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 Short-Term Actuarial Math Old Exam C Forum

#121
10-10-2018, 10:52 PM
 RockOn Member SOA Join Date: Dec 2013 Studying for Exam C Favorite beer: Polygamy Porter Posts: 83

Hello!

Can someone help me understand how exam C will be graded if there are, say, 3 pilot questions that will be thrown out?

For example, if the pass score is normally, say 60% (ie 21 questions) and for this sitting say 3 questions will be pilot questions and are thrown out. Does that mean that the pass score is still 21 questions or would it be 19 questions?

Thank you.
__________________
EXAMS: P | FM | MFE | MLC | STAM | PA |
VEE: ECON | STATS | CORP FINANCE |
FAP: MOD 1| MOD 2| MOD 3| MOD 4| MOD 5| IA| MOD 6| MOD 7| MOD 8| FA |
#122
10-10-2018, 11:17 PM
 Gandalf Site Supporter Site Supporter SOA Join Date: Nov 2001 Location: Middle Earth Posts: 31,301

Quote:
 Originally Posted by RockOn Hello! Can someone help me understand how exam C will be graded if there are, say, 3 pilot questions that will be thrown out? For example, if the pass score is normally, say 60% (ie 21 questions) and for this sitting say 3 questions will be pilot questions and are thrown out. Does that mean that the pass score is still 21 questions or would it be 19 questions? Thank you.
Your assumption that 60% means 21 questions assumes there are normally 0 pilot questions. That's false. It may well be true that normally the average score needed to pass is 60% of the non-pilot questions, but for every candidate, that candidate's minimum passing score depends on the difficulty of his particular non-pilot questions. If A and B each get 30 non-pilot questions, but A's 30 are more difficult, A may need only 17 right to pass while B needs 19 right to pass. Numbers are purely illustrative. We don't even know if all candidates get the same number of pilot questions, or how much the average difficulty of a set of questions varies among candidates. The SOA has said that the pass mark is not the same for everyone in a given exam window.
#123
10-10-2018, 11:25 PM
 RockOn Member SOA Join Date: Dec 2013 Studying for Exam C Favorite beer: Polygamy Porter Posts: 83

Quote:
 Originally Posted by Gandalf Your assumption that 60% means 21 questions assumes there are normally 0 pilot questions. That's false. It may well be true that normally the average score needed to pass is 60% of the non-pilot questions, but for every candidate, that candidate's minimum passing score depends on the difficulty of his particular non-pilot questions. If A and B each get 30 non-pilot questions, but A's 30 are more difficult, A may need only 17 right to pass while B needs 19 right to pass. Numbers are purely illustrative. We don't even know if all candidates get the same number of pilot questions, or how much the average difficulty of a set of questions varies among candidates. The SOA has said that the pass mark is not the same for everyone in a given exam window.
Got it, Gandalf.
Thank you for that explanation!
__________________
EXAMS: P | FM | MFE | MLC | STAM | PA |
VEE: ECON | STATS | CORP FINANCE |
FAP: MOD 1| MOD 2| MOD 3| MOD 4| MOD 5| IA| MOD 6| MOD 7| MOD 8| FA |
#124
10-11-2018, 01:14 AM
 RockOn Member SOA Join Date: Dec 2013 Studying for Exam C Favorite beer: Polygamy Porter Posts: 83

Quote:
 Originally Posted by Gandalf Your assumption that 60% means 21 questions assumes there are normally 0 pilot questions. That's false. It may well be true that normally the average score needed to pass is 60% of the non-pilot questions, but for every candidate, that candidate's minimum passing score depends on the difficulty of his particular non-pilot questions. If A and B each get 30 non-pilot questions, but A's 30 are more difficult, A may need only 17 right to pass while B needs 19 right to pass. Numbers are purely illustrative. We don't even know if all candidates get the same number of pilot questions, or how much the average difficulty of a set of questions varies among candidates. The SOA has said that the pass mark is not the same for everyone in a given exam window.
..So just that I am clear on this - has the SOA indicated what the range of pass marks is? For example, are the pass marks really somewhere in the range of 17 to 19 questions correct? Or would be a low as 15 and as high as 23?

...not that I'm obsessing over this...
__________________
EXAMS: P | FM | MFE | MLC | STAM | PA |
VEE: ECON | STATS | CORP FINANCE |
FAP: MOD 1| MOD 2| MOD 3| MOD 4| MOD 5| IA| MOD 6| MOD 7| MOD 8| FA |
#125
10-11-2018, 08:34 AM
 Gandalf Site Supporter Site Supporter SOA Join Date: Nov 2001 Location: Middle Earth Posts: 31,301

Quote:
 Originally Posted by RockOn ..So just that I am clear on this - has the SOA indicated what the range of pass marks is? For example, are the pass marks really somewhere in the range of 17 to 19 questions correct? Or would be a low as 15 and as high as 23? ...not that I'm obsessing over this...
They are clear it is not a single number. For example for C for February 2018 they said here https://www.soa.org/Files/Exam-Resul...nts-weL644.pdf

Quote:
 Examination C is administered using computer-based testing (CBT). Under CBT, it is not possible to schedule everyone to take the examination at the same time. As a result, each administration consists of multiple versions of the examination given over a period of several days. The examinations are constructed and scored using Item Response Theory (IRT). Under IRT, each operational item that appears on an examination has been calibrated for difficulty and other test statistics and the pass mark for each examination is determined before the examination is given. All versions of the examination are constructed to be of comparable difficulty to one another. For the February 2018 administration of Examination C, an average of 67% correct was needed to pass the exam.
No one knows exactly how that applies to this session of STAM, which is not instant pass fail, but it is likely relevant since the exam is not instant pass fail and is CBT. I'm not sure whether they have said if everyone gets exactly the same questions this time, but that would be reckless IMO in a CBT situation.

That doesn't say whether 67% applies to all questions or to non-pilot questions. I think it only makes sense if it applies to non-pilot questions but I don't know if they have ever said. Someone else might know if there has been a statement to that effect. I don't believe I've ever seen a range of required passing scores or any other measure how much difficulty can vary from candidate to candidate. You could get some idea of how the average passing percentage varies from session to session here https://www.soa.org/education/exams/...ts-detail.aspx and https://www.soa.org/education/genera...s-archive.aspx You would see that the average in June was also 67%, suggesting that the average question difficulty was the same in February and June. You would see some different ratios in earlier administrations, which would tend to indicate that the average question used then was a little easier or harder (but some would say instead that the SOA intentionally wanted to pass more or fewer candidates). None of those would tell you anything about how the average difficulty varies among candidates in a single session.
#126
10-11-2018, 12:31 PM
 RockOn Member SOA Join Date: Dec 2013 Studying for Exam C Favorite beer: Polygamy Porter Posts: 83

Quote:
 Originally Posted by Gandalf They are clear it is not a single number. For example for C for February 2018 they said here https://www.soa.org/Files/Exam-Resul...nts-weL644.pdf No one knows exactly how that applies to this session of STAM, which is not instant pass fail, but it is likely relevant since the exam is not instant pass fail and is CBT. I'm not sure whether they have said if everyone gets exactly the same questions this time, but that would be reckless IMO in a CBT situation. That doesn't say whether 67% applies to all questions or to non-pilot questions. I think it only makes sense if it applies to non-pilot questions but I don't know if they have ever said. Someone else might know if there has been a statement to that effect. I don't believe I've ever seen a range of required passing scores or any other measure how much difficulty can vary from candidate to candidate. You could get some idea of how the average passing percentage varies from session to session here https://www.soa.org/education/exams/...ts-detail.aspx and https://www.soa.org/education/genera...s-archive.aspx You would see that the average in June was also 67%, suggesting that the average question difficulty was the same in February and June. You would see some different ratios in earlier administrations, which would tend to indicate that the average question used then was a little easier or harder (but some would say instead that the SOA intentionally wanted to pass more or fewer candidates). None of those would tell you anything about how the average difficulty varies among candidates in a single session.
67%!? WT*?
I sat for C in June 2018 and got a 5. I sat for STAM yesterday and I'm praying for a six. 67% would leave little room for error on my performance yesterday. *sigh* Hoping I'm not sitting for this again in February.

Wishing the best to everyone.
__________________
EXAMS: P | FM | MFE | MLC | STAM | PA |
VEE: ECON | STATS | CORP FINANCE |
FAP: MOD 1| MOD 2| MOD 3| MOD 4| MOD 5| IA| MOD 6| MOD 7| MOD 8| FA |
#127
10-17-2018, 08:42 AM
 ReturnStudent Member SOA Join Date: Dec 2015 Location: Chicago Studying for PA College: UNL Alumni Posts: 204

Has the result been out? Thanks
#128
10-17-2018, 09:07 AM
 ActuariallyDecentAtBest Member SOA Join Date: Dec 2016 Posts: 262

Quote:
 Originally Posted by ReturnStudent Has the result been out? Thanks
#129
10-22-2018, 07:30 PM
 CaribbeanActuary SOA Join Date: Jan 2018 Posts: 6

For those of you that used the ASM manual to study, I would like your advice: Did you aim to complete every single one of the exercises? Or did you do a limited number of questions from each exercise? If the latter, what was your general rule of thumb for how many questions you did from each exercise?

Also, how did you use the Supplementary Questions Sections? Did you complete these too?
#130
11-01-2018, 04:15 PM
 ActuariallyDecentAtBest Member SOA Join Date: Dec 2016 Posts: 262

A little baffled as to why the SOA hasn't released the Exam Results date....why would they wait until around the time LTAM and the FSA exams are happening? I know they said 8 week, but would've been nice if they released a date a week after the exam.