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The 6th Edition of Models for Quantifying Risk provides a comprehensive introduction to stochastic models used in the analysis and management of risk. Designed for use in a two- or three-semester university course, it offers a balance of theory, application, and practice across topics including life contingencies, multi-state models, profit testing, participating insurance, and universal life.
This edition includes:
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Expanded written-answer examples to strengthen applied learning skills.
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Updated notation and terminology consistent with current actuarial practice.
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Extended coverage of multi-state models across most chapters.
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Focused content for the North American market, with relevant terminology and examples.
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Broader treatment of profit testing, participating insurance, and universal life.
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Additional applications of Thiele’s Equation for deeper analytical understanding.