Description: Arguments for establishing a monetary system based on an aggregate commodity standard.

Description: This panel discussion defines inflation, discusses inflationary outlook in the near future, the psychological effect of inflation on savings habits, trends, industry responses, and effects on agent compensation, interest rates and expense factors.

Description: Part II of this discussion focuses on current investment and funding practices for pension plans. Taken from the March 2005 issue of the Bulletin of the Canadian Institute of Actuaries.

Description: This SOA e-course shows you how to use financial modeling to assess or mitigate risk. It covers derivatives pricing, range of outcomes and more.

Description: John Shuttleworth explains why our exam syllabus needs updated and shares examples of inconsistencies in the material and actual financial economics. Edward Friend responds to this article.

Description: R. Evan Inglis, the new chairperson of the SOA/AAA Joint Pension Finance Task Force, shares with us his view of the important pension finance issues facing actuaries and the task force’s vision of how pension finance can strengthen the actuarial profession.

Description: Since insurance contract liabilities are uncertain in amount, an estimate is required. And under most accounting frameworks, the estimate of an uncertain amount should contain some sort of margin for uncertainty. This paper provides a mathematical connection between that margin and the market price of risk as measured by the cost of capital. The connection makes use of the theory of utility and an exponential utility curve.

Description: Feature article discussing the 2009 price action - periods of extreme distress and incredible euphoria across the global financial markets. The reversals experienced from asset class lows to their highs have not been seen in decades.

Description: This note is labeled actuarial because it deals extensively with the force of interest, a concept which is characteristically of concern to the actuarial community. The authors’ personal point of view is that we should modify the basic definition of the compound interest.