PLEASE NOTE: THE SOA MFE EXAM SYLLABUS FOR THE JULY 2017 EXAM WILL BE MODIFIED. THIS MATERIAL IS APPROPRIATE IF YOU ARE TAKING THE NOVEMBER 2016 OR MARCH 2017 MFE EXAM. INFORMATION REGARDING THE MATERIAL FOR THE JULY 2017 AND LATER EXAMS WILL BE AVAILABLE SOON.
The ActuarialBrew.com MFE/3F Study Manual is a comprehensive, stand-alone study manual. The Study Manual provides a detailed explanation of the required material that helps you quickly understand the concepts as you prepare for the exam.
The Study Manual covers all of the Exam MFE/3F learning objectives with a special focus on:
• difficult concepts
• areas that are especially likely to be tested.
Please note that the Study Manual contains some worked examples but the approximately 650 Questions are available as a separate product. Student may choose whether or not to bundle the Study Manual and Questions together.
Free email support is provided to students who purchase our MFE/3F Study Manual. We provide quick responses to questions because we are dedicated to helping our customers pass the exam.
The MFE/3F Study Manual succinctly describes the more straightforward concepts, and it explains the confusing concepts in more detail as needed. Our goal is to prepare you for the exam as efficiently as possible.
The following chapters cover the required reading for Exam MFE/3F:
- Chapter 01: Put-Call Parity and Replication
- Chapter 02: Comparing Options
- Chapter 03: Binomial Trees: Part I
- Chapter 04: Binomial Trees: Part II
- Chapter 05: Lognormally Distributed Prices
- Chapter 06: Histograms and Normal Probability Plots
- Chapter 07: The Black-Scholes Formula
- Chapter 08: The Greeks and Other Measures
- Chapter 09: Delta-Hedging
- Chapter 10: Exotic Options: Part I
- Chapter 11: Exotic Options: Part II
- Chapter 12: Monte Carlo Simulation
- Chapter 13: Volatility
- Chapter 14: Brownian Motion
- Chapter 15: The Sharpe Ratio and Itô’s Lemma
- Chapter 16: The Black-Scholes Equation
- Chapter 17: The Black Model for Options on Bonds
- Chapter 18: Binomial Short Rate Models
- Chapter 19: Continuous-Time Models of Interest Rates
Joe Francis, FSA, CFA and Chris Ruckman, FSA
Ruckman and Francis are the co-authors of Financial Mathematics – A Practical Guide for Actuaries and Other Business Professionals, which is an approved text of the Society of Actuaries for Exam FM. The authors each have over 10 years of experience in the actuarial education field. They each also have almost 15 years of experience working in the insurance industry.
Francis has been teaching MFE/3F seminars since the exam was introduced in 2007. Francis also teaches financial mathematics as the actuary-in-residence at Indiana University – Purdue University Fort Wayne.