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Long-Term Actuarial Math Old Exam MLC Forum

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  #21  
Old 01-20-2020, 11:15 PM
OGreign OGreign is offline
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Originally Posted by blacktuarial View Post
Joining in on the fun! Good luck to everyone...any tips from those who have taken the exam?
I passed last sitting after failing spring 2019. If you are already purchasing CA make sure to take advantage of their one time WA grading, they give you some valuable feedback.

You only need 10-12 correct multiple choice to get your WA graded. Any MC question that I wasn't confident I could answer within 4 minutes I skipped. Total time split for the exam was 50 minutes MC and the rest of the time on WA. I was writing until time was called and still had one subsection blank. I ended up getting an 8.
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  #22  
Old 01-20-2020, 11:24 PM
Colonel Moran Colonel Moran is offline
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Chance of zeroized reserves showing up on the exam?
I can't resist: zeroized reserves? zero

Do not take that as serious advice. It's a zeroized response, of zero value.
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  #23  
Old 01-21-2020, 09:31 AM
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LocustStreetBlues LocustStreetBlues is offline
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Originally Posted by OGreign View Post
I passed last sitting after failing spring 2019. If you are already purchasing CA make sure to take advantage of their one time WA grading, they give you some valuable feedback.

You only need 10-12 correct multiple choice to get your WA graded. Any MC question that I wasn't confident I could answer within 4 minutes I skipped. Total time split for the exam was 50 minutes MC and the rest of the time on WA. I was writing until time was called and still had one subsection blank. I ended up getting an 8.
It does seem like this exam rewards working quickly more than any other exam I've taken so far. I've been looking at past exams and it seems to rely on the candidate identifying the shortcut quickly. The questions don't seem to be overly difficult or trying to trick you, but they are trying to test how clever you are.
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  #24  
Old 01-22-2020, 08:18 AM
autobot autobot is offline
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What's the best way to keep up with all the notation? This is my first attempt and I'm struggling to keep track of all the new letters and symbols.

Also, how is everyone feeling about this? I'm about 50% through the TIA material and feeling pretty confused overall.
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  #25  
Old 01-22-2020, 09:47 AM
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LocustStreetBlues LocustStreetBlues is offline
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Originally Posted by autobot View Post
What's the best way to keep up with all the notation? This is my first attempt and I'm struggling to keep track of all the new letters and symbols.

Also, how is everyone feeling about this? I'm about 50% through the TIA material and feeling pretty confused overall.
Something at that works for me is writing out the notation, and pointing to each part of it as I say aloud what it means. For example, I could write 10|Ax. Then I'll say "A discrete whole life insurance, on a person aged x, deferred for 10 years." And while I say that, I'll point to the A, the x, and the 10|. It helps me assign meaning to the notation a bit better and that works better for my memory.

I gave myself 6 weeks to get through all the material for the first time and 7 weeks for review and practice exams. I'm on schedule so far, so hopefully I can keep it that way.
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  #26  
Old 01-23-2020, 10:17 AM
jare1786 jare1786 is offline
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Originally Posted by unspokentruth View Post
Hey guys, I've been planning to sit for the April LTAM exam but when I go onto SOA's website the online registration is closed even though the registration deadline says 23 March 2020. Just wanted to confirm is the online registration not opened yet? If so, does anyone know when will it open for registration?

Thanks in advance!
I just checked registration this morning, and it is open now. Good luck, everyone!
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  #27  
Old 01-25-2020, 08:05 PM
BelayMeMaybe BelayMeMaybe is offline
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Into Section 11 of Coaching Actuaries' videos (Pensions) but my progress is slowing down. Work has gotten crazy and it's starting to become difficult to get my study hours in. If I can just complete the last 2 sections before the end of February I'll be happy.

I really appreciate how well this exam builds on itself as opposed STAM.

The organization of CA's material also nice because the last few sections have touched on earlier topics that I was starting to forget. For instance, Multiple Decrements gets revisisted during Long Term Care Insurance, life tables gets revisited during multiple lives etc. Maybe that's a natural outcome from the exam syllabus and not unique to CA, but it was helpful to review these topics again in a slightly different application.
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  #28  
Old 01-26-2020, 03:00 PM
LadyFingers LadyFingers is offline
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I’m retaking: one piece of advice at the get go: ignore anyone who says you just need to score a 4-5 on CA to pass. I had about 6.15, and there was no way I was prepared enough to pass.

I failed in the Fall with a 5. Call me delusional if you want, but I actually feel good about it. I sat for it three months after sitting for IFM (Jul 13 to Oct 25), so v little time + no break. But also, those three months exactly overlapped with the first 3 months of my first actuarial job; a simultaneous, steep learning curve. I am proud of my grit. But now it’s time to pass.

My plan of attack in case it’s useful to any of you, my LTAM sisters and brothers:
1) First I did all the CA end of section review problems to refresh.
2) Now I will drill WA problems. Use the CA written answer problems first, because they have good solutions. Next attack historical exams (LTAM and whatever came first).

This exam is meant to weed people out who aren't willing to study as hard as is needed to pass -- and to keep trying after failure. But my guess is that most of us here don't fall into that camp. We care enough to seek out support and feedback, and to be honest.

Fall 2019 was a brutal sitting. The head of the actuarial student program at my firm (a huge employer of student actuaries) said that she was celebrating 2s. Apparently a lot of people just weren't sufficiently prepared for that level of difficulty despite a lot of honest work.

The day after the sitting I googled "how to bounce back from failure" because I felt gutted. I read a couple good things, but one stuck with me. It said (paraphrasing) 'Don't buy into the idea that you are incapable. Adopt a mindset of optimism and persistence and refuse to give up.'

Last edited by LadyFingers; 01-27-2020 at 12:07 PM..
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  #29  
Old 01-31-2020, 03:05 PM
sukkev08 sukkev08 is offline
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Originally Posted by LadyFingers View Post
Fall 2019 was a brutal sitting. The head of the actuarial student program at my firm (a huge employer of student actuaries) said that she was celebrating 2s. Apparently a lot of people just weren't sufficiently prepared for that level of difficulty despite a lot of honest work.
My company, also a huge national wide employer of student actuaries, also had only two passed LTAM in Fall 2019 sitting including myself. No idea how many students attempted though.

If I remember correctly, actual MC questions were about LV 5 difficulty in terms of ADAPT language. First run though the MC portion, I answered only 8 questions semi-confidently. Second round, I answered additional 6 questions. Rest? blind guessed them. I ended up spending more than 2 hours on MC portion whereas I had planned to spend an hour and 40 min.

WA portion was worse. With less than 2 hours left, I started from a question with the most points. I was running out of time. There was one question that I knew how to solve, but not much time left. I wrote down my approach (like how I would solve this problem) for each of sub-questions and filled in some detail as much as I could. Even with this, I ended up leaving one entire question blank - one with the least points. so, my piece of advice is PLEASE practice lots, lots, lots of WA questions and get yourself used to with managing time. I would say LTAM is a completely different exam than other preliminary exams. Memorizing shortcut formula, putting numbers into them, and coming up with answers will never be a case for this exam.
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  #30  
Old 01-31-2020, 03:52 PM
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LocustStreetBlues LocustStreetBlues is offline
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I'm starting to feel like giving myself 3 and a half months still won't be enough. It's so tough to come back from the holidays and start grinding. I'm about halfway through the manual and I feel like I'm working at a good pace, but I am really going to need to work on my speed if I ever plan to have a chance at passing. I always work through every question at the end of the CA sections, and I usually do okay without relying on my formula sheet too much, but I'm still super slow.
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