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 Long-Term Actuarial Math Old Exam MLC Forum

#1
03-08-2018, 10:56 AM
 colt484 SOA Join Date: Aug 2014 Posts: 16

Written question one from the spring 2017 exam asks you to calculate a probability and round to the nearest .01, however, the answer they provide rounds to the nearest .0001. They then use this solution to answer the next question.

If a question asks you to round to a specific place or decimal place should you not follow that and use that solution for the remainder of the problem, or is this not weighted that heavily in the grading?
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Exam: P FM MFE C MLC PA
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FAP Course: 1 2 3 4 IA
6 7 FA
#2
04-12-2018, 08:34 PM
 NchooseK Member SOA Join Date: Nov 2012 Location: Philly area Studying for PA, LTAM, FA (FAP) College: Swarthmore College (BA Mathematics), Villanova University (MS Applied Stat) Favorite beer: I don't drink beer, but I love the Dos Equis commercials. Posts: 285

While I appreciate what I expect to be great grading leniency toward varying rounding techniques, it would be nice if the SOA demonstrated any consistency in their written solutions to past exams.

There are some WA questions whose final solutions are VERY sensitive to rounding, and then I have to go back to make sure I'm not stupid or something.
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#3
04-16-2018, 02:45 PM
 colt484 SOA Join Date: Aug 2014 Posts: 16

Quote:
 Originally Posted by NchooseK While I appreciate what I expect to be great grading leniency toward varying rounding techniques, it would be nice if the SOA demonstrated any consistency in their written solutions to past exams. There are some WA questions whose final solutions are VERY sensitive to rounding, and then I have to go back to make sure I'm not stupid or something.
Yeah, it would be nice to get a better understand on what would be accepting rounding, especially since the solutions on past exams are in no way consistent.

My only concern, as I stated, was more so with problems that tell you to round to a particular place. Would they then not want you to use that rounding solution when solving the rest of the problem? The solutions online don't point to any particular direction.
__________________
Exam: P FM MFE C MLC PA
VEE: Applied Statistics Economics Corporate Finance
FAP Course: 1 2 3 4 IA
6 7 FA