Sunday, July 26, 2009

It's time for the final SOA exam- FETE!

The following is the readings for exam FETE:

Readings

Investment Decisions: The Certainty Case 26
Multi-period Capital Budgeting under Uncertainty: Real Options Analysis 47
Capital Structure and the Cost of Capital: Theory and Evidence 88
Acquisitions, Divestitures, Restructuring, and Corporate Governance (p.781-806) 26
Modeling and Risk Management for Equity-Linked Life Insurance (p.157-169) 13
One Step in the Right Direction: The New C-3a Risk-Based Capital Component 13


Risk Management Ch. 14: Capital Allocation and Performance Measurement 50
Capital Allocation in Financial Firms 9
Specialty Guide on Economic Capital (exclude appendices) 44
VAR: Seductive but Dangerous 12
A Principles-Based Reserves and Capital Standard 4
Do Life Insurer RBC Ratios Really Reflect Underlying Risk Levels? (exclude appendix) 13
Introducing Moody’s New Liquidity Model for U.S. Life Insurance Companies 14
The New Risk-Based Insurance Capital Model 43
The Cost of Capital for Financial Firms 52
Solvency Measurement for Property-Liability Risk-Based Capital Applications 16
Financial Markets and Corporate Strategy Ch. 18: How Managerial Incentives Affect Financial Decisions 27
Risk Management Ch. 2: The New Regulatory and Corporate Environment 52
Corporate Finance Theory Ch.2: Ownership, Control, and Compensation 41
Report of the American Academy of Actuaries’ C3 Life and Annuity Capital Work Group (p.1-27) 28
The New Corporate Finance Ch.31: Theory of Risk Capital in Financial Firms
Investor & Management Expectations of the “Return on Equity" 7
Capital Allocation by Percentile Layer 27
Dividend Policy: Theory and Evidence 47
Introduction 15
M&A Process Overview 44
Finance 30
Valuation Techniques 78
Integrated Risk Management Ch. 13: Contingent Leverage Strategies and Hybrid Debt 45
Financial Decision-Making: A Behavioral Perspective 25
Securitization of Life Insurance Assets and Liabilities 32
Are You Paying Too Much for That Acquisition? 11
Insurance Mergers &Acquisitions 42
Real and Illusory Value Creation by Insurance Companies (p.1-21) 22
Corporate Finance Theory Ch. 9: “Understanding and Accessing Financial Markets 58
Life, Health and Annuity Reinsurance Ch. 5: Advanced Methods of Reinsurance 74
Financial Markets and Corporate Strategy Ch. 19: The Information Conveyed by Financial Decisions 31
Integrated Risk Management Ch. 16: A Case Study: The Securitization of Catastrophic Risk 39
Provision for Equity-linked Liabilities (p.11-14) 5
Modeling Long-term Stock Returns 32
Maximum Likelihood Estimation for Stock Return Models 18
The Left-Tail Calibration Method 12
Markov Chain Monte Carlo (MCMC) Estimation 18
Swaps 31
Binomial Trees 22
Wiener Processes and Ito’s Lemma 18
The Black-Scholes-Merton model 33
Exotic Options 25
Swaps Revisited 15
Equity-Indexed Life Products 11
Variable Annuities: “No Loss” Propositions” (Sections 1 through 3.6 only) 12
What Does An Option Pricing Model Tell Us About Option Prices? 4
Investment Management for Insurers Ch 13: Problems Encountered in Valuing Interest Rate Derivatives 16
The New Corporate Finance Ch.32 How to Use the Holes in Black-Scholes 7
Modeling the Guarantee Liability 20
Dynamic hedging for separate account guarantees 24
Guaranteed Annuity Options 16
Equity-Indexed Annuities 27
The Greek letters 32
Volatility Smiles 18
Basic Numerical Procedures 44
Estimating Volatilities and Correlations 20
More on Models and Numerical Procedures (26.1, 26.2, 26.3 only) 31
Martingales and Measures 23
Interest Rate Derivatives: The Standard Market Models 20
Convexity, Timing, and Quanto Adjustments 13
Interest Rate Derivatives: Models of the Short Rate 29
Interest Rate Derivatives: HJM and LMM 18
The Oxford Guide to Financial Modeling Ch.5 and Ch.6 86
Model Risk 10
Use of Stochastic Techniques to Value Actuarial Liabilities Under Canadian GAAP 26
Investment Management for Insurers Ch. 11: “The Four Faces of an Interest Rate Model” 12
Empirical properties of asset returns: stylized facts and statistical issues 11
Validation of Long-Term Equity Return Models for Equity-Linked Guarantees 19
Market Equilibrium: CAPM and APT (pp. 164-188) 25
Efficient Capital Markets: Theory 22
Efficient Capital Markets: Evidence 33
Information Asymmetry and Agency Theory 47
An Introduction to Applicable Game Theory (p.127-149) 22
Finance Applications of Game Theory 19

It makes a total of 2191 pages. Gun it down in 3 months~~