Sample questions - MFE & MLC

[Minnesotah]

Does anyone know when the SOA will release sample questions and solutions for both MLC and MFE? The website says (coming soon)...

Also, does anyone know where I might get the solutions to the odd numbered exercises for the suggested MFE text: "Derivatives Markets (Second Edition), 2006, by McDonald, R.L., Chapter 9-14 (excluding appendices), Chapter 20 through “Functions of an Itô Process”, Chapter 24."

The solutions to the even-numbered exercises are sold by various places, but it is difficult to go through the other half of these exercises without knowing if my thought process if correct.

Thanks in advance.

[qiling]

Hello,

Could you pls tell me which material are you using? and what is the review strategy?

[actsci-man]

Does anyone know when the SOA will release sample questions and solutions for both MLC and MFE? The website says (coming soon)...

Also, does anyone know where I might get the solutions to the odd numbered exercises for the suggested MFE text: "Derivatives Markets (Second Edition), 2006, by McDonald, R.L., Chapter 9-14 (excluding appendices), Chapter 20 through “Functions of an Itô Process”, Chapter 24."

The solutions to the even-numbered exercises are sold by various places, but it is difficult to go through the other half of these exercises without knowing if my thought process if correct.

Thanks in advance.

As to your question of how to get the solutions to the odd-numbered questions in the text, the answer is that we can't buy such a solution manual with answers to both odd-numbered and even-numbered questions in the text except you are an instructor who teaches courses by using this textbook. That is what my instructor tells me. He has a solution manual for both odd and even number questions and he doesn't post solutions to those assigned problems in the text because he can't violate the culture of copyright in North America. So, I end up with checking the solution by going to his office when he's holding office hours. I really understand how frustrated you are because the only source we can practice derivatives markets questions for MFC, FM and a little bit portion covered in Exam C is by doing the exercises in the text. Sometimes, we don't know if what we've done is correct or not.So, solution manual is definitely a "must-have", together with the text. I don't know if you have worked through the questions in the first few chapters, like chapter1-5, as a review to the preparation for chapters covered in MFE . Those questions are ridiculously easy and far more from the format that will be tested in the FM and MFE. I am pretty sure that SOA won't ask us to graph the pay-off and profit of forward contract in the exam. It seems that those graph-related questions dominate in the text. The syllaus says that it's strongly recommended that candidates should do the exercises in the text. I am so confused with what it means. Does it mean that questions related to derivatives markets in FM, MFE 2007 will resemble those in the text. Good thing is that a sample exam to MFE will be posted soon.If you refer to that sample exam posted in SOA website for FM, you will find that there is no such a question related to derivatives markets, SIGH!

So, what I would suggest for those who will take FM, MFE in May 2007 is that we shold focus on concept understanding rather than question type familiarity because no one knows how those materials will be tested till an real sample exam is posted

hope that helps!

[Minnesotah]

we can't buy such a solution manual with answers to both odd-numbered and even-numbered questions in the text except you are an instructor who teaches courses

I don't suppose I could claim I am a self-instructor?

I only skimmed chapters 1-8 in the MFE text, and have spent more time going through examples and questions on chapters 9 and 10 thus far. Many of the questions at the end of chapter 9, for example, are computational with varying levels of difficulty. Although focusing on concept understanding is always a good startegy, I believe the SOA will be more likely to ask questions that test specific application (i.e. what is the numerical buy/sell strategy to exploit an arbitrage opportunity given a list of option prices).

My study plan for MFE is simply to go through the recommended sections of the text and become proficient in answering all of the even numbered exercises - which I have solutions to. I will then focus time filling in any gaps (i.e. application to equity-linked insurance) once the SOA sample questions and solutions are available and hint at areas of significance.

Thanks again,

[thodges314]

I plan to buy the Guo manual:
[url]http://www.actexmadriver.com/productdetails.cfm?PC=1823[/url]

The product preview covers chapter 9.