New ST9 syllabus w.e.f. 2012 exams?

[David Wilmot]

We expect the syllabus (learning objectives) for ST9 to remain largely unchanged for the 2012 exams (when compared to the current 2011 syllabus).

However, the Core Reading and choice of textbooks will be updated (e.g. McNeil and Chapman will be replaced by a new textbook, yet to be published).

Further information will be added to this thread once it becomes available.

 

[David Wilmot]

See http://www.actuaries.org.uk/news/ar...ail+marketing&utm_term=Click+here+for+details

 

[CannonRee]

From the link:

For the 2012 exams, changes are being made to the textbooks that form part of the required reading for subject ST9. In particular, the McNeil et al and Chapman books will no longer be part of the Core Reading. Instead, a new book is being included: Financial enterprise risk management, by Paul Sweeting (Cambridge University Press).

As the publication date for this new book is September 2011, students who wish to start studying for the 2012 exams before then are advised to start with the IAA Practice Note and the Lam textbook, both of which remain part of the required reading. (The Standard & Poor's paper is also still part of the Core Reading, but the Society of Actuaries paper an economic capital is not).

This change has largely been implemented as a result of feedback from students about the current course. It aims to improve the quality of the underlying material without making significant changes to the overall objectives and principles covered.

For students studying for the September 2011 exams, there has been no change to the required reading material.

Where does this leave people sitting the course in Sept 11? It it worth spending time on McNeil / Chapman if they are going to be replaced?

Will there be a reduced rate for the replacement book for resitters?

Why isn't Lam being replaced? what I've read so far of it hasn't been that great, and its slightly egotistical in places.

 

[Simon James]

Where does this leave people sitting the course in Sept 11? It it worth spending time on McNeil / Chapman if they are going to be replaced?

This doesn't affect those sitting in September 2011. The Sept exam is based on the existing syllabus and textbooks - so if you are planning to sit in Sept, then yes it is worth spending time on them. Unfortunately if you are unsuccessful in Sept, it is the new text that will examinable from 2012.

If you need to resit, your learning from Chapman and McNeil will not be wasted - the new textbook covers much the same material (better). Chapman and McNeil will still help you understand ERM better - they will just not be directly examinable.

Will there be a reduced rate for the replacement book for resitters?

At ActEd we have not looked at our pricing yet - but for now assume it would be the same price as listed on Amazon.

Why isn't Lam being replaced? what I've read so far of it hasn't been that great, and its slightly egotistical in places.

Lam is a useful text. It gives a good introduction to ERM principles and, importantly, is not limited to financial services. While not perfect, it is easy reading and can help get you rapidly into the subject.

Overall, the ST9 tutors believe the changes in texts will improve students' experience studying ST9 and make it a better course. Unfortunately this doesn't help anyone taking it over the summer if they end up resitting in 2012 from the new textbook.

 

[Revelation]

If CannonRee finds Lam egotistical, I wonder what he'll make of a book written by Paul Sweeting...