金融數學在金融市場的眾多領域中占有重要的地位。數學的應用對金融產生深遠的影響，也創造許多新的金融產品。本文主要是探討與美國壽險精算學會精算考試相關的金融數學，以衍生性商品為主。研究主題包含遠期合約、期貨、選擇權、交易策略及避險、備兌買權、備兌賣權、合成式遠期合約、信用價差、利率雙限、跨式交易、勒式交易等。我們應用各種圖表，如衍生性商品的收益圖和利潤圖，來增益了解精算考試中的金融數學。

Financial mathematics plays a crucial role in many sectors of financial markets. The application of mathematics has had a profound effect upon finance and has allowed the creation of new financial products. In this study we focus on the financial mathematics related to SOA (Society of Actuaries) exams. The topics includes forward contract, future, options, trading strategy and hedging, covered calls, covered puts, synthetic forwards, spreads, collars, straddle, strangle, etc. We introduce a variety of charts to enhance understanding of the financial mathematics in SOA exams.

論文審定書 i
致謝 ii
摘要 iii
Abstract iv
表次 vi
圖次 vii
第一章 前言 1
第二章 遠期合約、期貨 3
1.1 名詞介紹 3
1.2 遠期合約進階考題 7
第三章 選擇權 12
2.1 名詞介紹 12
2.2 選擇權進階考題 18
第四章 交易策略、避險 28
3.1 交易策略 28
3.2 使用衍生性商品避險 43
3.3 交易策略、避險進階考題 45
參考文獻 52
索引 54

Hassett, M.J., Ratliff, M.I., Garcia, T.C. and Steeby, A.C (2011). ACTEX FM/2 Study Manual. ACTEX Publications.
Hull, J.C. (2011). Options, Futures, And Other Derivatives, 8th edition. Prentice Hall., NJ.
Luenberger, G.D. (2014). Investment Science, 2nd edition. Oxford University Press, New York.
McDonald, R.L. (2012). Derivatives Markets, 3rd edition. Prentice Hall., NJ.