3.00 Credits
Presents mathematical models in financial mathematics and interest theory, and how these concepts are applied in calculating present and accumulated values for various streams of cash flows as a basis for use in reserving, valuation, pricing, asset/liability management, investment income, capital budgeting, and valuing contingent cash flows. Financial instruments, including derivatives, and the concept of no-arbitrage are covered. This course covers materials for the second actuarial exam, Exam 2 ? Financial Mathematics (FM).
Prerequisite:
MATH170