Subject of Talk
Testing of Normality
The most important developments in financial mathematics over the past few decades are in the use of derivatives and modelling. In an overwhelming majority of cases, normal distribution is assumed. Introduced here are some of most popular and powerful tests whether such an assumption is justified. They include Anderson-Darling test, Cramer von-Misés test, D¡¦Agostino¡¦s K2 test, and Jaque-Bera test. Interestingly, the well-known tests such as Kolmogorov test and £q2 test are not used by professionals for being not powerful enough.
Speaker Biography
Peter LUK

Peter is the first person to qualify as an actuary in Hong Kong, in 1972. A Fellow member of the Institute of Actuaries (England), a Fellow of the Institute of Actuaries of Australia and a Fellow of the Society of Actuaries (USA), he helped found the Actuarial Society of Hong Kong in the early 1990s. He was Chief Actuary and/or CFO of several major life insurance companies before became CEO of Plan-B Consulting Limited. He is an INED (Independent Non-executive Director) of PICC Property Casualty Company Limited, the largest non-life insurance company in China and an INED of LIM China Master Fund SPC Limited.

He has been an advisor to several universities, both in Hong Kong and in China, on actuarial subjects. He has been an advisor to the China Insurance Regulatory Commission on several occasions. He is also a member of SFC¡¦s investment-linked insurance committee. He is a regular speaker at conferences and seminars to actuaries, security analysts, fund managers and other professionals on subjects related to insurance and finance.