Fall 2018 LTAM Progress Thread

[Master_of_my_domain]

Originally Posted by Art_Vandelay

you think you can get LTAM in ~3 months? not knocking your aptitude, i'm simply asking because I don't think I'm capable of doing that lol

Given the overlap between C and LTAM is ~20% with survival models and estimators, I feel better about attempting LTAM in the fall rather than waiting until the spring.

I know it's a difficult exam but I think it's a little better at building upon itself compared to C, where the material is so diverse.

Who knows, maybe I'm riding the cloud nine high of having just passed C but I'd want to give it a shot.

[man_risk]

Originally Posted by Master_of_my_domain

Given the overlap between C and LTAM is ~20% with survival models and estimators, I feel better about attempting LTAM in the fall rather than waiting until the spring.

I know it's a difficult exam but I think it's a little better at building upon itself compared to C, where the material is so diverse.

Who knows, maybe I'm riding the cloud nine high of having just passed C but I'd want to give it a shot.

I hope it works out for you. I studied about 3 months for MLC and felt pretty good walking into the room, and then at the end felt like I surely failed. It was a bit of over-reaction because I ran out of time, as it turned out I aced the MC (20/20). I don't know result yet (2 weeks from Friday), but I think I probably passed, despite my awful WA responses. My advice, do every released WA section under exam conditions (except those that are no longer on syllabus). For topics that are newly added, WA will probably be easier, but make sure you know some of the theory behind the topics.

[ActuaryEveryday]

How's the difficulty compare previous exam MLC to exam C? It can be a good reference for me to consider to take LTAM in October.

[man_risk]

With C, I think it was more calculation intensive, where you had to bust out a formula and calculate it quickly. With MLC, it is more about deep understanding of material and ability to derive your own formulas, as well as proofs and verbal confirmation of your understanding. For me, C was intuitive, and came to me pretty naturally. MLC I was fine on the calculations, but when it came to the theory side, I found I could have prepared better.

MLC was more difficult in my opinion, but not vastly so. Getting it on the first try though, I think is pretty damn hard. That being said, I think 3 months is enough if you are dedicated.

[ActuaryEveryday]

Originally Posted by man_risk

With C, I think it was more calculation intensive, where you had to bust out a formula and calculate it quickly. With MLC, it is more about deep understanding of material and ability to derive your own formulas, as well as proofs and verbal confirmation of your understanding. For me, C was intuitive, and came to me pretty naturally. MLC I was fine on the calculations, but when it came to the theory side, I found I could have prepared better.

MLC was more difficult in my opinion, but not vastly so. Getting it on the first try though, I think is pretty damn hard. That being said, I think 3 months is enough if you are dedicated.

Are there any recommended preps? I currently have access to TIA, gonna use that for learning.

[Master_of_my_domain]

Originally Posted by man_risk

With C, I think it was more calculation intensive, where you had to bust out a formula and calculate it quickly. With MLC, it is more about deep understanding of material and ability to derive your own formulas, as well as proofs and verbal confirmation of your understanding. For me, C was intuitive, and came to me pretty naturally. MLC I was fine on the calculations, but when it came to the theory side, I found I could have prepared better.

MLC was more difficult in my opinion, but not vastly so. Getting it on the first try though, I think is pretty damn hard. That being said, I think 3 months is enough if you are dedicated.

This is definitely helpful. I think there's not really a great choice -- I could take SRM in September but that feels even shorter of a time span to study for a brand new exam.

Definitely appreciate the difficulty but having ~100 hrs of paid study time is hugely helpful. And hopefully, I can squeeze in an extra 300 on my own in 3 months time. Worth a shot, at a minimum, rather than sitting on hands for the fall semester.

[Art_Vandelay]

Originally Posted by Master_of_my_domain

This is definitely helpful. I think there's not really a great choice -- I could take SRM in September but that feels even shorter of a time span to study for a brand new exam.

Definitely appreciate the difficulty but having ~100 hrs of paid study time is hugely helpful. And hopefully, I can squeeze in an extra 300 on my own in 3 months time. Worth a shot, at a minimum, rather than sitting on hands for the fall semester.

you could also start modules if you feel like you'd be rushing it, and sit for LTAM in April. i'm not sure what your work schedule is like, though. i have QE these next couple of weeks and again in September so that will take up some of my study time.

[man_risk]

Originally Posted by ActuaryEveryday

Are there any recommended preps? I currently have access to TIA, gonna use that for learning.

I have heard good things about TIA for this exam. I used TIA for MFE and generally liked it, but it took me too long to get through all of the videos.

I like to get the material in a very concise way, and then get to the review and practice step quickly. I used the Coaching Actuaries online manual for this exam, and it worked well for me, but I knew the style I was looking for. They have a free trial of the first 2 sections (about 20% of the material) if you want to see how it is set up. Where they are lacking though is the theory side, as it is all extremely concise. You will need to find other ways to bulk up on the theory side. I did by practicing all released WA questions, which I think worked well, though I wish I started it sooner (like a month before exam day). Maybe TIA would be better in this regard.

I always recommend ADAPT, and for this one it is no different. Get to an EL of 6 on ADAPT and you will absolutely crush the MC section.

[ActuaryEveryday]

Originally Posted by man_risk

I have heard good things about TIA for this exam. I used TIA for MFE and generally liked it, but it took me too long to get through all of the videos.

I like to get the material in a very concise way, and then get to the review and practice step quickly. I used the Coaching Actuaries online manual for this exam, and it worked well for me, but I knew the style I was looking for. They have a free trial of the first 2 sections (about 20% of the material) if you want to see how it is set up. Where they are lacking though is the theory side, as it is all extremely concise. You will need to find other ways to bulk up on the theory side. I did by practicing all released WA questions, which I think worked well, though I wish I started it sooner (like a month before exam day). Maybe TIA would be better in this regard.

I always recommend ADAPT, and for this one it is no different. Get to an EL of 6 on ADAPT and you will absolutely crush the MC section.

Thanks! That helps a lot

[Master_of_my_domain]

Originally Posted by Art_Vandelay

you could also start modules if you feel like you'd be rushing it, and sit for LTAM in April. i'm not sure what your work schedule is like, though. i have QE these next couple of weeks and again in September so that will take up some of my study time.

Yea, I think the other part of the equation is that I have a very flexible work schedule right now. Just got back into Insurance after working in consulting for a few years. So, I definitely feel like I have a lot of opportunities to study and not quite the crazy busy work schedule I used to have.

We'll see how I feel after a brief break.