Description of Manual - Exam MFE/3F

Three new original practice exams have been added to the 4th edition, for a total of eleven. Lesson 17 has been revised to reflect sign corrections resulting from McDonald’s correction of the signs in equilibrium interest rate models in the textbook. Also, corrections of all know errata have been made.

This manual offers comprehensive coverage of the syllabus for Exam MFE/3F. In its 17 lessons, the following topics are reviewed:

• Put-call parity
• Binomial trees
• The Black-Scholes formula
• Exotic options
• Brownian motion and Ito’s lemma
• Interest rate models, including the Black-Derman-Toy model

The 4th edition has about 525 pages, 90 examples, 80 in-lesson exercises and about 330 end-of-lesson exercises, all with complete solutions.  Also, the manual has 11 original 20-question practice exams (an additional 220 questions), with detailed solutions. While this manual will be adequate for Exam MFE/3F, the McDonald textbook is referenced in each lesson if you wish to use it.

Description of Manual -
Supplement to 3rd Edition of Exam MFE/3F Manual

This supplement is designed for owners of the 3rd edition of the MFE/3F manual. It contains the three new original practice exams added to the 4th edition. It also contains lesson 17 revised for sign corrections, as described in the first paragraph above.

Author’s Background:
Abraham Weishaus, Ph.D., F.S.A., CFA, M.A.A.A.

Financial reporting actuary for Guardian Life Insurance Company. Served on the SOA’s Education and Examination Committee for 11 years. Taught exam preparation courses for the Actuarial Society of Greater New York (ASNY) for 15 years.  Teaches exam preparation courses at St. John's University and seminars for CAMAR.