Fall ERM/CFE/SDM Syllabuses (New)

[PAK]

The new ERM/CFE/SDM syllabuses are posted on the SOA website. There is no change in the SDM syllabus. There are some changes in the ERM/CFE syllabuses. Here are the highlights:

 

ERM Newly-Added Readings
ERM-152-23 Managing Environmental, Social and Governance Risks in Life & Health Insurance Business
ERM-153-23 Regulatory Capital Adequacy for Life Insurance Companies: A Comparison of Four Jurisdictions (excluding Appendices)
ERM-153-23 Excel Model – Regulatory Capital Adequacy for Life Insurance Companies Example (spreadsheet background only)
Financial Enterprise Risk Management Ch.1 Ch. 1: An Introduction to Enterprise Risk Management (section 1.1 only)
Quantitative Enterprise Risk Management Ch. 2 Risk Taxonomy
Quantitative Enterprise Risk Management Ch. 5: Extreme Value Theory
Quantitative Enterprise Risk Management Ch. 6: Copulas
Online Reading Model Risk Management Practice Note

 

ERM Removed Readings
ERM-110-12 Derivatives: Practice and Principles, Recommendations 9-24 and Section III
ERM-130-18 AAA Model Governance Practice Note
ERM-134-21 Group Insurance, Ch. 41: Risk Based Capital Formulas
ERM-138-21 Quantitative Enterprise Risk Management, Hardy, Ch. 6: Extreme Value Theories
ERM-139-21 Quantitative Enterprise Risk Management, Hardy, Ch. 7: Copulas
ERM-141-20 Ch. 9: Risk Management, section 5 of Managing Investment Portfolios, Maginn and Tuttle, 3rd Edition, 2007
Online Reading National Risk Management A Practical ERM Approach for Federal Governments, CAS, CIA and SOA, Mar 2018, pp. 11-22

FYI, QERM Ch.5 is the new version of ERM-138-21 and QERM Ch.6 is the new version of ERM-139-21. You can find more details about the changes in syllabus over the past few exam sittings in our PAK ERM Suggested Study Schedule.

 

CFE Newly-Added Readings
F-158-F23 Hurdle Rate Definition
F-159-F23 A Brief Primer on Financial Reinsurance
F-160-F23 Why Private Equity Sees Life and Annuities as an Enticing Form of Permanent Capital
F-161-F23 Bank Profitability
F-162-F23 Procurement, Early Warning Systems, and the Next Disruption
F-163-F23 Financial Institutions and Nonfinancial Risk: How Corporates Build Resilience
F-164-F23 Ch 18 Case Studies from Operational Risk Management: A Complete Guide to a Successful Operational Risk Framework
F-165-F23 Decentralized Finance: On Blockchain- and Smart Contract-Based Financial Markets
F-166-F23 Ch. 8 DeFi Insurance from Decentralized Insurance, Feng, Runhuan., 2022
Online Reading Nested Stochastic Modeling for Insurance Companies (excluding Appendices)
Online Reading Return on Capital Enhancement Opportunities for the Life Insurance Industry

 

CFE Removed Readings
Corporate Finance Ch.25 Leasing
F-135-19 Why are the Parts Worth More than the Sum; “Chop Shop,” A Corporate Valuation Model
F-136-19 Corporate Value Creation, Governance and Privatisation, Ch. 4
F-147-20 Chapter 11 of Modelling in Life Insurance a Management Perspective
F-148-20 A Guide to Risk Measures, Capitol Allocation & Related Decision Support Issues
Implementing ERM from Methods to Applications Ch.9 Ch. 9: Role of the Board

You can find more details about the changes in syllabus over the past few exam sittings in our PAK CFE Suggested Study Schedule.

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