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The syllabus covers derivative instruments including forwards, futures, prepaid forwards, options (plain and exotic), arbitrage pricing and hedging, interest rate term structure, and key properties affecting option prices such as put-call parity and term/strike comparisons. Weekly topics and instructor assignments are provided, along with contact expectations for using uwo.ca emails.",{"@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/fm2557b-long-term-actuarial-mathematics-winter-course-outline/399297/",{"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/fm2557b-long-term-actuarial-mathematics-winter-course-outline/399297.png","ImageObject",300,407,{"name":92,"@type":93},"Ivy","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",13,{"@type":107,"mainEntity":108},"FAQPage",[109,115,119],{"name":110,"@type":111,"acceptedAnswer":112},"What are the prerequisites and antirequisites for FM2557B?","Question",{"text":113,"@type":114},"Prerequisites require a minimum mark of 60% in Calculus 1501A/B or Applied Mathematics 1413, or Calculus 1301A/B with at least 85%. The antirequisite is Business Administration 4413A/B.","Answer",{"name":116,"@type":111,"acceptedAnswer":117},"What will students be able to do after completing the course?",{"text":118,"@type":114},"Students can describe and apply concepts for key derivatives (forwards, futures, and options), compute payoffs and profits for long and short positions, value forward contracts (including prepaid forwards) under dividend assumptions, and construct and assess arbitrage opportunities.",{"name":120,"@type":111,"acceptedAnswer":121},"How are option pricing properties and risk-management strategies addressed?",{"text":122,"@type":114},"The course applies put-call parity across stock and bond settings, compares options by term to maturity and strike price, and uses option strategies (e.g., spreads, collar, straddle, strangle, butterfly) to manage financial risk and evaluate their payoffs and profits.","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},399297,1790551846,{"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":39,"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":46,"preview_page_count":4},549758252649,"https://ap-avatar.wpscdn.com/avatar/8000253669c5317157?_k=1778319167496531819","Department of Statistical and Actuarial Sciences  \nFM2557B Long Term Actuarial Mathematics  \nCourse Outline  \n1. Course Information  \nCourse Information  \nCourse Name: Financial Markets and Investments  \nCourse Number: FM2557B  \nTerm: Winter  \nLocation: TC-141 (Online delivery for at least the month of January)  \nLecture hour: Tue 9:30 AM-10:30 AM , Thu 9:30 AM-11 :30 AM  \nTutorial: Thu 4 :30 PM – 5 :30 PM  \nList of Prerequisite(s) A minimum mark of 60% in Calculus 1501A/B or Applied Mathematics 1413, or Calculus 1301A/B with a minimum mark of 85% .  \nList of Antirequisite(s) Business Administration 4413A/B  \nUnless you have either the requisites for this course or written special permission from your Dean to enroll in it, you may be removed from this course and it will be deleted from your record. This decision may not be appealed. You will receive no adjustment to your fees in the event that you are dropped from a course for failing to have the necessary prerequisites.  \n2. Instructor Information  \n\n| Instructors | Email | Office | Phone | Office Hours |\n| --- | --- | --- | --- | --- |\n| Kyle Leistner | [kleistne@uwo.ca](kleistne@uwo.ca) | WSC272 |  | Via zoom – book through email |\n| Pramod Rao | [ppurigal@uwo.ca](ppurigal@uwo.ca) |  |  |  |\n\nStudents must use their Western (@ [uwo.ca](uwo.ca)) email addresses when contacting their instructors.  \n3. Course Syllabus, Schedule, Delivery Mode  \nInterest rate determinants. Duration, convexity and immunization. Basic securities, financial market conventions, swaps, arbitrage pricing and hedging of forwards/futures, equity options, bonds, theories of the term structure, factors affecting option prices, arbitrage relations of calls and puts, trading strategies involving options.  \nUpon successful completion of this course, students will be able to:  \n• Describe the characteristics and terms of the main derivatives instruments (including forwards and futures) .  \no Distinguish between long and short positions for both assets (including short selling of stocks) and derivatives on assets.  \no Recognize the transaction costs affecting profit calculations for both assets and derivativeson assets (including commissionsand bid-ask spread) .  \n• Describe the characteristics and terms relating to both forward contracts and prepaid forward contracts.  \no Define and recognize the following terms relating to the timing of stock purchases: outright purchase, fully leveraged purchase, prepaid forward contract, and forward contract.  \no Determine payoffs and profitsfor bothlongandshortpositionson forward contracts.  \no Calculate prices for both forward contracts and prepaid forward contracts on stocks with no dividends, continuous dividends, and discrete dividends.  \no Construct a synthetic forward from the underlying stock and a risk-free asset and identify arbitrage opportunities when the synthetic forward price is different from the market forward price.  \n• Describe the characteristics and terms relating to both futures contracts and the associated margin accounts.  \no Define and recognize the following terms relating to the mark-to-market process: Marking to market, margin balance, maintenance margin, and margin call.  \no Evaluatean investor’s margin balance basedonchanges inassetvalues.  \n• Explain the cash flow characteristics and terms relating to various options.  \no Define and recognize the following terms relating to option classification: call and put options, expiration date, strike price, moneyness, and option style.  \no Calculatethe payoff and profit on both longandshort positions with respectto both call and put options.  \no Calculate the payoffs on exotic options: Asian (arithmetic and geometric), barrier, compound, gap, andexchange.  \no Calculate the payoffs on exotic options: lookback, chooser, shout, rainbow, and forward start.  \n• Apply option strategies in a risk management context.  \no Recognize that a long put can be used asan insurance strategy for a long stock positiona","cbCaia0eJa6BdVrl","https://ap.wps.com/l/cbCaia0eJa6BdVrl","pdf",421795,"English","# Course Information\n## Instructor Information\n## Course Syllabus, Schedule, Delivery Mode\n## Weekly Schedule","[{\"question\":\"What are the prerequisites and antirequisites for FM2557B?\",\"answer\":\"Prerequisites require a minimum mark of 60% in Calculus 1501A/B or Applied Mathematics 1413, or Calculus 1301A/B with at least 85%. The antirequisite is Business Administration 4413A/B.\"},{\"question\":\"What will students be able to do after completing the course?\",\"answer\":\"Students can describe and apply concepts for key derivatives (forwards, futures, and options), compute payoffs and profits for long and short positions, value forward contracts (including prepaid forwards) under dividend assumptions, and construct and assess arbitrage opportunities.\"},{\"question\":\"How are option pricing properties and risk-management strategies addressed?\",\"answer\":\"The course applies put-call parity across stock and bond settings, compares options by term to maturity and strike price, and uses option strategies (e.g., spreads, collar, straddle, strangle, butterfly) to manage financial risk and evaluate their payoffs and profits.\"}]","FM2557B Long Term Actuarial Mathematics - Winter - Course Outline | PDF",1790495921]