PD Process

[endlessstudying]

Which one are you guys memorizing? ACE has one flashcard on PD development process (product strategy/idea generation/market research/preliminary pd/ final pd/ product implementation/ product mgmt). Is this good enough? Or are you guys memorizing the different lists from different sources? Same with product feasibility? (I have fitting companys goal/effect on current product/ regulatory constraits/ implementation constraits)

[rxmuerte]

They all blend together in my head. I'm sure on questions like this I'll spit out a mixture of lists.

"Idea Generation" is one of my favorite parts of product development. My boss said "are you crazy? you can't go straight from the product strategy phase to the market research phase, you skipped idea generation!"

[ACEManual]

In general, I'm a big advocate of combining similar texts/study notes. For DP, the repetition in the syllabus is pretty bad. I've taken this approach when creating the ACE cards -- think about how many cards there would be if I didn't combine!!!!

The product development process is referenced in many texts/study notes. In my opinion, it is not worth your time to memorize the subtle differences between each text. You need to have a general list memorized and write that down on exam day.

Let's say the SOA asks "Explain the product development process according to XXXXX text" -- if you write down the general list in the ACE cards you will get all/most of the point because it will hit all of the major topics.

One other note -- you can't just write down the card on exam day. You need to have sub bullets as well. If the questions asks you to explain the product development process, first you write down the card, then you need to explain how it applies the question.

Good luck over the next week!

Jacob

[LifeAct]

I had my own condensed list of the PD process, and I completely missed the entire LOMA PD process question from fall 2003. I guess that I need a new list.

on the bright side - I have memorized the Macro Pricing process.

[AG]

on the bright side - I have memorized the Macro Pricing process.

great. now they won't test it. thanks. :shake: so glad i memorized it.

[LifeAct]

great. now they won't test it. thanks. :shake: so glad i memorized it.



We are close enough that they can't adjust the exam questions based on what the AO members know.

[rekrap]

We are close enough that they can't adjust the exam questions based on what the AO members know.

But they still have time to adjust the solutions to their ambiguous questions! :dsmile:

[AG]

We are close enough that they can't adjust the exam questions based on what the AO members know.
i wouldn't put it past 'em...

[LifeAct]

But they still have time to adjust the solutions to their ambiguous questions! :dsmile:

I hope that they do adjust them. I always seem to answer the past exam problems with the wrong list. If they adjust the solution, it will play right into my hands.

[Inigo Montoya]

I had my own condensed list of the PD process, and I completely missed the entire LOMA PD process question from fall 2003. I guess that I need a new list.

on the bright side - I have memorized the Macro Pricing process.

The LOMA PD process is in Chapter 11, which is not part of the syllabus (except for the sales monitor and review step on pages 242-243). :crazy:

[LifeAct]

The LOMA PD process is in Chapter 11, which is not part of the syllabus (except for the sales monitor and review step on pages 242-243). :crazy:

Study Note 111 is chapter 1 and 2 from 'Product Design for Life Insurance and Annuities' which is a LOMA publication. It is very similar to chapter 11 of the LOMA textbook.

[Berners-Lee]

on the bright side - I have memorized the Macro Pricing process.

I did too. Not only the 14 steps but also the drawbacks of traditonal pricing and benefits of Marco pricing. Hope the short term memory can last till exam day.