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This book provides a thorough understanding of the fundamental
concepts of financial mathematics essential for the evaluation of
any financial product and instrument. Mastering concepts of present
and future values of streams of cash flows under different interest
rate environments is core for actuaries and financial economists.
This book covers the body of knowledge required by the Society of
Actuaries (SOA) for its Financial Mathematics (FM) Exam.The third
edition includes major changes such as an addition of an 'R
Laboratory' section in each chapter, except for Chapter 9. These
sections provide R codes to do various computations, which will
facilitate students to apply conceptual knowledge. Additionally,
key definitions have been revised and the theme structure has been
altered. Students studying undergraduate courses on financial
mathematics for actuaries will find this book useful. This book
offers numerous examples and exercises, some of which are adapted
from previous SOA FM Exams. It is also useful for students
preparing for the actuarial professional exams through self-study.
This book provides a thorough understanding of the fundamental
concepts of financial mathematics essential for the evaluation of
any financial product and instrument. Mastering concepts of present
and future values of streams of cash flows under different interest
rate environments is core for actuaries and financial economists.
This book covers the body of knowledge required by the Society of
Actuaries (SOA) for its Financial Mathematics (FM) Exam.The third
edition includes major changes such as an addition of an 'R
Laboratory' section in each chapter, except for Chapter 9. These
sections provide R codes to do various computations, which will
facilitate students to apply conceptual knowledge. Additionally,
key definitions have been revised and the theme structure has been
altered. Students studying undergraduate courses on financial
mathematics for actuaries will find this book useful. This book
offers numerous examples and exercises, some of which are adapted
from previous SOA FM Exams. It is also useful for students
preparing for the actuarial professional exams through self-study.
Financial Mathematics for Actuaries is a textbook for students in
actuarial science, quantitative finance, financial engineering and
quantitative risk management and is designed for a one-semester
undergraduate course.Covering the theories of interest rates, with
applications to the evaluation of cash flows, the pricing of fixed
income securities and the management of bonds, this textbook also
contains numerous examples and exercises and extensive coverage of
various Excel functions for financial calculation. Discussions are
linked to real financial market data, such as historical term
structure, and traded financial securities.The topics discussed in
this book are essential for actuarial science students. They are
also useful for students in financial markets, investments and
quantitative finance. Students preparing for examinations in
financial mathematics with various professional actuarial bodies
will also find this book useful for self-study.In this second
edition, the recent additions in the learning objectives of the
Society of Actuaries Exam FM have been covered.
Financial Mathematics for Actuaries is a textbook for students in
actuarial science, quantitative finance, financial engineering and
quantitative risk management and is designed for a one-semester
undergraduate course.Covering the theories of interest rates, with
applications to the evaluation of cash flows, the pricing of fixed
income securities and the management of bonds, this textbook also
contains numerous examples and exercises and extensive coverage of
various Excel functions for financial calculation. Discussions are
linked to real financial market data, such as historical term
structure, and traded financial securities.The topics discussed in
this book are essential for actuarial science students. They are
also useful for students in financial markets, investments and
quantitative finance. Students preparing for examinations in
financial mathematics with various professional actuarial bodies
will also find this book useful for self-study.In this second
edition, the recent additions in the learning objectives of the
Society of Actuaries Exam FM have been covered.
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