Changes afoot for 2007
Believe you me Squibbles, we've wanted to do some condensing for some time!
ActEd have just received the Core Reading for 2007 and we're in the process of making some changes to the course notes. For example, we're combining:
- the 2 chapters on Contract Design
- the 2 chapters on Reinsurance
- the 2 chapters on Capital
- the various chapters on Risk
- the 2 chapters on Valuing benefits.
I wouldn't say the 2007 students are necessarily getting a better deal. Still a similar content, just structured differently.
The original (old) structure was based on the Core Reading and the Core Reading was written around the control cycle. So, for example, you'd get a chapter on reinsurance products (part of knowing the general commercial environment) and a chapter on using reinsurance to manage risk (part of develop the solution). There was some logic to it and you could argue that a bit of repetition of ideas was good for reinforcing learning.
However, it did make the course unnecesarily long, and in some cases there was too much duplication and even contradiction. We've been working with the Institute/Faculty staff actuary to rectify a lot of this. It's still going to be a big course, but remember it is the equivalent of two old world 300-series exams.
Why wasn't it done before? Well, really an issue of timing. The priority for 2005/6 was to have a course for students to study, some learning aids and to provide tuition. It's only now that the tutors are not teaching for a couple of months that have a significant chunk of time to reappraise/rewrite.
All the best for the exam results.