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  #1  
Old 11-01-2019, 08:57 PM
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Eddie Smith
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Default New 2020 LFM syllabus is here!

The new US and Canadian LFM syllabi have been posted on the SOA's new LFM page.

As with LPM and LAM, we're looking at pretty big changes, but based on my assessment so far, the changes are actually less drastic than either of those. But still, big changes.

I've detailed the changes to LFMU in a blog post if you want to check it out. We'll make a similar post for LFMC soon.

Overall, I think the changes are positive. For one, there is much more tangible material related to the VM and Targeted Improvements. Whereas in the past, these concepts were described mostly verbally by syllabus readings, there are now much more quantitative resources on the syllabus -- even a couple of nice spreadsheet models developed by the exam committee. We have already developed some really nice new VM material and examples that will be rolling out soon.

Another bit of good news is that virtually all of the pre-existing SVILAC chapters were retained. This forms the core of Section A, the first section in our online course. We are in the process of adding some of the new SVILAC volume 2 chapters, but I expect Section A to be ready very quickly this month, and that's going to give you plenty to work with as we fill in the new readings ahead of you.

For those of you that used our LPM course last sitting, you can expect a similar approach as we rebuild our LFMU/LFMC courses -- although I think it will be even more straightforward since you'll be able to start in Section A pretty quickly.

I will be posting regular updates on our blog, and we will be transitioning our LFV pages to LFM in the coming days. So stay tuned for more, and let me know if you have any questions!
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  #2  
Old 11-02-2019, 08:10 AM
Doggus Doggus is offline
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Hi Eddie,

If im starting Section A now (which is yet to be updated), will there be any summary of changes on the manual provided by TIA for easy reference?

And is there any expected timeline for the release of manual updates?
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  #3  
Old 11-02-2019, 09:35 AM
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Eddie Smith
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Quote:
Originally Posted by Doggus View Post
Hi Eddie,

If im starting Section A now (which is yet to be updated), will there be any summary of changes on the manual provided by TIA for easy reference?

And is there any expected timeline for the release of manual updates?
One of our first priorities is posting a new LFM version of the Section A detailed study manual and video lessons next week. Please understand that it's been barely 24 hours since the LFV exam was administered, and we are working as quickly as possible. If you are studying over the weekend, I recommend focusing only on the SVILAC book material in Section A since most of this is unchanged.

We will also be posting a preliminary study schedule next week and will provide clear details on a lesson by lesson basis about what is available now and some rough ETAs for future updates next week.

Thank you for choosing TIA, and good luck on LFM!
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  #4  
Old 11-04-2019, 07:18 PM
Fizz Fizz is offline
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Hi Eddie,

I currently have access to the TIA for fall 2019 LFV-Canada. Could you please let me know which sections listed below will likely remain the same, and which would go through a complete overhaul? I know I failed the recent sitting and want to begin studying again. Please and thank you very much.

A. Valuation and Financial Reporting
B. Reinsurance
C. Capital
D. Financial Management and Value Creation
E. Emerging Standards
F. Professional Standards
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  #5  
Old 11-04-2019, 08:23 PM
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Eddie Smith
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Quote:
Originally Posted by Fizz View Post
Hi Eddie,

I currently have access to the TIA for fall 2019 LFV-Canada. Could you please let me know which sections listed below will likely remain the same, and which would go through a complete overhaul? I know I failed the recent sitting and want to begin studying again. Please and thank you very much.

A. Valuation and Financial Reporting
B. Reinsurance
C. Capital
D. Financial Management and Value Creation
E. Emerging Standards
F. Professional Standards
Please email Peter Chong, who can give you some guidance on that for LFMC. Peter co-instructs LFMC with me, and he's working on the 2020 LFMC layout right now.

This particular syllabus update involves many intricate page range details on a reading by reading basis, and we are only just now learning about some of the details, so it's been a full time job the last few days just finalizing our road map, but things will begin falling into place shortly.
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  #6  
Old 11-05-2019, 03:55 PM
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Eddie Smith
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Good news! Section A.1, which contains all of the very foundational formula-based US stat material is available now in the LFMU course (detailed study manual and over 13 hours of video lessons). Our plan is to release the material in the order we think is most intuitive to study (i.e. we will release the course from Section A down).

You can also download a free study schedule on our LFMU lessons page. This spreadsheet shows how the complete course layout will look like by lesson and syllabus source. It also contains reading-specific notes on how each item relates to the previous LFV syllabus (if at all). We've also included some expected release dates for future sections. We've tried to be a bit conservative with these, and I think there's a good chance we can beat these dates. However, our priority is always to maintain the high standard of quality you expect in our product.

At any rate, there will be ample material for anyone starting in November or December to work with, and there will be ample time to cover the whole syllabus well before the spring exam date. I expect the final updates to fall into place even sooner than what we experienced for LPM and LAM in 2019, which involved more significant changes.

We will be releasing similar updates for LFMC soon.
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Last edited by E; 11-06-2019 at 09:12 AM..
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  #7  
Old 11-06-2019, 11:51 AM
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Eddie Smith
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You can read about more details and insight into the syllabus changes in our latest FSA newsletter.

Be sure to subscribe to our FSA newsletter for future updates if you aren't already.
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  #8  
Old 11-06-2019, 12:21 PM
jts75 jts75 is offline
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Just purchased. Looking forward to getting started. Thank you!
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  #9  
Old 11-06-2019, 12:49 PM
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Eddie Smith
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Just purchased. Looking forward to getting started. Thank you!
Thank you and good luck!
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  #10  
Old 11-22-2019, 02:47 PM
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Eddie Smith
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Right on schedule, we released another big update today: Section A.2 covers the principles-based reserve readings on the syllabus. The 2020 version of the LFMU syllabus contains significantly more detail on PBR than any previous syllabus, and we have taken a lot of time in preparing these lessons, which feature a number of examples, visuals, and additional commentary to help you make sense of these complex new standards. Some of the readings also have a high degree of overlap, and by developing these lessons jointly, we have eliminated a lot of redundancy for you to make your life a bit easier while studying.
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