Description: Our 13 risk theory seminars, to introduce Part 5A candidates to the new material were strongly supported, and, according to 109 questionnaires since received, were popular. Prevailing opinions were that these sessions boosted attendees confidence in their ability to continue studying on their own, and their chances of passing the exam. From The Actuary VOL. 16, No. 6

Description: Article announcing the results of the Product Development Section’s elections.

Description: This article describes activities of the Board of Governors to strengthen the role of research within the SOA. The Board actions include approving two additional professional staff positions for the Research Department and including $150,000 in a Research Development Fund to serve as seed money for research projects.

Description: This article describes opportunities and challenges presented to Corporate Actuaries caused by swings in investment gains and losses, the cyclical nature of health insurance results, and increased investments in affiliates which divert use of surplus increase from organic growth to acquisitions. margins were much higher

Description: This Is a book review of 'Lebensversicherungsmathematik' by Hans U. Gerber. The book, written in German, is directed to younger readers who take pleasure in applied mathematics and who wish an introduction to life insurance mathematics. A well-organized and elegant introduction awaits their reading.

Description: This article describes the activities and results of an SOA Task Force on Expansion of Mortality and Morbidity Statistics which was formed to review the mortality and morbidity research undertaken and the statistics published outside the recognized actuarial organizations.

Description: One of the most fundamental concepts in actuarial practice is the time value of money. For any work in which future cash flows are allowed for, such as reserving or pricing, it is natural to discount to present values so that an appropriate amount of money can be set aside today, allowing for future investment returns. This article discusses yield curve extrapolation methods along with the benefits and drawbacks of these methods.

Description: Letter from the new chairman of the Technology Section Council introducing the new council members.

Description: The brief from the editor of Expanding Horizons for this essay was to give some personal reflections on how actuarial education and research influence actuarial practice.

Description: This article provides an overview of the new Financial and Health Economics module now requried for all FSA's.