Exam MFE/3F Seminars


Online Seminar

 Viewable for 180 days (plus 180 more days if unsuccessful)


Live Seminar

Washington, DC: Thursday - Saturday (full days) and Sunday until 3:00, June 12 - 15



Seminar Location

We will offer one live seminar for the July 2014 MFE/3F exam cycle:

Students may register for this seminar with either the Actuarial Bookstore or Actex.

Students who are interested in attending the seminar but who are not quite ready to register may email info@actuarialbrew.com.




From a student who attended our MFE/3F Live Seminar in DC: "I succeeded in passing MFE.  After taking the [ActuarialBrew] course and using the materials, I felt like this program was the difference maker." 

Another student said, "I attended the MFE seminar in St. Petersburg. I found it was the perfect cap to my studying. I took, and passed, the exam. I will definitely recommend the seminar to others."


Seminar Details

Students who register for one of our MFE/3F Seminars will receive a copy of our PDF eStudy Manual by email soon after seminar registration is confirmed.


Registration for the Summer 2014 MFE/3F seminar is open.  Our seminars have been filled to capacity in the past, so it is best to register early.  Once a class fills up, a waitlist will be started.


We also offer an Online Seminar.  The online seminar provides about 20 hours of seminar video in 53 episodes.

To watch a sample of our online seminar, click here.


We also offer a Seminar Combo package of our live seminar and our online seminar at a substantial discount.  More information is provided below.


If you have registered for a seminar and have not received a confirmation email about the seminar within a week after registration, please send an email to info@actuarialbrew.com.  Sometimes firewall settings prevent emails from being delivered, so if you have not received an email within a few days of registering for the seminar, please let us know.


Live Seminar Overview

Our Summer 2014 MFE/3F Washington, DC seminar is a 3.75-day seminar that runs from June 12 - 15 (Thursday through Saturday from 9:00 to about 5:30 and on Sunday from 9:00 until about 3:00). 

Students who are interested in attending a seminar but who are not yet ready to register for the seminar can email us at info@actuarialbrew.com so that we know you would like to attend.  While we can't hold a spot in the seminar for unregistered students, we can let interested students know if the seminar nears capacity so that you can register before it fills up.

Class size is limited to enhance the student experience.  Students should register soon before the seminars reach capacity.  Once we have filled each seminar's available slots, we will make an announcement in this space.  Unfortunately, once we reach the limits of each conference room, we must begin to wait-list students.  Some wait-listed students have not been able to attend the seminar.   

Students can register for the live seminar with Actex or the Actuarial Bookstore.


Seminar Summary

Please note that the live seminar is a 3.75-day seminar.  The seminar is an intensive, fast-paced review session that will cover the major topics of the required material.  Over 200 exam-style questions will be provided at the seminar.  We will work as many of these as possible in class.  Students can take the seminar handout and questions home with them to review and rework after the seminar ends.


The online seminar has about 20 hours of video segments.  The online seminar is very similar to the live seminars.


The ActuarialBrew.com MFE/3F Seminar provides a detailed explanation of the MFE/3F syllabus to help you quickly review the concepts as you prepare for the exam.  For students who had the unfortunate experience of failing the exam in a prior sitting, this seminar provides an excellent opportunity to review the course of reading and make the most of the remaining time until the exam.

Our MFE/3F Seminar provides a comprehensive explanation of the required material with a special emphasis on:

To get the most out of the seminar, students should have read through the course of reading at least once before the seminar begins.

Working exam-style questions is the real key to passing Exam MFE/3F, so we spend a significant amount of the seminar working exam-style questions.  Seminar students are provided with over 200 exam-style questions, most of which will be worked in class.  Full solutions to the seminar practice questions are also provided.

Seminar students receive a copy of our eStudy Manual study manual soon after registration is confirmed.

At the live seminar, we provide students with a copy of the seminar presentation, which includes a summary of important formulas and concepts, as well as over 200 questions with full solutions. 



Washington, DC Seminar Details

This live seminar is a 3.75-day seminar that will be held from Thursday, June 12 to Sunday, June 15.  On Thursday through Saturday, the seminar starts promptly at 9:00 in the morning and it ends at approximately 5:30.  On Sunday, the seminar starts promptly at 9:00 in the morning and ends at approximately 3:00.

This live MFE/3F seminar will be held at the Quincy hotel, which is located at 1823 L Street, NW, Washington, DC.  Reservations for the hotel can be made by calling 1-202-833-8639 x7050 or by emailing reservations@thequincy.com.  Students who mention ActuarialBrew when making a reservation before May 11 will get a discounted studio suite rate of $199 per night. The hotel's website is www.thequincy.com

The hotel is located in downtown DC about 4 blocks northwest of Lafayette Square and the White House.   

Important Note: The hotel has advised us that there are only a limited number of rooms available at this rate, so students who register for the seminar should make their hotel reservations as soon as possible.  The hotel expects to be sold out during the time of the seminar due to other convention activities in the area, so please do not delay to make your hotel reservations.


To Register for the Live Seminar:

Students are advised to register early since class size is limited.  Students may register for the seminar through Actex or the Actuarial Bookstore.

The registration deadline for this seminar is June 6.  Students who cancel their registration before March 7 will receive a 100% refund (less $50 for the eStudy Manual). Students who cancel between March 7 and May 2 will receive a 50% discount (less $50 for the eStudy Manual).  No refund is provided if students cancel after May 2.  We reserve the right to cancel the seminar until May 9, in which case a full refund would be provided (less $50 for the eStudy Manual). However, we fully intend to run the seminar.



Online Seminar Details

Our online seminar is a series of online videos that provide a comprehensive and highly detailed overview of the required reading to help you review the concepts as you prepare for the exam.  The online seminar is very similar to our live seminars.  Online seminar students are provided with over 200 exam-style questions with full video solutions.

The nature of the online seminar allows students to view the seminar at their own pace and at their own convenience, pausing and viewing the material again as needed from the comfort of their own homes or offices. 

Click here to view a sample of our online seminar.

Students who purchase our online seminar also receive email support and a copy of our PDF Review Notes study manual by email soon after their registration is confirmed.

Students will have access to the online seminar for 180 days.  If a student is unsuccessful, access to the seminar will be extended for another 180 days.

There are 53 video segments with about 20 hours of seminar video.


The online seminar is organized into major topics:

I. Parity and Other Option Relationships (7 episodes)

     -Episode 1: Put-call Parity & Synthetics

     -Episode 2: Arbitrage, Bid-Ask Prices, & Equity-Linked Products

     -Episode 3: Exchange Options

     -Episode 4: Currency Options

     -Episode 5: Option Bounds & Varying K

     -Episode 6: Prices & K, Spreads & Propositions 1 & 2

     -Episode 7: Proposition 3

II. Binomial Option Pricing (5 episodes)

     -Episode 8: Binomial Option Pricing

     -Episode 9: Realistic Probabilities & American Options

     -Episode 10: Index Options, Currency Options & Greeks

     -Episode 11: Options on Futures

     -Episode 12: State Prices, Utility Values & Valuing Assets

III. Black-Scholes Formula (2 episodes)

     -Episode 13: The Black-Scholes Formula, Normal Distribution, Dividens & Volatility

     -Episode 14: Currency Options & Options on Futures

IV. Greeks (3 episodes)

     -Episode 15: The Greeks, Prices, Derivatives & Delta

     -Episode 16: Gamma, Vega, Theta, Rho, Psi & Portfolio Greeks

     -Episode 17: Elasticity, Sharpe Ratio & Holding-Period Profit 

V. Hedging (3 episodes)

     -Episode 18: Market Makers, Delta Hedging & Approximations

     -Episode 19: Black-Scholes Equation, Market-Maker Profit & Rebalancing 

     -Episode 20: Delta-Gamma, Delta_gamma-Rho, & Delta-Gamma-Vega Hedging

VI. Exotic Options (8 episodes)

     -Episode 21: Asian Options & Sampling Frequency

     -Episode 22: Barrier Options

     -Episode 23: Compound Options

     -Episode 24: Gap Options

     -Episode 25: All or Nothing Options

     -Episode 26: Delta & Supershares

     -Episode 27: Exchange Options & Maximum & Minimum of 2 Assets

     -Episode 28: Chooser & Forward Start Options

VII. Lognormal Stock Prices (5 episodes)

     -Episode 29: Normal & Lognormal Distributions, Moments & Covariance

     -Episode 30: Stock Price Probabilities & Lognormal Confidence Intervals

     -Episode 31: Realistic Probabilities, Risk-Neutral Expectations & The Black-Scholes Formula

     -Episode 32: Mean Return, Lognormal Parameters & Volatility

     -Episode 33: Histograms, Lepokurtosis & Normal Probability Plots

VIII. Monte Carlo Valuation (4 episodes)

     -Episode 34: Converting Uniform to Normal, Normal RV as Quantile & Simulating Stock Price Paths

     -Episode 35: Monte Carlo Valuation, Standard Deviation & Asian Option Valuation

     -Episode 36: Control Variate Method, Variance & Minimum Variance

     -Episode 37: Antithetic Method & Stratified Sampling

IX. Brownian Motion and Ito's Lemma (10 episodes)

     -Episode 38: Standard Brownian Motion

     -Episode 39: Arithmetic Brownian Motion & Ornstein-Uhlenbeck Process

     -Episode 40: Geometric Brownian Motion & Portfolio Returns

     -Episode 41: Expected Values & Variances & Product of Stock Prices

     -Episode 42: Correlated Ito Processes & Multiplication Rules

     -Episode 43: Sharpe Ratio, Negative Volatility, Arbitrage & Risk-Neutral Processes

     -Episode 44: Ito's Lemma, Delta-Gamma-Theta Approximation & Integrating SDE's

     -Episode 45: Claim on Sa, Expected Return & Dividend Yield

     -Episode 46: Forward Prices, Expected Value & Power Options

     -Episode 47: The Black-Scholes Equation, Expected Return & Volatility & Risk-Neutral Pricing

X. Interest Rate models (6 episodes)

     -Episode 48: Duration Hedging, Bond Prices & Short Rates, r & P, Delta-Gamm-Theta, Sharpe Ratio & Derivatives

     -Episode 49: Continuous Models, Renelman-Barrter & Vasicek

     -Episode 50: Cox-Ingersoll-Ross Model

     -Episode 51: Bond Price Notation, Forward Interest Rates, Black Model, Caps, Caplets, Puts & Floorlets

     -Episode 52: General Binomial Model & Forward Rate Agreements

     -Episode 53: Black-Derman-Toy model


Please note that the online seminar is a dynamic product and that we will continue to update it in order to be most helpful for students to prepare for the exam, so we may modify it from time to time.  When significant changes occur, an updated seminar document will be emailed to students who have access to the online seminar.

The online seminar is for the exclusive use of the student who purchases it.  Within two business days after ordering the online seminar (but usually within a few hours), students are emailed information needed to create an online account that can be used to view the online seminar.  Usage is tracked by user name and IP address.  If suspicious activity is found, we reserve the right to suspend the account for violation of the terms of use.


To Register for the Online Seminar

Students may register for the online seminar through either the Actuarial Bookstore (1-800-582-9672) or Actex (1-800-282-2839).  Students have access to the online seminar until exam day.  If a student is not successful on exam day, the student's access to the online seminar will be extended for another 180 days.  Refunds for the online seminar cannot be provided once a student has started to view it.


Student Discount for Online Seminar

Students who are registered at an accredited college/university may qualify for a substantial discount for the Online Seminar.  To check to see if you are eligible for a $200 savings, please email us at info@actuarialbrew.com using your student email address and provide the name of your college/university and the name of your math/actuarial professor along with his/her email address or phone number.  Students must inquire about discount before placing an order for the Online Seminar.



Seminar Combo Package: Live and Online Seminars

Students receive a substantial discount when combining one of our live seminars with our online seminar.  The online seminar is very similar to our live seminar, so this is a great way to get both the personal interaction of the live seminar with the repeated viewing option of the online seminar.

To order the Washington, DC Seminar Combo (Live + Online) package, students may register through the Actuarial Bookstore or Actex.



Complete Online Combo Package

Students will receive a discount if they would like to order the Complete Online Combo study package, which includes the Online Seminar, eStudy Manual, eQuestions, eSet of 4 Practice Exams and the eFlashcards. 

The Complete Online Combo study package may be ordered through the Actuarial Bookstore or Actex.


Host a Seminar

If your company is interested in hosting a seminar at your location, please let us know by sending an email to info@actuarialbrew.com



Seminar Instructor

Joe Francis, FSA, CFA

Francis is the author of ActuarialBrew.com's Exam MFE/3F Study Manual.  He also co-authored Financial Mathematics - A Practical Guide for Actuaries and Other Business Professionals, which is an approved text of the Society of Actuaries for Exam FM.  Francis has been teaching MFE/3F seminars since the exam was introduced.

Francis has over 10 years of experience in the actuarial education field.  He also has almost 15 years of experience working in the insurance industry.

Francis has been teaching MFE/3F seminars since the exam was introduced in 2007.  He also teaches financial mathematics as the actuary-in-residence at Indiana University - Purdue University Fort Wayne.