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Table Of Contents

1 The Basics of Interest Theory
2 Equations of Value and Time Diagrams
3 Level Annuities
3.1 Level Annuity-Immediate
3.2 Level Annuity-Due
3.3 Level Continuous Annuity
4 Varying Annuities
4.1 Varying Annuity-Immediate
4.2 Varying Annuity-Due
4.3 Continuous Varying Annuities
4.4 Continuously Payable Varying Annuities
5 Annuity Values on Any Date: Deferred An-
A Brief Review of Probability
6 Basic Definitions of Probability
7 Classification of Random Variables
8 Discrete Random Variables
9 Continuous Random Variables
10 Raw and Central Moments
11 Median, Mode, Percentiles, and Quantiles
12 Mixed Distributions
14.2 Normal and Standard Normal Distributions
14.3 Exponential Distribution
14.4 Gamma Distribution
15 Bivariate Random Variables
15.1 Joint CDFs
15.2 Bivariate Distributions: The Discrete Case
15.3 Bivariate Distributions: The Continuous Case
15.4 Independent Random Variables
15.5 Conditional Distributions: The Discrete Case
16.2 Distributions Closed Under Convolution
16.3 Distribution of S : Convolutions
17 Compound Probability Distributions
17.1 Mean and Variance of S
17.2 Moment Generating Function of S
Actuarial Survival Models
18 Age-At-Death Random Variable
18.1 The Cumulative Distribution Function of X
18.2 The Survival Distribution Function of X
18.3 The Probability Density Function of X
18.4 Force of Mortality of X
18.5 The Mean and Variance of X
19 Selected Parametric Survival Models
19.1 The Uniform or De Moivre’s Model
19.2 The Exponential Model
19.3 The Gompertz Model
19.4 The Modified Gompertz Model: The Makeham’s
19.5 The Weibull Model
20 Time-Until-Death Random Variable
20.1 The Survival Function of T(x)
20.2 The Cumulative Distribution Function of T(x)
20.3 Probability Density Function of T(x)
20.4 Force of Mortality of T(x)
20.5 Mean and Variance of T(x)
20.6 Curtate-Future-Lifetime
21 Central Death Rates
The Life Table Format
22 The Basic Life Table
23 Mortality Functions in Life Table Notation
23.1 Force of Mortality Function
23.2 The Probability Density Function of X
23.3 Mean and Variance of X
23.4 Conditional Probabilities
23.5 Mean and Variance of T(x)
23.6 Temporary Complete Life Expectancy
23.7 The Curtate Expectation of Life
23.8 The nLx Notation
23.9 Central Death Rate
24 Fractional Age Assumptions
24.3 Harmonic (Balducci) Assumption
25 Select-and-Ultimate Mortality Tables
26 Insurances Payable at the Moment of Death
26.1 Level Benefit Whole Life Insurance
26.2 Finite Term Insurance Payable at the Moment of
26.3 Endowments
26.3.1 Pure Endowments
26.3.2 Endowment Insurance
26.4 Deferred Life Insurance
27 Insurances Payable at the End of the Year
premiums of insurances payable at the end of the year of death
28 Recursion Relations for Life Insurance
29 Variable Insurance Benefit
29.1 Non-level Payments: A Simple Example
Moment of Death
the End of Year of Death
32 Applications of Life Insurance
Contingent Annuity Models
33 Continuous Whole Life Annuities
34 Continuous Temporary Life Annuities
35 Continuous Deferred Life Annuities
36 The Certain-and-Life Annuity
37 Discrete Life Annuities
37.1 Whole Life Annuity Due
37.2 Temporary Life Annuity-Due
37.3 Discrete Deferred Life Annuity-Due
37.4 Discrete Certain and Life Annuity-Due
37.5 Life Annuity-Immediate
39 Non-Level Payments Annuities
39.1 The Discrete Case
39.2 The Continuous Case
Calculating Benefit Premiums
40 Fully Continuous Premiums
40.1 Continuous Whole Life Policies
40.2 n−year Term Policies
40.3 Continuous n−year Endowment Insurance
40.4 Continuous n−year Pure Endowment
40.5 Continuous n−year Deferred Insurance
40.6 Continuous n−year Deferred Whole Life Annuity
41 Fully Discrete Benefit Premiums
41.1 Fully Discrete Whole Life Insurance
41.2 Fully Discrete n−year Term
41.3 Fully Discrete n−year Pure Endowment
41.4 Fully Discrete n−year Endowment
41.5 Fully Discrete n−year Deferred Insurance
41.6 Fully Discrete n−year Deferred Annuity-Due
42 Benefit Premiums for Semicontinuous Mod-
42.1 Semicontinuous Whole Life Insurance
42.2 Semicontinuous n−year Term Insurance
42.3 Semicontinuous n−year Endowment
42.4 Semicontinuous n−year Deferred Insurance
45 Percentile Premium Principle
Benefit Reserves
46 Fully Continuous Benefit Reserves
46.1 Fully Continuous Whole Life
46.1.1 Reserves by the Prospective Method
46.1.3 Retrospective Reserve Formula
46.2 Fully Continuous n−year Term
46.3 Fully Continuous n−year Endowment
46.4 Fully Continuous n−year Pure Endowment
46.5 n−year Deferred Whole Life Annuity
47 Fully Discrete Benefit Reserves
47.1 Fully Discrete Whole Life Insurance
47.2 Fully Discrete n−year Term Insurance
47.3 Fully Discrete n−year Endowment
47.4 Fully n−year Deferred Whole Life Annuity
48 Semicontinuous Reserves
50 Reserves for Fully Discrete General Insur-
51 Reserves for Fully Continuous General In-
53 Miscellaneous Examples
54 Benefit Reserves at Fractional Durations
Multiple Life Models
56 The Joint-Life Status Model
56.1 The Joint Survival Function of T(xy)
For the joint survival function of T(xy), we have
57 The Last-Survivor Status Model
58 Relationships Between T(xy) and T(xy)
59 Contingent Probability Functions
61 Special Two-life Annuities: Reversionary
63 Joint Distributions of Future Lifetimes
Multiple Decrement Models
64 The Continuous Case
65 Associated Single Decrement Models
66 Discrete Multiple-Decrement Models
67 Uniform Distribution of Decrements
68 Valuation of Multiple Decrement Benefits
70 Expense-Augmented Premiums
71 Types of Expenses
72 The Mathematics of Asset Share
73 Introduction to Markov Chains Process
74 Longer Term Transition Probabilities
75 Valuation of Cash Flows
75.1 Cash Flows Upon Transitions
75.2 Cash Flows while in State
75.3 Benefit Premiums and Reserves
76 The Poisson Process
77 Interarrival and Waiting Time Distributions
79 Non-Homogeneous Poisson Process
80 Compound Poisson Process
81 Conditional Poisson Processes
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Exam MLC Finan

Exam MLC Finan

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Published by Iryna Vilensky

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Published by: Iryna Vilensky on Sep 21, 2011
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hi Iryna, This is indeed a great work from u,seriosly,am in an undeveloped nation n dont have a credit card but i need the 54 benefit reserves at fractional durations.could u help by sending it to my e-mail box please.....thanx and God bless ........pearcelinks@yahoo.co.uk
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