Actuarial Outpost
 
Go Back   Actuarial Outpost > Exams - Please Limit Discussion to Exam-Related Topics > SoA/CAS Preliminary Exams > Exam 3/MLC - Actuarial Models
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions

Meet the Employees of DW Simpson
Patty Jacobsen Simpson, Bob Morand, Kristyn Sakelaris, Sean Loboda, KC Cho, Maureen Matous, Ellen Page
Aaron Benton, Becki Tobia, Kimberly Skora, Margit Vogele, Barclay Burns, Jason Blundy, Dan Karrow, Tom Troceen
Valorie Mulder, Marianne Westphal, Carol Lee, Jennifer Retford, Kieran Welsh-Phillips, Lindsey Nelson, Emily Paxton
Angie Wachholz, Derek Mulder, Julie Garwood, Caitlin Cunningham, David Benton, Dave Retford, Sarah Cleveland, Rhonda Glick
Genevieve Shannon, Meghan Bautista, Carol Datu, Barb Rave, Jesus Perez, Dan Kane, Chris Zdenek, Scott Simon, Kriss Wells


Reply
 
Thread Tools Display Modes
  #1  
Old 04-28-2009, 10:04 AM
kota kota is offline
Member
 
Join Date: Jan 2007
Posts: 35
Default Illustrative Service Table

Hello,

I've just noticed that there's a small table called Illustrative Service Table on the last page of MLC Table. What is it exactly? How to use it? any reference would be very appreciated.

Thanks
Kota
Reply With Quote
  #2  
Old 04-28-2009, 10:36 AM
its_me its_me is offline
Member
 
Join Date: Jan 2003
Location: AO
Posts: 1,864
Default

Its used for Multiple decrements.
__________________
Everyone dreams. Some people are just more active participants.
Reply With Quote
  #3  
Old 04-28-2009, 11:00 AM
Requiem's Avatar
Requiem Requiem is offline
Member
 
Join Date: Jan 2008
Posts: 2,959
Default

I never learned WTF it is, but it showed up on my exam. So learn it.
Reply With Quote
  #4  
Old 04-28-2009, 12:52 PM
nonactuarialactuary nonactuarialactuary is offline
Member
 
Join Date: May 2008
Posts: 1,494
Default

It's used for multiple decrements. It's nothing more than an illustrative life table had it been separated out by type of "death", recognizing that people can leave the population through other means than death. For instance, in an employee population, people can leave the population due to retirement. It was used in an extremely simple problem on the Fall 2008 exam. Somthing like:

Use the IST to find q_70^(r)

This is merely d_70^(r)/l_70, with both of these values directly available on the table. If you had ever used the IST before, the problem only took you 20 seconds to solve. The problem was that many people simply had never used the IST before. A lot of people were confused and didn't notice the question asked about the IST rather than the ILT. A good general exam taking tip is to familiarize yourself with all of the materials they give you on the exam. Print them out from the SOA website before even cracking open a study manual, and keep them with you for the entire time you study. Know the purpose of every column of the ILT, IST, and whatever else is given on the exam. This was a gimme question, but only if you knew what it meant.
Reply With Quote
  #5  
Old 04-28-2009, 04:18 PM
MissAtL MissAtL is offline
Member
SOA
 
Join Date: Mar 2009
Location: Atlanta
Studying for MFE
College: Georgia State University Alum
Posts: 169
Default

Quote:
Originally Posted by Requiem View Post
I never learned WTF it is, but it showed up on my exam. So learn it.
Agreed! I was pissed it showed up on the exam since I had never used it on a problem until that day. It was such a gimme problem, but I wasted so much time wondering why all l_x minus death due to all decrements didn't get you to l_x+1

Don't waste your time stupidly like I did!

*sigh*
Reply With Quote
  #6  
Old 04-28-2009, 05:04 PM
Divergence2 Divergence2 is offline
Member
 
Join Date: Sep 2008
Studying for C/4
Posts: 90
Default

Quote:
Originally Posted by MissAtL View Post
I wasted so much time wondering why all l_x minus death due to all decrements didn't get you to l_x+1
Ummmmm but it does..
__________________
Reply With Quote
  #7  
Old 04-29-2009, 12:12 AM
kota kota is offline
Member
 
Join Date: Jan 2007
Posts: 35
Default

Thank, jts5009, for explanation. I found a brief discussion on page 351 of Bowers, which is not in the reading. i wonder why Actex does not say a word on this table.

Kota
Reply With Quote
  #8  
Old 04-29-2009, 12:29 AM
Actuarialsuck Actuarialsuck is online now
Member
 
Join Date: Sep 2007
Posts: 5,774
Default

Because the table has never been used, IIRC, until the last exam. There were exam questions when they gave a you a part of that table (or something similar) and asked you to find the premium or something but they made no reference to the table itself.
__________________
Quote:
Originally Posted by Buru Buru View Post
i'm not. i do not troll.
Reply With Quote
  #9  
Old 04-29-2009, 01:35 PM
MissAtL MissAtL is offline
Member
SOA
 
Join Date: Mar 2009
Location: Atlanta
Studying for MFE
College: Georgia State University Alum
Posts: 169
Default

Quote:
Originally Posted by Divergence2 View Post
Ummmmm but it does..
Haha, you're right! All I remember is that I spent a lot of uneccessary time figuring out that problem for some stupid reason. But of course, now that I know how to use it, that question won't show up on the May exam!
Reply With Quote
  #10  
Old 04-29-2009, 03:32 PM
wellmabt wellmabt is offline
Member
 
Join Date: Apr 2008
Posts: 404
Default

Anyone know where this is discussed in the ASM manual or in the TIA seminar? And can you point me in the direction of practice problems from ASM or TIA that involve using the IST.
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 12:32 AM.


Powered by vBulletin®
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 0.27453 seconds with 9 queries