Course 5, Second Time Around

[ACCtuary]

What do you recommend for a second studying of material. I got a 5 last time. This is my plan

Go back over last year's test and my grades on individual problems
Look at suggested solutions and see where I could have written more.
Look at "" and see where I could have written anything! worth a couple of points
Review the P/C book.
Outline new Chapter assigned (5) not on last exam.
Review detailed outline for entire syllabus and memorize - review parts that were difficult or just hideously boring.
Go to seminar.
Look at pension in a little more detail. I think next year's problems will be a little harder, and there will be a Pension Essay from Fundamentals of Private Pensions
Firm up on Financial Material from LIFP (profit measures, RBC, Tax Considerations, DAC). I think there will be a financial statement analysis on this year's exam.


What's yours?

[Dr T Non-Fan]

Good plan, except you didn't state when you will be starting.

[Ponderer]

Are there new chapters this year on the syllabus relative to last year's?

[Ponderer]

Honestly I don't know if I should feel confident in passing this exam the second time around, because I almost totally skipped the individual health and the group insurance stuff last year (yeah, bad move, due to time constraint), resulting in not being able to get 17 points (pure list-type questions) on the essay section, and then some on the MC section, and yet was able to pull a 5 on my first attempt.

[Elessar]

My plan, from someone who got a 3 last year in my first attempt:

1. Take detailed notes on first read-through (something I didn't do last year) then try to condense and compare with the JAM outline.
2. Memorize JAM's condensed outline much earlier this time (i.e. treat it as a starting point) and then fill in with as many details as my tiny mind can handle.
3. Go over P/C problems much more in-depth. Review the new chapter on syllabus from P/C book.
4. Absolutely know in my sleep all the life insurance formulas and problem types--I believe there will be a huge problem on it this time around.
5. Try not to ignore the MC so much this time around. I know a lot of people really discount it, but it is (or has been, at least) 1/5 of the points, and that could really make a difference. I like the idea someone gave about the MC from Course 6 in that they were treating it as one big 15-point question. I will be doing that this time around.

I went to JAM last year, and my company doesn't pay for a second seminar, so I'll be relying on Carmody's outlines alone, but I'll be heavily reviewing the notes I made last time.

I intend to begin at the end of July. I think that will give me enough time to really get through everything. I know a lot of people are starting much earlier but I just can't make myself do it. I feel as long as I dedicate myself to putting a lot of time in, I will pass with ease. (of course, I say that now--talk to me in September! :) )

[ACCtuary]

DTNF: I plan to start October 27. Oh wait- I think I mean May 27. I am concerned somewhat about early burnout. But I must pass, since my boss expects me to pass at least one. If I pass 6, then I must pass because I want those d#mned letters after my name.

The goal is to hit 300 hours without doing too much on one particular day. Only the last week do I want to be studying more than 5 hours per day.

Of course, my study plan also depends on who is going to be in the World Series. Since I do not think the Yankees will be there (but maybe the Mets?) I can probably get some quality studying done in October.

I will re-assess the baseball scene in September to determine if I need to get done before the Series :crazy:

[ACCtuary]

I believe Chapter 5 of the P/C book will be making its premier on the exam. On the bright side,there is a 99.9% chance there will be a question on it!

Looks like the same four study notes as last time.

[Dr T Non-Fan]

I'd start a little heavier at the beginning, allowing for a breather/World-Series/emergency.
Followed by light overview repetition, then full-out cramming at the end.

[Elessar]

The way things are going now, I think it's just as likely that you're going to see the Yankees in the Series as the Mets at this point (as much as it pains me to say that). Of course, that's assuming there's a Series at all.

When I took Course 3 in November 2000, I couldn't concentrate at all in October. Luckily I'd studied enough to pass.

[LightSwitch]

(Reposting from another thread -- it perhaps fits better here.)

I will be taking SoA5 again. I think my approach will be a kind of "card" based or "card" driven learning.

My plan is to stick to the daily schedule using the planned study time to

(1) Learn points on the cards. In the next several months I will go through the syllabus by reviewing the JAM cards, taking the time to learn – but not memorize -- each of the points. I will learn the points by first reviewing the Detail Outline and if necessary reading the text. At this point I will attempt to learn the points on each card well enough so that if I was given the points, I could elaborate about them like I would have to on the exam. About 7 weeks out from the exam I will go back and start to memorize the points.

(2) Work problems along the way.

(3) Read through each page of material/text, if there is time remaining in daily schedule permits.

In the past, one things that slowed me down when memorizing is that I am actually learning some of the points on the cards rather than just memorizing to be able to recall the complete list of points -- points which I have already learned earlier in the semester. Although similar, I think, that is worth distinguishing. The main impetus of this approach is that I have felt that there is enough of a difference between (1) reading through the syllabus trying to understand it all, which I feel I did to some degree, and (2) learning the points on the cards.

Any thoughts, comments, questions?

[FoxtrotFool]

LS,

if you are doing "card" based learning, then getting the HYPE cards is a must. Unless you are REALLY good at creating your own mnemonics.

[LightSwitch]

Interesting: HYPE cards better than JAM cards. Is it just that the HYPE cards have better mnemonics? I seem to recall that HYPE had like 1/3 the cards that JAM had. What would be a comparison/contrast between the HYPE cards and JAM cards?

[FoxtrotFool]

I am getting both JAM and HYPE cards. They are the same size, so you can combine them.

JAM cards are basically the condense outline restated. Occationally, the lists are reordered to form some fairly unrelated mnemonics. (e.g. international investment - MAP of COLoR and ART)

HYPE gives you almost the same number of cards, maybe a bit less. It has about 1/4-1/3 of the lists with good context sensitive mnemonics. (e.g. international investment - consider A LITTLE Political risk.)

In term of pure volumn, JAM tend to have more finely separated topics, which leads to more cards.

In term of completeness, I think they both cover the entire syllabus, with different organization and emphasis. HYPE also has some "out of syllabus" material that he considered to be useful to know.

In term of usefulness. Good mnemonics are easy to learn and memorize, and retain, since you start with some clue. Having 1/3 of the material in mnemonics really cut down the effort it takes to memorize all the lists. (especially most of the HYPE mnemonics are the more important lists) So I would take HYPE over JAM if I am only allowed one set.

In terms of my plan, I would start early and sort through all the 'cards' that I can get my hands on. (maybe even ACTEX) Sort through the cards so I have the best of both decks. And then I might try to create my own lists from those that I considered to be important, but neither deck has a good mnemonics.

[mayreeh]

Cards ---

Last year I used HYPE and JAM cards and combined the best of each to make a set that I memorized. I ended up adding about a dozen additional cards - sometimes just my own memory aid, sometimes a topic that was skipped in the others that I thought could make a question.

Problems ---

Work them. Work all of them that you can. Pick samples of various types to more or less memorize. Recall the P&C reserve problem that gave many people fits last year because "obviously" they would never ask a question that complicated on an exam.

Well, they did. And they could again.

[AOnly]

What P&C reserve problem?

Then again, maybe that's why I got a 5.

I remember a P&C ratemaking problem that was 9 points.

[mayreeh]

Hmmm. I guess it was a ratemaking problem. Maybe that is why I only got a 6.

[ACCtuary]

Actually, this year, I think there will be a more significant question on P&C reserving.