<t>If they agreed to sort out my tuition costs and offered decent pay I would snap their arm off!One consideration is the fact that I probably wouldn't be able to get one day a week for study but, to be honest, I struggle to take my study days anyway.Tibbar - you're right re programming and the lack...

I can't speak for everyone but I'd love to work in quant finance after I qualify as an actuary. The job seems far more interesting than what I am doing at present (investment consulting).dq

I like your icon BTW - very sweet!

<t>Hey Shguo6,The most obvious thing your (the examiners) questions point to is the existence of the volatility smile (or volatility skew as its sometimes called).If Black-Scholes were 100% accurate then you would expect the volatilities implied from the market prices of, say, calls on the same unde...

you could google finspreads - binary options can be traded for as little as 50p per point!Anyone have any tips on really good websites?

<t>Are you asking why this situation represents an arbitrage?If so, consider 2 call options with strikes K1 and K2 (K2 > K1), and respective premia C1 and C2.A call bull spread consists of purchasing C1 and selling C2. The maximum payoff at maturity is K2 - K1 and the cost of the bull spread is C1-C...

Hi,Not sure the CiD at the end of Trader Joe's link is the same as the CiD HappyChap is talking about - i.e. the one set by the Institute of Actuaries.Hey HappyChat - did you sit the CiD in September? Was this at Hammersmith? I just sat it too - how did you get on?

AKA Siegels paradox

Apologies Alan, please could you explain why its a silly simulation?Thanksdq

<t>I know what you mean - just regard it as a mathematical trick!Most people know how to "do" integration. One technique used when integrating a function is to transform the variable so that the integrand (the thing we are integrating) is in a "nice" form (i.e. more tractable).I think of changing th...

<t>Eqn 3 defines the distribution of dW_q(t) but under the p probability measure.I.e, under p, dW_q(t) ~ N((mu-r)/sigma dt, dt) (ps - I think you made a small error when you wrote your question , the distribuition of the increments for dW_p(t) are normal(0, dt) and not N(0,1) )The next step in the m...

I agree with tibbar - 3 yrs PQE should be getting you nearer 60K

<r>Thanks DCFC. Is there any chance you could elaborate on what constitutes "relevant maths"?Stochastic calculus is covered (to an extent) in the actuarial syllabus. I actually think the approach taken is a good one - certainly more practical than the approach taken at University. Also, basic time s...

<t>Hi Tibbar,Thanks for the tip - I have to say I'm surprised that BarCap would take on IC Actuaries as quants. Thanks for giving me hope!BTW - I have pondered over GI. I'm pretty confident it would be more interesting than what I'm doing at the moment but I can't bring myself to make yet another mo...