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  #41  
Old 12-17-2019, 05:50 PM
whatdoactuariesevendo whatdoactuariesevendo is offline
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The relativities videos are pretty bad. It seems like almost nothing is explained, like in words, and he keeps pulling formulas out of nowhere.
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  #42  
Old 12-17-2019, 08:36 PM
Abraham Weishaus Abraham Weishaus is offline
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Quote:
Originally Posted by bigmac View Post
Could someone explain to me what pi(theta) is in the Bayesian credibility? I'm using the ASM manual and it is saying that it is the prior density which isn't really clicking for me. for example on page 757, example 42B, I don't understand where the pi(theta) = 1/3 is coming from but I understand that the model density is based off the single pareto density function.
The prior distribution of a parameter, like theta, is the originally assumed distribution of that parameter, before any information is available.



For a uniform distribution on [a,b], the probability density function is 1/(b-a) in the range [a,b] and 0 otherwise.


In this question, the originally assumed distribution for theta is a uniform distribution on [1,4]. See the second sentence of the example.
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  #43  
Old 12-20-2019, 02:06 PM
tcnjmathmajor97 tcnjmathmajor97 is online now
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Wrapped up the material today. I definitely like ratemaking more than reserving. I did very well on my level 5 quizzes for 4.4 and 4.5 compared to the 5/10s I was getting on 4.2 and 4.3.
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  #44  
Old 12-21-2019, 09:31 AM
vbbrake84 vbbrake84 is offline
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hey, does anyone know how the environment looks on the screen during this exam? i mean, can the questions be put side by side with the tables?

Also, does anyone know if the tables are searchable during the exam?
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  #45  
Old 12-23-2019, 10:43 AM
whatdoactuariesevendo whatdoactuariesevendo is offline
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Quote:
Originally Posted by tcnjmathmajor97 View Post
Wrapped up the material today. I definitely like ratemaking more than reserving. I did very well on my level 5 quizzes for 4.4 and 4.5 compared to the 5/10s I was getting on 4.2 and 4.3.
I still have the last section, Other Topics, left. I didn't do anything this weekend. I'll try to finish it today and tomorrow. And I agree, ratemaking is much easier to solve than reserving, even though I thought reserving made more sense theoretically, solving the problems was a whole other thing.
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  #46  
Old 12-23-2019, 02:38 PM
aactuary92 aactuary92 is offline
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Quote:
Originally Posted by vbbrake84 View Post
hey, does anyone know how the environment looks on the screen during this exam? i mean, can the questions be put side by side with the tables?

Also, does anyone know if the tables are searchable during the exam?
When I took it (June 2019) you had to open the tables separately. You could not have the tables and the question open at the same time. It's pretty frustrating and hard to get used to at first. I did the full problem set up before looking at tables, so if you need four different numbers from the tables you can get them all at the same time.

I have heard the tables are searchable to a degree, but I've never tried, and I know there's some kind of trick to it. I don't think they're searchable by distribution name. I memorized what page each distribution was on, and that seemed to work alright for me.
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  #47  
Old 12-24-2019, 11:48 AM
whatdoactuariesevendo whatdoactuariesevendo is offline
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Quote:
Originally Posted by vbbrake84 View Post
hey, does anyone know how the environment looks on the screen during this exam? i mean, can the questions be put side by side with the tables?

Also, does anyone know if the tables are searchable during the exam?
I don't know how you would search them, but I really wish they just gave us a hard copy. They already give you like 5000 sheets of paper for scratch work.
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  #48  
Old 12-24-2019, 03:15 PM
whatdoactuariesevendo whatdoactuariesevendo is offline
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Just finished all the material, going to watch a few beginning review videos, then jump in to exams. Even if I get zero questions right, I guess that's the best way to review and learn in a way that will mimic the exam, where each topic isn't nicely packaged and primed like for a quiz.
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  #49  
Old 12-25-2019, 03:09 PM
whatdoactuariesevendo whatdoactuariesevendo is offline
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I feel like half of the test is literally just deciphering the question.
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  #50  
Old 12-25-2019, 03:21 PM
whatdoactuariesevendo whatdoactuariesevendo is offline
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Only got 12/35 right on first practice test, totally skipped 18 questions, mostly MLE and Credibility. Is that typical? I didn't really review much except Chapter 1 though.
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