Actuarial Outpost
 
Go Back   Actuarial Outpost > Exams - Please Limit Discussion to Exam-Related Topics > SoA > Corporate Finance and ERM (CFE) Track > ERM Exam
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions



ERM Exam Old Advanced Finance and Enterprise Risk Management (ERM) Forum

Reply
 
Thread Tools Search this Thread Display Modes
  #1  
Old 07-17-2019, 09:50 AM
BadBunny BadBunny is offline
Member
 
Join Date: May 2004
Location: WWW
Posts: 61
Default some ERM Exam Questions

Hi All,
I am taking the FSA Exams for the first time, and have few questions on the ERM Exam format. My apologies if these have been asked before - did a quick scan to make sure, but I may have missed.
So, my questions are:
1. It seems like the case summary is posted before the exam ? if this is true, any estimate of when it will be posted ? like 2 wks before or 10 days...?
2. Do we get a list of formulas for CDFs and Normal/Chi square numbers like the prelims ? there were some questions refering to GPD but no CDF given - if this is the only CDF, that's OK but wondering what the general case is.
3. Any idea what the pass mark is ? about 70% like the prelims ?

Many thanks in advance !
__________________
God does not play dice except at Actuarial Examinations ( with apologies to Einstein )
Reply With Quote
  #2  
Old 07-17-2019, 11:08 AM
yyConsultant's Avatar
yyConsultant yyConsultant is offline
Member
SOA
 
Join Date: Jul 2017
Favorite beer: No Alcohol
Posts: 210
Default

Quote:
Originally Posted by BadBunny View Post
Hi All,
I am taking the FSA Exams for the first time, and have few questions on the ERM Exam format. My apologies if these have been asked before - did a quick scan to make sure, but I may have missed.
So, my questions are:
1. It seems like the case summary is posted before the exam ? if this is true, any estimate of when it will be posted ? like 2 wks before or 10 days...?
2. Do we get a list of formulas for CDFs and Normal/Chi square numbers like the prelims ? there were some questions refering to GPD but no CDF given - if this is the only CDF, that's OK but wondering what the general case is.
3. Any idea what the pass mark is ? about 70% like the prelims ?

Many thanks in advance !
About the pass mark, no one knows what exactly it is. I left only 4 points of the 80 with blank but only passed with a score 7. Generally, there is no accurate answer for each questions, the key point during the exam is whether you can figure out the key words or key sentences for each questions as quick as you can. However the key words and key sentences is not only the thing that you have memorized from the material but more the things you have understood and summarized with your own words. Hope this may help you, I have been tortured by this exam for more than 18 months. Good luck to you!
__________________
No Plan B, Just Do It!
CERA, ASA
FSA Module, QFI-QF, QFI-PM, DMAC, FAC
Reply With Quote
  #3  
Old 07-17-2019, 11:16 AM
PaulP's Avatar
PaulP PaulP is offline
Member
SOA
 
Join Date: Jul 2013
Studying for ERM, CFE, SDM
Posts: 1,382
Default

Quality questions!

1) Yes, it will be posted before the exam. 'When' is hard to say exactly, but it will be closer to 2 months than 2 weeks. If I had to bet on it, I would say mid-August it will be available. They put it in the 'Updates' section on ERM's page on the SOA.

2) You can take a look at last sitting's Case Study, which has the tables and formulas that we'll be given. Most likely, it will be the same this sitting.
https://www.soa.org/globalassets/ass...case-study.pdf

3) This is a hard, hard question, to be honest, because...

--The SOA is very tight-lipped about how they set the passing score
--It's hard to figure out exactly how many points you earned

Points on the FSA exams aren't exactly like the points on preliminaries, so it's a tough, tough game to play.

That said, I think 50/80 is probably in the neighborhood of the passing score. From looking at many students' mock exams and studying the past exams, it seems like a passing exam does the following (on average):

-Answered about 50% of the points decently to very well/perfect
-Answered about 30% of the points with some merit, but not great
-Answered about 15% of the points with something, even if it was off mark
-Left about 5% of the points blank

Of course, take this with a grain of salt; the SOA is very opaque with their black box of grading. This is just my take on what makes a passing paper from talking with students (and trying to needle some information out of the SOA )
__________________
Paul - CFE/SDM/ERM Online Seminar Instructor

www.pakstudymanual.com
PAK Study Manual Packages/Seminars for CFE/SDM/ERM Fall 2019

SDM: Sample
CFE: Sample
ERM: Sample
Reply With Quote
  #4  
Old 07-17-2019, 01:06 PM
BadBunny BadBunny is offline
Member
 
Join Date: May 2004
Location: WWW
Posts: 61
Default

Thank you both - this is very helpful !!!
I heard from many sources this is a marathon compared to the prelims...
Paul - thanks again and I will be posting as I go along... so hopefully will hear from you and others...
yy - congrats on passing - it must have been very relieving - after 18 months !!!
__________________
God does not play dice except at Actuarial Examinations ( with apologies to Einstein )
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
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 10:59 AM.


Powered by vBulletin®
Copyright ©2000 - 2019, 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 0.17948 seconds with 9 queries