Financial mathematics for actuaries

• Main Authors: CHAN, Wai-Sum, TSE, Yiu Kuen
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2021
• Subjects: actuarial science; economics and finance; Econometrics; Numerical Analysis and Computation
• Online Access: https://ink.library.smu.edu.sg/soe_research/2745
• Institution: Singapore Management University

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.