[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-0-en-105":3,"doc-seo-399197-105":59,"doc-detail-399197-en":131},{"code":4,"msg":5,"data":6},0,"success",[7,13,18,23,28,33,38,43,48,51,55],{"id":8,"doc_module":4,"doc_module_name":9,"category_name":10,"show_sort_weight":11,"slug":12},1,"Document","Story & Novel",90,"story-novel",{"id":14,"doc_module":4,"doc_module_name":9,"category_name":15,"show_sort_weight":16,"slug":17},2,"Literature",80,"literature",{"id":19,"doc_module":4,"doc_module_name":9,"category_name":20,"show_sort_weight":21,"slug":22},4,"Exam",70,"exam",{"id":24,"doc_module":4,"doc_module_name":9,"category_name":25,"show_sort_weight":26,"slug":27},5,"Comic",60,"comic",{"id":29,"doc_module":4,"doc_module_name":9,"category_name":30,"show_sort_weight":31,"slug":32},6,"Technology",50,"technology",{"id":34,"doc_module":4,"doc_module_name":9,"category_name":35,"show_sort_weight":36,"slug":37},7,"Healthcare",40,"healthcare",{"id":39,"doc_module":4,"doc_module_name":9,"category_name":40,"show_sort_weight":41,"slug":42},8,"Research & Report",30,"research-report",{"id":44,"doc_module":4,"doc_module_name":9,"category_name":45,"show_sort_weight":46,"slug":47},9,"Religion & Spirituality",20,"religion-spirituality",{"id":46,"doc_module":4,"doc_module_name":9,"category_name":49,"show_sort_weight":46,"slug":50},"World Cup","world-cup",{"id":52,"doc_module":4,"doc_module_name":9,"category_name":53,"show_sort_weight":52,"slug":54},10,"Lifestyle","lifestyle",{"id":56,"doc_module":4,"doc_module_name":9,"category_name":57,"show_sort_weight":24,"slug":58},19,"General","general",{"code":4,"msg":60,"data":61},"ok",{"site_id":62,"language":63,"slug":64,"title":65,"keywords":66,"description":67,"schema_data":68,"social_meta":124,"head_meta":126,"extra_data":128,"updated_unix":130},105,"en","exam-ifm-study-manual-learning-made-easier","Exam IFM Study Manual - Learning Made Easier","","Exam IFM Study Manual presents a guided preparation program for the IFM actuarial exam, integrating Corporate Finance and Derivative Instruments. It details the full syllabus topics and learning structure, including investment risk, efficient markets, mean-variance portfolio theory, CAPM, capital structure, financing, forwards and futures, and options—covering both general and exotic option pricing. The manual includes extensive practice, adaptive quizzes, multiple learning and difficulty modes, and video instruction, plus progress tracking through an online learning tool. It also explains study guidance, quizzes, exercises, and how to interpret interest-rate conventions across the two subject areas.",{"@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/exam-ifm-study-manual-learning-made-easier/399197/",{"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/exam-ifm-study-manual-learning-made-easier/399197.png","ImageObject",300,407,{"name":92,"@type":93},"Angel","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-11-06","2026-09-27",true,{"@type":102,"interactionType":103,"userInteractionCount":105},"InteractionCounter",{"@type":104},"ViewAction",17,{"@type":107,"mainEntity":108},"FAQPage",[109,115,119],{"name":110,"@type":111,"acceptedAnswer":112},"What topics are covered in the IFM study manual?","Question",{"text":113,"@type":114},"The manual covers Corporate Finance and Derivative Instruments, including investment risk, efficient markets, mean-variance portfolio theory, CAPM, capital structure, financing, forwards/futures, and a full range of options topics from general properties to exotic options and real options.","Answer",{"name":116,"@type":111,"acceptedAnswer":117},"How long is the IFM exam and how many questions are there?",{"text":118,"@type":114},"The IFM exam is a 3-hour exam with 30 questions.",{"name":120,"@type":111,"acceptedAnswer":121},"How should interest rates be interpreted across the two subject areas?",{"text":122,"@type":114},"In the corporate finance part, assume annual effective interest rates unless told otherwise; in the derivatives part, assume continuously compounded interest rates unless told otherwise, so exams reflect clear definitions.","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},399197,1790588418,{"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":140,"language":141,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":142,"faqs":143,"seo_title":144,"seo_description":67,"update_tm":145,"read_time":146,"preview_page_count":14,"preview_urls":147},687207412472,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","An Integrated Component of Your Study Manual Program  \nExam IFM Study Manual  \nAbraham Weishaus, Ph.D., FSA, CFA, MAAA  \nLearning Made Easier  \nOAL  \nGuided Online Actuarial Learning  \nIncluded free  with your study manual purchase.  \nStart your preparations today!  \nAdaptable, customizable,  \nonline actuarial exam prep tool.  \n• 10,000+ exam style problems with detailed solutions  \n• Hours of instructional videos covering exam syllabus topics (selection varies by exam)  \n• Adaptive quizzes  \n• 3 learning modes & 3 difficulty modes  \n• Practice. Quiz. Test. Pass!  \nSee Reverse Side for an Outline of the GOAL Test Prep Tool  \nIncluded free with purchase of this study manual  \nDidn’t purchase a new copy of this manual? Check out our free one-day trial of GOAL [Available at www.ActexMadRiver.com & www.ActuarialBookstore.com](Available at www.ActexMadRiver.com & www.ActuarialBookstore.com)  \nAdaptable, customizable,  \nonline actuarial exam prep tool.  \n• 10,000+ exam style problems with detailed solutions  \n• Adaptive quizzes  \n• 3 learning modes  \n• 3 difficulty modes  \n• Practice. Quiz. Test. Pass!  \nFree  with your ACTEXor ASM Study Manual  \n• GOAL is an e-Learning test prep tool for students to practice skills learned in class or from independent study  \n• The online platform offers a database of SOA & CAS exam-style problems with detailed solutions  \n• GOAL offers instructor support as well as performance reporting and tracking to monitor your progress  \n• Don’t forget to check out GOAL Score to see how ready you are for the exam  \nAvailable now for P, FM, IFM, LTAM, STAM, SRM, MAS-I, MAS-II, CAS 5, CAS 6U, & CAS 6C  \nStart Your Exam Prep Today!  \nPreface  \nWelcome to the IFM exam!  \nThis course combines Corporate Finance and Derivative Instruments. You will study the following topics:  \n1. Investment risk and project analysis  \n2. Efficient markets hypothesis  \n3. Mean-variance portfolio theory  \n4. Capital asset pricing model (CAPM)  \n5. Capital structure  \n6. Debt and equity financing  \n7. Forwards and futures  \n8. Call and put options  \n9. Strategies combining call and put options  \n10. Principles relating prices of calls and puts, and relating prices of options to each other and bounding them. These principles do not develop exact prices for options, but are general and easy to derive.  \n11. Valuing options using binomial trees.  \n12. The lognormal model for stocks.  \n13. Valuing options using analytic methods (Black-Scholes) .  \n14. Definitions of exotic options, and pricing methods for exotic options where available.  \n15. Real options  \n16. Actuarial applications of option pricing  \nThe IFM exam is a 3-hour exam with 30 questions. The following table gives the syllabus topics and their weights, and the lessons discussing each topic  \n\n| Topic | Weight | Lessons |\n| --- | --- | --- |\n| Mean-Variance Portfolio Theory | 10–15% | 5 |\n| Asset Pricing Models | 5–10% | 6–8 |\n| Market Efficiency and Behavioral Finance | 5–10% | 4,8 |\n| Investment Risk and Project Analysis | 10–15% | 2–3,30 |\n| Capital Structure | 10% | 9–13 |\n| Introductory Derivatives—Forwards and Futures | 5–10% | 1,14–15 |\n| General Properties of Options | 10–15% | 16–18 |\n| Binomial Pricing Models | 10% | 19–22 |\n| Black-Scholes Option Pricing Model | 10–15% | 23–24,27 |\n| Option Greeks and Risk Management | 5–10% | 25,26,31 |\n\nThe syllabus includes parts of two textbooks, and two study notes. Download the syllabus from the SOA site and refer to the last page of the syllabus for links to the two study notes. One textbook and one study note deal with Corporate Finance. The other textbook and study note deal with Derivative Instruments.  \nIf you use the Derivatives Markets textbook, refer to the following website for errata:  \n[http://derivatives.kellogg.northwestern.edu/errata/errata3e.html](http://derivatives.kellogg.northwestern.edu/errata/errata3e.html)  \nIFM Study Manual xvii  \nCopyright © ASM  \nThis manual  \nThis manual gives you complete coverage of ","cbCaif3WUINDfmqp","https://ap.wps.com/l/cbCaif3WUINDfmqp","pdf",1916825,18,"English","# Preface\n## IFM Course Overview\n## Investment Risk and Project Analysis\n## Efficient Markets and Portfolio Theory\n## CAPM and Capital Structure\n## Financing and Derivatives\n## Options and Pricing Principles\n## Binomial Trees and Lognormal Model\n## Black-Scholes and Exotic Options\n## Real Options and Actuarial Applications\n## IFM Exam Format and Syllabus Weights","[{\"question\":\"What topics are covered in the IFM study manual?\",\"answer\":\"The manual covers Corporate Finance and Derivative Instruments, including investment risk, efficient markets, mean-variance portfolio theory, CAPM, capital structure, financing, forwards/futures, and a full range of options topics from general properties to exotic options and real options.\"},{\"question\":\"How long is the IFM exam and how many questions are there?\",\"answer\":\"The IFM exam is a 3-hour exam with 30 questions.\"},{\"question\":\"How should interest rates be interpreted across the two subject areas?\",\"answer\":\"In the corporate finance part, assume annual effective interest rates unless told otherwise; in the derivatives part, assume continuously compounded interest rates unless told otherwise, so exams reflect clear definitions.\"}]","Exam IFM Study Manual - Learning Made Easier | PDF",1790494410,45,[148,152],{"page_no":8,"url":149,"width":150,"height":151},"https://res-academy.cache.wpscdn.com/upload/kdocshare/2026-11-08/028fdbf99a28bdc3f6f7fed05f01b8b1.webp",983,1272,{"page_no":14,"url":153,"width":154,"height":155},"https://res-academy.cache.wpscdn.com/upload/kdocshare/2026-11-08/d0b47b85772111c0841f7e961ef29366.webp",982,1270]