Spring 2007 Basic Education Catalog

Updates

Exam C

In the migration to the new SOA Web site, we discovered some errors in the Course of Reading for Exam C in the Spring 2007 Catalog. We have now posted a corrected version of the Exam C Course of Reading in a PDF. We know this has caused some confusion and apologize for the inconvenience.–updated 05.14.07

Study Note C–25–07 "An Introduction to Risk Measures for Actuarial Applications" is part of the required reading for Spring 2007. This was inadvertently not available on our web site for about a week in February.–updated 02.22.07

Now available: MLC–09–07 Exam MLC Sample Questions and Solutions

–updated 03.12.07

Advanced Portfolio Management Exam (Investments) Exam Spring 2007

V–C131–07–Candidates are responsible only for pages 21–24 (relating to IAS 39) V–C132–07–Candidates are responsible only for pages 74–78 (relating to IAS 39)
–updated 03.01.07

Now Available:

Course 8 Solutions and Case Studies for November 2003, November 2004 and November 2005 –updated 02.22.07

Advanced Portfolio Management Exam (Investments) Exam Spring 2007

APM Formulae sheet is now available (PDF)–updated 02.13.07

Group and Health

Under Learning Objective #15, the references for the text Fundamentals of Retiree Group Benefits should be Ch. 7,8,9 and Appendix F.–updated 05.07.07

We have had some candidates ask about appendices on the Group and Health Course of Reading. Unless appendices are specifically excluded, they should be considered part of the Course of Reading.–updated 01.23.07

Exam M–Financial Economics

Study Note MFE–26–07, Actuarial Applications of Financial Economics, will not be available for distribution prior to the administration of the Spring 2007 Financial Economics Segment (Exam MFE). No questions based on the material in the study note will appear on the Spring 2007 Examination.–updated 12.05.06

Exam M–Financial Economics

Study Note MFE–26–07, Actuarial Applications of Financial Economics, will not be available for distribution prior to the administration of the Spring 2007 Financial Economics Segment (Exam MFE). No questions based on the material in the study note will appear on the Spring 2007 Examination.–updated 12.05.06

Exam M–Life Contingencies

There is a new edition of Models for Quantifying Risk on Exam M – Life Contingencies.  The change is reflected below and is also on the Exam M pages

Options B

• # Models for Quantifying Risk, Second Edition 2006, by Cunningham, R., Herzog, T. and London, R.L., Chapters,   3–10, excluding section 10.7. [Candidates may also use the First Edition, 2005, Chapters 5–6, 9–13, 15, Sections 15.1–15.4, 15.6–15.7. Candidates using the First Edition will need to supplement the text with the Errata Package available on the Actex web site actexmadriver.com] –updated 11.16.06

Individual Life and Annuities Exam

The following three CIA Educational Notes have been updated.  The links below are to the updated material.  The new links have also been posted to the ILA CSP Examination pages.

Educational Note
:Best Estimate Assumptions for Expenses  November 2006

Educational Note:
Approximations to Canadian Asset Liability Method (CALM),
November 2006

Educational Note:
Margins for Adverse Deviations, November 2006 –updated 11.16.06

Group and Health CSP Examination

1. Under Online Readings,
   the Asset Adequacy Analysis Practice Note, December, 2004, Academy of Actuaries, page references should be: pp. 1–7, 10–17,  62–66 only.
   
   
2. Under Online Readings, ASOP #16,
   
   • “Actuarial Practice Concerning Health Maintenance Organizations and Other Managed–Care Health Plans”, has been removed.
3. Under Online Readings, ASOP 25
   “Credibility Procedures Applicable to Accident and Health, Group Term Life, and Property/Casualty Coverages”, October 1996, ASB, page references should be pp. 1–5.
   
   
4. The following reference has been moved to the textbook section.  It will not be available as a study note :
   Analysis for Financial Management and Standard and Poor’s Educational Version  of Market Insight, Higgins, R.C., Eighth Edition, 2004, McGraw Hill/Irwin, Chapters 1, 2.
   –updated 11.17.06

The following changes have been posted to the Group and Health CSP Examination pages under Textbooks.

Corrected Chapter references for:

1. Handbook of Employee Benefits, Rosenbloom, J.S., Sixth Edition, 2005, McGraw Hill, Chapters 4, 9, 39, 41, 43, 45
2. Group Insurance, Bluhm, W.F., Fourth Edition, 2003, ACTEX, Chapters 1, 2, 14–21, 38, 39, 41
3. Managed Health Care Handbook, Kongstvedt, P.R., Fourth Edition, Aspen Publishers, Chapters 41, 42, 48 (exclude appendix),69
4. U.S. GAAP for Life Insurers, Herget, T., Second Edition, SOA, Chapters 1, 10, and Chapter 12, Section 12.1 only. –updated 11.16.06
   

Retirement Benefits CSP Examination

The following changes have been posted to the Retirement Benefits CSP Examination pages:

1. For U.S. and Canada, under the TEXTBOOKS THAT MAY BE AVAILABLE AS STUDY NOTES section, here are the corrected chapter references for: Managing Investment Portfolios, Maginn, J.L., Tuttle,D.L., Third Edition, Chapters, 3, 6, 7.
   –updated 11.16.06