General Cash Flows (GCF), Portfolios and Asset Liability Management (ALM) | Exam FM Study Manual

The Actuarial Nexus

Section 5. General Cash Flows (GCF), Portfolios and Asset Liability Management (ALM)

$\displaystyle \sum_{t=0}^{n} \frac{C_t}{(1 + i)^t}$

5.0. Net Present Value

$NPV=0$

5.1. Internal Rate of Return

$s_n, f_{n}$

5.2. Term Structure of Interest Rates

$\dfrac{\sum_{t=1}^n t \times PV_t}{\sum_{t=1}^n PV_t}$

$A=L$

5.5. Immunization