Probability Theory: Key Concepts and Tools for SOA Exam P & CAS Exam 1

In writing this book, Dr. Le Courtois has given all actuarial students--and, indeed, all aspiring actuaries--a remarkable gift. Included within the text are all the relevant Exam 1/P formulas; this saves the candidate from spending hours in making handwritten copies of important information. Be aware that this book is neither a "quick-fix" nor a substitute for the hours of studying that is required in preparation for the exam. Indeed, the text is most useful after one has gained a conceptual grasp of the syllabus material and is prepared to tackle problem sets and the SOA's sample questions.My favorite feature would have to be the appendix, which keys each of the SOA's sample questions (about 328 at the time this review was written) to formulas in the text. This is a much appreciated, non-invasive way of helping the candidate when they feel bogged down or utterly lost on the tougher problems.The only downside to this text is that it doesn't come in hardback, though I hope this will be remedied at some point. I'm eagerly awaiting the release of Dr. Le Courtois's future prelim exam aids.Bottom line: Whether you are studying for Exam 1/P or are already an actuary, YOU NEED THIS BOOK!

I haven't began using the book yet but the first thing I notice when I open the book is that A LOT of the pages aren't attached to the spine of the book. Now, I have to worry about keep track of the pages and keeping them in order.

Love the size of this! It is small and fits in my purse so I can bring to work without worrying about have to carry a big textbook around. Giving 4 stars instead of 5 because the material is a little outdated. As it still has material in it that is not on this year's syllabus and is missing a few topics that are on this year's syllabus. But the old material is still good to know, and I have other study materials to use along with this that cover the topics that are missing!

This book is a fantastic asset for anyone studying for SOA exam P. I passed the exam yesterday and this was the only resource I purchased. I’m very happy to have found it. It is a concise reference for all equations and concepts on the syllabus and is used in conjunction with the 330+ sample problems published by SOA. A table in the back calls out which equations to use for each problem so you can easily fill in the gaps in your own understanding as you come across them.

This text is great at explaining concepts in a very concise fashion!

Only covers formulas without practice problems. Not good for learning but good for reviewing. The ACTEX study guide is a much better purchase.

This is an abbreviated text on probability. You can't learn probability efficiently from it as there are no practice problems in it. The most efficient way to learn probability to the level necessary to do well on Exam P/1 is to solve hundreds of problems that are similar to the exam. For the same price you can buy a used probability textbook which isn't as terse and has worked examples and practice problems. The SOA website has several recommended textbooks and +400 sample problems. Another issue is that the actuarial exams have been changed since this was published, so this book is outdated as of early 2023. My recommendation is to get 2-3 of the probability textbooks recommended by the SOA, do a majority of the problems which have their answers in the back of the book, and then move onto the +400 SOA sample problems.

Always looking to improve and this was fantastic.