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Table Of Contents

Introduction
1.1 The actuarial profession
1.2 The generalised cash flow model
The theory of compound interest
2.1 Simple versus compound interest
2.2 Time-dependent interest rates
The valuation of cash flows
3.1 Accumulation factors and consistency
3.2 Discounting and the time value of money
3.3 Continuous cash flows
3.4 Constant discount rates
4.1 Simple fixed-interest securities
4.2 Securities above/below/at par
4.3 pthly paid interest
5.1 Loan repayment schemes
5.2 Equivalent cash flows and equivalent models
5.3 Fixed, discount, tracker and capped mortgages
An introduction to yields
6.1 Flat rates and APR
6.2 The yield of a cash flow
6.3 General results ensuring the existenceof the yield
Project appraisal
7.1 A remark on numerically calculating the yield
7.2 Comparison of investment projects
7.3 Investment projects and payback periods
Funds and weighted rates of return
9.1 Inflation indices
9.2 Modelling inflation
9.3 Constant inflation rate
10.1 Fixed interest securities and running yields
10.2 Income tax and capital gains tax
10.3 Inflation adjustments
Uncertain payments and corporate
11.1 An example
11.2 Fair premiums and risk under uncertainty
11.3 Uncertain payment
11.4 Pricing of corporate bonds
Life insurance: the single decrement
12.1 Uncertain cash flows in life insurance
12.2 Conditional probabilities and the force of mor-
12.3 The curtate future lifetime
12.4 Insurance types and examples
Life insurance: premium calculation
13.1 Residual lifetime distributions
13.2 Actuarial notation for life products
13.3 Lifetables
13.4 Life annuities
13.5 Multiple premiums
Pricing of equity shares and risk
14.1 Pricing of equity shares
14.2 Individual risk models
14.3 Pooling reduces risk
Premium principles
15.1 Examples from life insurance
15.2 Some elements of the theory of premium prin-
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Lecture Notes on Actuarial Mathematics

Lecture Notes on Actuarial Mathematics

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Published by Christian J Aquino

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Published by: Christian J Aquino on Nov 19, 2011
Copyright:Attribution Non-commercial

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05/30/2013

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