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Financial mathematics for actuaries / Wai-Sum Chan and Yiu-Kuen Tse.

By: Contributor(s): Material type: TextTextPublication details: Singapore : World Scientific, ©2018.Edition: Second editionDescription: xviii, 353 pages ; 25 cmISBN:
  • 9789813224674
Subject(s): DDC classification:
  • 332.0151 23 C454
Contents:
Interest accumulation and time value of money -- Annuities -- Spot rates, forward rates and the term structure -- Rates of return -- Loans and costs of borrowing -- Bonds and bond pricing -- Bond yields and the term structure -- Bond management -- Interest rates and financial securities -- Stochastic interest rates -- Appendix A: A review of mathematics and statistics -- Appendix B: Answers to selected exercises.
Summary: Financial Mathematics for Actuaries is a textbook for students in actuarial science, quantitative finance, financial engineering and quantitative risk management and is designed for a one-semester undergraduate course. Covering the theories of interest rates, with applications to the evaluation of cash flows, the pricing of fixed income securities and the management of bonds, this textbook also contains numerous examples and exercises and extensive coverage of various Excel functions for financial calculation. Discussions are linked to real financial market data, such as historical term structure, and traded financial securities. The topics discussed in this book are essential for actuarial science students. They are also useful for students in financial markets, investments and quantitative finance. Students preparing for examinations in financial mathematics with various professional actuarial bodies will also find this book useful for self-study. In this second edition, the recent additions in the learning objectives of the Society of Actuaries Exam FM have been covered.-publisher's description.
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Includes bibliographical references and index.

Interest accumulation and time value of money --
Annuities --
Spot rates, forward rates and the term structure --
Rates of return --
Loans and costs of borrowing --
Bonds and bond pricing --
Bond yields and the term structure --
Bond management --
Interest rates and financial securities --
Stochastic interest rates --
Appendix A: A review of mathematics and statistics --
Appendix B: Answers to selected exercises.

Financial Mathematics for Actuaries is a textbook for students in actuarial science, quantitative finance, financial engineering and quantitative risk management and is designed for a one-semester undergraduate course. Covering the theories of interest rates, with applications to the evaluation of cash flows, the pricing of fixed income securities and the management of bonds, this textbook also contains numerous examples and exercises and extensive coverage of various Excel functions for financial calculation. Discussions are linked to real financial market data, such as historical term structure, and traded financial securities. The topics discussed in this book are essential for actuarial science students. They are also useful for students in financial markets, investments and quantitative finance. Students preparing for examinations in financial mathematics with various professional actuarial bodies will also find this book useful for self-study. In this second edition, the recent additions in the learning objectives of the Society of Actuaries Exam FM have been covered.-publisher's description.

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