Financial Mathematics A Study Guide for Exam FM eBook Alexander Solla
Download As PDF : Financial Mathematics A Study Guide for Exam FM eBook Alexander Solla
Financial Mathematics A Study Guide for Exam FM is more than just a study manual. It is a textbook covering all of the essentials you will need to pass the Society of Actuaries' Exam FM. It covers
- the theory of interest
- annuities and other structured cash flows
- loans and bonds
- financial derivatives, including futures, swaps, and options
- asset-liability management
Financial Mathematics includes 150 problems and solutions, helpful hints and exam tips, and a challenging, realistic practice exam, so that you can be confident that you have mastered the syllabus. Financial Mathematics will be the foundation of your actuarial exam success. Don't wait, get it today!
Financial Mathematics A Study Guide for Exam FM eBook Alexander Solla
Has good explanations for the concepts entailed but not enough questions.Product details
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Financial Mathematics A Study Guide for Exam FM eBook Alexander Solla Reviews
This book is plagued by poor organization and formatting errors from the start. Symbols are introduced, such as capital phi, without explanation for what they represent. The base for logs is not given -- I assumed it was base 10, but reading other sites looks like it was meant to be ln.
As another reviewer pointed out, this is not a textbook to teach yourself. It has some merit as a study guide, explaining concepts in a way different than other sources. In my estimation, it is marginally more helpful than misleading -- just be sure to correlate the information with other sources.
I used this and the Actex manual to pass Exam FM on my first try. I think this book, plus the SOA sample problems, would have been enough. It covers the theory really well (especially time value, and all the derivatives stuff), and has lots of good problems. I especially liked the problems on annuities -- even though some of them weren't "exam style" -- because they made me practice the kinds of sums that could be on the exam. The book seemed to have a lot of problems on duration (more than the syllabus), but that kind of makes sense since "hard" duration problems can cover multiple learning objectives. I like that it was self-contained. I like that it is focused on the exam, and gets to the point. I had never taken classes in finance before, but I understood everything with no confusions.
I think the Actex manual was unnecessary. It didn't cover the theory at all, and kept referring to McDonald for financial derivatives. And half of the problems were just SOA sample problems anyway. And for all that, a new Actex manual is $125!
OK
This book is definitely not for a person who does not understand the concepts. Although it claimed to be a textbook rather study guide, it is really just a study guide. A textbook is needed.
Has good explanations for the concepts entailed but not enough questions.
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