Exam FM
The primary learning outcome of this course is to prepare students for Exam FM offered by the Society of Actuaries
Time Value of Money
Recognize, understand, and compute problems relating to time value of money, including simple and compound interest, present and future value, and nominal and effective rates of interest
Annuity
Recognize, understand, and compute problems relating to annuities with payments that are not contingent, including annuity-immediate, annuity-due, perpetuity, and arithmetic or geometric increasing payment annuity
Loans
Recognize, understand, and compute problems relating to loans, including principal, interest, term of loan, outstanding balance, final payment, amortization, and sinking fund
Bonds
Recognize, understand, and compute problems relating to bonds, including price, redemption value, par value, coupon and coupon rate, yield rate, callable and non-callable, and accumulation of discount
General Cash Flow
Recognize, understand, and compute problems relating to general cash flows and portfolios, including yield rate and rate of return, current value, convexity, yield curve, and stock price and dividend
Immunization
Recognize, understand, and compute problems relating to immunization, including cash �ow matching, full immunization, and Redington immunization
General Derivatives
Recognize, understand, and compute problems relating to general derivatives, including derivatives, ask and bid price, short selling, stock index, spot price, credit risk, and margin
Additional Understanding
Recognize, understand, and compute problems relating to additional understanding of options, hedging and investment strategies, forwards and futures, and swaps as time in class permits
