This textbook, in combination with the three study notes, provides a comprehensive explanation of the required interest theory material on the Financial Mathematics (FM) Exam offered by the Society of Actuaries and the Casualty Actuarial Society. The concise explanations in this textbook fully prepare the students for the questions that appear on the FM Exam. Key Concepts are identified throughout the text for easy reference while working practice problems.
This textbook contains over 300 end-of-chapter questions that are written in the style of the multiple choice questions on the FM Exam. Each question has a difficulty rating that can be found at the end of the textbook along with the answer to the question. Fully worked solutions are available as a free download at ActuarialBrew.com/fm-exam/.
The solutions contain step-by-step instructions that demonstrate the quickest and most effective use of the BA-II Plus calculator.
Joe Francis, FSA, CFA and Chris Ruckman, FSA
Francis and Ruckman are also 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 and of the Casualty Actuarial Society for Exam 2. The authors each have over 10 years of experience in the actuarial education field related to financial mathematics. They also each have almost 15 years of experience working in the insurance industry.
Francis has been teaching MFE 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.