Fundamentals of Actuarial Practice-FAP

For more than five decades, Fundamentals of Private Pensions has been the most authoritative text and reference book on retirement plans in the United States. The ninth edition is completely updated and reflects recent developments in retirement plans including the passage of the US Pension Protection Act of 2006 (PPA), the widespread shift toward hybrid and defined contribution plans, and a burgeoning economics and finance research literature on retirement and retirement plans. The volume is organized into eight main sections so the reader may use the volume as a text, a research

Enterprise risk management is a complex yet critical issue that all companies must deal with as they head into the twenty-first century. It empowers you to balance risks with rewards as well as people with processes. But to master the numerous aspects of enterprise risk management, you must first realize that this approach is not only driven by sound theory but also by sound practice. No one knows this better than risk management expert James Lam.

This text provides a basic foundation of knowledge concerning two fundamental building blocks of property/casualty actuarial work: ratemaking and loss reserving. Although the material is of property/casualty origins, the methods presented have potential application in other insurance areas.

The text contains a number of worked examples and end-of-chapter exercises.

The third edition includes overviews of individual risk rating, increased limits factors, and reinsurance. It has been updated to reflect industry changes and includes additional exercises.

This text focuses on the relationships among the various types of values that are associated with individual life and annuity contracts and the links among the various types of values that are associated with these contracts.

For the experienced actuary, this text provides a comprehensive summary of current actuarial practice in the design, pricing and daily maintenance of individual products.