https://www.actuarialninja.com/tags/markov-chains-step-by-step-guide/Recent content in Markov Chains Step-by-Step Guide on Actuarial NinjaHugoen-usTue, 23 Sep 2025 17:41:30 +0000https://www.actuarialninja.com/tutorials/understanding-markov-chains-in-actuarial-science-a-step-by-step-guide-for-soa-exam-c-and-cas-exam-4-preparation/Tue, 23 Sep 2025 17:41:30 +0000https://www.actuarialninja.com/tutorials/understanding-markov-chains-in-actuarial-science-a-step-by-step-guide-for-soa-exam-c-and-cas-exam-4-preparation/<p>Markov chains are a fundamental concept in actuarial science, especially for candidates preparing for the SOA Exam C and CAS Exam 4. At their core, Markov chains model systems that move between different states over time, where the probability of moving to the next state depends only on the current state—not the full history. This “memoryless” property makes them powerful and surprisingly intuitive once you get the hang of it.</p>