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PAK-Part I contains 5 sections and PAK-Part II contains 5 sections. Each section contained in the study note comprises many inter-connected sub-sections.  The table below summarizes the 10 PAK-sections contained in PAK-part-I and PAK-part-II:

PartsSecion IDPAK SectionsSOA TopicsWeight (%)
Part I1Mean Variance Portfolio TheoryMean Variance Portfolio Theory10-15
2Asset Pricing ModelsAsset Pricing Models 5-10
3Market Efficiency and Behavioral FinanceMarket Efficiency and Behavioral Finance5-10
4Investment Risk and Project AnalysisInvestment Risk and Project Analysis10-15
5Capital StructureCapital Structure 10
Part II6Introductory derivatives: Forward, futures and ins. DerivativesIntroductory derivatives: Forward, futures and ins. Derivatives5-10
7General properties of opionsGeneral properties of opions 10-15
8Binomial Optioin pricing modelsBinomial Optioin pricing models 10
9Black Scholes Option pricing modelsBlack Scholes Option pricing models 10-15
10Option Greeks and risk managementOption Greeks and risk management 5-10

Each of the section is in turn organized in many subsections spanning the official source syllabus:

  • The PAK subsections synthesize the theories and concepts from the official source reading,
  • The PAK subsections contain examples and practice to illustrate the theories and concepts from the official source reading,
  • The PAK subsections are inter-connected and assembled in a way that will facilitate a holistic comprehension of the official source reading and enhance the understanding of the official source reading,
  • The PAK subsections are beautifully written, they provide clear and better explanations, illustrative examples to fix the concepts.
  • Each of the 5 sections of PAK-Part-II contains a set of 30+ practice exam-type questions and detailed solutions in addition to the illustrative examples contained in the PAK study notes.
  • The PAK subsections are well-organized and user-friendly and the organization of the PAK sections and subsection allows a more efficient learning process.

The PAK study notes are designed to help students adequately prepare for the IFM exam without recourse to the source materials (including SOA approved papers). The student is expected to (i) Read the PAK study notes, (ii) work the practice examples and the MOCK questions included in the PAK study notes and (iii) work the official practice questions from the SOA website, then (iv) re-work (ii) and (iii) until he/she can answer all questions independently.

PAK Study Manual for IFM

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