Course 3 manual survey

[Anonymous]

Alright, enough small talk -- I need to get down to business. I've done the research, so let's get the discussion going. I went to all the links here at the Rebel outpost to find the best manual. In aphabetical order:

http://www.all10.com -- a casualty company. sample of manual provided at website

http://www.archactuarial.com -- a new manual. sample chapter at website (IE users must download to view)

ASM -- http://www.studymanuals.com -- discussed often on rebel forum, but I didn't see a sample to download

CSM -- http://www.csmanuals.com -- I couldn't get to this site, so I'm not sure if there's a sample or not.

http://www.how-to-pass.com -- discussed often, sample sections available at website.

What do you guys think? Thanks in advance!!

[Anonymous]

You forgot about ACTEX (though they're not linked on the rebel site)!

[Macroman]

This is rediculous...Who on earth has studied from more than 3 of the above? How can anyone be expected to rank them all?

Of the list I have used only How to Pass- which is very good but does not include solutions to the exercises (a major obstacle especially if the problem contains an error).

Also there is a solutions manual available for the Actuarial Math book which I have found very helpful...Forgot the primary author's name, but it is coauthored by Dale Hall (who might even be lurking here).

If we could get say 100 C#3 takers to grade study manuals on a 1-10 basis then we could average the results and try to rank the manuals...still not terribly accurate but something anyway...

[Bullseye]

Did you forget Mahler's notes ? They are very very good.

[Anonymous]

Free study materials? Are you kidding me? Back in my day, you were lucky if the SoA gave out free exam problems three years later!! And nobody had ever heard of a review manual!! You guys have it easy -- be smart, boys and girls, use this free stuff and defeat the exams!!

[Anonymous]

All right folks -- let's hear the opinions! Who liked their manual? Who didn't?

[rabbit]

If anyone has questions about the new ARCH manual, I will be happy to answer them.

(My opinions may be biased since I am one of the authors ....)

[Mardi]

OG, that's only free *samples*... to get you to buy their stuff later.

Oh, and I heard of a new one at http://www.bpptraining.com -- they claim that if you get their manual you don't need to buy any texts. And there's a deal for the first so many to get 50 bucks off the price.

I don't know if I want to take a chance on a new product. Anyone with thoughts on the established ones? Will they know more of the 'tricks'?

[Macroman]

Rabbit:

Why don't you send me a brief synopsis?

I'm at mamenzie@hotmail.com and interested in courses 3 & 4.

I was told by one of our qualified actuaries that there was a company at the SOA meetings touting a total textbook replacement. If you got this manual for about $400 you would not need anything else. They were sellling it as a money saver, since typical text and study manual expenses run about $700 per exam (pretty accurate once you get past course 2). Even course #2 is about $500 now. Of course that probably does not take into account the repeated use of texts between #3 & #4...

[Mardi]

macroman, the 'replacement' one is the bpp I mentioned above. I already have most of my texts, so not a money-saver for me, but I do like the thought of on-call tutors just for the price of a manual....

[rabbit]

I'll send one ....

[Anonymous]

The BPP stuff is being run by the past president of Actex, who has already been publishing SG's for years. I'd say it's a ton of marketing hype over a new study guide, but hey - you know where I'm coming from.

A bit of debunking:
Savings:
BPP 3: $400
Prelim pricing on C3 texts: $336
Add rabbit's new Arch 3 or HTP- you choose: Total: $459
Less $93 for the ActMath you already own from college: $366.
Total BPP cost savings: negative $34, and you don't own 3 of the texts. Or you've saved $59, don't have any texts, and no choice of study guide.

Seminars: $895 or so for 5 days. ARCH has a 6 day seminar for $800. Cost savings: Negative $95, and one day less.

The online tutoring - for me as a student this would be minimal advantage. Most of the SG authors already have a good reputation for answering questions so this wouldn't appear to be anything new. And it's not something I'd be likely to use anyway - it's not how I study.

So, don't get flustered by the hype. We've got a new $400 study guide. Mahler can get away with this kind of pricing because his material is proven. Whether or not BPP can remains to be seen.

Canada's LARGEST distributor of actuarial textbooks (example of my marketing hype :smile:)

[Anonymous]

Mardi,

I've got no problem with people giving away free samples! Let the buyer see your product and make an informed decision.

Rabbit, on behalf of all students, I thank you and the other manual providers for posting free samples!

[rabbit]

Thanks TRex2 -- Mardi is right that the sample is there to encourage people to consider buying the book. And to help get past legitimate worries people might have about trying a new manual. It's too bad there is not some location we can all send the first chapter for comparison!

[J-Man]

Actex Course 3 Manual, at least life contingencies part, was where I started and was good.

Batten's Life Contingencies manual was also good and helped solidify things on this subject.

I had Mahler's notes, but didn't get a chance to look at them. They seem to be very good.

How To Pass didn't do it for me, but others swear by it.

[DJC]

Here are some facts (not hype) about the Course 3 study manual from BPP - I'm David Carr and I'm the CEO.

Our no-textbook approach was launched in the UK in 1988. At that time, students had to study from several sources of varying quality (sound familiar?). Our approach was so successful that in 1995 the UK actuarial profession contracted us to provide all educational support to its students. All UK students now use our comprehensive notes and no-one uses textbooks.

We now provide distance learning to 4,000 students worldwide and teach 900 days in the classroom every year. We have a team of 19 actuarial tutors who work exclusively for BPP. We are an established company with excellent reviews from students and employers.

We are not marketing our comprehensive study program as a money-saver. It is not the cheapest option at $400 but we believe it is the best. Students will be able to work far more efficiently from a single, structured source. And it includes 450 new exam-style questions to practice (in addition to the past exam papers available from the profession).

If you want to see a sample of our study material, we'll be happy to send out an Employer Review Edition to your company. Anyone in the company can review this to see how we structure and present out courses. Simply send an email to info@bpptraining.com and we'll get this in the mail straight away.

Check out our website for more information on seminars dates, company info etc.

[Anonymous]

Thanks for straightening us out on the price issue without resorting to any marketing hype.

I thought your N.A. director had told me that they would be marketing this to companies as a cost savings measure, perhaps I was mistaken (though it appears a few other folks received this mistaken impression as well).

I, OTOH, do fully intend to compete based upon price :smile:.

[toomuchtime]

The Actex manuals for Courses 1-4 are all very excellent. I haven't scored below a nine on any of the first four exams, studying only from the Actex manuals - no seminars. Maybe I study too much, but clearly, Actex covers the material very well. I would not spend money on any other manual, especially if it costs more. However, I hear for Courses 5-8, Actex is not very good.

[burton leon reynolds]

On 2001-11-27 13:32, toomuchtime wrote:
The Actex manuals for Courses 1-4 are all very excellent. I haven't scored below a nine on any of the first four exams, studying only from the Actex manuals - no seminars.


Did you take course two after the conversion?
Because if you did, and only studied from the actex, I am very impressed. In my opinion the actex for course two is poorly written. Especially the economics section. In fact the author of that section gives a seminar that resembles his writing ... not worth the money.

[DJC]

Rapidact: We're happy to point out that our study program costs less than a full set of textbooks plus a competitors' study manual, but it is quality and innovation that make our product special. 4,000 students and the UK profession can't be wrong!

[toomuchtime]

On 2001-11-27 15:34, fitnadoodis wrote:

On 2001-11-27 13:32, toomuchtime wrote:
The Actex manuals for Courses 1-4 are all very excellent. I haven't scored below a nine on any of the first four exams, studying only from the Actex manuals - no seminars.


Did you take course two after the conversion?
Because if you did, and only studied from the actex, I am very impressed. In my opinion the actex for course two is poorly written. Especially the economics section. In fact the author of that section gives a seminar that resembles his writing ... not worth the money.


I did, but I was also an econ major, I can say that for interest theory and finance, it did suffice.

[anon789]

On 2001-11-27 15:38, DJC wrote:
We're happy to point out that our study program costs less than a full set of textbooks plus a competitors' study manual,
Sheesh, I would sure hope so. Though at $400 you're not exactly giving the stuff away, :roll:.

[DJC]

There's a difference between "good value" and "cheap".

To make an informed choice,request a Employer Review Edition of our material.

http://www.bpptraining.com

[Macroman]

We are putting a lot of faith in a study manual if we expect it to replace all the other reading materials on the syllabus.

Here is what the SOA has to say on page 22 of the catolog:
Study manuals for examinations administered by the SOA are available from various sources not
associated with the SOA. These contain material such as summary outlines of Course of Reading
material, various types of practice problems, and, in some cases, solutions to recent sample
examination problems.
These study materials are neither a part of the Course of Reading nor a substitute for the SOA SNs;
nor do they reflect any official interpretation, opinion or endorsement of the SOA or its E&E Committee.

Now most of us rely heavily on study manuals and/or seminars to learn the examination material. I mean curling up with Bowers as we go to bed at night just is not most people's idea of fun. The bottom line, however, is that if you have the textbooks you can read them and see what they have to say if the study manual is not clear or does not cover something. If you don't get the textbooks then you just don't have that option.

[Mopus]

DJC :

Just a couple of questions.

1) Would you extend the Employer Review Edition offer to academic institutions?

2) Given the high cost of the program, would you consider offering tiered tuition on this side of the pond, as you do in the UK?

[DJC]

On 2001-11-28 14:13, samiam wrote:
DJC :

Just a couple of questions.

1) Would you extend the Employer Review Edition offer to academic institutions?

2) Given the high cost of the program, would you consider offering tiered tuition on this side of the pond, as you do in the UK?




1. Yes
2. Yes
Email me at david.carr@bpptraining.com so we can discuss what you need.

[DJC]

Macroman:

I realise that what BPP is doing is innovative and that many students will be cautious – after all, studying is a huge part of your life and it’s often easier to stick with what you know when it comes to something so important.

So, can you trust the BPP study program to be complete? Yes. The Syllabus states the learning objectives clearly and our course covers all of them in detail. Our team of full-time tutors (who have been teaching these topics for years) have also worked very hard on the content and structure of the course, following extensive reviews of the textbooks and past exam papers. And they’ve made sure that all notation is consistent with that used in the textbooks. In short, they’ve done a very thorough job over the last year.

Can you live without textbooks? Yes – if the study program is complete and clear, and if you have access to help if you should ever get stuck. That’s why we offer tutor support by email. Our approach might seem different but in the UK in the early 1990s students turned away from textbooks and chose our comprehensive courses instead. There was a gradual transition until the UK profession signed a contract with us in 1995 to provide tuition to all of its students. We’ve been doing that ever since, with regular quality monitoring by the profession. I’ve been in charge of the UK company since 1999 and have enjoyed being able to make students’ lives a little bit easier.

The profession (particularly the CAS – see the Dec 2000 Task Force Report on the CAS website) acknowledges that there is significant room for improvement with many of the current textbooks. Even the best books aren’t really tailored to the specifics of the exam. The profession is also keen for students to have the very best study support available because it will help to attract good candidates to train to be actuaries in the first place. But the SOA cannot endorse any products or providers (old or new) because it could lose its non-profit status if it did so.

The BPP study program does not offer a magic solution – there’s no guaranteed pass with 50 hours of study – but it does offer a new way of studying. And I'll be happy to send out samples of our study program or meet with groups of students and employers if you'd find this helpful.

[Anonymous]

anyone used Batten manual for life cons and ruin theory?

[J-Man]

Yes!! His problems are good. His seminars are even better. At the seminar he gives many old multiple choice questions for both Course 3 and Course 150.

[Anonymous]

thanks - I am actually trying this exam again and am thinking of ordering new material since obviously the stuff I have isn't working for me.

Doesnt that manual follow with the text? Are the problems different from the text?

[Anonymous]

DJC

I for one hope that your study guides do what you suggest. I just took exam 1 this past sitting and will be very interested in the reviews that your study guide gets for the next sitting.

[J-Man]

The Batten/London manual can be ordered from Actex. His part of the manual covers the Life Contingencies material, basically Chapters 3-11. He assumes you've read and digested Bowers. It goes along with Bowers, chapter by chapter.

I used this with the Actex manual for Course 3 to study.