Hello.  Sign In
 Cart (0 items)

Product Details

BTDT Study Manual for Exam FM, 2018 Edition, by Dr. Krzysztof Ostaszewski, FSA, FSAS, CERA, MAAA, CFA
Author/Publisher: Ostaszewski / Ostaszewski
Product Type: 
Availability: In-Stock
View Sample View Additional Sample
BTDT Study Manual for Exam FM, 2018 Edition - ELECTRONIC [1 YR License/ Print up to 2 copies*/ NO RETURNS] - $100.00
BTDT Study Manual for Exam FM, 2018 Edition - PRINTED [NO RETURNS] - $100.00

This manual can be used for all 2018 exams

NEW eManual technology for protected PDFs!!!

  • Access content from any device, anywhere
    • Online in your Actuarial Bookstore account/web browser
    • Offline via the FREE desktop player (pc or mac)
    • Online/Offline via mobile application (android or iPhone)
  • Take notes and highlight content
  • Use available content immediately upon confirmation of your order
  • Some restrictions do apply:
    • Access through “My Account/My Learning Tools” section of your account
    • 1 Year License
    • Single User (sharing and/or resale is prohibited)
    • Access to content on up to four devices
    • Permission to print up to TWO copies of the document total (*printing requires use of the offline desktop player - free software download)
    • Use off-line for up to 5 days at a time

Copyright rules apply to printed and digital content.  Content may not be shared, sold or manipulated in any way. Copyright infringement is in violation of the SOA Code of Professional Conduct and can result in discipline procedures.  

The BTDT Course FM Study Manual by Dr. Krzysztof Ostaszewski covers the entire Course FM. All key formulas and ideas to remember are discussed and explained. This is followed by 20 practice examinations, each with 35 problems, with complete detailed solutions. 

Table Of Contents:
1. Fundamental Concepts Of The Theory Of Interest
2. Cash Flows And Interest Measurement In A Fund
3. Annuities
4. Loan Amortization
5. Bonds And Other Securities
6. Duration
7. Convexity, Applications Of Duration And Convexity
8. Classical Immunization
9. The Yield Curve And Multivariate Immunization
10. Common Stocks, Preferred Stocks, Their Durations, And Short Sales
11. Determinants of Interest Rates
12. Swaps

Author biography
Dr. Krzysztof M. Ostaszewski, PhD, FSA, FSAS, CFA, CERA, MAAA, is the Actuarial Program Director at Illinois State University, a Center of Actuarial Excellence and winner of the Casualty Actuarial Society University Award. Dr. Ostaszewski was also the Director for Life and Pensions Research at the Geneva Association, International Association for the Study of Risk and Insurance Economics, in the period 2011-2013. He has taught actuarial science at Illinois State University, New England Actuarial Seminars, University of Louisville, University of Ulm, Washington University in St. Louis, EM Lyon in France, and Technical University of Lodz in Poland. He has also taught Summer Actuarial School in Poland, and Actex Professional Development Seminars. Dr. Ostaszewski has published four research monographs in actuarial mathematics, two in mathematics, was a Fulbright Research Fellow and a Fulbright Senior Specialist, and has published widely, including journals such as Journal of Risk and Insurance, Proceedings of the American Mathematical Society, American Economic Review, North American Actuarial Journal, and many others. For his research work, he was the recipient of the prestigious Mehr Award of the American Risk and Insurance Association in 2005 and the Hardigree Award of the Western Risk and Insurance Association in 2003.

Dr. Ostaszewski provides a free YouTube channel with continuously added practice problems at:

Questions? Email the author at:

All Errata for Dr. Ostaszewski’s work can be found at:


5 Stars
4 Stars
3 Stars
2 Stars
1 Stars
Average Rating: 3.3 stars
7 review(s)

Please sign in to write a review. Click here to proceed.

Very well presented and fully explained. It helps me to be prepared for the exam.
I did not have any prior experience with financial mathematics, so much of this material was very new to me. I recommend others in my position have an interest theory textbook available to give supplementary explanation of the subject matter. There is a thorough treatment of the subject matter, but in summary form. Sometimes I needed more reading of material to understand the topic at hand. Other times, the brevity of this source was easier to digest. I think the strength of this product is in the exhaustive sample questions, sample tests, and examples. The rigor of the problems and the detailed explanations are very informative in the application of the subject. This is the source to have if you are in need of practice problems.
Hard to follow, only buy this textbook if you have a good background knowledge of financial management. Huge letdown, and waste of my $105. DO NOT BUY THIS TEXTBOOK!!
This is not nearly as good as his ASM manual for P. Practice exams have many questions on topics not even on the syllabus anymore.
there are better manuals. conceptual explanations, i felt, should have been more in-depth and easier to read.
This is the only study material that I used before taking the exam. I love having sooo many practice exams. Dr. Ostaszewski's manual prepare you for a 10 so that you will get at least a 6. I would recommend this manual to anyone.
This manual is VERY VERY VERY concise. all the material is covered in ONLY 89 pages(with minimal examples/practice problems), the other 500+ pages are practice exams. I had no previous finance knowledge, so this was WAY too concise for me to grasp concepts. But the nice thing is 18 practice exams, which i will us after i learn this material through a different manual.