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Financial Mathematics for Actuaries

Author

Listed:
  • Wai-Sum Chan

    (The Chinese University of Hong Kong, Hong Kong)

  • Yiu-Kuen Tse

    (Singapore Management University, Singapore)

Abstract

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.

Suggested Citation

  • Wai-Sum Chan & Yiu-Kuen Tse, 2021. "Financial Mathematics for Actuaries," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 12464, December.
    • Handle: RePEc:wsi:wsbook:12464
    as

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    File URL: https://www.worldscientific.com/worldscibooks/10.1142/12464
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    More about this item

    Keywords

    Actuarial exam; FM Exam; SOA; Actuaries; Theory of Interest; Annuities; Bond Pricing; Loans; Borrowing; Financial Mathematics; Annuity-Due; Annuity-Immediate; Duration; Convexity; Interest Rate Swaps; Frequency of Compounding; Perpetuity; Time-Weighted Rate of Return; Dollar-weighted Rate of Return; Yield Rate;
    All these keywords.

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • C88 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Other Computer Software
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)

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