  Using the Hopkins Ultraviolet Telescope (HUT), we have obtained 850-1850
angstrom spectra of the magnetic cataclysmic variable star AM Her in the high
state. These observations provide high time resolution spectra of AM Her in the
FUV and sample much of the orbital period of the system. The spectra are not
well-modelled in terms of simple white dwarf (WD) atmospheres, especially at
wavelengths shortward of Lyman alpha. The continuum flux changes by a factor of
2 near the Lyman limit as a function of orbital phase; the peak fluxes are
observed near magnetic phase 0.6 when the accreting pole of the WD is most
clearly visible. The spectrum of the hotspot can be modelled in terms of a 100
000 K WD atmosphere covering 2% of the WD surface. The high time resolution of
the HUT data allows an analysis of the short term variability and shows the UV
luminosity to change by as much as 50% on timescales as short as 10 s. This
rapid variability is shown to be inconsistent with the clumpy accretion model
proposed to account for the soft X-ray excess in polars. We see an increase in
narrow line emission during these flares when the heated face of the secondary
is in view. The He II narrow line flux is partially eclipsed at secondary
conjunction, implying that the inclination of the system is greater than 45
degrees. We also present results from models of the heated face of the
secondary. These models show that reprocessing on the face of the secondary
star of X-ray/EUV emission from the accretion region near the WD can account
for the intensities and kinematics of most of the narrow line components
observed.
