CAS exam 7 -- What did everyone think?

[MNBridge]

I believe it should be OK to discuss the exam now but until someone else verifys this I won't post anything that may not be appropriate.

As for the final ? I'm sure I got 0 and still would have with more studying.

[Redhead]

I thought it was very hard, but mostly fair (although who knew Robertson-Patman?!, should've expected that sort of thing). I did feel like I did the worst on the last 5 questions. I'm glad that high point question at the end was not a calculation, but it still took some time. I'm just happy I felt better about it than I expected to. I went in thinking I'm totally going to fail, but came out pleased with how much I actually knew. Doesn't mean I'll pass though.... :roll:

[SMOKIN' ACTUARY]

I think I did well. Overall the exam was fair IMO.

[Mick Fan]

I thought it was okay. I was a little taken aback by the final question and I think I screwed it all up. The Notes was one of my weakest readings, so I wasn't thrilled to see a five-pointer about it!

I thought, overall, it was a very fair exam and very completable. I think I did okay on the T/F and pretty well on a lot of the other calculation problems (save the final one). I guess we'll find out soon enough. I'm guessing June 28!

[whisper]

I knew the Robertson-Patman, sorry....

I believe the exam was very hard, but fair. It seemed to focus mostly on the main points of the readings without venturing too far into the silly details. The last question on the Notes was intimidating, I hope I answered it correctly.

[MNBridge]

I had no clue on the Notes question. Hope that isn't the difference.

Overall I felt I did better than expected, but you never can be sure if you switched authors on the according to 'X' questions.

Did anyone else find there was alot of extra unneeded data for the RBC ?. Credit Risk is just 50% of Reinsurance recoverables right? (not other recoverables) and the other half is added to Res Risk.

Also was the payment pattern one a little to easy? I just found that 2% was paid in year 9 - 10 and then used 2% for each year after that.

[whisper]

According the Feldblum paper, it is 10% of the reinsurance recoverable and 5% of other recoverable.

For the Sch P I got 2% until the last year, which it was 5%.

[Flora]

hmm maybe I miscounted, but my last year was 3%
I did include other recoverables, but couldn't remember the % so I put them t 10% also - partial credit.

[Branwell]

Sadly, I was underprepared for Part 7US and clueless on that last question (and some others).

However, it looks to me like a good question. Rather than merely asking "have you memorized what Note X is about", it shows you some financial data and expects you to say "Hey, here's a situation that calls for significant discosure in Note X". That seems like a much better test of understanding.

[Flora]

except, Branwell, that when preparing an actual A.S. for your company, you would probably have a list of the Notes in front of you so you know what you are expected to report - rather than having to remember what all the Notes are from your head and deciding which ones are important, you would have to answer them all, but they would be given.

[SMOKIN' ACTUARY]

I did seem like experience would definitely help you answer the last question.