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I am new to this material and feel like I understand what I read in this book. The author delivers the material and then goes through an example based on that material - normal math book stuff. He really breaks it down though which is good if you have never seen these topics before. The book should include the answers to the homework questions and it does not. I've never seen a math book do this. That is however the only downside of this book. I bought two books off the actuary FM list and this one is the best.
Very interesting, good beginner level, lots of examples. Authors do a good job of explaining the basics as well as introducing more complex topics. A answer key is also available for problems in book.
Excellent book, provides very descriptive applicable applications of the different formulation styles (bi-nomial option pricing, black-scholes, etc.). That being said it is still a text book and does need to be approached as such. It will not explain how to trade derivatives, etc. It does explain derivatives in an excellent way which makes the theory very understandable.
I bought this to prepare for the third actuarial exam, and I was very annoyed to discover it didn't have answers to ANY of the problems in the book. Honestly, what's the point of having a math textbook without solutions? You read the text (which is, I grudgingly admit, pretty well-written), you feel like you know what's going on, so you try out a problem, you turn excitedly to the back of the book to see if in fact you do understand how to do it, and...NO ANSWERS! What a waste of a good textbook.
This is a required textbook for the CAS professional Actuarial Science exam (FM/2). I feel the author provides good examples in the text to facilitate easier learning and understanding.