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Life Finance and Valuation Exam Old Individual Life and Annuities Forum

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  #61  
Old 02-12-2019, 10:59 AM
be the good guy be the good guy is offline
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The section on determining margins seem so .... broad. I feel like someone could ramble on for an exam question on this and get some good partial credit! :P
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  #62  
Old 02-12-2019, 12:38 PM
Canadiens Fan Canadiens Fan is offline
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Originally Posted by E View Post
Quick tip: try to write key words or the gist of each paragraph out in the margin as you read -- paraphrasing in your own words. I do this when reading all technical papers. It helps me stay engaged and also surfaces more key points. Also lets me avoid having to slog back through bloated paragraphs later when I reference the paper.

Basically, make it a game where you're trying to decode what the author is saying into simpler terms. This will actually serve you well in the actuarial field forever.
Thanks, I'm taking notes in the DSM while reading the source material, and most of the key words are in the DSM. I've mostly been adding context and examples as my own notes. Going forward I'll try to identify key words on my own.
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  #63  
Old 02-12-2019, 01:03 PM
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Quote:
Originally Posted by Canadiens Fan View Post
Thanks, I'm taking notes in the DSM while reading the source material, and most of the key words are in the DSM. I've mostly been adding context and examples as my own notes. Going forward I'll try to identify key words on my own.
That's great! You can do the same in our detailed study manual too -- or really anywhere. I think the more you can move your hand and just log a trail of mental notes, the better off you are. It definitely increases what your mind retains to take notes like that. The more you can physically write by hand, the more in-shape it will be on exam day as well.
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  #64  
Old 02-12-2019, 02:34 PM
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Lord Vader Lord Vader is offline
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Originally Posted by Canadiens Fan View Post
Old exam problems as in just LFV? Or would you recommend doing CSP ones, too?
I wouldn't go CSP until you have completed all of the LFV questions (if you make it that far). Past exam problems will give you a better feel for how questions might be structured and let you know what the writers felt was important from each reading. Eventually, you might start to sense a broader theme in the exam. Hard to explain...

The more recent the question, the better use you can make of it. There were three or four questions on the last sitting that "felt a little familiar" from looking at past exams. A little bit of familiarity on exam day goes a long way.
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  #65  
Old 02-17-2019, 04:40 PM
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@E After taking a brief look at the Analysis of Past Exams file, I feel a bit perplexed. I noticed quite a few questions were marked off as not relevant but yet after going through the videos, I feel like they are still relevant.

Spring 2015 (#8c): SOP 05-1
Isn't this topic on replacements still relevant?

Fall 2015 (#3): Small Life Insurance Company Deduction
Isn't this also still relevant?

Just named a few but there were many more. Also, are RBC calculations now outside the scope of this exam?
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  #66  
Old 02-18-2019, 08:58 AM
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@E After taking a brief look at the Analysis of Past Exams file, I feel a bit perplexed. I noticed quite a few questions were marked off as not relevant but yet after going through the videos, I feel like they are still relevant.
Hi polar09,

As I said earlier, I try to help you avoid questions that are not a good use of your study time. There are over 450 relevant sub-questions (about 80 total hours of problems) still on syllabus, so there is plenty to practice with! You are welcome to work any and all problems you come across, however.

Quote:

Spring 2015 (#8c): SOP 05-1
Isn't this topic on replacements still relevant?
There used to be an article on SOP 05-1 that is no longer on syllabus. You are welcome to work it, but the solution may contain things that are not in the current syllabus readings. When that happens, it tends to eat up people's study time and cause confusion trying to figure out why their answer doesn't match the solution, so I tend to drop questions in these situations.

Quote:

Fall 2015 (#3): Small Life Insurance Company Deduction
Isn't this also still relevant?
I marked this one off syllabus because the question is flawed in terms of how it tests the current syllabus. It requires knowledge of how to calculate DAC tax at a level that is not covered on the syllabus. See this thread in our forum for more info:

https://www.theinfiniteactuary.com/m...=30968&t=34671

Quote:

Just named a few but there were many more. Also, are RBC calculations now outside the scope of this exam?
Pretty much. RBC calculations were covered in detail in the old VLIL book (Ch. 16). None of the volume 1 chapters of the new SVILAC book cover RBC calculations.

If you have questions about any other specific problems, please check our forums. There are over 1400 existing posts there just on past exam problems, so it's likely someone else has already asked or answered your question.
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  #67  
Old 02-24-2019, 03:29 PM
Arms91 Arms91 is offline
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Finally finished printing/punching out all the TIA flashcards. I was pleasantly surprised the total count is less than LP. That should mean LFV is easier right?
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  #68  
Old 02-25-2019, 09:23 AM
be the good guy be the good guy is offline
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Feeling pretty far behind... only through some of GAAP right now.
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  #69  
Old 03-02-2019, 12:15 PM
ImaginarialActuary ImaginarialActuary is offline
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Originally Posted by be the good guy View Post
Feeling pretty far behind... only through some of GAAP right now.
Same here. I spent almost 2 months in Section A. It's hard for me to follow the DSM while watching the videos since they have different orders. I think I had forgotten most of the details when I started section B, so I decided not to read DSM but only study the slides and videos. Anybody used similar approach and passed? There must be some trade-off (at least for me) among flashcards, past exam problems, DSM, and videos/slides. Any suggestions would be greatly appreciated!
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  #70  
Old 03-08-2019, 12:43 PM
ImaginarialActuary ImaginarialActuary is offline
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Can anybody help clarify my question below?
In LFV -136, DistrEarn = AfterTaxSolvEarn - IncreaseInRC + AfterTaxInvestIncomeOnRC.
However, in "Embedded Value Practice and Theory", DistrEarn = AfterTaxStatIncome - IncreaseInRC.

Does that mean StatIncome = SolvencyEarning + InvestIncomeOnRC ?
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