Changes to Exams FM/2, M and C/4 for the May 2007 ...

Add an introduction to financial derivatives, (forwards, options, futures, swaps) and their use in risk management. Add an introduction to the concept of no-arbitrage as a fundamental concept in financial mathematics. To accommodate the additional material, expand Exam FM/2 to a 2.5-hour multiple-choice examination. Exam M: ................
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