SP9 and how much math

Getting more and more into a risk career and want to complete either a CERA or a FRM. FRM seems more widely recognised across diff financial industries, and does anyone know if it is easier? its all multiple choice.

Please for SP9 how much math are there? I have been told there are a fair amount, say 1/4? but in the final exams are there any calculation type of questions usually?

Thank you!

 

Hi,
The syllabus for the SP9 subject can be found here if you want to have a look at the topics: SP9-Syllabus-2022.pdf (actuaries.org.uk)

To answer your question, while the core reading has chapters on maths/stats topics, there is nothing new which you have learnt from your earlier Core Principles modules, i.e., Extreme Value Theory, Copulas, Time Series, Fitting Models and statistical distributions. In SP9, given this is a specialist principles module, the examiner will only be testing the application of such topics in a scenario. Please see below excerpts from the IFoA:

• “It should be noted that the focus of the examination will be on testing candidates’ understanding of the material and their ability to apply the techniques described in the Core Reading in practical situations and scenarios.”
• “Formulae for any required probability distributions (including means and variances, generator functions and expressions of copulas), if not already given in the Formulae & Tables book, will be provided in the question.”
• “Other formulae that form part of a definition are examinable and should be known. The remainder of formulae contained in the required reading is examinable but will be provided in the question if they are needed.”

Hope this helps.