March 2019 - Infinity is Really Big

March 28, 2019March 28, 2019

Axiomatic Probability and Conditional Probability

New Videos: Videos #5 and #6 on Probability for Actuarial Exam 1/P

Mathematics is built on an axiomatic foundation. What does this mean? In a nutshell, it means that every topic in mathematics is based on both undefined terms and on statements that are assumed to be true.

Upon hearing this, many people wonder “how can this be … Read the rest

March 25, 2019March 28, 2019

Studying for Exam LTAM Series

My Background and Your Prerequisites

This post is the first in a series about studying for Actuarial Exam LTAM — Long-Term Actuarial Mathematics. This exam is basically equivalent to the exam previously labeled Exam MLC — Models for Life Contingencies.

Back in the year 2005, I studied for and passed actuarial Exams P and FM (Exams 1 and 2), on … Read the rest

March 22, 2019March 25, 2019

De Morgan’s Laws and Commutative Diagrams

New Videos: Videos #3 and #4 on Probability for Actuarial Exam 1/P

As I emphasized in my most recent post “Venn Diagrams and Probability Notation“, simple probability problems are often best solved with pictures and basic logic, but more complicated problems may require formulas.

We are definitely not at the point in my video series where more complicated … Read the rest

March 20, 2019October 30, 2019

Venn Diagrams and Probability Notation

New Videos: Videos #1 and #2 on Probability for Actuarial Exam 1/P

Visualizing probabilities as areas in a Venn diagram.

Sometimes people think that fancy notation and formulas must always be relied upon to solve probability problems. This is definitely not the case, however. Sometimes visuals, such a Venn diagrams, are good enough to help you get the

… Read the rest

March 13, 2019March 13, 2019

New Video: Immunization, Part 7

Balancing Cashflows is Good, Prioritization of God in Life is Even Better

My newest video continues my series on financial mathematics for actuarial exam 2/fm preparation (it is Video #175 of that series). It also continues the topic of the latest videos, which is immunization of liability cashflows by asset cashflows.

Furthermore, I continue to make use of a spreadsheet … Read the rest

March 1, 2019March 1, 2019

New Video: Internal Rate of Return

Lecture 5 on Financial Mathematics for Actuarial Science

Financial Math for Actuaries, Lecture 5: Internal Rate of Return (IRR), a.k.a. Yield Rate

I have been working on developing video resources for Bethel University‘s course on Financial Mathematics for Actuarial Science for the past couple of years.

Mostly this has consisted of making many very detailed problem-solving and conceptual videos … Read the rest