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Recommended Textbooks

ACTEX Academic Series

- A Full Complement of Risk Management Educational Textbooks
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The Academic Series is a collection of textbooks designed with actuarial exam preparation in mind.

These textbooks are popular in college classrooms world-wide and cover all syllabus material for the respective SOA exam. You and your students will appreciate having a course textbook that focuses on the key topics of importance for each exam.

This page contains a quick look at each textbook.

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MFE
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SOA Exam P - Probability

By: Matthew J. Hassett, Ph.D., Donald G. Stewart, Ph.D.

Included in the Course of Reading for SOA Exam P

Focused on applications of probability in the general feild of Risk Management, including insurance, economics, and finance.

  • Past actuarial exam questions at the end of each chapter.
  • Designed for a broad audience including students of mathematical economics, finance and risk management.
  • Focused on real-world problems.
  • A separate solutions manual with detailed solutions to all of the text exercises is also available.

By: Leonard A. Asimow, Ph.D., ASA, Mark Maxwell

Provides the content to serve as the primary text for a standard, two semester advanced undergraduate course in probability and statistics.

This text is listed on the Course of Reading for SOA Exam P and the mathematical statistics component of the new CAS S exam.

  • Accessible to college students simultaneously studying calculus and probability.
  • Content sufficient to serve as primary text for a standard two-semester undergraduate course in advanced mathematical probability and statistics.
  • Detailed examples and 799 exercises.
  • A separate solutions manual with detailed solutions to all of the text exercises is also available.

SOA Exam FM - Financial Mathematics

By: Samuel A. Broverman, Ph.D., ASA

This book has been named as a reference for the Society of Actuaries Exam FM. Also appropriate for non-actuarial finance and business majors.

The leading textbook in interest theory, this publication is the required or recommended textbook in financial mathematics in many university courses.

  • Detailed treatments of the term structure of interest rates, forward contracts of various types, interest rate swaps and financial options and option strategies.
  • Key formulas and definitions are highlighted.
  • Real world current events are included to demonstrate key concepts.
  • A large number of worked examples and end-of-chapter exercises.
  • A separate solutions manual with detailed solutions to all of the text exercises is also available.

SOA Exam MLC - Models for Life Contingencies

By: Stephen Camilli, ASA, Ian Duncan, Richard L. London, FSA

This book is used in many university courses for SOA Exam MLC preparation. It is also an official reference for EA-1.

Ideal for use in a two or three semester university course in basic actuarial science, it covers all life contingency exam topics in a single reference.

  • Presents a variety of stochastic models for the actuary to use in undertaking the analysis of risk.
  • Easy-to-understand explanations and end-of-chapter exercises.
  • A separate solutions manual with detailed solutions to all of the text exercises is also available.

SOA Exam MFE - Models for Financial Economics

At this time ACTEX is looking for authors interested in creating a textbook for the MFE syllabus. Inquire at Stephen@ActexMadRiver.com

SOA Exam C - Construction and Evaluation of Actuarial Models

By: Stephen G. Kellison, FSA, MAAA, Richard L. London, FSA

This text, in combination with Introduction to Credibility Theory, is a valuable reference for those preparing for Exam C.

  • Addresses the topic of loss models, traditionally called risk theory by actuaries, including the estimation of such models from sample data.
  • Estimation of survival models, in both tabular and parametric form, from sample data.
  • Easy-to-follow approach and text exercises.
  • A separate solutions manual with detailed solutions to all of the text exercises is also available.

By: Thomas N. Herzog, ASA, Ph.D.

This text has been named as an approved reference in preparing for the SOA Exam C.

  • Presents a wide variety of credibility models in an easy-to-read style.
  • The Bayesian approach to credibility is emphasized.
  • Contains worked examples and a large number of end-of-chapter exercises.
  • Practical applications of credibility theory are presented in the Appendices.
  • A separate solutions manual with detailed solutions to all of the text exercises is also available.