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The better of the two prescribed books

  • Thread starter Jannus Redelinghuys
  • Start date
J

Jannus Redelinghuys

Member
Hi all

I’m considering writing ERM next year and would like to start looking at the content. However, it seems costly to but the acted notes, Sweeting and Lam textbooks. I know both books are part of the syllabus, but I would prefer to only buy one.

Could someone recommend which book is the more useable of the two? Won’t most of the content between the two books overlap anyways?

And then, how horrible would it be if I purchased sweeting edition 1, which is currently about a quarter of the price of the second edition. Apart from fixed errata, has the content changed between the two editions?

Thanks in advance
 
Hi Jannus

The content overlaps, the ActEd course notes for each "module" suggest chapters in each to read. Lam is very readable and is suggested by ActEd as a book you could read cover to cover before starting on their Course Notes. Sweeting is more technical, and (I am told) more useful for the mathematical content of the syllabus.

Rather than decide on one, you could request an Athens account from the IFoA Library Service (email: libraries@actuaries.org.uk subject: Request for Athens access to IFoA eLibrary) - this is mentioned on the page for some other SP/ST subjects but not SP9 for whatever reason.
Athens allows you access to the IFoA Knowledge Hub, including access to ebooks and periodicals. Athens is available to IFoA members and affiliates.
https://www.actuaries.org.uk/documents/athens-manual

You may have to check a few of the libraries available through Athens to find a copy of each book, and some only provide you ebooks for 7 to 14 days before you need to download them again, but this does allow you to make your way through the books for free.

You could also keep an eye out for second hand copies of the books (particularly just after results day) or ask colleagues if they are able to loan you a copy.

Best of luck!
Ben
 
Thank you Ben, very useful to know about the Athens account.

Jannus - to answer your question about Sweeting Versions 1 and 2. Version 2 contains additional material on:

- cyber risk
- environmental risks
- BASEL III and Solvency II
- case studies

to name but some of the changes.

I recommend Version 2 rather than Version 1 of Sweeting as it is mandated reading for SP9. I worry that, by referring to an old version of the text, you will end up being 'caught out' somehow, eg a detailed question on cyber risk appeared in the exam a year or so ago.

Hope you mange to get hold of both Sweeting (v2) and Lam.
Anna
 
This is subjective, of course, but it seems to me that Sweeting will be better.
 
Hi!
Can you guys please guide me a little on how to go about the SP9 prep?
Should I read either or both of the books - LAM & Sweeting before I go to the core reading or do I refer to those as I cover each chapter of core reading?
Any tips and suggestions would be greatly appreciated!
Anything that you think worked for you or might be a great strategy!
Thank you so much in advance!
 
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