ACTUARIAL MATHEMATICS NOTES INCLUDING LIFE TABLE

May 23rd, 2016
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This books gives a detailed notes of actuarial mathematics together with solved problems

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1Actuarial Mathematics IDraft Lecture Notes ByMWANGI E.MDepartment of Statistics and Actuarial ScienceDEDAN KIMATHI UNIVERSITY OF TECHNOLOGYSeptember, 2010Aim of the Course: This course introduces the life table, the oldest actuarial model forcontingencies (e.g. survival, death, sickness) relating to human life and combines this withfinancial mathematics in order to calculate values for annuities and life assurance policies forone life.Syllabus: Survival models and the life table including select mortality functions. Population theory: complete and curtate expectation of life, central death rates, and stationarypopulation including average ages. Determination of exposure to risk by the census method,graduation methods and applications; Formulae for means and variances of assurances andannuities; commutation functions; premiums; net premiums; provisions; joint life benefits.Course Description1. The life tables including select mortality functions.1.1 The Mortality experience1.2 The Mortality table1.3 Rate of Mortality1.4 The graph of lx1.5 Force of Mortality, x1.6 Estimation of x from the Mortality table1.7 Interpolation for Fractional ages1.8 The assumption of a uniform distribution distribution of deaths1.9 Laws of Mortality1.10 Select, ultimate and aggregate Mortality tables2. Population Theory2.1 Complete and Curtate expectation of life2.2 Central death rates, mx2.3 Relationships between mx and qx2.4 Stationary population including avera

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