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  #61  
Old 05-09-2019, 08:58 AM
actuarially a scientist actuarially a scientist is offline
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How long does it take to prepare for this exam? 2/3/4 months?
I think that depends on your available time over the 2/3/4 months. I'm putting in about 4 hours a day for 8 weeks, and am not sure that it'll be enough. Given, I'm only two weeks in. Ask again when results come out in August.
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  #62  
Old 05-09-2019, 09:41 AM
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I think that depends on your available time over the 2/3/4 months. I'm putting in about 4 hours a day for 8 weeks, and am not sure that it'll be enough. Given, I'm only two weeks in. Ask again when results come out in August.
Cool, it's too late for me to start for June, I'll probably go for the October sitting, depending if I passed LTAM or not, feeling okay about it but you never know
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  #63  
Old 05-09-2019, 09:45 AM
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How long does it take to prepare for this exam? 2/3/4 months?
Here's my post from the February thread about how I did it in exactly 3 months. Personally, I don't think 2 months would've been enough for me, but depends on whether or not you have background with the material. If you're wondering based on the wait for April LTAM results, then this post was essentially written for you lol (I started studying for October STAM as soon as I got my MLC results last summer).

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Glad I can finally share this now that Iíve officially passed. I always like to hear about/see a detailed breakdown like this to guide my studying (even when using different materials), so hopefully this helps those of you who have started or will start studying for February STAM and are thinking about materials/study time/etc.
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  #64  
Old 05-21-2019, 11:46 AM
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What EL is the actual exam at if you've taken this exam? I would guess around EL 5, but I've heard some saying it's higher for STAM.
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  #65  
Old 05-21-2019, 07:30 PM
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I'm confused on why this is unearned instead of earned. I figured only 25% of the six month policies would be earned in the calendar year



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  #66  
Old 05-21-2019, 08:22 PM
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How do you figure 25% would be earned? Any policies issues from 1/1 to 6/30 will expire by 12/31 (fully earned). The rest are uniformly distributed throughout the 6 months, so they're half earned. Leaving 25% in unearned premium for 6 month policies.
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  #67  
Old 05-22-2019, 01:17 PM
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Originally Posted by actuarially a scientist View Post
How do you figure 25% would be earned? Any policies issues from 1/1 to 6/30 will expire by 12/31 (fully earned). The rest are uniformly distributed throughout the 6 months, so they're half earned. Leaving 25% in unearned premium for 6 month policies.
I had to draw a line graph for the payment to see this, now I see that the 25% is the tail piece that is unearned.

Thanks.
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Old 05-23-2019, 02:28 PM
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Can someone help me out with an MLE question? I just got a question that says "no information is available about losses of 500 or less." From the solution, it looks like we treat this exactly like a deductible, dividing the likelihood function by S(d)^n.

Can anyone confirm this is correct? That a deductible and a "no information is available less than 500" question would be treated the same? It doesn't make sense to me because we aren't subtracting 500 from the loss amounts, like we would in a normal deductible question.
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  #69  
Old 05-23-2019, 02:52 PM
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Can someone help me out with an MLE question? I just got a question that says "no information is available about losses of 500 or less." From the solution, it looks like we treat this exactly like a deductible, dividing the likelihood function by S(d)^n.

Can anyone confirm this is correct? That a deductible and a "no information is available less than 500" question would be treated the same? It doesn't make sense to me because we aren't subtracting 500 from the loss amounts, like we would in a normal deductible question.
The data are truncated below at 500, as in a franchise deductible with d = 500.
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  #70  
Old 05-23-2019, 03:27 PM
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The data are truncated below at 500, as in a franchise deductible with d = 500.
Right. So for the purpose of finding the MLE, we treat franchise deductible and "regular" deductibles the same?
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