Fall 2023 ERM Syllabus (New)

The new ERM syllabus is posted on the SOA website. Here is the link: https://www.soa.org/499caf/globalassets/assets/files/edu/2023/fall/syllabi/erm.pdf

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

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.