Study Guide Question

[Avi]

I would like to tap into the accumulated experience here in RF.

If you could, could you also list reasons after voting?

Thanks in advance,

Avi

[Bama Gambler]

I voted Mahler and Batten assuming Batten means attending Batten's seminar. His manual is very hard to understand if you have not gone to his seminar. He would be the first to tell you that. IF AT ALL POSSIBLE GO TO BATTEN'S SEMINAR!!

Bama Gambler

[drctypea]

imo..all you need is arch and the AM textbook for life contingencies, and Mahler for the non life stuff. i also had actex which i used for their practice exams. this test (atleast for me ) took alot of grueling hours and tossing and turning filled nights, as i struggled with the concepts and questions. in the long run i think it worked out..but still none of these books i dont think is going to make or break you...sweat and natural ability will take you a long way...

[4sigma]

I'm not familiar with the Batten. I used Mahler and Arch-3. I think that these two complement each other extremely well.

Arch-3 covers all the basics, though it omits detail. ["After a bunch of calculus, this equation becomes..." is commonly found. If you want to see the details of the integration by parts, you have to go elsewhere.] Also ARCH-3 has relatively few problems, though I understand they may be adding more. The writing style is very easy to understand -- almost conversational rather than the usual pedantic textbook style.

Mahler, however, covers the material (not the AM, but the remaining material) in excruciating detail and has oodles of problems. I love Mahler's thoroughness, though it is a bit much to digest. And there just isn't time to do all the problems.

So I studied from the ARCH-3, and when I felt that maybe I didn't fully get something, I would switch over to the Mahler notes on that one topic for all the gory details, and/or to work more problems. Then back to the ARCH-3, etc.

Hope that helps.

[Bama Gambler]

imo..all you need is arch and the AM textbook for life contingencies, and Mahler for the non life stuff. i also had actex which i used for their practice exams. this test (atleast for me ) took alot of grueling hours and tossing and turning filled nights, as i struggled with the concepts and questions. in the long run i think it worked out..but still none of these books i dont think is going to make or break you...sweat and natural ability will take you a long way...

I too struggled with these problems at first. Then I attended the great Batten's seminar. He cleared things up wonderfully.

[drctypea]

you love batten :P . ..does he do any seminars for 4

[350Z]

I know some people dislike it, but I used Actex as my only source of learning and reviewing. I bought the Batten study manual as well, but never really got into it because it assumes you have read the book, which of course, I hadn't. The reason I like Actex is that it explains most of the concepts fairly well, including numerical example, has a condensed formula set at the end of each section, and has numerous practice problems that are exam caliber.

[Bama Gambler]

you love batten :P . ..does he do any seminars for 4

Unfortunately he only does course 2 and course 3 seminars :(

[drctypea]

you have any early thoughts are what seminar, if any, you are taking for 4?..ive been asking around a bit but havent given it much thought yet

[Bama Gambler]

If I go to a seminar it will prob. be NEAS. I haven't heard any good things about any of the seminars for course 4.

[drctypea]

you hear anything about broverman seminar?

[rafkooch]

I heard GSU for Exam 4 sucked.

[totask]

Mahler has 1500 papes. I do not know who can completely understand it .

I wonder if someone use ACTEX + ARCH-3.

[Macroman]

Ask yourself, are you the type of student who wants every detail explained, or is it ok if the teacher paints a broad outline and lets you fill in the details? Mahler is the type to go into great detail which most people like. It may not be right for you.

You don't need to understand every bit of any study manual, textbook or past exam. You need enough to pass.

[speculation_alert] If you get the most important 1/4 of what is in Mahler that is probably enough on that part of the exam to pass.[/speculatiion_alert]

[totask]

I know Mahler's note is also widely recommended. Someone said that
it doesn't cover the material in Life Con. (Or Arch-3 make it up?)


Would anyone explain it a little bit ? Or what is percentage of Life Con in the exam ?

Thanks in advance!

[Macroman]

Life Con 40%-50%
Loss Models 25%-35%
Simulation and probability 5%-10% each

This is very rough but should give you the idea. Not all problems will fit neatly in one category, and some problems (ruin in particular) may be answered using the techniques from more than one source.

Mahler's materials will be enough to give you a good handle on about half of the exam.

Other study guides like Arch, Actex, BPP and HTP claim to be comprehensive. For the most part they do a good job but often overlook some details and tricks in the more specialized manuals.

Batten is specialized to Life Contingencies.

[Macroman]

I'm gonna hate myself for this, but I'll outline the very basics of what each part is about

Life Contingencies: Life tables, life annuity values, value of life insurance, joint life versions of same, variances of same (chapt 3-6 AM). Premiums, Reserve and Variance of Loss Random variable (chapt 7-8 AM). Ruin and Risk Theory (Chapt 13)

Loss Models: Distributions of loss including most of the oddball statistical distributions, Modification of loss by deductible, coinsurance and policy limit. Klugman also has his own version of a ruin model.

Probability: Basic probability ditributions and Markov chains. Markov chains have been tested consistently and are usually among the easier problems.

Simulation: Stochastic simulation of random variable or process. Commonly tested: Inverse transform method of simulating a random outcome.

Summary: there is a lot of stuff, which is why people tell you here that you should get started. I don't think getting the best study manual is nearly as important as getting as much as you can out of what you have.

My suggestion: Get the textbooks and Arch-3 and get going.

Mahler and Batten are seminar providers and their materials are primarily intended to support that purpose. If you can afford to go to a seminar go for it and make full use of the materials.

If not going to a seminar I'd stick with regualr study manuals. Currently I rank the ones I have seen/used Arch-3, Actex, HTP

[oedipus rex]

Are there any Course 3 passers out there who didn't use a manual?

[Avi]

I'm gonna hate myself for this, but I'll outline the very basics of what each part is about

Life Contingencies: Life tables, life annuity values, value of life insurance, joint life versions of same, variances of same (chapt 3-6 AM). Premiums, Reserve and Variance of Loss Random variable (chapt 7-8 AM). Ruin and Risk Theory (Chapt 13)

Loss Models: Distributions of loss including most of the oddball statistical distributions, Modification of loss by deductible, coinsurance and policy limit. Klugman also has his own version of a ruin model.

Probability: Basic probability ditributions and Markov chains. Markov chains have been tested consistently and are usually among the easier problems.

Simulation: Stochastic simulation of random variable or process. Commonly tested: Inverse transform method of simulating a random outcome.

Summary: there is a lot of stuff, which is why people tell you here that you should get started. I don't think getting the best study manual is nearly as important as getting as much as you can out of what you have.

My suggestion: Get the textbooks and Arch-3 and get going.

Mahler and Batten are seminar providers and their materials are primarily intended to support that purpose. If you can afford to go to a seminar go for it and make full use of the materials.

If not going to a seminar I'd stick with regualr study manuals. Currently I rank the ones I have seen/used Arch-3, Actex, HTP

Thanks for the detail!