Following is a summary of recent course corrections required for Canadian CEBS courses.
Please make certain that you are using the correct edition of the study materials when preparing for a CEBS examination. If you have any questions regarding the status of your study materials, contact the CEBS Customer Service Department at (844) 809-2698.
Canada Course Updates
Readings Updates are issued each spring and fall. All current and previously issued Readings Updates are subject to inclusion on the national examination. More information about Readings Updates, to which courses they apply and obtaining a free copy can be found here.
Course revision notices are available in the current issue of Advantage.
Below are corrections to the designated Courses and updates referencing the section(s) of the courses most impacted by the changes.
Group Benefits Plan Management textbook (GBA 1 and GBA 2)
Page 13-20, the first sentence under Out-of-Province/Out-of-Country should be modified to read: "Out-of-province/out-of-country benefits are typically not mandatory; however, these benefits are generally covered by most employers."
GBA 1 Principles of Group Benefits
1. Module 8: Learning Guide, page 8.A13. Under Example 7: 50 x (0.95)55 should read 50 x (0.95)5
2. Module 8: Learning Guide, page 8.A18. There is a typo in the formula relating to ABC Insurance Company.
6.25 1/25 = 1 + r. 1/25 should be a superscript. Sequence should read 6.251/25 = 1 + r.
3. Module 8: Learning Guide, page 8.19. Question 26 (2) should read "Multiplying the answer by (1 + r), where r is the discount rate."
4. Module 9: Learning Guide, page 9.C3. The third sentence under "Example 2" should read " We can look up the value in column 5 (px), corresponding to age 91 at the beginning of the year."
5. Textbook: p. 7-17. Please note the following corrections to the far right column of Table 7.7: The text should indicate $10,000 pooling limit with 15% of premium; $25,000 pooling limit with 5% of premium and $50,000 pooling limit with 2.5% of premium. The pooling limits and premiums for the bottom three figures in the chart are correct.
GBA 2 Applications of Group Benefits
Module 7: Learning Guide, page 7.2. Under Required Readings, Reading A ends on page 6.B2, not 6.B3.
- Module 8: Learning Guide, page 8.21. Question 18 has been updated with corrected data. Please use the corrected version of question 18 when preparing for the national exam.
- Module 11, Exam Review Questions, Learning Guide page 11.11. Question 26, option A should read $9580. This also affects the explanation in the answer key on page 11.30.
GBA 3 Health Care Economics and Issues
1. Module 3, page 3.B7, question 6. The second-to-last equation should read: Ep = -1.7 (2,000/16,600)
2. Answer to Exam Review Question 6, page 13.31. The corrected formula for "expected income" is:
Expected income = (probability (well) x income (well) + probability (sick) x income (sick)) = ((75% x $40,000) + (25% x $10,000)) = $32, 500.
CMS 1 Compensation Concepts and Principles
Module 3 Optional Enrichment Readings
Guide to Collecting Job Information
Guidelines on Work Description Writing