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Question on the new materials added to the 2005 exams

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  • Question on the new materials added to the 2005 exams

    Does anyone have any idea of how much of the modern financial analysis (yield curve, spot rates, forward rates, duration, convexity, immunization, and short sales) would be covered in the exam?
    I have an old version ACTEX manual, which does not cover the above contents. I am wondering should I get a new manual, or just find some books and do some readings of that part.
    Thanks.

    (P.S. I don't have textbooks, all I have is the actex manual)

  • #2
    Originally posted by gppbb
    Does anyone have any idea of how much of the modern financial analysis (yield curve, spot rates, forward rates, duration, convexity, immunization, and short sales) would be covered in the exam?
    I have an old version ACTEX manual, which does not cover the above contents. I am wondering should I get a new manual, or just find some books and do some readings of that part.
    Thanks.

    (P.S. I don't have textbooks, all I have is the actex manual)
    I suggest getting something to cover these topics - it will represent a few questions on the FM exam. If you want to take the chance of skipping it altogether and relying on your knowledge on the remainder of the syllabus, then maybe you can try that. But I'm not sure I'd recommend that, especially since you've got over a month and a half left until the exam.

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    • #3
      New material on exam FM

      You really need to get something that covers these topics. There are readings listed in the catalog, and any one of them does the job. The latest edition of the "Journal of Actuarial Practice" has an article "Primer on Duration, Convexity and Immunization", by Gajek, Zwiesler and myself, and if you have access to that journal, this "primer" is a pretty short and intense way to get all these topics, except for short sales, but short sales were always on the exam 2 or 140 before, anyway. New editions or manuals cover these topics. I wrote a study manual sold by New England Actuarial Seminars www.neas-seminars.com, and it contains complete coverage of this, and practice exercises. I also post free exercises on these topics at this web site, with complete solutions -- get them. While you may not like spending money, using an old manual risks having to take the exam again, and that's a half a year of your life. The greatest reward for passing an actuarial exam is not having to take it again.

      If you ever get close to the university library at Illinois State University (140 miles South of Chicago), I have made sure that lower level actuarial exams textbooks are on permanent reserve at the library, for use only in the library. This way you can always study those textbooks at the library. If you are not close to here, you may want to suggest that your college library does the same.

      Good luck. Study hard. Rewards for passing actuarial exams are great.

      Yours,
      Krzys' Ostaszewski

      Originally posted by gppbb
      Does anyone have any idea of how much of the modern financial analysis (yield curve, spot rates, forward rates, duration, convexity, immunization, and short sales) would be covered in the exam?
      I have an old version ACTEX manual, which does not cover the above contents. I am wondering should I get a new manual, or just find some books and do some readings of that part.
      Thanks.

      (P.S. I don't have textbooks, all I have is the actex manual)
      Want to know how to pass actuarial exams? Go to: smartURL.it/pass

      Comment


      • #4
        Thank you guys for the reply.
        I will try to get a new manual.

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