AMS 593, Financial Mathematics
Accumulation functions, yield rates, annuities, loan repayment, term structure of interest rates/spot rates/forward rates, options, duration/convexity.  This course follows the syllabus for Financial Mathematics (FM) Exam of the Society of Actuaries and prepares students to pass the FM Exam.

3 credits

Textbook: Mathematical Interest Theory, by J. Daniel and L. Vaaler, 7th Edition, Pearson
ISBN#: 9780131472853

Actuarial Exam: The material in this course is the basis of the second actuarial exam, Exam FM, of the Society of Actuaries . For more details about actuarial preparation at Stony Brook see Actuarial Program

Fall Semester



THIS COURSE IS ALSO OFFERED DURING THE SUMMER SESSION. SEE THE SUMMER SESSION SCHEDULE.