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 2012 is 11th edition. This edition reflects the new MLC syllabus. Older editions omit a significant portion of the current syllabus. In some cases, notation in the new syllabus is different from the old syllabus. Therefore, older editions are not recommended.

• For 3L, current edition for Spring 2012 is 10th edition, 4th printing. Solutions to Fall 2011 CAS 3L have been added.

  The 9th edition includes a significant rewrite of most of the manual. There are more explanations, more shortcuts, and new summary tables after almost every lesson.

  The 3L syllabus was last changed for Spring 2008. The changes made in Spring 2008 were switching the text for Poisson processes from Ross to the Daniel study note, and separating Financial Economics into a separate exam jointly administered with the SOA. The Daniel study note's coverage of Poisson processes is slightly different from the previous coverage on the CAS syllabus, adding some material and removing some. The syllabus changed significantly in Spring 2007 when material was moved between exams 3 and 4. Therefore:

  • If you have the 6th-9th editions, or the 10th edition 1st-3rd printings, you may continue to use them.
  • If you have the 4th-5th editions, you should read the Daniel study note for Poisson processes, freely available from the SOA website. You should skip the Financial Economics material in them.
  • If you have an edition earlier than the 4th, you need a new manual.

• For MFE/3F, current edition for April 2012 is 9th edition, 2nd 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 printing, you may continue to use them. However, normal distribution calculations in these editions 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 February 2012 is 13th edition, 2nd printing. A small number of exercises were added to this printing.

  The C/4 syllabus changed for Fall 2009. These changes are discussed in this file. Before Fall 2009, the last change to the syllabus was in Spring 2007, when material was moved to this exam from Exam M/3. Therefore:

  • If you have the 9th-12th editions, or the 13th edition 1st printing, you may continue to use them.
  • If you have the 5th-8th editions, you may use the file linked in the previous paragraph for the updates to the syllabus.
  • If you have an edition earlier than the 5th, you need a new manual.