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Gordon Enderle
In preparation for SOA Exam FM / CAS Exam 2, the Financial Math for Actuaries: From Rates to Annuities course will give you opportunities to better understand the time value of money through these learning activities:
Read more
In preparation for SOA Exam FM / CAS Exam 2, the Financial Math for Actuaries: From Rates to Annuities course will give you opportunities to better understand the time value of money through these learning activities:
Read more
In preparation for SOA Exam FM / CAS Exam 2, the Financial Math for Actuaries: From Rates to Annuities course will give you opportunities to better understand the time value of money through these learning activities:
- Perform calculations relating to the present value, current value, and accumulated value of cash flows, using rates of interest, rates of discount and the force of interest.
- Calculate the present value, current value, and accumulated value for sequences of non-contingent payments (annuities).
- Reflect payment timing, longevity, and arithmetic/geometric payment changes in the annuity valuation process.
What you'll learn
Those enrolled in Financial Math for Actuaries: From Rates to Annuities will learn:
- To calculate the present value or accumulated value of payments using rates of interest, rates of discount and the force of interest.
- To calculate the present value or accumulated value for sequences of non-contingent payments (annuities).
- To reflect payment timing, longevity, and arithmetic/geometric payment changes in the annuity valuation process.
Register for this course and see more details by visiting:
OpenCourser.com/course/mduf6y/actuarial
What's inside
Learning objectives
- To calculate the present value or accumulated value of payments using rates of interest, rates of discount and the force of interest.
- To calculate the present value or accumulated value for sequences of non-contingent payments (annuities).
- To reflect payment timing, longevity, and arithmetic/geometric payment changes in the annuity valuation process.
- To calculate the present value or accumulated value of payments using rates of interest, rates of discount and the force of interest.
- To calculate the present value or accumulated value for sequences of non-contingent payments (annuities).
- To reflect payment timing, longevity, and arithmetic/geometric payment changes in the annuity valuation process.
Good to know
Good to know
Know what's good ,
what to watch for , and
possible dealbreakers
Introduces essential financial mathematics concepts that are relevant to students planning careers in actuarial science, finance, and related fields
Well-structured and logically sequenced, guiding students from basic concepts to more advanced topics
Helps students develop a strong foundation in the time value of money, which is crucial for accurate financial analysis and decision-making
Provides opportunities to practice and apply concepts through exercises and assignments
Suitable for individuals with a background in mathematics, including algebra, calculus, and statistics
Save this course
Save Financial Math for Actuaries: From Rates to Annuities to your list so you can find it easily later:
Save
Save
Activities
Be better prepared
before
your course. Deepen your understanding
during
and
after
it. Supplement your coursework and achieve mastery of the topics covered
in Financial Math for Actuaries: From Rates to Annuities with these
activities:
Review Time Value of Money Concepts
Show steps
Reinforce your understanding of the fundamental concepts related to the time value of money, which will be essential for success in this course.
Browse courses on
Time Value of Money
Show steps
-
Go through your notes or textbook to revisit the definitions and formulas for present value, future value, and discounting.
-
Solve practice problems to apply the concepts you've reviewed.
Explore Online Tutorials on Financial Mathematics
Show steps
Supplement your learning by seeking out online tutorials that provide clear explanations and demonstrations of financial mathematics concepts.
Show steps
-
Search for reputable online platforms or YouTube channels that offer tutorials on financial mathematics.
-
Watch videos that cover topics relevant to the course.
-
Take notes and pause the videos to practice solving problems.
Form a Study Group with Classmates
Show steps
Collaborate with peers to enhance your comprehension of the course material, share knowledge, and provide support.
Show steps
-
Identify classmates who are interested in forming a study group.
-
Establish regular meeting times and a study schedule.
-
Take turns leading discussions and presenting concepts.
-
Work together to solve practice problems and prepare for exams.
Five other activities
Expand to see all activities and additional details
Show all eight activities
Solve Annuities Practice Problems
Show steps
Gain proficiency in solving annuity problems, which are heavily tested on the SOA Exam FM / CAS Exam 2.
Browse courses on
Annuities
Show steps
-
Find practice problems online or in textbooks.
-
Set a timer and challenge yourself to solve the problems within the given time frame.
-
Review your answers and identify areas where you need improvement.
Attend an Exam Prep Workshop
Show steps
Gain valuable insights and practice from experienced professionals by attending an exam prep workshop specifically designed for the SOA Exam FM / CAS Exam 2.
Show steps
-
Research and find a reputable workshop that aligns with your learning style.
-
Register for the workshop and attend all sessions.
-
Actively participate in discussions and ask questions.
Develop a Study Guide on Annuity Valuations
Show steps
Create a comprehensive study guide that summarizes the key concepts and formulas related to annuity valuations, providing a valuable resource for exam preparation.
Browse courses on
Annuities
Show steps
-
Organize your notes and identify the most important topics.
-
Write clear and concise summaries of the concepts.
-
Include practice problems and solutions to reinforce your understanding.
-
Share your study guide with classmates or online forums.
Develop a Spreadsheet for Annuity Calculations
Show steps
Create a practical tool that automates annuity calculations, enhancing your problem-solving efficiency and providing a valuable resource for future reference.
Browse courses on
Annuities
Show steps
-
Design a spreadsheet template that includes formulas for present value, future value, and other relevant calculations.
-
Test your spreadsheet with different scenarios and verify its accuracy.
-
Customize the spreadsheet with additional features or calculations as needed.
Offer Tutoring or Mentoring to Fellow Students
Show steps
Reinforce your understanding of the material while assisting others, contributing to a positive learning environment.
Show steps
-
Identify opportunities to provide tutoring or mentoring to fellow students who may be struggling with the course material.
-
Prepare for tutoring sessions by reviewing the concepts and practice problems.
-
Be patient and supportive, guiding students through their questions and challenges.
Review Time Value of Money Concepts
Show steps
Reinforce your understanding of the fundamental concepts related to the time value of money, which will be essential for success in this course.
Browse courses on
Time Value of Money
Show steps
Show steps
Show steps
- Go through your notes or textbook to revisit the definitions and formulas for present value, future value, and discounting.
- Solve practice problems to apply the concepts you've reviewed.
Explore Online Tutorials on Financial Mathematics
Show steps
Supplement your learning by seeking out online tutorials that provide clear explanations and demonstrations of financial mathematics concepts.
Show steps
Show steps
Show steps
- Search for reputable online platforms or YouTube channels that offer tutorials on financial mathematics.
- Watch videos that cover topics relevant to the course.
- Take notes and pause the videos to practice solving problems.
Form a Study Group with Classmates
Show steps
Collaborate with peers to enhance your comprehension of the course material, share knowledge, and provide support.
Show steps
Show steps
Show steps
- Identify classmates who are interested in forming a study group.
- Establish regular meeting times and a study schedule.
- Take turns leading discussions and presenting concepts.
- Work together to solve practice problems and prepare for exams.
Five other activities
Expand to see all activities and additional details
Show all eight activities
Solve Annuities Practice Problems
Show steps
Gain proficiency in solving annuity problems, which are heavily tested on the SOA Exam FM / CAS Exam 2.
Browse courses on
Annuities
Show steps
Show steps
Show steps
- Find practice problems online or in textbooks.
- Set a timer and challenge yourself to solve the problems within the given time frame.
- Review your answers and identify areas where you need improvement.
Attend an Exam Prep Workshop
Show steps
Gain valuable insights and practice from experienced professionals by attending an exam prep workshop specifically designed for the SOA Exam FM / CAS Exam 2.
Show steps
Show steps
Show steps
- Research and find a reputable workshop that aligns with your learning style.
- Register for the workshop and attend all sessions.
- Actively participate in discussions and ask questions.
Develop a Study Guide on Annuity Valuations
Show steps
Create a comprehensive study guide that summarizes the key concepts and formulas related to annuity valuations, providing a valuable resource for exam preparation.
Browse courses on
Annuities
Show steps
Show steps
Show steps
- Organize your notes and identify the most important topics.
- Write clear and concise summaries of the concepts.
- Include practice problems and solutions to reinforce your understanding.
- Share your study guide with classmates or online forums.
Develop a Spreadsheet for Annuity Calculations
Show steps
Create a practical tool that automates annuity calculations, enhancing your problem-solving efficiency and providing a valuable resource for future reference.
Browse courses on
Annuities
Show steps
Show steps
Show steps
- Design a spreadsheet template that includes formulas for present value, future value, and other relevant calculations.
- Test your spreadsheet with different scenarios and verify its accuracy.
- Customize the spreadsheet with additional features or calculations as needed.
Offer Tutoring or Mentoring to Fellow Students
Show steps
Reinforce your understanding of the material while assisting others, contributing to a positive learning environment.
Show steps
Show steps
Show steps
- Identify opportunities to provide tutoring or mentoring to fellow students who may be struggling with the course material.
- Prepare for tutoring sessions by reviewing the concepts and practice problems.
- Be patient and supportive, guiding students through their questions and challenges.
Career center
Learners who complete Financial Math for Actuaries: From Rates to Annuities will develop knowledge and skills
that may be useful to these careers:
Actuary
Actuary
Actuaries spend their days evaluating the financial costs of risk and uncertainty. In a day-to-day role, you might price insurance policies, set premiums, or value financial assets. The Financial Math for Actuaries: From Rates to Annuities course provides a solid foundation for a career as an Actuary as it covers the time value of money which is essential for evaluating financial risks.
Investment Analyst
Investment Analyst
Investment Analysts spend their days evaluating the risk and return of different investment options. They might recommend stocks, bonds, or other investments to clients, or manage investment portfolios. The Financial Math for Actuaries: From Rates to Annuities course provides a solid foundation for a career as an Investment Analyst, as it covers topics such as time value of money and annuity valuation, which are essential for understanding investment principles.
Financial Analyst
Financial Analyst
Financial Analysts spend their days analyzing financial data in order to help businesses make optimal decisions. They might evaluate potential investments, make recommendations on how to raise capital, or develop strategies to manage risk. The Financial Math for Actuaries: From Rates to Annuities course provides a solid foundation for a career as a Financial Analyst, as it covers topics such as time value of money and annuity valuation, which are essential for understanding financial markets.
Quantitative Analyst
Quantitative Analyst
Quantitative Analysts use complex mathematical models to help make decisions in the financial industry. They might develop trading strategies, analyze market trends, or assess risk. The Financial Math for Actuaries: From Rates to Annuities course provides a solid foundation for a career as a Quantitative Analyst, as it covers topics such as time value of money and annuity valuation, which are essential for building quantitative models. The course also contributes to the study of the force of interest, which is used in modeling.
Insurance Underwriter
Insurance Underwriter
Insurance Underwriters spend their days evaluating the risk of insurance policies. They might assess the risk of a car accident, a natural disaster, or a medical condition. The Financial Math for Actuaries: From Rates to Annuities course provides a solid foundation for a career as an Insurance Underwriter, as it covers topics such as time value of money and annuity valuation, which are essential for understanding insurance policies and pricing risk.
Financial Modeler
Financial Modeler
Financial Modelers spend their days building and analyzing financial models. They might use these models to forecast financial performance, evaluate investment opportunities, or develop strategies to manage risk. The Financial Math for Actuaries: From Rates to Annuities course provides a solid foundation for a career as a Financial Modeler, as it covers topics such as time value of money and annuity valuation, which are essential for building financial models.
Risk Analyst
Risk Analyst
Risk Analysts spend their days identifying and assessing risks to businesses. They might develop risk management plans, conduct risk assessments, or provide advice to senior management on how to mitigate risk. The Financial Math for Actuaries: From Rates to Annuities course may be useful for a career as a Risk Analyst, as it provides a solid foundation in understanding risk and uncertainty. The course also covers time value of money which is essential for evaluating financial risks..
Accountant
Accountant
Accountants spend their days preparing and analyzing financial statements. They might also provide advice on tax planning and financial management. The Financial Math for Actuaries: From Rates to Annuities course may be useful for a career as an Accountant, as it provides a solid foundation in financial accounting and analysis techniques. It also provides a good overview of time value of money
Auditor
Auditor
Auditors spend their days examining financial records to ensure that they are accurate and complete. They might also provide advice on internal controls and risk management. The Financial Math for Actuaries: From Rates to Annuities course may be useful for a career as an Auditor, as it provides a solid foundation in financial accounting and analysis techniques.
Statistician
Statistician
Statisticians spend their days collecting, analyzing, and interpreting data. They might develop statistical models, conduct surveys, or provide advice on how to design experiments. The Financial Math for Actuaries: From Rates to Annuities course may be useful for a career as a Statistician, as it provides a solid foundation in statistical concepts and data analysis techniques.
Data Analyst
Data Analyst
Data Analysts spend their days collecting, cleaning, and analyzing data in order to help businesses make better decisions. They might identify trends, develop predictive models, or create visualizations. The Financial Math for Actuaries: From Rates to Annuities course may be useful for a career as a Data Analyst. While the course does not teach data analysis techniques, it does cover topics such as time value of money and statistical concepts that can be useful for understanding data and building models.
Investment Banker
Investment Banker
Investment Bankers spend their days advising companies on mergers and acquisitions, raising capital, and other financial transactions. They might also trade stocks, bonds, and other investments for clients. The Financial Math for Actuaries: From Rates to Annuities course may be useful for a career as an Investment Banker, as it provides a solid foundation in understanding financial markets and valuation principles.
Economist
Economist
Economists spend their days studying the economy and making predictions about its future performance. They might analyze economic data, develop economic models, or provide advice to policymakers. The Financial Math for Actuaries: From Rates to Annuities course may be useful for a career as an Economist, as it provides a solid foundation in economic concepts and financial analysis techniques.
Teacher
Teacher
Teachers spend their days educating students in a variety of subjects. They might teach math, science, history, or English. The Financial Math for Actuaries: From Rates to Annuities course may be useful for a career as a Teacher, as it provides a solid foundation in the mathematics of finance. This could be useful to use as a teaching tool to help students understand these important math concepts used in finance and investing.
Management Consultant
Management Consultant
Management Consultants spend their days advising businesses on how to improve their operations, strategy, and financial performance. They might develop business plans, conduct market research, or implement new technologies. The Financial Math for Actuaries: From Rates to Annuities course may be useful for a career as a Management Consultant, as it provides a solid foundation in understanding financial analysis and risk management.
For more career information including salaries, visit:
OpenCourser.com/course/mduf6y/actuarial
Reading list
We've selected six books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Financial Math for Actuaries: From Rates to Annuities.
Save
This text is commonly used by those preparing for the SOA Exam FM / CAS Exam 2 due to its comprehensiveness and its coverage of topics commonly found on this exam.
Besides being a helpful text for students at the undergraduate level, those enrolled in Financial Math for Actuaries: From Rates to Annuities may also find it beneficial for a refresher.
This supplemental text is helpful as both a supplement and replacement text for Financial Math for Actuaries: From Rates to Annuities and is useful for foundational learners.
For a deeper understanding of topics covered in this course, this text may serve as an additional resource. It provides additional foundational knowledge that may prove helpful in understanding the course content.
This supplementary text contains solutions to the end of chapter exercises found in Mathematics for Actuaries.
This supplemental text good source of background information for those taking Financial Math for Actuaries: From Rates to Annuities.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/mduf6y/actuarial
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Effort
4 to 6 hours per week for 6 weeks
Level
Elementary
Via
edX
Institution
The University of Wisconsin-Madison
Instructor
Gordon Enderle
Language
English
Transcript
English
Good to know
Introduces essential financial mathematics concepts that are relevant to students planning careers in actuarial science, finance, and related fields
Well-structured and logically sequenced, guiding students from basic concepts to more advanced topics
Helps students develop a strong foundation in the time value of money, which is crucial for accurate financial analysis and decision-making
Provides opportunities to practice and apply concepts through exercises and assignments
Suitable for individuals with a background in mathematics, including algebra, calculus, and statistics
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