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The subject equips candidates with grounding in deterministic modelling for actuarial work, especially modelling and valuing known cashflows. Assessment is split across two main syllabus topics: theory of interest rates and the equation of value with applications. Detailed objectives cover constructing generalised cashflow models, expressing interest rates across time periods, real versus money interest rates, present value and accumulation, term structures, and concepts such as duration, convexity, and immunisation, aligned with knowledge, application, and higher-order skill levels.",{"@graph":69,"@context":123},[70,84,106],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":20,"@type":76,"position":81},"https://docshare.wps.com/document/exam/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/a211-financial-mathematics-intermediate-technical-syllabus-for-the-2025-examinations-october-2024/398820/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/a211-financial-mathematics-intermediate-technical-syllabus-for-the-2025-examinations-october-2024/398820.png","ImageObject",300,407,{"name":92,"@type":93},"Riley West","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-11-01","2026-09-27",true,{"@type":102,"interactionType":103,"userInteractionCount":105},"InteractionCounter",{"@type":104},"ViewAction",12,{"@type":107,"mainEntity":108},"FAQPage",[109,115,119],{"name":110,"@type":111,"acceptedAnswer":112},"What is the aim of the Financial Mathematics Intermediate subject?","Question",{"text":113,"@type":114},"To provide grounding in deterministic modelling for actuarial work, focusing on modelling and valuing known cashflows using the principles of modelling and financial mathematics.","Answer",{"name":116,"@type":111,"acceptedAnswer":117},"How is the assessment weighted across the syllabus topics?",{"text":118,"@type":114},"The syllabus topics are weighted 50% for Theory of interest rates and 50% for the Equation of value and its applications.",{"name":120,"@type":111,"acceptedAnswer":121},"What knowledge and skills distribution is expected across question types?",{"text":122,"@type":114},"The approximate split is 25% Knowledge, 65% Application, and 10% Higher Order skills.","https://schema.org",{"og:url":83,"og:type":125,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":127,"canonical":83},"index,follow",{"doc_id":129,"site_id":62},398820,1791102711,{"code":4,"msg":5,"data":132},{"doc_id":129,"user_id":133,"nickname":92,"user_avatar":134,"doc_module":4,"category_id":19,"category_name":20,"doc_title":65,"doc_description":67,"doc_content":135,"file_id":136,"file_url":137,"file_type":138,"file_size":139,"view_count":105,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":29,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":144,"read_time":145,"preview_page_count":4},1099523885074,"https://ap-avatar.wpscdn.com/davatar_9964176cb1d06d4a9deccf72a44ae3dc","Subject A211  \nFinancial Mathematics Intermediate Technical Syllabus  \nFor the 2025 Examinations  \nOctober 2024  \nAim  \nThe aim of the Financial Mathematics subject is to provide a grounding in the principles of modelling as applied to actuarial work – focusing particularly on deterministic models which can be used to model and value known cashflows.  \nCompetencies  \nOn the successful completion of this subject, the candidate will be able to  \n1. Describe, interpret and discuss the theories of interest rates.  \n2. Describe, interpret and discuss mathematical techniques used to model and value known cashflows.  \nLinks to other subjects  \nConcepts are introduced in:  \nA111 – Actuarial Statistics  \nTopics in this subject are further built upon in: A113 – Business Finance  \nA213 – Contingencies  \nA214 –Actuarial Economic Modelling A311 – Actuarial Risk Management N311 – Core Actuarial Professional Practice F105 – Finance and Investment Principles  \nSyllabus Topics  \n1 Theory of interest rates (50%)  \n2 Equation of value and its applications (50%)  \nThe weightings are indicative of the approximate balance of the assessment of this subject between the main syllabus topics, averaged over a number of examination sessions.  \nThe weightings also have a correspondence with the amount of learning material underlying each syllabus topic. However, this will also reflect aspects such as:  \n• The relative complexity of each topic, and hence the amount of explanation and support required for it  \n• The need to provide thorough foundation understanding on which to build the other objectives  \n• The extent of prior knowledge which is expected  \n• The degree to which each topic area is more knowledge application based  \nSkills Level  \nThe use of a specific command verb within a syllabus objective does not indicate that this is the only form of question which can be asked on the topic covered by that objective. The Examiners may ask a question on any syllabus topic using any of the agreed command verbs, as are defined in the document “Command verbs used in the Associate and Fellowship written examinations”.  \nQuestions may be set at any skill level: Knowledge (demonstration of a detailed knowledge and understanding of the topic), Application (demonstration of an ability to apply the principles underlying the topic within a given context) and Higher Order (demonstration of an ability to perform deeper analysis and assessment of situations, including forming judgements, taking into account different points of view, comparing and contrasting situations, suggesting possible solutions and actions, and making recommendations) .  \nIn the Financial Mathematic subject, the approximate split of assessment across the three skill types is 25% Knowledge, 65% Application and 10% Higher Order skills.  \nDetailed Syllabus Objectives  \n1. Theory of interest rates  \n1.1. Describe how to use a generalised cashflow model to describe financial transactions.  \n1.1.1. State the inflows and outflows in each future time period and discuss whether the amount or the timing (or both) is fixed or uncertain for a given cashflow process.  \n1.1.2. Describe in the form of a cashflow model the operation of financial instruments (like a zero-coupon bond, a fixed-interest security, an indexlinked security, a current account, cash on deposit, a credit card, an equity, an interest-only loan, a repayment loan and an annuity-certain) and an insurance contract (like endowment, term assurance, contingent annuity, car insurance and health cash plans) .  \n1.2. Show how interest rates may be expressed in different time periods.  \n1.2.1. Describe the relationship between the rates of interest and discount over one effective period, arithmetically and by general reasoning.  \n1.2.2. Derive the relationships between the rate of interest payable once per measurement period (effective rate of interest) and the rate of interest payable p (> 1) times per measurement period (nominal rate of interest) ","cbCaii1j2MNVJygU","https://ap.wps.com/l/cbCaii1j2MNVJygU","pdf",207524,"English","# Aim\n# Competencies\n# Links to other subjects\n# Syllabus Topics\n# Skills Level\n# Detailed Syllabus Objectives\n## 1. Theory of interest rates","[{\"question\":\"What is the aim of the Financial Mathematics Intermediate subject?\",\"answer\":\"To provide grounding in deterministic modelling for actuarial work, focusing on modelling and valuing known cashflows using the principles of modelling and financial mathematics.\"},{\"question\":\"How is the assessment weighted across the syllabus topics?\",\"answer\":\"The syllabus topics are weighted 50% for Theory of interest rates and 50% for the Equation of value and its applications.\"},{\"question\":\"What knowledge and skills distribution is expected across question types?\",\"answer\":\"The approximate split is 25% Knowledge, 65% Application, and 10% Higher Order skills.\"}]","A211 - Financial Mathematics Intermediate Technical Syllabus - For the 2025 Examinations - October 2024 | PDF",1790489114,15]