eBook - ePub

Financial Mathematics for Actuaries

Name: Financial Mathematics for Actuaries
ISBN: 9789813224698

Wai-Sum Chan,

Yiu-Kuen Tse;;;,

372 pages
English
ePUB (mobile friendly)
Available on iOS & Android

eBook - ePub

Financial Mathematics for Actuaries

Wai-Sum Chan,

Yiu-Kuen Tse;;;,

About this book

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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.

--> Contents:

Interest Accumulation and Time Value of Money
Annuities
Spot Rates, Forward Rates and the Term Structure
Rates of Return
Loans and Costs of Borrowing
Bonds and Bond Pricing
Bond Yields and the Term Structure
Bond Management
Interest Rates and Financial Securities
Stochastic Interest Rates

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--> Readership: Undergraduate students in actuarial science, quantitative finance, financial engineering and quantitative risk management, and students taking exams in financial mathematics with professional actuarial bodies. -->
Accumulation Function;Annuity;Asset-Liability Management;Bond;Convexity;Financial Mathematics;Forward Rate;Full Immunization;Future Value;Internal Rate of Return;Macaulay Duration;Present Value;Redington Immunization;Spot Rate;Target-Date Immunization;Term Structure Key Features:

Key results are clearly derived, emphasizing on both mathematical rigor and economic intuition
Provides numerous examples and exercises. Links discussions to real financial market data, such as historical term structure, and traded financial securities. Instructors who have adopted the book as the main text of their course may obtain the solution manual to all exercises in the book from the authors upon request
Practical computations are illustrated using Excel financial functions

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Yes, you can access Financial Mathematics for Actuaries by Wai-Sum Chan, Yiu-Kuen Tse;;; in PDF and/or ePUB format, as well as other popular books in Business & Financial Engineering. We have over one million books available in our catalogue for you to explore.