This book is actually quite weak. While, the other books recommended by Actuarial Societies are quite strong, this one does not hold up. There are not enough examples or problems in the book. In addition, the book continually reuses the same information in its examples requiring less thought to get through them.My biggest complaint is how the book approaches Put-Call Parity. This book offers the worst explanation for that concept I have ever read, which is sad because it is the basis for pricing calls and puts.