CAS 5 Study Manual

[ACAS2011]

Which one will/do you use?

1. New England Actuarial Seminar
2. CSM (Actex)
3.. All 10
4. TIA

Any comment would be appreciate

[Bobby]

I don't believe NEAS has a study manual for this exam.

I read CSM/ACTEX isn't very good.

Consensus seems to be all10 or TIA. Reading some old exam threads, it seemed like people had good and bad things to say about both. There wasn't really a "this one sucks and the other is better" consensus.

I think I'm gonna go with both online TIA + all10. I like having two study manuals for exams in addition to the syllabus.

[Bobby]

By the way, the link from the main page seems to be leading to this sub-forum (old Part 5 forum) and therefore this thread probably needs to be moved. Also, the link on the main page needs to be fixed.

[ACAS2011]

Thanks Bobby.

I tried NEAS in my last sitting. It is not that bad, but Mr. Feldblum usually uses one whole page to explain the thing that could have been explained in one paragraph.

[oblivious]

TIA

[Romas]

I read CSM/ACTEX isn't very good.
Anyone used CSM/ACTEX manuals? I understand, as the Exam 5 is new, so is the ACTEX manual, so unless someone has just purchased one and already got an opinion, it's more about prior experience with other manuals by Dr. Murzda.

Thanks for your inputs.

I personally wasn't quite convinced with All10 when studying for the old Exam 5.

[Wolfy]

If you are only taking part 5b, I would say the only reason to get a study manual would be for original practice problems. TIA's notes in their study guide are almost an identical re-write of the Friedland text (although it is in outline form if that helps you). IMO go with whoever has the better set of practice problems and exams

So far TIA does not have many original practice problems. Hopefully Ken comes through with at least 2 full practice exams that include totally new problems. I think he will but it may not be until mid April

[FourKicks]

I think I'm gonna go with both online TIA + all10. I like having two study manuals for exams in addition to the syllabus.

wow, your company must be very generous.

[jimmywho]

I chose the Actex(CSM) manual over TIA or All10.

With Actex, you get outlines of the chapter/definitions/formulas, and then problems to do. You have to read the actual syllabus material, and then use the manual to supplement it.

With TIA and All10, it sounds like you don't really have to read the syllabus materail at all- they teach it to you (I know from experience about TIA, All10 I'm making assumptions). And they offer a more guided approach, giving you a recommended schedule.

I find both the Ratemaking and the Reserving texts to be pretty straight-forward reads-- almost like study manuals themselves, so I decided to read them and supplement with the Actex manual. Also, TIA and ALL10 make note cards for you, but I thought that actually making my own notecards would be a big help at memorizing the material, so that was another reason.

Also, I loved TIA for exam 4 becuase I could watch him do the problems and write the formulas over and over. Since this material has fewer straight formulas to know and more words and concepts, I thought that the videos might not be as helpful for me this time.


So comparing TIA, All10, and Actex, the amount of product you get seems to be pretty evenly matched to the price. You just have to think about how you want to study and which method will work for you.

[abwoc]

Also, I loved TIA for exam 4 becuase I could watch him do the problems and write the formulas over and over. Since this material has fewer straight formulas to know and more words and concepts, I thought that the videos might not be as helpful for me this time.

In my experience, TIA for CAS 4 >>> TIA for old CAS 5.

Dave is a true baller though, and he is teaching a highly computational course. So he's got those two things to his advantage.

[Romas]

I find both the Ratemaking and the Reserving texts to be pretty straight-forward reads--
You just have to think about how you want to study and which method will work for you.
Thanks for the comprehensive review.
That's my opinion, too - the core texts (Werner&Modlin and Friedland) are almost like study manuals themselves. So I'm mainly seeking practice problems, and the ACTEX manual claims to provide quite many of them. I guess I'll go for that one.

[Vorian Atreides]

Since this material has fewer straight formulas to know and more words and concepts, I thought that the videos might not be as helpful for me this time.

This must be your first upper level Exam.
Apparently you haven't looked at the syllabus/material if you think that this Exam won't entail a significant amount of computation.
I estimate that about 30% of the points are calculation-based question on ratemaking, 30% of the points are calculation-based questions on ratemaking, with the remaining points are questions on how well do you understand these calcuations.

And note that it's not enough to just calculate the "correct" answer, you have to show your work (unlike the prelims). More to the point, it's possible to pass this Exam w/o getting the "correct" answer on a single problem. It's also possible to fail this Exam while getting the "correct" answer on every single calculation problem.

Thought I'd just warn you.

[Bobby]

wow, your company must be very generous.

Nah, I pay for everything over $500 out of my own pocket. Still, I purchase as many study materials as I think is beneficial because:

a) My bonus will handily cover any study materials purchased on my own.
b) My raise for one year would also easily cover it
c) Even without bringing my raise/bonus into the equation... the non-monetary reward of getting one step closer to being done with exams and getting to spend more time with friends/family is priceless.

[abwoc]

Nah, I pay for everything over $500 out of my own pocket. Still, I purchase as many study materials as I think is beneficial because:

a) My bonus will handily cover any study materials purchased on my own.
b) My raise for one year would also easily cover it
c) Even without bringing my raise/bonus into the equation... the non-monetary reward of getting one step closer to being done with exams and getting to spend more time with friends/family is priceless.

:iatp:

True baller.

[TwoStep]

Nah, I pay for everything over $500 out of my own pocket. Still, I purchase as many study materials as I think is beneficial because:

a) My bonus will handily cover any study materials purchased on my own.
b) My raise for one year would also easily cover it
c) Even without bringing my raise/bonus into the equation... the non-monetary reward of getting one step closer to being done with exams and getting to spend more time with friends/family is priceless.

I'm taking it one step further and footing all the costs (including studying all on my own time) associated with exam because I work in health and my company wont support it.

I'm justifying it the same way you are, except I'll have to add:
d). I desire to work in a more discipline

[kyleucf]

I chose the Actex(CSM) manual over TIA or All10.

With Actex, you get outlines of the chapter/definitions/formulas, and then problems to do. You have to read the actual syllabus material, and then use the manual to supplement it.

With TIA and All10, it sounds like you don't really have to read the syllabus materail at all- they teach it to you (I know from experience about TIA, All10 I'm making assumptions). And they offer a more guided approach, giving you a recommended schedule.

I find both the Ratemaking and the Reserving texts to be pretty straight-forward reads-- almost like study manuals themselves, so I decided to read them and supplement with the Actex manual. Also, TIA and ALL10 make note cards for you, but I thought that actually making my own notecards would be a big help at memorizing the material, so that was another reason.

I was about to buy TIA, but you make a good point. The texts read real smooth and I just need some sample Qs to work after each chapter. Does the Actex have sample exams? I checked the TOC on the website and it didnt appear to have them...

[jimmywho]

Apparently you haven't looked at the syllabus/material if you think that this Exam won't entail a significant amount of computation.

I guess I wasn't as clear as I could have been. I know there is computation here, but what I was trying to say is that as a teaching method, I don't think the videos will help me as much with these kind of computations.

In exam 4 and the other prelims, there are lots of Calculus-y formulas ==> integrals and derivatives, exponents, etc. Stuff where the formula itself is pretty ugly, and watching the videos usually helped me remember them and learn some shortcuts.

With this material, my feeling is that instead of watching the videos to understand the concepts and learn shortcuts, I just have to buckle down and memorize all the the words and methods and formulas. I realize there is a ton of material here, both computational and not. But when I read it, I think it is easier to understand conceptually than all of the Calc formulas and stuff. (Retaining it is another story.)

[Aw Yeah]

I chose the Actex(CSM) manual over TIA or All10.

With Actex, you get outlines of the chapter/definitions/formulas, and then problems to do. You have to read the actual syllabus material, and then use the manual to supplement it.

With TIA and All10, it sounds like you don't really have to read the syllabus materail at all- they teach it to you (I know from experience about TIA, All10 I'm making assumptions). And they offer a more guided approach, giving you a recommended schedule.

I find both the Ratemaking and the Reserving texts to be pretty straight-forward reads-- almost like study manuals themselves, so I decided to read them and supplement with the Actex manual. Also, TIA and ALL10 make note cards for you, but I thought that actually making my own notecards would be a big help at memorizing the material, so that was another reason.

Also, I loved TIA for exam 4 becuase I could watch him do the problems and write the formulas over and over. Since this material has fewer straight formulas to know and more words and concepts, I thought that the videos might not be as helpful for me this time.


So comparing TIA, All10, and Actex, the amount of product you get seems to be pretty evenly matched to the price. You just have to think about how you want to study and which method will work for you.

Thanks this is exactly what I was hoping to find in here. Actex it is.

[Aw Yeah]

also, having already read about 90% of the material for the exam, I understand and agree with your statement about the computation on this exam.

Just sayin.

[Staky41]

I have the All10 manual - I like the manual, but so far it seems like I'm just re reading the original material again... I don't know that it is very beneficial over just reading the original material yet. (I'm only through reading the ratemaking and partially through this portion of all10)

I do like the questions at the end of each section - but there aren't a lot of questions for the first 6 chapters... like 3 or so from old exams that pertain to this years sitting.

I can't say anything about the other study guides... but all10 is good so far.

[Vorian Atreides]

Some of the material in the first several chapters of W&M are pretty new (to the extent that prior syllabus material implied this info more than presented it explicitly) . . . and some of it is necessary to understand the later material (that is, understanding the later material very well implies an understanding of this earlier material).