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It is structured into 13 chapters, each progressively advancing in technical sophistication:  \nChapter 0 . Mathematical Review (One week)  \nChapter 1 . Time Value of Money (Half week)  \nChapter 2 . Level Annuities (Half week)  \nChapter 3 . Varying Annuities (One week)  \nChapter 4 . Loans (Two weeks)  \nChapter 5 . Bonds (Two weeks)  \nChapter 6 . Investment and Project Appraisal (One week)  \nChapter 7 . The Term Structure of Interest Rates (One week)  \nChapter 8 . Duration and Convexity (Two weeks)  \nChapter 9 . Immunization (One week)  \nChapter 10 . More General Annuities (Two weeks)  \nChapter 11 . Selected SOA Sample Questions (One week)  \nChapter 12 . Solutions  \nExam FM  \nExam FM is a 2 .5-hour computer-based testing (CBT) exam that consists of 30 multiple-choice questions. The learning outcome of this exam states: The goal of the syllabus for this examination is to provide an understanding of the fundamental concepts of financial mathematics, and how those concepts are applied in calculat ing present and accumulated values for various streams of cash flows as a basis for future use in: reserving, valuation, pricing, asset/liability management, invest ment income, capital budgeting, and valuing contingent cash flows. More information about Exam FM (e.g. syllabus) can be found at [https://www.soa.org/education/exam-req/edu-exam-fm-detail/](https://www.soa.org/education/exam-req/edu-exam-fm-detail/) .  \nRecommended Texts / Study Material  \nRequired Texts  \nThere are no required textbooks in this course. We shall follow closely the course lecture notes, created by the instructor, which will be made available on Canvas. The notes address all important topics required in Exam FM and equip you with lots of intuition to understand the subject matter deeply. There are variety of examples and practice problems for exam preparation. The instructor will print out and distribute all handouts.  \nRecommended Texts  \n• ASM Study Manual for SOA Financial Mathematics (FM) Exam  \n• Broverman, S.A., 2023. Mathematics of Investment and Credit (Eighth Edition) . ACTEX.  \nGrading Scheme  \n14% Homework: Weekly assignments will be given to you by Tuesday  \nof every week. They have to be submitted by the Tuesday class of the following week, and on the same day will post the solution. The homework with the lowest score will be dropped when computing the final grade.  \nA note on collaboration: Discussion with other students on homework problems is encouraged. However, you should always write up your own solutions.  \n1% Participation: There will be an Actuarial Science Speaker Series dur  \ning the semester (date and time to be announced) . Attendance and engagement in this event will count toward your participation grade.  \n15% Quizzes: There will be a total of four 15-minute closed book quizzes  \nheld in the class on Thursdays (see the last page of the syllabus) . These quizzes are intended to motivate you to study regularly.  \n40% Midterm Exams (20% each): There will be two 75-minute closedbook written Midterm Exams to be held in the class (9:30 am – 10:45 am) on February 12 (Thursday) and April 2, 2026 (Thursday) . It will consist mainly of a series of computational questions similar in st","cbCaimOkaVj5wRxu","https://ap.wps.com/l/cbCaimOkaVj5wRxu","pdf",112894,"English","# Overview\n## Course sequence and chapters\n# Exam FM and learning outcomes\n# Recommended texts / study material\n# Grading scheme\n## Homework, participation, quizzes\n## Midterm exams and final exam\n# Policies","[{\"question\":\"What is the main focus of MATH 351 in Spring 2026?\",\"answer\":\"The course prepares students for the SOA Financial Mathematics (FM) exam, focusing on interest theory and applying financial mathematics concepts to present and accumulated values for cash flows.\"},{\"question\":\"What topics are covered across the 13 chapters?\",\"answer\":\"The sequence includes mathematical review, time value of money, level and varying annuities, loans, bonds, investment and project appraisal, term structure, duration and convexity, immunization, more general annuities, and selected SOA sample questions with solutions.\"},{\"question\":\"How are students graded and what exams are required?\",\"answer\":\"Grades include homework (14%), participation (1%), quizzes (15%), two midterm exams (40% total, 20% each), and a final exam (30%). All exams are closed-book, using only calculators permitted by the SOA rules.\"}]","MATH 351 - Mathematics of Finance - Spring 2026 Course Syllabus | PDF",1790496036,13]