Start your actuarial career! Study the time value of money by learning about loans, bond valuation, duration, convexity, spot rates, forward rates and the term structure of interest rates. This actuarial science course covers foundational concepts tested on SOA Exam FM or CAS Exam 2. This course is part 2 of a 2-course program intended to help students prepare for the SOA Exam FM and CAS Exam 2.