Description of Manual - Exam MFE/3F

This manual offers comprehensive coverage of the syllabus for Exam MFE/3F. In its 20 lessons, the following topics are reviewed:

• Put-call parity
• Binomial trees
• Modeling stock prices with the lognormal distribution
• The Black-Scholes formula
• Exotic options
• Monte Carlo valuation
• Brownian motion and Ito’s lemma
• Interest rate models, including the Black-Derman-Toy model

The 7th edition has about 720 pages, 120 examples, 90 in-lesson exercises and about 450 end-of-lesson exercises, all with complete solutions.  Also, the manual has 12 original 25-question practice exams (an additional 300 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 Flashcards -
Exam MFE/3F

Flashcards help you review and learn important formulas and concepts.

The ASM MFE/3F flashcard package contains about 250 cards covering the formulas and concepts of the course. Each card is categorized by topic, allowing you to limit your review to selected topics. Each card also has a cross-reference to the lesson, page, and formula or table number (where applicable) in the ASM MFE/3F manual, 7th edition (first or second printing). Students with older editions can use the table that is provided in the package to translate the lesson numbers to the corresponding lesson numbers in their edition.

A unique feature of these cards is a rating system, indicating the relative importance of each card.

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

Formerly 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 and for CAMAR for 6 years.  Currently teaches exam preparation courses at St. John's University.