DP Syllabus Differences from 2008

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)

Recent updates/corrections

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.