For those of you who took the 2008 DP exam and are now studying for the 2009 version, here are the differences between the 2 syllabi:
Dropped material: SN100, SN108, SN109, Macro Pricing, and A&D, Ch 8
New Study Notes: SN113, SN114, and SN115. SN804 has been added, but it is the same as the Appendix to LIMRA, Ch. 7 (which was already on the syllabus)
New Readings: Stochastic Pricing of Embedded Options, ASOP 41
Updated SN/Readings: 2008 Supplement to DeRochers book, update to SN109 (Moodly’s Investors Service Corporate Default and Recovery Rates)
We have posted some recent corrections/updates:
Drill Problems Section A: solution to #1. All values are correct. I left out the denominator (1 – .08) when dealing with the partial withdrawal
Section C.1.4: Taxes. In the equation for DAC tax, the last multiple should be 5% (correct in chart, was incorrect in the equation)
Case Study: we have posted a summary of the case study. I recommend highly that you read the full case study and get familiar with it before the exam. You will be given a copy of the case study as part of the examination booklet when you take the exam.
Drill problems, section B: I added 3 drill problems dealing with 2 of the new study notes.
Hope your studying is going well.
Here is a suggested study schedule. It is 13 weeks long, so if you started July 1, you would be through the schedule by the time of the live seminar. There is flexibility in DP on the order that you study the topics. But the schedule should help in terms of pacing, even if you don’t follow the order exactly.
Study Schedule 2009–Excel 2003 format
Study Schedule 2009
We are in the process of reorganizing section B on the Canadian seminar. Changes should be complete soon. Thanks.