Welcome to TIA’s Spring 2014 LFV Online Seminar!

Updated 12/2/2013 to add LFV-817 to list of new LFV-U readings

Welcome!

Spring 2014 registration is already well under way and folks are already signing up for our US and Canadian LFV online seminar. Even though the spring 2014 syllabus was updated by the LFV exam committees, our online seminar has already been restructured to be consistent with the both the new US (LFV-U) and Canadian (LFV-C) syllabi.

The detailed study manual and web-based video lessons have both been updated to reflect the new structure, which you can browse on the Lessons page as well as in the updated study schedule.

We’ve removed material no longer on the syllabus, and we’ve added placeholders for content based on new syllabus readings for spring 2014. These new lessons are being actively developed now and will be added to the online seminar according to the dates in the course status flyer in the Introduction section. I will also post updates to this blog as the online seminar is updated.

Curious how the syllabus changed from fall to spring? Well, here ya go. . .

LFV-US Syllabus Changes

Dropped Material:

  • LFV-127-13: IASB Staff Paper, Effect of Board Redeliberations on ED Insurance Contracts (July 2012)

New Material:

  • LFV-131-14: Economic Capital Overview: Chad Runchey (August 2012)
  • LFV-132-14: Practical Guide to IFRS, PwC (July 2013)
  • LFV-817-14: FASB exposure Draft (June 2013), pp. 24 – 64 (through to paragraph 834-10-50-37) plus Appendix A (pp. 376 – 395) and Appendix B (pp. 396 – 405)

Modified Material:

  • LFV-803-14: NAIC Standard Valuation Law
    • Formerly LFV-803-07

LFV-Canada Syllabus Changes

Dropped Material:

  • LFV-100-07: Financial Reporting Developments -Accounting for Derivative Instruments and Hedging Activities: A Comprehensive Analysis of FASB Statement 133
  • LFV-127-13: IASB Staff Paper, Effect of Board Redeliberations on ED Insurance Contracts (July 2012)
  • An Approach for measurement of the Fair Value of Insurance Contracts, Gutterman, et al., Actuarial Practice Forum, May 2007
  • LFV-130-13: Fair Value of Liabilities: The Financial Economic Perspective, NAAJ, Jan 2002
  • LFV-129-13: An Approach to Fair Valuation of Insurance Liabilities Using the Firm’s Cost of Capital, NAAJ, Apr 2002, p. 18-23
  • Financial Reporter Article April 2009, Rubin, et. al Fair Value Accounting: Trouble-maker or Life-saver?
  • LFV-629-11: Conversion to International Financial Reporting Standards (IFRSs) by Federally Regulated Entities (FREs)

New Material:

  • CIA Educational Note: CALM Implication of AcSB Section 3855 Financial Instruments – Recognition and Measurement
  • CIA Research Paper: Mortality Improvement Research Paper (September 2010)
  • CIA Educational Note: Reflection of Hedging in Segregated Fund Valuation (May 2012)
  • CIA Educational Note: Future Income and Alternative Taxes excluding Appendix D (December 2012)
  • LFV-131-14: Economic Capital Overview: Chad Runchey, August 2012
  • CIA Research Paper, IFRS Disclosure Requirements for Life Insurers (December, 2010)
  • CIA Educational Note on IFRS: Measurement of Investment Contracts and Service Contracts under IFRS (IASP 4)
  • CIA Research Paper on IFRS: Embedded Derivatives and Derivatives under IFRS (IASP 10)
  • LFV-638-14: Exposure Draft – Insurance Contracts under IFRS – IASB, Pages 13 – 64 (Standard and Application Guidance) (June 2013)
  • LFV-639-14: Practical Guide to IFRS, PwC, (July 2013)
  • LFV-640-14: OSFI: Life Insurance Regulatory Framework (September 2012)
  • LFV-641-14: Draft Guideline: Own Risk and Solvency Assessment (E-19) (December 2012)

Modified Material:

  • LFV-634-14: CIA Standards of Practice: Practice-Specific Standards for Insurers (Sections 2100, 2300, 2500)
    • Formerly LFV-634-13
  • Accounting for Reinsurance Contracts under International Financial Reporting Standards (exclude Appendix C and D)
    • Appendix A is no longer excluded
  • LFV-622-14: CIA Standards of Practice: Practice-Specific Standards for Insurers (Section 2400)
    • Formerly LFV-622-12
  • LFV-620-14: OSFI Guideline E15: Appointed Actuary – Legal Requirements, Qualifications and External Review
    • Formerly LFV-620-09
  • LFV-606-13: OSFI Guideline on MCCSR
    • Chapters 6 and 7 were dropped (other chapters still on syllabus)