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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 2014 is 13th edition. This edition incorporates the new practice exam format, with written answer sections. It also includes updated terminology and new lessons on the added material to the syllabus: valuation of defined benefit pension plans and participating policies. And it includes solutions to the released Fall 2013 MLC and 3L exams and to the new sample questions.

  • For LC, current edition for Spring 2014 is 1st edition. 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 Spring 2014 is 1st edition. The statistics syllabus has been expanded, so using an old 3L manual to study statistics is not recommended.

  • For MFE/3F, current edition for Spring 2014 is 9th edition, 6th 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-5th 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 Spring 2014 is 16th edition 2nd printing. This edition incorporates changes made to the syllabus for the October 2013 syllabus. This is the first change made since 2009. You may still use 16th edition 1st printing. If you have an earlier edition, you may download a supplement .