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If you are preparing for actuarial exam 2.2 I have a copy of “Neill” in my cupboard!


The Treasury has published a list of the actuarial exams and the topics to be included in the syllabus for 2012. For each subject, recommended textbooks are given. Sadly a reflection on the development of actuarial training here, most of them are in English (the main exceptions to this are subjects 1.2 (basic economics) and 2.1 (accounting and financial reporting).

Registered users of this site can access a translation of the exam syllabus here.

An “old friend”, the textbook I used for Life Contingencies back in 1988 (probably around the time some of the candidates for the Turkish exam were born) for the Institute of Actuaries’ exams, appears on the list for exam 2.2 (life insurance mathematics). When first designing a year-one course for my masters students at Bahçeşehir University I brought it with me to Turkey, and I have a copy gathering dust in a cupboard.

AJ Russell, who reviewed the textbook for the Journal of the Institute of Actuaries in 1978, wrote that “the author has achieved something of a minor miracle in encompassing the whole of this very extensive subject within the confines of one volume … the achievement is all the more remarkable in that each chapter contains a large number of worked examples and exercises for the students.”

Amazon.com shows it as “7 used copies available from $124.78”. Applying the principles I learned in Financial Mathematics I can see that this would equate to a 6% p.a. return – not very high considering alternative returns for the period in question.

But, I don’t think any Turkish student will pay nearly 50% of the minimum wage for an actuarial textbook, so perhaps I should instead consider loaning it out to interested parties.

Sadly, before I get inundated with requests from Turkish students, I don’t have McCutcheon & Scott, nor a copy of Bowers, both of which also appear on the list.

Tags: 2012 | actuaries | exams |
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