Description
Book Synopsis: This book presents in a very compact way the fundamental aspects of financial mathematics. It provides the key concepts and tools a student needs to master the Exam FM of the Society of Actuaries (SOA) and the Exam 2 of the Casualty Actuarial Society (CAS). This text benefits from the vision and experience of the author, who is a professor who has taught finance, insurance, and risk management for many years. The author is also a Fellow of the Society of Actuaries. Students interested in econometrics, finance, statistics, mathematics, or other fields, will also find this book a useful tool to help them further their studies. This book can also be warmly recommended as a prerequisite reading to the students who consider taking, or are in the process of taking, the Chartered Financial Analyst (CFA) exams. Indeed, the fixed income and company valuation material studied in the CFA syllabus is fundamentally based on the financial mathematics results shown in this book. This text does not just present the material; it furthers an understanding of the foundations of financial mathematics. This book does not include exercises because it is designed to be used with the (long) series of exercises made freely available by the Society of Actuaries. The tables in the appendix link the exercises of the Society of Actuaries with the equations in the book. These tables can be a very convenient tool for providing hints for the exercises that the student cannot solve - instead of going directly to the solutions. The order in which the contents of this book are presented mostly respects the order of the Society of Actuaries and Casualty Actuarial Society syllabi. Very few adjustments were made to this order and they were done for pedagogical improvement reasons only. This text is the second one in a series dedicated to actuarial associateship exams. In each of these books, conceptual links between the contents of the various exams are provided. This book was also written in such a way that you can use it throughout your career. This book is the book the author would have liked to have when he took the Exam FM of the Society of Actuaries. It contains all the formulas that are useful to solve the official exercises of the SOA. This book is compact, theoretically solid, and not verbose. To benefit fully from this book, a mathematical background of at least one year of calculus after A-level is needed.
Details
Looking to master the Exam FM of the Society of Actuaries or Exam 2 of the Casualty Actuarial Society? Look no further than our comprehensive book, Financial Mathematics: Key Concepts and Tools. Designed to provide all the fundamental aspects of financial mathematics in a compact and accessible way, this book is a must-have resource for any student aspiring to excel in these exams. Written by a professor with years of experience in finance and risk management, this book offers valuable insights and knowledge to help you succeed.
Not only is this book essential for acing your exams, but it is also a valuable tool for students in various fields such as econometrics, finance, statistics, and mathematics. It serves as a solid foundation for further studies and can be a recommended prerequisite for those considering the Chartered Financial Analyst (CFA) exams. The financial mathematics concepts covered in this book are crucial for understanding fixed income and company valuation, which are key topics in the CFA syllabus.
Unlike other textbooks, our focus is not just on presenting the material but on developing a deep understanding of the foundations of financial mathematics. We have intentionally excluded exercises from this book as the Society of Actuaries provides a series of exercises to accompany it. However, we have included tables in the appendix that link these exercises with the corresponding equations in the book. These tables serve as a valuable tool for providing hints and guidance when you find yourself stuck on a difficult exercise.
This book follows the order of the Society of Actuaries and Casualty Actuarial Society syllabi, with only a few pedagogical improvements made to enhance the learning experience. It is part of a series dedicated to actuarial associateship exams, providing conceptual links between the various exams. Whether you are just starting your career or have years of experience, this book is written to be a lifelong companion.
If you want to save time and ensure you have all the formulas you need to solve the official exercises of the Society of Actuaries, this book is a must-have. It is compact, theoretically solid, and avoids unnecessary verbosity to get straight to the point. While a mathematical background of at least one year of calculus after A-level is recommended, this book breaks down complex concepts into digestible explanations that will benefit any dedicated student.
Don't miss out on this invaluable resource for mastering financial mathematics. Get your copy of Financial Mathematics: Key Concepts and Tools today.
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