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Thread: Anyway to prepare for the new syllabus using 2010 ASM?

  1. #1
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    Anyway to prepare for the new syllabus using 2010 ASM?

    Greetings all!
    So a friend has basically given me his copy of ASM 2010 for MLC but I understand there are some changes to the syllabus.

    Is it still a good idea to study from this manual? Excluding Poisson Processes is a given... anything else added in that the manual doesn't cover????

    Any help or advice is greatly appreciated!

  2. #2
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    Quote Originally Posted by trsspidey View Post
    Greetings all!
    So a friend has basically given me his copy of ASM 2010 for MLC but I understand there are some changes to the syllabus.

    Is it still a good idea to study from this manual? Excluding Poisson Processes is a given... anything else added in that the manual doesn't cover????

    Any help or advice is greatly appreciated!
    Didn't SOA publish a note on what's changing?

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    NME,

    I presume this is the note?
    http://www.soa.org/files/pdf/edu-mlc-com-changes.pdf

    I guess I'm looking to see how this compares to what the 2010 MLC guide does before I really sink my teeth into it.
    "Inclusion of interest sensitive product cash flow models" implies that it's not covered in ASM... is this accurate? Am I SOL on that material when it comes to this manual???

    Aside from that it seems like removing poisson processes and putting more emphasis on other covered materials is the only change.


    I just want to be certain I'm not missing something! :P

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    Quote Originally Posted by trsspidey View Post
    NME,

    I presume this is the note?
    http://www.soa.org/files/pdf/edu-mlc-com-changes.pdf

    I guess I'm looking to see how this compares to what the 2010 MLC guide does before I really sink my teeth into it.
    "Inclusion of interest sensitive product cash flow models" implies that it's not covered in ASM... is this accurate? Am I SOL on that material when it comes to this manual???

    Aside from that it seems like removing poisson processes and putting more emphasis on other covered materials is the only change.


    I just want to be certain I'm not missing something! :P
    Yes, that was the note I was thinking of. If you are wondering about a particular study manual, I would contact the author. I think Abe W. wrote the MLC one for ASM.

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    Good call! Will definitely do that.

    Hope he doesn't just refer me to buy the newest edition though :P

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    Quote Originally Posted by trsspidey View Post
    Good call! Will definitely do that.

    Hope he doesn't just refer me to buy the newest edition though :P
    I think what is already on his website gives you sufficient information on this issue.

    Quote Originally Posted by http://www.aceyourexams.net
    However, to the extent a syllabus has not changed, old editions should be adequate. Here is guidance to owners of old editions as to whether they need a supplement or a new manual:

    For MLC, current edition for Spring 2012 is 11th edition. This edition reflects the new MLC syllabus. Older editions omit a significant portion of the current syllabus. In some cases, notation in the new syllabus is different from the old syllabus. Therefore, older editions are not recommended.

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    Quote Originally Posted by BeanCounter View Post
    I think what is already on his website gives you sufficient information on this issue.
    Ugh....
    As far as I saw though only one section was omitted! I'll try to figure out through email... I hope anyone else with similar worries can come forward too! (with a solution!?)

  8. #8
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    Quote Originally Posted by trsspidey View Post
    Ugh....
    As far as I saw though only one section was omitted! I'll try to figure out through email... I hope anyone else with similar worries can come forward too! (with a solution!?)
    One section?

    Survival distributions and life tables
    Insurances
    Annuities
    Premiums
    Reserves
    Markov chain models
    Models for multiple decrements
    Models for multiple lives
    Interest rate risk
    Profit measures
    Universal life


    The last few topics are new.

    PS. I wish I can use the old manual too.

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    Bean,

    I'm having trouble finding that information you've listed.... the link I posted has said this

    What is different compared to the current learning objectives?
    n Increased emphasis on multi-state transition models
    n Increased emphasis on discrete cash flow models
    n Inclusion of interest sensitive product cash flow models
    n Removal of Poisson processes

    so aside from one removal I only saw the increased emphasis on past material. Are you sure that the last few topics there are new??

  10. #10
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    Quote Originally Posted by trsspidey View Post
    Bean,

    I'm having trouble finding that information you've listed.... the link I posted has said this

    What is different compared to the current learning objectives?
    n Increased emphasis on multi-state transition models
    n Increased emphasis on discrete cash flow models
    n Inclusion of interest sensitive product cash flow models
    n Removal of Poisson processes

    so aside from one removal I only saw the increased emphasis on past material. Are you sure that the last few topics there are new??
    The list I posted is from the new ASM MLC manual (11th edition).

    According to the new syllabus, Chapters 1 - 11 of Actuarial Mathematics for Life Contingent Risks are required readings. (There are two textbooks. I just choose one of them.)

    Now, let's see the topics from this textbook:

    1. Introduction to life insurance; 2. Survival models; 3. Life tables and selection; 4. Insurance benefits; 5. Annuities; 6. Premium calculation; 7. Policy values; 8. Multiple state models; 9. Pension mathematics; 10. Interest rate risk; 11. Emerging costs for traditional life insurance;

    Even I haven't read it, I cannot recall that I have seen the last three chapters in the old syllabus.

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