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Information for Owners of Previous Editions

Every new edition of the manual has the following changes from older editions:

  1. All errata as of the day of its release are incorporated.
  2. Coverage of topics may be expanded based on student reports from exams.
  3. Changes are continually made in response to student questions. When a student indicates that they didn't understand a solution to an exercise, I often expand that solution.
These types of changes are not available in supplements. Thus if you do not own an old edition of a manual, you may want to consider buying a new edition rather than a used one.

However, to the extent a syllabus has not changed, old editions should be adequate. Here is guidance to owners of old editions as to whether they need a supplement or a new manual:

  • For MLC, current edition for Spring 2015 is 14th edition 2nd printing. Errata were incorporated, solutions to the Fall 2014 MLC and LC exams were added, and slight improvements were made. However, you may still use the 14th edition 1st printing or the 13th edition 2nd printing. The 11th edition, 12th edition, and 13th edition 1st printing do not have material added to the syllabus in Spring 2014 nor do they have written answer practice exam questions. Editions before the 11th are based on an older syllabus and are not recommended.

  • For LC, current edition for Fall 2014 is 1st edition 3rd printing. It incorporates errata and solutions to the released Fall 2014 exam. The 1st edition 1st or 2nd printing may still be used. Those using an old 3L manual should study life contingencies and Markov chains only, skipping statistics and Poisson processes. In life contingencies, skip material on reserves and on insurances and annuities with varying benefits, since those topics were dropped from the syllabus.

  • For ST, current edition for Fall 2014 is 2nd edition 2nd printing. It incorporates errata and solutions to the released Fall 2014 exam. You may still use the 2nd edition 1st printing. If you use the 1st edition, make sure to get the supplementary runs test lesson, which was provided to purchasers of the 1st edition. Using a pre-2014 3L manual to study statistics is not recommended because the statistics syllabus was expanded.

  • For MFE/3F, current edition for Fall 2014 is 9th edition, 8th printing. The MFE/3F syllabus was expanded for Fall 2009. The syllabus was also expanded in Spring 2009. Therefore:

    • If you have the 6th-8th editions, or the 9th edition 1st-7th printings, you may continue to use them. However, normal distribution calculations in the 8th edition and prior are done consistent with the prior rules, which means rounding arguments for the normal distribution function to 2 decimal places. You may download the solutions to the SOA sample questions and the Spring 2009 exam here.
    • If you have the 4th-5th editions, you need to have their supplements as well. The supplements are no longer available for sale at the distributors.
    • If you have an edition earlier than the 4th, you need a new manual.
  • For C/4, current edition for Fall 2014 is 17th edition. This edition has one new practice exam, as well as incorporating errata. You may still use the 15th and 16th editions, which both incorporate changes made to the syllabus for the October 2013 exam. If you have an earlier edition, you should consider buying a new edition, but you may download a supplement containing the change to the syllabus made for the October 2013 exam.