A Comprehensive List of Free Study Materials for Exam 3F / Exam MFE

Here, I will attempt to give you the ability to access all freely available materials (within my awareness) for preparing for actuarial exam 3F / MFE. These materials exist on various sites, so consider this page as an aid in navigating to each practice problem and study note. Each of these links goes to the original versions of the problems, made available by their respective authors.

It is highly recommended that you go through each of the 84 sections of practice problems and solutions available in The Actuary's Free Study Guide for Exam 3F / Exam MFE. This is, to my knowledge, the first effort to render available free problems and solutions that comprehensively cover the exam syllabus. As of May 5, 2008, The Actuary's Free Study Guide contains 418 practice problems with which you can develop your knowledge of exam concepts and problem-solving techniques. I have tried to write the study guide in an easily accessible manner that gives students a basic introduction to each concept before subjecting them to questions of exam-level difficulty.

But there are other resources freely available online as well, and it will be to your advantage to use every one of them - especially considering that the monetary cost of doing so is zero, and the time spent on them will greatly enhance both your knowledge and your likelihood of doing well on the exam.

The list below includes links to various free study materials as well as 156 practice problems with solutions - written by various authors. With my study guide and these questions, you will be able to attempt a total of 574 free practice problems in preparation for this exam.
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***Free Study Materials:***
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Excerpt on Interest Rate Models (Chapter 24) from Actuarial Brew

Exam MFE Flash Cards by colemstpeter, Part 1

Exam MFE Flash Cards by colemstpeter, Part 2

MFE Study Guide by Colby Schaeffer. This study guide does an excellent job at concisely expressing many of the important formulas for the exam in an easily printable and accessible format.

Notes on Arbitrage by siomai_lover
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***Past Actuarial Exams and Solutions:***
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Society of Actuaries Spring 2007 MFE Exam- 18 relevant questions

Solutions to Society of Actuaries Spring 2007 MFE Exam from Actuarial Brew

Society of Actuaries MFE Sample Questions and Solutions- 20 relevant questions

Answers to Society of Actuaries MFE Sample Questions from Actuarial Brew

Casualty Actuarial Society Spring 2007 Exam 3

16 Relevant problems: 3, 4, 12, 13, 14, 15, 16, 17, 20, 21, 32, 33, 34, 35, 36, 37

Answers to CAS Spring 2007 Exam 3 from Actuarial Brew

Casualty Actuarial Society Fall 2007 Exam 3

17 Relevant problems: 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29

Answers to CAS Fall 2007 Exam 3 from Actuarial Brew
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***Practice Problems and Solutions from Actuarial Brew:***
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15 Practice Problems and Solutions on Chapter 9 of Derivatives Markets

Notes on Gap Options (Chapter 14) and 3 Practice Problems and Solutions

Notes on Valuing Power Derivatives (Section 20.7) and 5 Practice Problems and Solutions

Detailed Solutions to Actuarial Brew's Section 20.7 Problems
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***Practice Problems and Solutions by Dr. Sam Broverman:***
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1. Problem on Arbitrage: January 15, 2007

2. Problem on Options and Insurance: January 22, 2007

3. Problem on Floors: January 29, 2007

4. Problem on Collars: February 5, 2007

5. Problem on Butterfly Spreads: February 12, 2007

6. Problem on Arbitrage: February 19, 2007

7. Problem on Binomial Option Pricing: February 26, 2007

8. Problem on Binomial Option Pricing With American Options: March 5, 2007

9. Problem on Binomial Option Pricing With American Options: March 12, 2007

10. Problem on Option Greeks: March 19, 2007

11. Problem on Option Greeks: March 26, 2007

12. Problem on the Black-Scholes Formula: April 2, 2007

13. Problem on Binomial Option Pricing: April 9, 2007

14. Problem on Binomial Option Pricing: April 16, 2007

15. Problem on Binomial Option Pricing: April 23, 2007

16. Problem on Binomial Option Pricing: April 30, 2007

17. Problem on Put-Call Parity and Arbitrage: May 7, 2007

18. Problem on Binomial Option Pricing: May 14, 2007
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***Practice Problems and Solutions by Dr. Ewa Kubicka:***
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1. Problem on Put-Call Parity: June 30, 2007

2. Problem on Variants of the Black-Scholes Formula: July 7, 2007

3. Problem on the Black-Scholes Formula: July 14, 2007

4. Problem on Arbitrage: July 21, 2007

5. Problem on Put-Call Parity With Currency Options: July 28, 2007

6. Problem on Geometric Brownian Motion and Conditional Variance: August 11, 2007

7. Problem on Geometric Brownian Motion: August 18, 2007

8. Problem on Geometric Brownian Motion and Quadratic Variation: August 25, 2007

9. Problem on Delta-Hedging: September 1, 2007

10. Problem on Compound Options: September 8, 2007

11. Problem on Barrier Options: September 15, 2007

12. Problem on Binomial Option Pricing With American Options: September 29, 2007

13. Problem on Binomial Option Pricing: October 13, 2007

14. Problem on the Black-Scholes Formula: October 20, 2007

15. Problem on International Business Contracts, the Garman-Kohlhagen Formula, and Brownian Motion: October 27, 2007

16. Problem on the Black-Scholes Formula: November 3, 2007

17. Problem on Put-Call Parity: January 12, 2008

18. Problem on Put-Call Parity and Synthetic T-Bills: January 19, 2008

19. Problem on Binomial Option Pricing: January 26, 2008

20. Problem on the Black-Derman-Toy Interest Rate Model: February 3, 2008

21. Problem on Barrier Options: February 9, 2008

22. Problem on Delta-Hedging: February 16, 2008

23. Problem on Option Greeks: February 23, 2008

24. Problem on Geometric Brownian Motion: March 8, 2008

25. Problem on Binomial Option Pricing: March 15, 2008

26. Problem on Put-Call Parity and Arbitrage: April 18, 2008

27. Problem on Binomial Option Pricing: April 25, 2008

28. Problem on Binomial Option Pricing: May 3, 2008

29. Problem on Put-Call Parity: June 9, 2007

30. Problem on Binomial Option Pricing: June 16, 2007

31. Problem on Ito's Lemma: June 23, 2007
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***Practice Problems and Solutions by Dr. William Cross:***
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13 Practice Problems

Video Solutions
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See other sections of The Actuary's Free Study Guide for Exam 3F / Exam MFE.