May 02, 2026  
2017-2018 Undergraduate Catalog 
    
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2017-2018 Undergraduate Catalog [NOTE!!!! THIS IS AN ARCHIVED CATALOG. FOR THE CURRENT CATALOG, GO TO CATALOG.NIU.EDU]

STAT 382 - Theory of Interest and Financial Derivatives

Learning outcomes of the Exam FM / 2 of the Society of Actuaries / the Casualty Actuarial Society, including rates of interest, present and future values, annuities-certain, perpetuities, stocks, bonds, mutual funds and guaranteed investment contracts. Key techniques in financial mathematics including discounting, accumulation, amortization, and yield rate determination. Modern financial concepts including yield curves, spot and forward rates, duration, convexity, and immunization. Introduction to financial derivatives, forwards, options, futures, swaps, and the principle of no arbitrage. Practice in solving typical problems encountered in the above-mentioned actuarial examinations.

Prerequisites & Notes
PRQ: MATH 230 or consent of division.

Credits: 4