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...deal with risks. the Web site of "Be an Actuary," actuaries are defined as experts in (1) evaluating the likelihood of future events; (2) finding creative ways to reduce the likelihood of undesirable events; and (3) decreasing the impact of undesirable events that do occur.

To execute the mission, those who want to become career actuaries must acquire the fundamental mathematics of actuarial science and its associated disciplines, which is covered in Loss Models: from Data to Decision by Klugman et al. (2004); Actuarial Mathematics authored by Bowers et al. (1997); and the like. However a good mathematician is not necessarily a good actuary. Would-be actuaries will benefit from reading material addressing the practical and professional applications of actuarial science. Modern Actuarial Theory and Practice, co-authored by Philip Booth et al., is a contribution in this area. It provides an introduction to the professional applications of modern developments in actuarial science across a range of practice areas, and thus has helped to bridge the gap between the demand and the supply of teaching material on these topics. The subject matter of the book, Investment and Asset Management and Principles of Actuarial Management, are key elements of the Core Syllabus and Guidelines of the International Actuarial Association (IAA), which is advocating the internationalization of actuarial education. Although the authors...

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