Certificate in Financial Mathematics (CFM) - VBII

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Certificate in Financial Mathematics (CFM) - VBII

Preparatory courses for obtainingCertificate in Financial Mathematics (CFM)awarded by the Institute of Actuaries (UK)Courses are held in RigaLearn more at www.gilavar.lv/educationgilavarEducation and Training


Preparatory courses for obtainingCertificate in Financial Mathematics (CFM)awarded by the Institute of Actuaries (UK)AimThe course is designed to prepare participants for the exam to obtain acknowledged Certificate in FinancialMathematics (CFM) from the Institute of Actuaries, UK (www.actuaries.org.uk).DefinitionFinancial mathematics is a quantitative disciplinewhich is about the application of mathematics tofinance. The field is heavily overlaping with financialengineering and deals with such issues asinvestment appraisal, security valuation, derivativepricing, financial forecasting, portfolio managementand financial risk management.ReasonModern finance is hardly imaginable withoutmathematics. Asset valuation, risk management,cash flow modelling, derivatives, structuredproducts, performance measurement, regulationand many other aspects are in fact areas of appliedmathematics adapted to finance.• High-quality, interactive and saturatededucation• Experienced and qualified teaching staff• Apply obtained knowledge and skills in yourprofessional activities immediately• Undeniable assurance of your professionalcompetence - internationally recognisedCertificate in Financial Mathematics issued bythe influential Institute of Actuaries (UK)• One examination and no further membershipor other obligations are required• Convenient location - courses are held in Riga,exam centres are available in Riga, Vilnius andin other cities all over the worldAudienceThe course is mainly designed for professionals representing banking, asset management, insurance, pensionfunds, financial management and risk management. It is also well suited for recent graduates or even on-goinguniversity students willing to obtain firm knowledge and respected CFM which will definitely have significantcontribution to one’s future career.Cash flow modelsReal and moneyinterest ratesCFM syllabusCompound interestand discountingAnnuities and loanschedulesNominal interest ratesInvestment projectappraisalOutline and skillsThis is a professional course,which means that it concentratesboth on skills and theory.All the areas covered by thecourse are directly applicablein practice.Primitive securitiesand derivativesTerm structure ofinterest ratesFixed income securityanalysisDuration, convexityand immunisationForward contractBasic stochasticmodelsLocationCourses are held in Riga. Examinationfor obtaining CFMcan be taken in Riga, Vilniusand other examination centresall over the world approved bythe Institute of Actuaries.LanguageThe official language of the CFM exam is English, thus instruction language is also English. Students are notrequired to prove English language knowledge and should take into consideration, that intermediate knowledgelevel is sufficient to follow the course and take the exam. If necessary during the tuition students can haveconsultation in Latvian or Russian.www.gilavar.lv/education


Preparatory courses for obtainingCertificate in Financial Mathematics (CFM)awarded by the Institute of Actuaries (UK)FormatStudents register for the tuition with Gilavar Education and Training where several options are available andregister for the exam with the Institute of Actuaries (UK). Tuition lasts 6 full days divided into two long weekends(Friday-Sunday). Revision lasts 3 full days during one long week-end (Friday-Sunday). After revisionstudents can take two simulated real-life exams. Students take the actual exam with the Institute of ActuariesSome notable persons who hadsignificant contribution to financialmathematics are:Louis Bachelier, Fischer Black, JohnCarrington Cox, Eugene Fama, JohnC. Hull, Harry Markowitz, RobertC. Merton, Stephen Ross, MarkRubinstein, Myron Scholes, WilliamForsyth Sharpe and Oldrich Vasicek.(UK) on the date set by the examiner. On being successfulin exam after several months obtain Certificate in FinancialMathematics from the Institute of Actuaries (UK).RequirementsStudents are required to possess sound fundamental knowledgein mathematics. For those who wish to revise this subject, weoffer one day Math Primer preparatory course in mathematicsspecially designed for financial specialists. In general, youcan check the level of your knowledge by consulting with ourrepresentatives and taking appropriate pre-knowledge test.CertificationCandidates who successfully pass examination of the Institute of Actuaries (UK) in the Financial Mathematicsdiscipline will obtain internationally recognised Certificate in Financial Mathematics awarded by the sameinstitute. Certification does not require any membership or other type of affiliation neither with the Institutenor with any other organisation. More information about the certificate, as well as about detailed syllabus canbe obtained by contacting us or by visiting www.actuaries.org.uk.Tuition feesStudying with us you will save a lot on travelling, accommodation and other items plus you will get highquality tuition offered by experienced and certified teaching staff. Roughly, we target to make the tuition ofour students to be about twice more cost efficient in comparison to other popular tuition options. Please visitwww.gilavar.lv/education for current information on tuition fees, as well as on student, group and corporatediscounts.CFM study processConsult with us (e-mail: education@gilavar.lv, phone: +371 26032381, meet us: contact to appoint)Register for the courses with usRegister for the exam with theInstitute of ActuariesPurchase core booksCourse I (Riga)3 full days (Friday-Sunday)Course II (Riga)3 full days (Friday-Sunday)Revision (Riga) (optional)3 full days (Friday-Sunday)Exam simulation I and II (Riga)(optional)1 part day each (Saturdays)Take the exam with the Instituteof Actuaries (in Riga, Vilnius orelsewhere in the world)If successful, obtain theCertificate in FinancialMathematicswww.gilavar.lv/education


gilavarsimple.reliable.intelligentGilavar Education and Training is part of Gilavar company (www.gilavar.lv) which isincorporated in Latvia. Gilavar Education and Training aims to deliver high quality tutoringacross all three Baltic countries particularly in the spheres of financial mathematics, stochasticanalysis and modelling, financial forecasting, investment analysis, financial risk management,risk analysis and risk management.The Institute of Actuaries (www.actuaries.org.uk) is one of the two professional bodiesrepresenting actuaries in the United Kingdom and it is the oldest actuarial professional body inthe world. It was formed on 8 July 1848 and The Royal Charter of Incorporation was granted tothe Institute in 1884. The Institute provides professional qualification of actuaries throughoutrigorous study and examination procedure.An actuary (www.beanactuary.org) is a business professional who deals with the financialimpact of risk and uncertainty, mainly by applying sophisticated quantitative techniques tosolve real business problems. They provide commercial, financial and prudential advice on themanagement of assets and liabilities - especially where long term management and planningare critical factors. Actuaries are widely employed by banks, insurance companies, assetmanagement companies, pension funds, consultancy companies, government institutions andother enterprises.Gilavar Education and TrainingSIA GilavarBrivibas 214m-2, Riga, LV-1039education@gilavar.lv+371 26032381www.gilavar.lv/education

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