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-   -   Spring 2019 LTAM Progress Thread (http://www.actuarialoutpost.com/actuarial_discussion_forum/showthread.php?t=336596)

sukkev08 11-20-2018 02:04 PM

Spring 2019 LTAM Progress Thread
 
I don't see a thread for Spring 2019 sitting, so decided to start one.

I know it is a bit too early, but I know I won't have much time in December and January... starting early!

For anyone who has previously prepared the exam only using CA online manual and ADAPT, how did it go?

Magus 11-21-2018 02:18 PM

Quote:

Originally Posted by sukkev08 (Post 9483735)
For anyone who has previously prepared the exam only using CA online manual and ADAPT, how did it go?

I took MLC a year ago using ASM plus a couple weeks of ADAPT and got a 5. This time I used the CA online manual, ADAPT, and focused more on WA. I really liked how concise CA manual was, but I think it helped having the base knowledge from ASM.

I finished ADAPT with a 6.18 after 13 exams. I flew through most of the MC questions and would guess I got 16/20, with maybe 14 on the first pass. I think 25% were on the new LTAM topics, but fortunately they were extremely basic. I felt like I had more time for WA than I did with MLC.

For WA, I worked through SOA sample, previous exam, and CA questions 1-3 times depending on my results. I felt pretty good about 4 WA since they were very similar to ones I had seen. 2 were new to me and I really struggled with #6 even though I felt good about Pension problems.

I felt better leaving the exam than with MLC so I'd be disappointed (but not exactly surprised) if I fail again.

preyas999 11-25-2018 10:40 PM

I'll be joining you. Just wrote IFM a week ago (really iffy on how it went, I can see myself passing or failing with no surprise either way) and just bought CA Learn Pro package for LTAM. Hopefully Dave can carry me to a pass!

SweepingRocks 11-26-2018 12:05 AM

I'll also be joining in the LTAM festivities


Quote:

Originally Posted by preyas999 (Post 9485407)
I'll be joining you. Just wrote IFM a week ago (really iffy on how it went, I can see myself passing or failing with no surprise either way) and just bought CA Learn Pro package for LTAM. Hopefully Dave can carry me to a pass!

Break a leg!

CarolynMarie 11-26-2018 12:08 PM

I was wondering when this thread would pop up!

I took the first sitting of LTAM in October, but wasn't very optimistic going into it. I actually felt much better than I thought I would coming out of it, but I still don't think I passed.

Quote:

Originally Posted by sukkev08 (Post 9483735)
For anyone who has previously prepared the exam only using CA online manual and ADAPT, how did it go?

I used (and will use) the CA online manual, their video lessons, and ADAPT, and I think they're all great. I love how everything is organized and lines up across the different materials, and I think the manual is clear and concise. My problem in October was that I got caught up at work and ended up not taking the sitting 100% seriously because I didn't think I had enough time to study, but I'm all in this time!

sukkev08 11-26-2018 01:53 PM

I wish my company would pay for CA video lessons... but I like how concise their online manual is written and it does its job so far, mated with ADAPT quizzes.

ActuaryEveryday 11-26-2018 03:16 PM

Gonna prepare for it.
Does anybody suggest to go over the questions from ASM LTAM?
For MFE and C, I just learned the materials from ASM and did practice from samples and CA/Mahler.
For different exams I think they should have different study plans.
ASM questions typically not match the exam difficulty.
Thanks.

sweptawaybythesea 11-27-2018 04:08 PM

Just sat for IFM and I'm confident I passed. All in for LTAM in April...wooo so excited.

kimjongfun 11-29-2018 12:26 PM

took it in october, 99% chance I'll be taking it in the spring

HaloPewPew 11-30-2018 12:16 PM

Making my study schedule now! Have TIA and going to use adapt quizzes in between topics.

I just started a new job so it looks like I'll be studying mostly in the AM

urbjhawk 11-30-2018 03:48 PM

Will hopefully be attempting in April, my pace is going a little slowly. I'm using Coaching Actuaries Learn videos paired with Adapt and am just now finishing up with the life insurance section, on to annuities soon.

Mr. Stoppable 12-04-2018 02:15 PM

I'm switching tracks, y'all! LTAM here I come!

ryanpez 12-22-2018 07:16 PM

Anyone have recommendations on TIA vs CA for LTAM? They are both about the same price. I'm leaning towards TIA. Thanks.

sukkev08 12-26-2018 03:36 PM

Quote:

Originally Posted by ryanpez (Post 9503235)
Anyone have recommendations on TIA vs CA for LTAM? They are both about the same price. I'm leaning towards TIA. Thanks.

heard good things about TIA for LTAM/MLC. very concise and lots of practice problems.

I'm using CA online manual though, coupled with ADAPT. So far so good :study:

Seasplash 12-31-2018 02:34 AM

I just wanted to say how much I hated the Exam Tables they gave us during the Fall 2018 sitting. Why do the numbers need to be so unnecessarily small?

msuMATH2013 01-02-2019 01:25 PM

Quote:

Originally Posted by ryanpez (Post 9503235)
Anyone have recommendations on TIA vs CA for LTAM? They are both about the same price. I'm leaning towards TIA. Thanks.

My biggest advice is stick with whatever worked for you in the past, for me an ASM manual and ADAPT. I passed three exams with that and switched to TIA after getting a job that covered study materials and have failed MLC multiple times now. I'm not blaming TIA, I'm blaming me changing a winning combo.

Ursus_Maritimus 01-02-2019 11:02 PM

Quote:

Originally Posted by msuMATH2013 (Post 9507203)
My biggest advice is stick with whatever worked for you in the past, for me an ASM manual and ADAPT. I passed three exams with that and switched to TIA after getting a job that covered study materials and have failed MLC multiple times now. I'm not blaming TIA, I'm blaming me changing a winning combo.

Maybe, but also LTAM/MLC under written format is significantly harder than other preliminaries so I wouldn't say its fair to conclude that you'd have a different experience had you stuck with ASM+Adapt. I'm saying MLC is the hardest based on my own experience taking all prelims and an FSA exam and my coworkers (though I don't know anybody who's taken Predictive Analytics so not sure about that one).

With LTAM, the concepts are easy to pick up, but don't let this fool you. I'm obviously generalizing here, but from my own experience and the dozens of coworkers I know who have taken the exam (a lot who have taken it 2,3 and 4 times) the two biggest things different about LTAM from other preliminary exams are:
  1. On the written answer, questions are tested in a way which remembering the formulas and being a genius in stats and calculus is not sufficient. A strong understanding of basic concepts and especially how they can be fit together on a test question is needed to pass.
  2. You will not get to answer every part of every question on the exam adequately, there is not enough time on the exam for all but the strongest of candidates. You need to be writting for the entire exam and spend your time wisely

I passed with TIA but felt it was not perfect - I was underprepared on certain topics, but it fit my learning style since I felt like the videos and guide gave me a firm grasp on the basic and core concepts even though it didn't cover or brushed over certain advanced/detailed topics which are underweighted on the tests. Those topics inevitably will show up on the test to some degree, but obviously it's no coincidence the topics covered well by TIA are the ones which make up the meat of the exam.

Chappy 01-03-2019 09:12 AM

Anybody else planning on using the last ASM MLC manual to study for this?

Actuarial Brewski 01-03-2019 09:12 AM

Could anyone post the suggested study scheduled form Coaching Actuaries? Thinking about going for this sitting and using CA or trying to do PA.

ActuariallyDecentAtBest 01-03-2019 09:22 AM

Quote:

Originally Posted by ryanpez (Post 9503235)
Anyone have recommendations on TIA vs CA for LTAM? They are both about the same price. I'm leaning towards TIA. Thanks.

TIA hands down.

tkt 01-03-2019 02:40 PM

1 Attachment(s)
Quote:

Originally Posted by Actuarial Brewski (Post 9507751)
Could anyone post the suggested study scheduled form Coaching Actuaries? Thinking about going for this sitting and using CA or trying to do PA.

See the attached. Let me know if you have any questions!

Actuarial Brewski 01-03-2019 03:34 PM

Quote:

Originally Posted by tkt (Post 9508225)
See the attached. Let me know if you have any questions!

Thanks a ton, super helpful!

Outsanity 01-04-2019 08:43 AM

Quote:

Originally Posted by Chappy (Post 9507749)
Anybody else planning on using the last ASM MLC manual to study for this?

I am!

I'm also using TIA, but TIA tends to skim a little and focus on the test-taking part whereas ASM tends to go deeper into the proofs and theories.

Bama Gambler 01-04-2019 10:02 AM

Quote:

Originally Posted by Outsanity (Post 9508673)
I'm also using TIA, but TIA tends to skim a little and focus on the test-taking part whereas ASM tends to go deeper into the proofs and theories.

Thanks for the feedback. Can you please give an example of this? I've flipped through the ASM manual and I didn't see anything that I don't cover in great detail.

I've worked every published exam in the last 10 years and I haven't seen a single problem that was not covered in my course. I'm not trying to be confrontational, but I genuinely don't know why people say this about my course. I will happily add stuff to the course if it is needed, but I don't want to waste students time with stuff that will not help them pass.

Outsanity 01-04-2019 07:29 PM

Quote:

Originally Posted by Bama Gambler (Post 9508738)
Thanks for the feedback. Can you please give an example of this? I've flipped through the ASM manual and I didn't see anything that I don't cover in great detail.

I've worked every published exam in the last 10 years and I haven't seen a single problem that was not covered in my course. I'm not trying to be confrontational, but I genuinely don't know why people say this about my course. I will happily add stuff to the course if it is needed, but I don't want to waste students time with stuff that will not help them pass.

Hi!

Please don't take offense to my words or take it to mean that the TIA course is not good/detailed or not covering enough! I used TIA for 3/4 of the exams I passed, so I can definitely cast a vote of confidence for TIA.

I only mean that TIA tend to focus on more on what is likely to be tested and focused on streamlining the material so students are passing the exam efficiently, whereas ASM tends to delve into proofs and formula derivation every chance they get. ASM also has tons of extra end-of-chapter problems geared toward understanding the material as opposed to exam-problem-solving focus that TIA has.

IacceptTheTerms 01-04-2019 08:51 PM

Quote:

Originally Posted by Outsanity (Post 9509444)
Hi!

Please don't take offense to my words or take it to mean that the TIA course is not good/detailed or not covering enough! I used TIA for 3/4 of the exams I passed, so I can definitely cast a vote of confidence for TIA.

I only mean that TIA tend to focus on more on what is likely to be tested and focused on streamlining the material so students are passing the exam efficiently, whereas ASM tends to delve into proofs and formula derivation every chance they get. ASM also has tons of extra end-of-chapter problems geared toward understanding the material as opposed to exam-problem-solving focus that TIA has.

Isn't the goal to pass the exam?

Outsanity 01-05-2019 02:08 PM

Quote:

Originally Posted by IacceptTheTerms (Post 9509493)
Isn't the goal to pass the exam?

Exactly.

Bama Gambler 01-05-2019 11:12 PM

Quote:

Originally Posted by Outsanity (Post 9509444)
Hi!

Please don't take offense to my words or take it to mean that the TIA course is not good/detailed or not covering enough! I used TIA for 3/4 of the exams I passed, so I can definitely cast a vote of confidence for TIA.

I only mean that TIA tend to focus on more on what is likely to be tested and focused on streamlining the material so students are passing the exam efficiently, whereas ASM tends to delve into proofs and formula derivation every chance they get. ASM also has tons of extra end-of-chapter problems geared toward understanding the material as opposed to exam-problem-solving focus that TIA has.

Thanks! Sometimes we go into more detail on the forums if a student is curious about a certain topic. But I always encourage students to focus on preparing for the exam and not get side tracked until after the exam.

magicjello 01-07-2019 02:41 PM

Anyone know of any in person seminars for this? I'm aware of the Jim Daniels one, but am trying to find some to compare when deciding whether to do something like this.

Chappy 01-21-2019 01:57 PM

I'm getting confused as to what we have to derive from first principles for the beta distribution and what formulas we are allowed to use.

For example, question 5.12 ASM (13th edition maybe?) has a survival function of a beta distribution and gives you the force of mortality and the complete future life time. They ask you to calculate what the exponent of the beta distribution is.

In the solution, they use the fact that it is a beta distribution and skip right to r/(w-y) for force of morality and (w-y)/(r+1) for future life time. Are we allowed to use these formulas on the test? I thought I read somewhere that you need to derive all formulas for beta.

What happens on a test if you use a formula that isn't given but and you arrive at the right answer? For this question, it is much faster to use these formulas and if it is just a one point deduction then I think I would rather take that hit and continue on the test than to spend 5 minutes deriving the formulas.

NotSmart 01-21-2019 02:45 PM

Quote:

Originally Posted by Chappy (Post 9522746)
I'm getting confused as to what we have to derive from first principles for the beta distribution and what formulas we are allowed to use.

For example, question 5.12 ASM (13th edition maybe?) has a survival function of a beta distribution and gives you the force of mortality and the complete future life time. They ask you to calculate what the exponent of the beta distribution is.

In the solution, they use the fact that it is a beta distribution and skip right to r/(w-y) for force of morality and (w-y)/(r+1) for future life time. Are we allowed to use these formulas on the test? I thought I read somewhere that you need to derive all formulas for beta.

What happens on a test if you use a formula that isn't given but and you arrive at the right answer? For this question, it is much faster to use these formulas and if it is just a one point deduction then I think I would rather take that hit and continue on the test than to spend 5 minutes deriving the formulas.

The exam won't test for understanding beta distributions. I would just memorize.

NotSmart 01-21-2019 02:51 PM

Just an advice to people taking this exam: Understanding isn't as important as being able to memorize and recall the formulas in the formula sheets.

I would get comfortable with all the formulas first before trying to get a deep understanding of the material.

Chappy 01-21-2019 02:55 PM

S0(x) = (k^2 - x)^0.5/k

What is S30(x)?

I thought it was [(k^2 - x)/(k^2 - 30)]^0.5 but don't think this is correct.
Is it [(k^2 - x - 30)/(k^2 - 30)]^0.5?

NotSmart 01-21-2019 02:56 PM

Quote:

Originally Posted by Chappy (Post 9522829)
S0(x) = (k^2 - x)^0.5/k

What is S30(x)?

I thought it was [(k^2 - x)/(k^2 - 30)]^0.5 but don't think this is correct.
Is it [(k^2 - x - 30)/(k^2 - 30)]^0.5?

Express S30(x) using S0(30 + x) and S0(30)

Future lifetime of a newborn is 30 + x, not x, so your 2nd expression is correct.

NotSmart 01-21-2019 02:59 PM

Again, I highly recommend you just memorize the formulas instead of trying to understand them.

Almost everyone I know who has problems with this exam tried to understand concepts when they should have been memorizing formulas.

NotSmart 01-21-2019 03:31 PM

The University of Michigan is known for having a strong math department.

You should crush this exam easily. I have a 470 SAT Math score, and I crushed this exam.

Colymbosathon ecplecticos 01-21-2019 06:05 PM

Quote:

Originally Posted by NotSmart (Post 9522868)
The University of Michigan is known for having a strong math department.

You should crush this exam easily. I have a 470 SAT Math score, and I crushed this exam.


Your math degree is from Capital Community College, right? That's what your profile indicates. Just curious.

NotSmart 01-21-2019 08:12 PM

Quote:

Originally Posted by Colymbosathon ecplecticos (Post 9523001)
Your math degree is from Capital Community College, right? That's what your profile indicates. Just curious.

?
Where does it say that?

Gandalf 01-21-2019 08:29 PM

Your profile says your college is Capital Community College. It does not say you got a math degree. Is it wrong?

NotSmart 01-21-2019 08:31 PM

Quote:

Originally Posted by Gandalf (Post 9523032)
Your profile says your college is Capital Community College. It does not say you got a math degree. Is it wrong?

I did not major in math. I got my Associate's in General Studies.
I'm not sure where he got the idea I majored in Math.


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