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\u003cp\u003e\u003cb\u003eA guide that provides in-depth coverage of modeling techniques used throughout many branches of actuarial science, revised and updated\u003c/b\u003e\u003c/p\u003e \u003cp\u003eNow in its fifth edition, \u003ci\u003eLoss Models: From Data to Decisions \u003c/i\u003eputs the focus on material tested in the Society of Actuaries (SOA) newly revised Exams STAM (Short-Term Actuarial Mathematics) and LTAM (Long-Term Actuarial Mathematics). Updated to reflect these exam changes, this vital resource offers actuaries, and those aspiring to the profession, a practical approach to the concepts and techniques needed to succeed in the profession. The techniques are also valuable for anyone who uses loss data to build models for assessing risks of any kind.\u003c/p\u003e \u003cp\u003e\u003ci\u003eLoss Models\u003c/i\u003e contains a wealth of examples that highlight the real-world applications of the concepts presented, and puts the emphasis on calculations and spreadsheet implementation. With a focus on the loss process, the book reviews the essential quantitative techniques such as random variables, basic distributional quantities, and the recursive method, and discusses techniques for classifying and creating distributions. Parametric, non-parametric, and Bayesian estimation methods are thoroughly covered. In addition, the authors offer practical advice for choosing an appropriate model. This important text:\u003c/p\u003e \u003cp\u003e\u0026bull;   Presents a revised and updated edition of the classic guide for actuaries that aligns with newly introduced Exams STAM and LTAM\u003c/p\u003e \u003cp\u003e\u0026bull;   Contains a wealth of exercises taken from previous exams\u003c/p\u003e \u003cp\u003e\u0026bull;   Includes fresh and additional content related to the material required by the Society of Actuaries (SOA) and the Canadian Institute of Actuaries (CIA)\u003c/p\u003e \u003cp\u003e\u0026bull;   Offers a solutions manual available for further insight, and all the data sets and supplemental material are posted on a companion site\u003c/p\u003e \u003cp\u003eWritten for students and aspiring actuaries who are preparing to take the SOA examinations, \u003ci\u003eLoss Models\u003c/i\u003e offers an essential guide to the concepts and techniques of actuarial science. \u003c/p\u003e |
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