011 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Project Risk Quantification written by John K. Hollmann and published by . This book was released on 2016-06-28 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: Project Risk Quantification presents the most practical, realistic, and integrated approach to project cost and schedule Risk Quantification that is available today. It offers proven, empirically-valid methods and tools applicable to projects of all types and at all decision gates. The text is written for both the manager and the risk analysis practitioner. It will bring reliable accuracy and contingency determination to your capital project organization.

Download or read book Solutions Manual for Actuarial Mathematics for Life Contingent Risks written by David C. M. Dickson and published by Cambridge University Press. This book was released on 2012-03-26 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: "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.

Download or read book Correlation Risk Modeling and Management written by Gunter Meissner and published by John Wiley & Sons. This book was released on 2013-12-19 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: A thorough guide to correlation risk and its growing importance in global financial markets Ideal for anyone studying for CFA, PRMIA, CAIA, or other certifications, Correlation Risk Modeling and Management is the first rigorous guide to the topic of correlation risk. A relatively overlooked type of risk until it caused major unexpected losses during the financial crisis of 2007 through 2009, correlation risk has become a major focus of the risk management departments in major financial institutions, particularly since Basel III specifically addressed correlation risk with new regulations. This offers a rigorous explanation of the topic, revealing new and updated approaches to modelling and risk managing correlation risk. Offers comprehensive coverage of a topic of increasing importance in the financial world Includes the Basel III correlation framework Features interactive models in Excel/VBA, an accompanying website with further materials, and problems and questions at the end of each chapter

Download or read book Health Risks from Exposure to Low Levels of Ionizing Radiation written by Committee to Assess Health Risks from Exposure to Low Levels of Ionizing Radiation and published by National Academies Press. This book was released on 2006-03-23 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the seventh in a series of titles from the National Research Council that addresses the effects of exposure to low dose LET (Linear Energy Transfer) ionizing radiation and human health. Updating information previously presented in the 1990 publication, Health Effects of Exposure to Low Levels of Ionizing Radiation: BEIR V, this book draws upon new data in both epidemiologic and experimental research. Ionizing radiation arises from both natural and man-made sources and at very high doses can produce damaging effects in human tissue that can be evident within days after exposure. However, it is the low-dose exposures that are the focus of this book. So-called “late” effects, such as cancer, are produced many years after the initial exposure. This book is among the first of its kind to include detailed risk estimates for cancer incidence in addition to cancer mortality. BEIR VII offers a full review of the available biological, biophysical, and epidemiological literature since the last BEIR report on the subject and develops the most up-to-date and comprehensive risk estimates for cancer and other health effects from exposure to low-level ionizing radiation.

Download or read book Measuring and Managing Information Risk written by Jack Freund and published by Butterworth-Heinemann. This book was released on 2014-08-23 with total page 411 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using the factor analysis of information risk (FAIR) methodology developed over ten years and adopted by corporations worldwide, Measuring and Managing Information Risk provides a proven and credible framework for understanding, measuring, and analyzing information risk of any size or complexity. Intended for organizations that need to either build a risk management program from the ground up or strengthen an existing one, this book provides a unique and fresh perspective on how to do a basic quantitative risk analysis. Covering such key areas as risk theory, risk calculation, scenario modeling, and communicating risk within the organization, Measuring and Managing Information Risk helps managers make better business decisions by understanding their organizational risk. - Uses factor analysis of information risk (FAIR) as a methodology for measuring and managing risk in any organization. - Carefully balances theory with practical applicability and relevant stories of successful implementation. - Includes examples from a wide variety of businesses and situations presented in an accessible writing style.

Download or read book Rethinking Valuation and Pricing Models written by Carsten Wehn and published by Academic Press. This book was released on 2012-11-08 with total page 658 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is widely acknowledged that many financial modelling techniques failed during the financial crisis, and in our post-crisis environment many techniques are being reconsidered. This single volume provides a guide to lessons learned for practitioners and a reference for academics. Including reviews of traditional approaches, real examples, and case studies, contributors consider portfolio theory; methods for valuing equities and equity derivatives, interest rate derivatives, and hybrid products; and techniques for calculating risks and implementing investment strategies. Describing new approaches without losing sight of their classical antecedents, this collection of original articles presents a timely perspective on our post-crisis paradigm. Highlights pre-crisis best classical practices, identifies post-crisis key issues, and examines emerging approaches to solving those issues Singles out key factors one must consider when valuing or calculating risks in the post-crisis environment Presents material in a homogenous, practical, clear, and not overly technical manner

Download or read book Risk Assessment Methods written by V.T. Covello and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: Much has already been written about risk assessment. Epidemiologists write books on how risk assessment is used to explore the factors that influence the distribution of disease in populations of people. Toxicologists write books on how risk assess ment involves exposing animals to risk agents and concluding from the results what risks people might experience if similarly exposed. Engineers write books on how risk assessment is utilized to estimate the risks of constructing a new facility such as a nuclear power plant. Statisticians write books on how risk assessment may be used to analyze mortality or accident data to determine risks. There are already many books on risk assessment-the trouble is that they all seem to be about different sUbjects! This book takes another approach. It brings together all the methods for assessing risk into a common framework, thus demonstrating how the various methods relate to one another. This produces four important benefits: • First, it provides a comprehensive reference for risk assessment. This one source offers readers concise explanations of the many methods currently available for describing and quantifying diverse types of risks. • Second, it consistently evaluates and compares available risk assessment methods and identifies their specific strengths and limitations. Understand ing the limitations of risk assessment methods is important. The field is still in its infancy, and the problems with available methods are disappoint ingly numerous. At the same time, risk assessment is being used.

Download or read book Financial Mathematics For Actuaries Third Edition written by Wai-sum Chan and published by World Scientific. This book was released on 2021-09-14 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a thorough understanding of the fundamental concepts of financial mathematics essential for the evaluation of any financial product and instrument. Mastering concepts of present and future values of streams of cash flows under different interest rate environments is core for actuaries and financial economists. This book covers the body of knowledge required by the Society of Actuaries (SOA) for its Financial Mathematics (FM) Exam.The third edition includes major changes such as an addition of an 'R Laboratory' section in each chapter, except for Chapter 9. These sections provide R codes to do various computations, which will facilitate students to apply conceptual knowledge. Additionally, key definitions have been revised and the theme structure has been altered. Students studying undergraduate courses on financial mathematics for actuaries will find this book useful. This book offers numerous examples and exercises, some of which are adapted from previous SOA FM Exams. It is also useful for students preparing for the actuarial professional exams through self-study.

Download or read book Total Information Risk Management written by Alexander Borek and published by Newnes. This book was released on 2013-08-30 with total page 315 pages. Available in PDF, EPUB and Kindle. Book excerpt: How well does your organization manage the risks associated with information quality? Managing information risk is becoming a top priority on the organizational agenda. The increasing sophistication of IT capabilities along with the constantly changing dynamics of global competition are forcing businesses to make use of their information more effectively. Information is becoming a core resource and asset for all organizations; however, it also brings many potential risks to an organization, from strategic, operational, financial, compliance, and environmental to societal. If you continue to struggle to understand and measure how information and its quality affects your business, this book is for you. This reference is in direct response to the new challenges that all managers have to face. Our process helps your organization to understand the "pain points" regarding poor data and information quality so you can concentrate on problems that have a high impact on core business objectives. This book provides you with all the fundamental concepts, guidelines and tools to ensure core business information is identified, protected and used effectively, and written in a language that is clear and easy to understand for non-technical managers. - Shows how to manage information risk using a holistic approach by examining information from all sources - Offers varied perspectives of an author team that brings together academics, practitioners and researchers (both technical and managerial) to provide a comprehensive guide - Provides real-life case studies with practical insight into the management of information risk and offers a basis for broader discussion among managers and practitioners

Download or read book Catastrophe Modeling written by Patricia Grossi and published by Springer Science & Business Media. This book was released on 2006-01-27 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on the research that has been conducted at Wharton Risk Management Center over the past five years on catastrophic risk. Covers a hot topic in the light of recent terroristic activities and nature catastrophes. Develops risk management strategies for reducing and spreading the losses from future disasters. Provides glossary of definitions and terms used throughout the book.