COURSE 2 EXAM & ANSWERS POSTED

[Doctor Infinity]

They seem to be posting faster with each exam this week.

http://www.soa.org/eande/course2_1101.pdf

[Anonymous]

geezuz! that sux. what is the pass mark gonna be, I wonda? I probably got another 5!

[Newf]

Littlered,

What was your score? I got 29... right on the bubble between a 5 and a 6, I suspect. Now I get to torture myself for another two months. YAY!

I have no idea what the pass mark will be. Last sitting, one of my coworkers got 30/50 and he passed (I think with a 6). I thought this sitting was a little tougher, but I'm not sure if that makes any difference.

I REALLY hope I passed. I can't handle looking at this material again...

[Anonymous]

I think I got 27, but looking at the questions, I may have mis-"memorized" some of my answers. I guess I will have to wait like a good little b**ch for the SOA to tell me my answers.

[tesla_styx]

I got at least 33...probably a lot closer to 46 though. There are 4 I'm sure I got wrong, 33 I know I got right, and 13 that I'm confident I know how to do (just never know with the computations if i slipped up or not).

[ASA_Woman]

so did you guys think this exam was harder or easier than last sitting? I'm wondering if the pass mark will be the same

[Anonymous]

I thought it was much harder than the May 01 sitting. I don't know how, or if at all, that affects the pass ratio though.

[Toonces]

Tesla, I think I'm in the same boat as you. I got 46 right, with 2 other question that it sure seems like the answer key is wrong.

[tesla_styx]

Cool, hopefully one or two of those questions are disputed successfully. 22 and 37 right? The other two i got wrong because I couldnt figure out how to do them and guessed randomnly (13. and 37.)


On 2001-11-09 10:50, Toonces wrote:
Tesla, I think I'm in the same boat as you. I got 46 right, with 2 other question that it sure seems like the answer key is wrong.

[MakersNeat]

This go around was much harder than the May '01 Exam(in my opinion). I felt much more prepared, but still think I am on the bubble with roughly 28-31 correct. #22 I have agree with the consensus that 12.2%, and could not think of another valid way to calculate it differently. I have problems agreeing on # 23 though. Would someone tell why it is not 2.04(I used(1.05/1.03)*2)?

[cthawk]

I agree, it has to be 12.2% for 22 and 2.04 for 23. I think they messed up

[cthawk]

I think they meant to put D for both of them instead of B, honest mistake

[tesla_styx]

23 is 1.03/1.05*2dollars/lb. think about it... if the inflation rate of the lb exceeds the inflation rate of the dollar, then you will be able to buy more lbs for each dollar, and therefore dollars/lb goes down.

[cthawk]

did you set it up as

1.03=1.05*(2/X)

that gets 2.04

[cthawk]

rogerlee had D for 22 and having 100% of the vote and D for 23 having 55%

[trinity]

23, I got 1.96 because it is pound vs dollar. The exchange rate should be the reciprocal of 2 , ie, .5 pound / dollar. Otherwise you can't use the formula. It's very tricky!

I am pretty sure I got 12 of them wrong. I don't remember the others. who can tell me the passing mark will be ? I can't wait until Jan...........DO not want to sit for another time.

[MakersNeat]

If you got 38, you're in the clear. I personally would like to see the pass mark at 28-29 b/c I could not stand to take this exam yet again!

[cthawk]

ok then explain this formula

.03=.05 - (EXP Change/e nom)
.03=.05 -(X/2)

X = +.04
2.04
please tell me if I am wrong

[Anonymous]

Did someone write to the SOA yet for Question 22 that seems to be wrong?

[tesla_styx]

forget the formula... learn the underlying concept and use your common sense.

[Anonymous]

Can someone explain the answer to number 29.
I thought if price went down and the quantity purchased went down, then the good broke the law of demand. Therefore, wouldn't it be a Giffen good?

[Toonces]

29) It doesn't HAVE to be giffen. For example, if your income doubles and the price of Mac and Cheese goes down by 1 cent, you will buy less Mac and Cheese. But mac and cheese is not Giffen, it's just inferior. In many cases the good would be Giffen, but in ALL cases, the good is inferior (and all Giffen goods are inferior).

[tesla_styx]

the problem is that you dont necessarily kknow that the quantity went down as a result of the price going down.. it could have been due to the change in income which over powered the effect of the price change. Either way itmust be an inferior good. this is why they say a giffen good must be inferior, but an inferior good isn't necessarily giffen. if the answer was giffen, inferior must have been an answer too, which rules out giffen being an answer automaically.

[Anonymous]

1.96 is the corect exchange rate. I didn't know the formula but if a product is to cost the same in 2 places then consider that the product would cost 2.06 in US and 1.05 in UK after inflation. I want to buy the same product in UK but at the same US $, clearly it's 2.06/1.96=1.05. Hey Telsa I am from Boston too!

[Anonymous]

Thanks, that makes sense.

[tesla_styx]

cool godfrey... we must have been in the same room a few days ago. :smile:

[JO]

Hey for those of you who took the exam in Boston, I heard someone puked during the exam?! Is this true??! That would be the funniest thing ever if that was the case.

[tesla_styx]

if someone puked during the exam i must have been too consumed by the process to notice.

[The Drunken Actuary]

Do you really think the passing score would be 30+. I only got 25 right, I think. This Sucks!

[ASA_Woman]

Drunk, next time you might try to start studying for the exam a little earlier. 24 hours WAS cutting it a bit close. But if you did get 25, that was really amazing. 1 point per hour of study ...

[Anonymous]

I stuided for about 40 hours, and think I got something like 27-28..

I didn't mean to study so little because I think I was good, but I find it tough to sit down and study.. maybe because I'm not used to it. I guess when I get to senior years I'll be more prepared and will be able to get myself into studying mood easily.
-that's the problem w/ young people like me I guess-

[GuoQiang]

How to calculate ROE for #50?

[tesla_styx]

hmm.. i think that was answered somewhere else but for 50:

ROE = (amount available to shareholders in 2001) divided by (Avg book equity)

[GuoQiang]

Thanks Tesla!
I think I answered 29 correct. Hopefully can pass the exam.