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  #21  
Old 06-29-2016, 01:01 AM
levelworm levelworm is offline
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Originally Posted by Galaxy View Post
Me too, I'm not sure what's going on but I can't understand this stuff for the life of me. I'm not sure what to do at this point.
Don't worry. I was like you a couple of months ago. I'm sitting for July though.
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  #22  
Old 06-29-2016, 10:06 AM
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dkamka dkamka is offline
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Default July '17 MFE changes

In July '17 all of stochastic calculus topics will be gone (Ito's Lemma, Stochastic Differential Equation, Stochastic Calculus, and related topics that currently incorporate Brownian Motion)

It may seem like a dumb idea, but I'm thinking of pacing myself for July '17 and using the extra time to learn to program all the material into C++ programs, SAS programs, create databases practicing SQL, programming VBA on all the formulas from MFE so when I pass I'm also very up to speed on technical skills too. :both:

SOA said the Stochastic Calculus topics will be reserved for the higher level FSA level exams, so it's not really going away. It's a long ways away, but there is a lot of time to fully polish my technical skills in the process which goes a long way when I'll be able to confidently say i can hit the ground running on the technical side. Any thoughts?
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  #23  
Old 06-29-2016, 11:28 AM
levelworm levelworm is offline
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Originally Posted by dkamka View Post
In July '17 all of stochastic calculus topics will be gone (Ito's Lemma, Stochastic Differential Equation, Stochastic Calculus, and related topics that currently incorporate Brownian Motion)

It may seem like a dumb idea, but I'm thinking of pacing myself for July '17 and using the extra time to learn to program all the material into C++ programs, SAS programs, create databases practicing SQL, programming VBA on all the formulas from MFE so when I pass I'm also very up to speed on technical skills too. :both:

SOA said the Stochastic Calculus topics will be reserved for the higher level FSA level exams, so it's not really going away. It's a long ways away, but there is a lot of time to fully polish my technical skills in the process which goes a long way when I'll be able to confidently say i can hit the ground running on the technical side. Any thoughts?
Actually I prefer they drop the interest models, the stochastic material is easier than they seem to be. I believe this is the easiest part of the manual, what a pity. Rarely that you don't need to memorize a lot of obscure formulas.

What I'm afraid of is what they are going to put into the new curriculum. Since they are pulling out some of the theoretical stuff, maybe they will put more computational stuff into it.
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  #24  
Old 06-29-2016, 11:32 AM
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Well from what the SOA says, it's supposed to be just a transfer from 100% of the derivative market material on FM that we already passed, excluding interest rate swaps which will remain on FM as it's going to an interest theory only exam.
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  #25  
Old 06-30-2016, 01:42 AM
mc.fei mc.fei is offline
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Originally Posted by Rigel View Post
You are ahead of me mcfei. I am only 1/2 way through reading ASM Chapter 1. Pretty straight forward so far though (mostly review).
If you need motivation like me. Well... pay the C/A 180 days. When your money is gone, you know it's time to get it back to make it worth it .

It was a pain to see few thousands left in a blink of eyes time. I also paid for CFA. Actually, I am broke.
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  #26  
Old 06-30-2016, 05:56 PM
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Figured I'd jump in here - I sit for MFE in a week - but not feelin so warm and fuzzy about it so will likely be taking it in November again

I will say for anyone who is reading through ASM and feels super lost, things start coming together better around Delta Hedging and Brownian Motion. So I just recommend powering through it if you feel lost.

However, just when you start to feel like you get what's going on they throw in a few topics that I still just throw my hands in the air (Interest Rate Models BLEH)

Anyways Hopefully I won't be sitting with you guys but...we will see!
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  #27  
Old 06-30-2016, 09:24 PM
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Why is ASM Chapter 2 so incomprehensible to me? It doesn't seem like it should be a tough one. Chapter 1 and 3 went pretty well though.
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  #28  
Old 06-30-2016, 09:36 PM
jmin012 jmin012 is offline
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Originally Posted by Rigel View Post
Why is ASM Chapter 2 so incomprehensible to me? It doesn't seem like it should be a tough one. Chapter 1 and 3 went pretty well though.
I'm taking the exam in a 2 weeks and I'd say Chapter 2 is definitely one of the harder chapters. It doesn't really build on anything too important so it's possible to skip it now and revisit later on.
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  #29  
Old 06-30-2016, 09:49 PM
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Ok thanks jmin. That's good to know. I'll probably come back to Chapter 2 later on then.
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  #30  
Old 07-01-2016, 10:53 AM
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This video really helped me understand basic principles of Black Scholes - specifically why the equation is what it is - it assumes no dividends as a basic example - but wanted to share for all to enjoy

https://www.youtube.com/watch?v=Xy_t..._bSqt&index=14
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