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This book offers a highly illustrated introduction to mathematical finance, with a special emphasis on interest rates.

This is a revision of the McCutcheon-Scott classic. It realigns the table of contents with the CT1 exam and includes sample questions from past exams of both The Actuarial Profession and the CFA Institute.

103635
£48.99
Sell price: £45.00
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150 years of actuarial writing from 1848 to 1994, complete with indexes, has been issued as an 8 CD set.

This set provides the complete collection of the Journal of the Institute of Actuaries and the Transactions of the Faculty of Actuaries.

103502
£0.00
Sell price: £50.00
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The credit derivative market has developed rapidly over the last ten years and is now well established in the banking community and is increasingly making it presence felt in all areas of finance. This book covers the subject from credit bonds, asset swaps and related 'real world' issues such as liquidity, poor data, and credit spreads, to the latest innovations in portfolio products, hedging and risk management techniques. This book concentrates on practical issues and develops an understanding of the products through applications and detailed analysis of the risk and alternative means of trading.

The book provides:

  • A description of the key products, applications, and an analysis of typical trades including basis trading, hedging, and credit structuring
  • Analysis of the industry standard 'default and recovery' and Copula models including many examples, and a description of the models' shortcomings
  • Tools and techniques for the management of a portfolio or boom of credit risk including appropriate and inappropriate methods of correlation risk management
  • A thorough analysis of counterparty risk
  • An intuitive understanding of credit correlation in reality and in the Copula model
103607
£65.00
Sell price: £30.00
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This book addresses problems in the financial mathematics of pricing and hedging derivative securities in an environment of uncertain and changing market volatility.

These problems are important to investors, from large trading institutions to pension funds. The book presents mathematical and statistical tools that exploit the 'bursty' nature of market volatility. The mathematics is introduced through examples and illustrated with simulations and the modelling approach that is described is validated and tested on market data. The material is easily accessible to derivatives practitioners in the financial engineering industry.

Contents:

  • The Black-Scholes theory of derivative pricing
  • Introduction to stochastic volatility models
  • Scales in mean-reverting stochastic volatility
  • Tools for estimating the rate of mean-reversion
  • Symptotics for pricing European derivatives
  • Implementation and stability
  • Hedging strategies
  • Application to exotic derivatives
  • Applications to American derivatives
  • Generalisations
  • Applications to interest rates models.
103497
£50.00
Sell price: £35.00
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This book provides coverage of microeconomic, macroeconomic and international economic issues for business students. With its direct and understandable approach the book continues to focus on applying economic principles to the real world of business.

Up-to-date case studies examine everything from the impact of the financial crisis to the operation of specific businesses, to illustrate how economic theory relates to real business issues. The book has been thoroughly updated to reflect the challenges faced by business in the current economic climate.

This classic and successful text combines

microeconomics
macroeconomics
international economics and
business economics and strategy

in one user-friendly book and is ideal for anyone studying economics with a business perspective.

76728
£48.99
Sell price: £41.00
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Tables for use in exams

78222
£19.99
Sell price: £15.00
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Essential reading for all those who are interested in developing their knowledge about genetics and where actuaries can 'add value', this publication explores genetic advances from a range of perspectives - medical, social and financial.

Chapters include:

  • How genes work
  • Research fields in human genetics
  • Ethics and the new genetics
  • Genetically modified organisms
  • Genetics and the financial sector
  • Legislation and codes of conduct
  • Actuarial modelling.
103494
£0.00
Sell price: £10.00
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Over recent years the insurance industry has faced a period of rapid change and consolidation, with recent natural and man-made disasters highlighting the problems that the industry faces. Yet this has also been a time of opportunity with the traditional role in insurance giving way to its classification as an asset class. This has resulted in insurance risks now being priced and exchanged on the markets.

In this book, the authors analyse the convergence between the insurance industry and the capital markets. They summarise the main trends and issues and analyse past events within the industry. Thus, they demonstrate that the current market pressures on insurance companies do not just create challenges but also new opportunities.

103493
£75.00
Sell price: £35.00
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Solutions manual to accompany the 4th edition of Loss models. From data to decisions (2012)

103515
£50.00
Sell price: £21.50
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In classical life insurance mathematics the obligations of the insurance company towards the policyholders were calculated on artificial conservative assumptions on mortality and interest rates. However, this approach is being superseded by developments in international accounting and solvency standards coupled with other advances enabling a market-based valuation of risk, i.e., its price if traded in a free market.

This book describes these approaches, and is the first to explain them in conjunction with more traditional methods. The various chapters address specific aspects of market-based valuation. The exposition integrates methods and results from financial and insurance mathematics, and is based on the entries in a life insurance company's market accounting scheme.

The book will be of great interest and use to students and practitioners who need an introduction to this area, and who seek a practical yet sound guide to life insurance accounting and product development.

156665
£75.00
Sell price: £60.00
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