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Investment / Financial Markets Old Exam MFE Forum

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  #1  
Old 05-23-2016, 12:51 PM
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Default New MFE Syllabus in Summer 2017

The SOA has officially announced that the change in FM & MFE would begin in Summer 2017. More details can be found here: https://www.soa.org/Education/Exam-R...er-change.aspx.

For those who are interested in how the new syllabus is different from the current FM and MFE syllabus, I did a quick comparison (see the attached) based on the draft FM and MFE syllabi.
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File Type: pdf MFE Syllabus Changes.pdf (18.0 KB, 1549 views)
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Old 05-23-2016, 02:53 PM
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Quoted from the SOA website

Quote:
One feature of this change is that most university programs will be able to cover this material in a single three-credit course

Not an Actuarial Science major or took any Finance in college, but is that not the case now? I wouldn't imagine you couldn't fit FM (today) into a three credit class.

Also no more Brownian Motion? "mathematically sophisticated", I mean I guess. Seems like a pretty lame reason to remove material.
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Old 05-23-2016, 03:36 PM
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Originally Posted by slinkydoe View Post
Quoted from the SOA website




Not an Actuarial Science major or took any Finance in college, but is that not the case now? I wouldn't imagine you couldn't fit FM (today) into a three credit class.

Also no more Brownian Motion? "mathematically sophisticated", I mean I guess. Seems like a pretty lame reason to remove material.
I can't speak for other universities. At Drake, the derivatives materials in FM as well as in MFE are currently covered in two 3-credit courses.
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Old 05-23-2016, 03:44 PM
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Basically we are taking a more difficult exam now compare to the one in July next year. Taking away the Brownian motion and Ito Lema is like taking 1/4 of the exam away.
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Old 05-23-2016, 03:48 PM
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Basically we are taking a more difficult exam now compare to the one in July next year. Taking away the Brownian motion and Ito Lema is like taking 1/4 of the exam away.
I agree. The continuous interest rate models (Vasicek, CIR etc) as well as anything with a differential equation from Interest Rate Models have been eliminated as well.
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Old 05-23-2016, 04:08 PM
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Since it's not the same exam any more, I wonder if the CAS would adjust their requirement overall... I would earn credit for exam 3F if passing MFE this July. But it would a lot easier task to earn the same thing next year.

I don't know how things work at all, but would imagine to make it equitable for all credential earners, there would be an adjustment...
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Old 05-23-2016, 08:17 PM
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Wow, with no Brownian motion and Ito Lemma, will new material be added on? Or is the exam just going to be easier?
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Old 05-23-2016, 08:50 PM
Abraham Weishaus Abraham Weishaus is offline
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Quote:
Originally Posted by ReturnStudent View Post
Since it's not the same exam any more, I wonder if the CAS would adjust their requirement overall... I would earn credit for exam 3F if passing MFE this July. But it would a lot easier task to earn the same thing next year.

I don't know how things work at all, but would imagine to make it equitable for all credential earners, there would be an adjustment...
During the one year (2007) that the CAS had its own 3F, their tests had no virtually no questions on stochastic calculus. I think the new MFE fits better into what the CAS thinks students should learn for associateship.
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Old 06-01-2016, 08:28 PM
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Quote:
Originally Posted by tkt View Post
I can't speak for other universities. At Drake, the derivatives materials in FM as well as in MFE are currently covered in two 3-credit courses.
Same in my university.

Derivatives cover 2 courses. Each with 3 credits.

Edit : we have Derivative Market itself. Also Financial Mathematics (this one is for Master)
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Old 06-01-2016, 10:15 PM
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Originally Posted by Abraham Weishaus View Post
During the one year (2007) that the CAS had its own 3F, their tests had no virtually no questions on stochastic calculus. I think the new MFE fits better into what the CAS thinks students should learn for associateship.
This seems to be confirmed today:

http://www.casact.org/press/index.cf...articleID=3273

"The CAS will recognize the Transition Rules adopted by the SOA."
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