Probability for Risk Management 2nd Edition

This intermediate probability text focuses directly on applications in financial risk management, such as insurance, economics and finance. Past actuarial exam questions at the end of each chapter help to make it especially appropriate for students interested in actuarial science. Nevertheless, it was designed for a broad audience including students of mathematical economics, finance and risk management, and could be used for a general undergraduate probability course.

This book assumes two previous semesters of calculus, but it is not abstract or proof-oriented, focusing on real-world problems. In addition to helping prepare for exam P, this is an excellent background text for the material included on the SOA and EA-1 Exam.