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  • question about ASM manual

    Does anybody here know whether the 1st edition ASM manual covers the topic of modern financial analysis, i.e. yield curves, spot rates, forward rats, duration, covexity, immunization, and short sales?
    Someone is offering a 1st ed ASM, I wonder if it is a big difference from 2nd ed.
    Thanks.

  • #2
    Originally posted by gppbb
    Does anybody here know whether the 1st edition ASM manual covers the topic of modern financial analysis, i.e. yield curves, spot rates, forward rats, duration, covexity, immunization, and short sales?
    Someone is offering a 1st ed ASM, I wonder if it is a big difference from 2nd ed.
    Thanks.
    The 1st edition covers all of the topics that you mentioned. However, it does not contain questions and solutions from past exams on these topics (except for short sales, which were already on the pre-2005 syllabus), simply because before 2005, the old Course 2 exam did not cover them. (They are covered in Kellison's Chapter 9, which was added to the 2005 syllabus.)

    The 2nd edition added 32 questions and solutions on the Chapter 9 topics, many of which are from more advanced actuarial exams, adapted by me to be suitable for Exam FM/2. Before the date of the May 2005 exam, this material was posted on the ASM web site, but it is no longer available there. The 2nd edition also corrects all of the errata known by its publication date. (Errata are posted on the ASM web site.)
    FSA, MAAA, EA and CEO of Actuarial Study Materials - www.studymanuals.com

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    • #3
      I forgot to mention that the 2nd edition also has an additional original practice exam consisting of 25 questions, with solutions. This makes a total of three practice exams in the 2nd edition.
      FSA, MAAA, EA and CEO of Actuarial Study Materials - www.studymanuals.com

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