Syllabus of Basic Education
2013 Syllabus Updates
Updated: 16 April 2013
The "Syllabus Updates" section contains only changes or updates made to the 2013 Syllabus of Basic Education after it was posted online.
Joint Exams 1, 2, 3F, and 4
A separate list of updates is posted for exams jointly sponsored by the CAS, CIA, and SOA.
Online Course 1
The CAS Board granted a waiver for CAS Online Course 1, Risk Management and Insurance Operations, to those who passed Exam 3B in the pre-2000 education structure.
Exam 6-Canada
Correction: On Page 250 of Financial Reporting Through the Lens of a Property/Casualty Actuary Text (U.S. and Canada), the effective tax rate on dividend income for unaffiliated companies calculates to 14.175%, not 14.165% as previously shown.
The corrected line now reads as follows:
- Unaffiliated: (30% x 35%) + (70% x 15% x 35%) = 14.175%
A revised version of the CAS Online Publication "Financial Reporting Through the Lens of a Property/Casualty Actuary" was posted, including an Errata citing the revisions.
Exam 6-US
The Feldblum (Discounting Note) was inadvertently left off the reading list for Learning Objective C1, even though it was on the Complete Text References for Exam 6 US.
The link to ASOP 20 was incorrect, candidates need to go the Revised Edition of ASOP 20 Document No. 163.
Correction: On Page 250 of Financial Reporting Through the Lens of a Property/Casualty Actuary Text (U.S. and Canada), the effective tax rate on dividend income for unaffiliated companies calculates to 14.175%, not 14.165% as previously shown. The corrected line now reads as follows:
- Unaffiliated: (30% x 35%) + (70% x 15% x 35%) = 14.175%
A revised version of the CAS Online Publication "Financial Reporting Through the Lens of a Property/Casualty Actuary" was posted, including an Errata citing the revisions.
Exam 7
Sahasrabuddhe, R., "Claims Development by Layer: The Relationship between Claims Development Patterns, Trend and Claim Size Models" Casualty Actuarial Society E-Forum, Fall 2010, Volume 1: Please use the version that was revised January 2, 2013.
The CAS Syllabus Committee has revised the Exam 7 Syllabus to correct the cited page numbers of the Hurlimann paper. In addition, errata have been posted for Sahasrabuddhe and Shapland & Leong papers.
The Dependency Modeling Study Note was revised on March 25, 2013, to correct the Pearson correlation formula on page 5.
Exam 9
Contingent immunization and BKM: The Syllabus and Examination Committees are aware that, unlike the eighth edition, the ninth edition of Investments by Bodie, Kane, and Marcus does not cover contingent immunization. This concept will not be tested on the Spring 2013 exam.
