CSP Group Progress [Archive] - Actuarial Outpost

MarsLasar

03-08-2007, 01:11 AM

How is everyone doing so far? I am nearly through the readings and am beginning to go through the GRASP flashcards.

I've noticed that I've needed more coffee than usual to go through most of these readings. I can't believe how dry and extensive the readings go!

:joe:

So Tired

03-08-2007, 09:14 AM

I've read through all the material, the long syllabus and I've memorized 93 of the notecards.

Of course, I'm also waking up in the middle of the night and unable to get back to sleep until I can name the seven parts of LTC insurance that are usually regulated.

In other words, I'm on the verge of a breakdown.

Random Walk

03-08-2007, 09:55 AM

I've read all the material and am about 100 pages into reading the detailed outline.

I started about a month before the GRASP suggested study schedule began, and now I'm only about 10 days ahead.

ajstudies

03-08-2007, 10:05 AM

I've read most of the material. There were a couple notes I skipped, and I keep intending to go back to them. I'll try again with that this weekend, I think.

I'm up to about p. 128 in the outline. I've gone through all the notecards in Sections 1 & 2, but there are only a couple dozen that I could say I've truly memorized. I can usually recall some of the main points on the cards, but I don't have it all down yet.

I've also gone through and consolidated a few of the lists, etc., where I've felt there was redundancy. And I've <gasp> added a few that I thought were needed.

For Section 3, I've gone through some of the cards. There is a lot of redundancy on reserve methods, etc., so I've found a few that can be consolidated. I'm not to the point where I can say I've "studied" these cards yet.

I don't really feel "ahead" at all. I guess I'm about where I should be for 2 months out, but I still feel that I have a long way to go. As long as it took me to get through Sections 1 & 2 on the review, and those were the "easier" sections IMO, I am feeling daunted.

NerdyEve

03-08-2007, 10:34 AM

I'm studying with the MATE so my study process is different.
I've read everything and finished about a month ago, then I started with the first MATE volume, which I read through and copied (yes, hand written, that's the only way i actually pay attention to what I'm writing. It's also practicing my wrist to intense writing sessions ==the exam).
I received volume II last week and read it through and I'm now re-writing it. I've also started to look at a couple flash cards but no memorizing yet. I think I will start this weekend...

I can`t wait for May 12!

cincinnatikid

03-09-2007, 06:52 AM

:exams: I think I'm sunk...throught all the textbook readings, about half the online and study note readings, and half the outline.

It's going to be a long 9 weeks :exams:

Willie Mosconi

03-09-2007, 07:08 AM

Well guys, I decided last week to bail on this one after all. I really need to concentrate on getting my ASA, and the FAP Final Assessment is my final step towards that. Originally, I was going to wait until after CSP to take it, but I had only gotten through about 1/4 of the material (texts and GRASP manual) so far. I'll just hold out until next year. That will give me more time to spread out the material versus studying for only 4 months.

I wish you guys all the best on this exam. I look forward to the feedback after it's over.

James Madison

03-09-2007, 08:27 AM

I finished my read through of the syllabus on March 2, but I really don’t understand much of the material (one read through isn’t enough to get a decent grasp of the material). Now I’m reading the detailed outline from Grasp and plan to reread the syllabus material that I found the most difficult. I’m also reading through the Grasp Cards and trying to decide the best way to use them to study. As Farmer Mac stated in another post: “700 is far too many cards to memorize”.

For those who’ve taken 8G or 8M, do you feel this exam has more material to memorize? I failed 8G last sitting and based on that I feel that (a) there’s more material to memorize on CSP (perhaps much more) and (b) the lists on CSP are much more difficult (i.e. longer) than those on 8G. Any comments?

NerdyEve

03-09-2007, 09:54 AM

I passed 8G in 2005 and from what I remember, I feel that the lists made more sense. There was a lot about antiselection, and other concepts that just made sense hence were easier to memorize.

In CSP, I feel like a lot of the material, on reserves, reporting, etc. is very dry and is pure memorization, which makes it much harder

MarsLasar

03-09-2007, 01:27 PM

25 Grasp cards memorized. I am starting with the Financial Performance section since it looks like it is the biggest.

GAAP is not fun.

MarsLasar

03-14-2007, 04:19 PM

I thought about bagging this attempt over the weekend as I am not very motivated. But I have decided to give it a decent try.

Is anyone going to the seminar in St. Louis?

ajstudies

03-15-2007, 10:25 AM

Is anyone going to the seminar in St. Louis?

I know of no one. It's over Easter, for one thing. (The one weekend I personally scheduled off.)

I have too many hours into this thing already to bag it, although it's worrisome. All I can do at this point is put in my hours and hope for the best. :oops:

NerdyEve

03-15-2007, 11:21 AM

I know one person going to the seminar but I personnaly choose not to go because I've heard such bad stuff about it that I would rather be locked up in my apartment studying.

R2T

03-25-2007, 11:17 AM

I am only through a little over half of the material, but I have the first 3 sections of notecards memorized pretty well. The advertising stuff is still giving me problems but I'm good on everything else. I'm ahead of where I've been on any other essay exam I think, but there are so many more notecards this time.

BuckyBadger

03-26-2007, 01:27 AM

I have made progress on the first half of the MATE notecards (about 130). My somewhat ambitious goal is to have at least the main bullet points on all of these memorized by the end of this week... I probably have about 40 or so as of now (depending on how awake I am when I go through them).

The second half will probably be tougher as this contains the GAAP cards, and my personal least favorite, the Yamamoto cards

ajstudies

03-26-2007, 09:37 AM

I am very bogged down right now. The good news is that in going through the outlines, most of the readings that didn't make sense before are starting to come together.

I feel totally behind on the memorizing. I am using GRASP. I have gone over all of the cards for Sections 1 & 2 and feel pretty good about most of these. I have gone over MOST of the notecards for Section 3, but skipped a note that was mostly Life & P&C--I'll go back to them if I have time. I have memorized about 1/3 to 1/2 of these. Then I skipped ahead to Section 9, and I have gone over about 100 cards there. Not memorized, just read and wrote them. I think I am just about finished with this section, except for that "Pricing in the ROE Environment" article, which I am still struggling with. I went back to the GAAP readings as well, and may have a couple questions there. Now I am reading the outline for Section 10. The ERM stuff went quickly, but a few of the study notes are more difficult.

My plan is to skip ahead to Section 12 after this, and then go back to Section 4 and tackle the rest in order. I think the other sections are much smaller, and will go somewhat more quickly (I hope).

MarsLasar

03-27-2007, 03:17 PM

Advertising restrictions...:swear:

Can't...take....much....more....

R2T

03-28-2007, 11:18 AM

Advertising restrictions...:swear:

Can't...take....much....more....

I know, but it spans like 15-20 notecards. I think a question on this is likely. This section took a long time to memorize. All of the diffferent regulations (State general, Federal, HMO, PPA, Managed Care..) took a while too. The CIA practice note sucks as well.

Black Mage

03-28-2007, 01:33 PM

I got my Insurance selling license in FL, which was like 50% of the material on advertising restricitions and I STILL have a problem trying to cram all that crap into my head.

MarsLasar

03-28-2007, 01:45 PM

44 days to go.

600 flashcards left to memorize. :-o

R2T

04-22-2007, 11:43 AM

ajstudies

04-23-2007, 10:25 AM

OK, I've got sections 1-11 "done". Just Retiree stuff to go. Out of the 600 or so I have "done" I bet there are 75 that I have forgotten since memorizing it the first time. It should be a lot easier the second time around though. Now I need to start working calculation problems. Haven't done any yet.

I am really amazed that you have been able to memorize all that. I have gone through the outlines and the notecards but couldn't say I have memorized them, and those I worked hard at memorizing early on, I could not recite them today. This is the biggest hurdle for me, and if I fail this exam, I will be starting in August with the memorization next time around. At least I have an understanding of the material now, so I don't feel I have wasted the time I have put into this sitting.

R2T

04-23-2007, 11:16 AM

I memorize first and try to understand later. That's my method and it's worked for 5, 6, and 8. Unfortunately, the exam is about writing what you know really fast without necessarily being able to explain it all. At least that's how 8 was. I've done nothing but memorize for the past 7 - 8 weeks. Now I'll try to piece it all together and doing calculation questions.

ajstudies

04-23-2007, 12:05 PM

I memorize first and try to understand later. That's my method and it's worked for 5, 6, and 8.

I'm glad that method works for you. I, OTOH, have a hard time memorizing something I don't understand. I need to build relationships between the items on the lists in order to memorize them. I tried using other people's mneumonics in the past (eg, Carmody for Course 6) but that never got me higher than a 5, unfortunately.

Your comments are helpful though--it sounds like you are memorizing key points only and no explanatory comments? That may help me condense my condensed condensed outline.

MarsLasar

04-23-2007, 03:15 PM

cincinnatikid

04-23-2007, 03:44 PM

Been through the MATE cards a couple of times...probably ~60-70% memorized.

Taking the understand then memorize approach...I find it much easier to rattle off a list if I can understand enough to get the list started.

Working some problems here and there to test recall and get some numerical stuff in.

It's going to be a long long long 2.5 weeks.

BuckyBadger

04-23-2007, 04:51 PM

My approach is more like R2T... The first time through, most of the texts were so dry I couldn't understand them if I tried.... it all looks Greek. I just gave up and went to the outlines/flashcards. I could understand the lists, so once I committed them (or at least parts of them) to memory, now when I go back through the outline I actually have something of a framework as there is something I know, so it is easier to make connections and at least partially understand things now than it was before.

I'm also using MATE... about 1/2 the cards I have memorized and the other half I can get most of the points but not all of them. I have the GRASP cards as well and picked out about 70 of those that look testable that either weren't covered in the MATE stuff or weren't covered in much as detail, so my last few weeks will be solidifying MATE, learning these GRASP cards, reading through the outline, and working old exam problems. Hopefully that will give me some idea where to start for all the questions on the exam... that is really all I am hoping for.

R2T

04-24-2007, 07:49 AM

Yeah, for me I have to be able to associate at least one item with the list and then I can usually recall the other items in the list if I get the first one. If it's something I totally don't get or the association doesn't make sense, I refer to the detailed outline.

A lot of the retiree stuff was on 8G so I think I've seen a lot of these cards before. In fact, for some reason, I still have the 14 point disclosure list in my head: APBO, FVA, FS -> Fin, NP PR BC, Wtd Avg DR SI EROA, HC trend, 1%impact in trend, securities amt type, desc insurnce, sig trans, alt amort, sub comm, con/special term, and other sig ben obl chgs

I can't wait till I'm done with these exams. Having all this ridiculous crap in my head gives me nightmares at night.