Summary: 1/??
Chapter 5. Bonds.
Manual for SOA Exam FM/CAS Exam 2.
Chapter 5. Bonds.
Section 5.1. Securities.
c 2009. Miguel A. Arcones. All rights reserved.
Extract from:
"Arcones' Manual for the SOA Exam FM/CAS Exam 2,
Financial Mathematics. Fall 2009 Edition",
available at http://www.actexmadriver.com/
c 2009. Miguel A. Arcones. All rights reserved. Manual for SOA Exam FM/CAS Exam 2.
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Chapter 5. Bonds. Section 5.1. Securities.
Securities
When a corporation or a public institution needs to raise money, it
arranges contracts with investors. These contracts are called
financial assets or securities. From the investor's view point,
securities are investment instruments, endorsed by a corporation,
government, or other organization. The borrower offers either debt
or ownership (equity). In the case of debt, the borrower agrees to

Source: Arcones, Miguel A. - Department of Mathematical Sciences, State University of New York at Binghamton

Collections: Mathematics