Financial Mathematics - Theory Of Interest & Cashflow Models

By MJ the Fellow Actuary
What you'll learn
Introduction to Finance
Interest Rates
Financial Instruments
Zero Coupon Bonds
Annuities
Discount Rates
Actuarial Notation
Force of Interest as a Function of Time
Term Structure of Interest Rates
Loan Schedules
Project Appraisal
Stochastic Interest Rate Models
Requirements
High schools maths is required
Simple Integration is needed
Description
This course requires no prior knowledge on financial concepts and we will go through the main financial instruments one at a time. We will also look at the Time Value of Money, the Theory of Interest Rates and the Discounted Cash Flow Model. This is an introductory course for people who want to pursue careers in Actuarial Science, CFA, FRM, etc. A mathematical background will be advantageous.Section 1What is Finance and Why do we have finance?What are Interest and Inflation Rates?Why are Financial Transactions complicated?Section 2Introduction to Financial InstrumentsZero Coupon BondFixed Interest SecurityIndex Linked SecurityEquityAnnuityInsurance ProductsSection 3Theory of Interest - BasicPower of Interest RatesDiscount RatesBasic Actuarial NotationSection 4Theory of Interest - AdvancedMoney Rates vs Real RatesNominal Rates vs Effective RatesForce of InterestForce of Interest as a Function of timeSection 5Actuarial NotationDiscounting FactorAnnuity CertainAnnuity in AdvanceDeferred AnnuityAnnuities payable pthlyAnnuities payable continuouslyPerpetuitiesIncreasing AnnuitiesSection 6Term Structure of interest ratesSpot RatesForward RatesTheories on Yield CurvesYield to MaturityPar YieldImmunisationSection 7Equation of ValueLinear InterpolationSection 8Loan SchedulesSection 9Project AppraisalSection 10Stochastic Interest Rate ModelsLognormal Interest Rate ModelsSingle Factor ModelsHo-LeeVasicekHull-whiteCox-Ingress-RossSection 11Exam Questions
Overview
Section 1: Introduction to Finance
Lecture 1 Introduction to Finance
Lecture 2 Financial Transactions
Lecture 3 Interest and Inflation Rates
Lecture 4 How to use the HP12c
Section 2: Introduction to Financial Instruments
Lecture 5 Introduction to Financial Instruments
Lecture 6 Zero Coupon Bonds
Lecture 7 Fixed Interest Securities
Lecture 8 Index Linked Securities
Lecture 9 Annuities
Lecture 10 Equity
Lecture 11 Insurance Products
Section 3: Theory of Interest - Basic
Lecture 12 Theory of Interest - Basic
Lecture 13 Power of Interest Rates
Lecture 14 Discount Rates
Lecture 15 Actuarial Notation - Basic
Section 4: Theory of Interest - Advanced
Lecture 16 Theory of Interest - Advanced
Lecture 17 Money Rates vs Real Rates
Lecture 18 Nominal Rates vs Effective Rates
Lecture 19 Force of Interest
Lecture 20 Recap of Integration
Lecture 21 Force of Interest as a Function of Time
Lecture 22 Example of Force of Interest as a Function of Time
Section 5: Actuarial Notation
Lecture 23 Introduction to Actuarial Notation
Lecture 24 Discounting Factor
Lecture 25 Annuity Certain
Lecture 26 Annuity in Advance
Lecture 27 Deferred Annuities
Lecture 28 Annuities payable pthly
Lecture 29 Annuities payable continuously
Lecture 30 Perpetuity
Lecture 31 Increasing Annuities
Section 6: Equations of Value
Lecture 32 Equations of Value
Lecture 33 Linear Interpolation
Section 7: Loan Schedules
Lecture 34 Loan Schedules
Section 8: Project Appraisal
Lecture 35 Project Appraisal
Section 9: Term Structure of Interest Rates
Lecture 36 Term Structure of Interest Rates
Lecture 37 Spot Rates
Lecture 38 Forward Rates
Lecture 39 Theories on the Yield Curves
Lecture 40 Yield to Maturity
Lecture 41 Par Yields
Lecture 42 Immunisation
Section 10: Advanced Interest Rate Models
Lecture 43 Stochastic Interest Rate Models
Lecture 44 Lognormal Interest Rate Model
Lecture 45 Single Factor Interest Rate Models
Section 11: Exam Questions
Lecture 46 Question 1 - Simple Discount Rate
Lecture 47 Question 2 - Interest Rate
Lecture 48 Question 3 - Level Annuities
Lecture 49 Question 4 - Increasing Annuity
Lecture 50 Question 5 - Loan Schedules
Students wanting to enter financial professions such as Actuary, CFA, FRM, etc,Exams FM, CM1, A211
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