View Full Version : FREAKING OUT - C3
10-29-2001, 07:24 AM
Hi all - I am in a panic attack!
I am so scared of this exam - we only have a week left - any pointers on how to max out the last week to retain the most info?
I am only close to being able to pass (I think) and want to up that to should be able to pass in this last week. Any ideas?????
10-29-2001, 09:29 AM
Go through the past exams and make sure you can do those problems that appear frequently...
Examples: (1) the guy that walks down the street finding coins at Poisson rate where 60% are worth $1, 20% worth $5 and 20% worth $10 has appeared in each exam, so you can bet this type of problem will be back
(2) problems involving the distribution of
S= N * X
E(S) = E(N)*E(X)
VAR(S) = E(N)*VAR(X)+[E(X)]^2*[VAR(N)]
I believe this has appeared at least twice on each exam, so know it.
10-30-2001, 10:57 AM
I'm no great test taker, but, at this point, I'd say don't wig out trying to learn new material. Concentrate on the material you've mastered and divest yourself of problem baggage. Eg. I can't do benefit reserves worth a d*mn, so I'll skip them altogether. Remember, its not a race to 40. Think of it as shooting for a solid 21 or 22. If you can manage that, guessing will almost surely put you over the top.
10-30-2001, 11:53 AM
Thanks for the advice!
Good plan to know the repeated questions. I do have to learn not to get so hung up on the ones that I can't get.
I am just feeling borderline and wanted a more solid feeling (if there is such a thing)
How is everyone else feeling?
10-31-2001, 03:56 PM
I do not know if many people have a very solid feeling going into these exams. I myself have felt borderline almost every time and have scored a 0 and a 10, and many scores in between, so it all depends on the questions asked. I am hoping that I can nail the easy ones that they ask about some of the less important topics and leave the exam room with a somewhat comfortable feeling.
<font size=-1>[ This Message was edited by: The Rock on 2001-10-31 15:56 ]</font>
10-31-2001, 05:07 PM
Rocky - I smell what you're cookin!
11-02-2001, 03:44 PM
I've just finished about two weeks of going over the sample/previous tests for course 3. As I went, I was categorizing each problem -- based on that categorization I predict:
4 problems in which you use the formula APV = sum(benefit*discount*probability of payment)
3 problems on benefit reserves, probably using the formula k_V = ((k-1_V+P_k)(1+i)-q_k*b_k)/p_k
3 problems on multiple decrement tables
3 problems using either E[S]=E[N]*E[X] or Var(S) = E[N]*Var(X) + Var(N)*E[X]^2 or both
3 problems on joint life
2 problems on using the normal approximation
2 problems on simulation
At least one problems each on ruin, loss at issue, Markov chains, convolution, fractional ages, and expected payment per payment.
8 miscellaneous problems which will be easy (for me). :smile:
5 miscellaneous problems which will be difficult if not impossible (for me). :sad:
That's 39 problems. The 40th will probably be on Brownian motion.
Good luck, everyone...
11-02-2001, 04:31 PM
Can we get a money back guaranty on that, Thing???
Boy, I know all of those formulas, the problem is in the correct application of them.
:smile: :smile: :smile: :smile:
11-02-2001, 04:44 PM
sure, Mikey -- if I'm wrong I'll give back all the money you sent me... :smile:
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