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  #71  
Old 07-17-2018, 09:49 AM
NchooseK NchooseK is offline
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Originally Posted by lcuandon View Post
Does anyone know why on God's green earth did the SOA decide to use new tables for this exam!? The Life table is new, and its also at 5% (prior table was at 6% interest) so doing old practice problems/exams will not be as easy/quick as ripping values off a table to use. This is so annoying
I have episodes of severe motor tics, so the introduction of the new tables over the clunky old ones was a delightful surprise to me. The new tables will probably save me 10-15 minutes of precious exam time.

CA's manual, ADAPT and I would imagine ASM offer problems that use i=6%. It is pretty impractical for them to change their question banks, especially on short notice. In CA's LTAM forum, I made a reasonable recommendation: Incorporate the new table format but keep i=6%. I offered to make these tables in exchange for a voucher. However, if I get enough interest on here, I would consider making the tables and posting them on AO. I already have the table data in spreadsheets.
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  #72  
Old 07-17-2018, 11:37 AM
Liar Liar is offline
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I don't agree with NChooseK.

For LTAM, at least, coachingactuaries is the best for "weaker" students, since they don't go into as much detail as the other study materials.

You must derive everything from first principal's if you use CA, but if you use something like TIA, you would just remember shortcuts.

For example, for percentile annuities and insurance, TIA gave a wishy-washy derivation and gave the u / (u+ d) formula for constant force, while CA expects you to derive Pr(T > h) from first principals.

TIA and ASM are good if you are able to make mathematical logical jumps given missing details, while CA is good if you're not as smart and can't see the answer immediately, and so you need first principals to solve everything.

Last edited by Liar; 07-17-2018 at 11:43 AM..
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  #73  
Old 07-17-2018, 01:03 PM
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Bama Gambler Bama Gambler is offline
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Quote:
Originally Posted by Liar View Post
You must derive everything from first principal's if you use CA, but if you use something like TIA, you would just remember shortcuts.

For example, for percentile annuities and insurance, TIA gave a wishy-washy derivation and gave the u / (u+ d) formula for constant force, while CA expects you to derive Pr(T > h) from first principals.

TIA and ASM are good if you are able to make mathematical logical jumps given missing details, while CA is good if you're not as smart and can't see the answer immediately, and so you need first principals to solve everything.
This just isn't true. I go into great detail deriving that mu/(mu + delta) formula. BTW that formula isn't for percentiles. The seminar has plenty of exercises that don't assume CF for percentile problems and I work all of these from first principles.

I show "shortcuts" if I believe they have the potential to save students time on exam day, but I also show how to do everything from first principles. Just because I make it look easy doesn't mean I'm not providing the details.

Here is a testimonial I just received from a student:
Quote:
Hi James -

I used TIA to prepare for Exam MLC this spring (2018) and made a 10.

This was my first time using video lectures/solutions and I was amazed at how it allowed me to learn the material both quicker and better than a written manual! I especially appreciated the way you explained things in a straightforward way that was consistent across lessons. This allowed me to make connections and helped make complicated topics easier to solve.

I used to agonize over written solutions trying to figure out what they were doing and how they got from one line to the next, but with you explaining it in the video, it was so much easier!

I am very grateful for your course and all the time you have put in recording the videos and how much you seem to care about your students' success.

Thanks again!
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Last edited by Bama Gambler; 07-17-2018 at 01:07 PM..
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  #74  
Old 07-17-2018, 01:12 PM
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For the record, the TIA product for LTAM has over 30 hours of video lecture. There are over 70 hours of video solutions to all published life contingency problems. In over 100 hours of video, I hope I cover more than a bunch of shortcuts.
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  #75  
Old 07-17-2018, 01:28 PM
Liar Liar is offline
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Yes, TIA works if you have a high IQ and can make logical jumps from missing information. Lower IQ students should resort to CA.

My coworkers are using TIA and they have problems approaching even the multiple choice problems.
I'm using CA, but even though my solutions aren't the neatest, i at least can solve the problems even if i don't know the shortcuts. My coworkers don't even know where to begin a problem, and that is due to them not really understanding the material.
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  #76  
Old 07-17-2018, 01:41 PM
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As an addendum, I feel like since TIA overloads you with shortcuts, lower IQ students may resort to memorizing and miss the "big picture", which is what my coworkers are going through.

This is different from CA's method, which minimizes shortcuts and focuses mainly on the big picture and first principals.

I am not endorsing which is the superior product. There are weaknesses in CA's approach as well, namely the potential to make little calculation mistakes. Their solutions are not as elegant as TIA's.

Last edited by Liar; 07-17-2018 at 01:50 PM..
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  #77  
Old 07-17-2018, 01:49 PM
Master_of_my_domain Master_of_my_domain is offline
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Quote:
Originally Posted by Liar View Post
As an addendum, I feel like since TIA overloads you with shortcuts, lower IQ students may resort to memorizing and miss the "big picture", which is what my coworkers are going through.

This is different from CA's method, which minimizes shortcuts and focuses mainly on the big picture and first principals.
Not to detract from the topic at hand, but the fact that you are using IQ as the metric for which study manual is better is a logical fallacy in and of itself. IQ is not a very meaningful measure to predict whether someone is successful and I think this is especially true for actuarial exams.

I guess, in my experience, I've never found any one study resource to be better/worse than the other. For example, I am using CA for LTAM right now and I like how concise it is but I actually disagree with you that it teaches you first principles -- it encourages you to understand the material more than shortcuts (as I am sure TIA does as well) but I also found the CA manual to be a little less rigorous from a pure math perspective than some of the sample solutions from the SOA as well as the source text material.

All that to say, I think that most of the study manuals are trying to do the same thing, which is to encourage you to learn first principles but some might be better with your learning style compared to others. CA is very good at visually teaching people first principles. That might be what you're trying to say but this doesn't mean people won't find TIA (or others) helpful.
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  #78  
Old 07-17-2018, 02:04 PM
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The fact that CA's material is more concise is the reason why it suits weaker students.

More material means less brainpower you can use for problem solving on the exam. By trimming the material down to the bare essentials, CA helps weaker students focus on problem solving and not trying to remember the 10th variation of a formula.
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  #79  
Old 07-17-2018, 02:14 PM
Master_of_my_domain Master_of_my_domain is offline
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I don't have access to TIA so can't speak to their materials but I agree that CA does make it easier to go through the material.

On the flip side, it's worried me a bit. In the past, I've relied on ASM for the other exams and it usually took me several weeks to get through learning the material and I struggled early on to understand concepts. BUT, that's also what helped during the practice phase. Struggling early on meant I didn't struggle on the practice exams as much.

But, blitzing through the material with CA makes me curious if any of it is actually sticking in my head. Anyway, I'll be curious to report back on this later in the study season but it's something I've been thinking about.
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  #80  
Old 07-17-2018, 02:17 PM
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Have you done ADAPT quizzes? I do 10-question quizzes after each section.
I'm on premiums right now.

So far, there wasn't a single problem I didn't know how to solve. I make a silly calculation mistake on my quizzes and end up with a 9, but I at least know how to solve every problem.

Now, my ASM and TIA friends & coworkers on the other hand...

We decided to study together once and I was a bit afraid when I saw them solve problems in ways I haven't seen, but every single time, they say "Wait, was it this formula or that formula"?
I got all the questions right in our get together sessions, while they got almost everything wrong.

Last edited by Liar; 07-17-2018 at 02:20 PM..
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