Actuarial Outpost October 2018 Exam STAM Thread
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 Short-Term Actuarial Math Old Exam C Forum

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#71
09-23-2018, 05:52 PM
 BelayMeMaybe Member SOA Join Date: Feb 2017 College: University of Louisville Alumni Posts: 56
SOA STAM Sample Question # 323

Could this question be worded any more poorly?

It's really simple once you understand what the question is asking - obviously the SOA has decided to implicitly test a candidate's ability to parse legalese.

The following developed losses evaluated at various maximum loss sizes are given:
• The total losses limited at 50,000 from all policies with a policy limit of 50,000 or
more is 22,000,000.
• The total losses limited at 50,000 from all policies with a policy limit of 250,000
or more is 14,000,000.
• The total losses limited at 250,000 from all policies with a policy limit of 250,000
or more is 25,000,000.
The base rate at the 50,000 basic limit is 300 per exposure unit, consisting of 240 pure
premium, 30 fixed expense, and 30 variable expense.
Calculate the rate at the 250,000 limit.
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#72
09-23-2018, 06:28 PM
 SweepingRocks Member SOA Join Date: Jun 2017 College: Bentley University (Class of 2019ish) Posts: 169

Quote:
 Originally Posted by KD24 How is everyone's studying coming along? What source are you using (CA, TIA, Mahler, SOA 326, etc)? What's everyone's EL in ADAPT so far? The nerves are kicking in for me.
I feel like I've got all the basics down, but I'm still tripping up on more advanced problems.

My EL is 5.6
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"I think you should refrain from quoting yourself. It sounds pompous." - SweepingRocks
#73
09-23-2018, 11:35 PM
 ashleymarp Member SOA Join Date: May 2016 College: UCSD Alumni Posts: 81

Quote:
 Originally Posted by BelayMeMaybe Could this question be worded any more poorly? It's really simple once you understand what the question is asking - obviously the SOA has decided to implicitly test a candidate's ability to parse legalese. The following developed losses evaluated at various maximum loss sizes are given: • The total losses limited at 50,000 from all policies with a policy limit of 50,000 or more is 22,000,000. • The total losses limited at 50,000 from all policies with a policy limit of 250,000 or more is 14,000,000. • The total losses limited at 250,000 from all policies with a policy limit of 250,000 or more is 25,000,000. The base rate at the 50,000 basic limit is 300 per exposure unit, consisting of 240 pure premium, 30 fixed expense, and 30 variable expense. Calculate the rate at the 250,000 limit.
I saw this on ADAPT. I believe it was a level 2 question
#74
09-23-2018, 11:43 PM
 ashleymarp Member SOA Join Date: May 2016 College: UCSD Alumni Posts: 81

Quote:
 Originally Posted by KD24 How is everyone's studying coming along? What source are you using (CA, TIA, Mahler, SOA 326, etc)? What's everyone's EL in ADAPT so far? The nerves are kicking in for me.
Using TIA and ADAPT.
Level 3, after 3 practice exams. Not happy about it. But still going to power through these next couple of weeks by taking endless practice exams with the support of several bowls of ice cream Hby?
#75
09-24-2018, 12:27 AM
 Jim Daniel Member SOA Join Date: Jan 2002 Location: Davis, CA College: Wabash College B.A. 1962, Stanford Ph.D. 1965 Posts: 2,719

Quote:
 Originally Posted by BelayMeMaybe Could this question be worded any more poorly?
Yes, unfortunately.
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#76
09-24-2018, 09:16 AM
 ActuariallyDecentAtBest Member SOA Join Date: Dec 2016 Posts: 260

Quote:
 Originally Posted by BelayMeMaybe Could this question be worded any more poorly? It's really simple once you understand what the question is asking - obviously the SOA has decided to implicitly test a candidate's ability to parse legalese. The following developed losses evaluated at various maximum loss sizes are given: • The total losses limited at 50,000 from all policies with a policy limit of 50,000 or more is 22,000,000. • The total losses limited at 50,000 from all policies with a policy limit of 250,000 or more is 14,000,000. • The total losses limited at 250,000 from all policies with a policy limit of 250,000 or more is 25,000,000. The base rate at the 50,000 basic limit is 300 per exposure unit, consisting of 240 pure premium, 30 fixed expense, and 30 variable expense. Calculate the rate at the 250,000 limit.
I really dislike that question
#77
09-24-2018, 04:05 PM
 ch1rontl34 Member Join Date: May 2008 Posts: 149

Quote:
 Originally Posted by SweepingRocks I feel like I've got all the basics down, but I'm still tripping up on more advanced problems. My EL is 5.6
I'm stuck at an earned level of 4 using ADAPT. I need to improve my semiparametric and nonparametric credibility abilities. I also have some weak spots in ratemarking, mostly with relativities.
#78
09-24-2018, 08:32 PM
 SweepingRocks Member SOA Join Date: Jun 2017 College: Bentley University (Class of 2019ish) Posts: 169

Quote:
 Originally Posted by ch1rontl34 I'm stuck at an earned level of 4 using ADAPT. I need to improve my semiparametric and nonparametric credibility abilities. I also have some weak spots in ratemarking, mostly with relativities.
Funny, I was in that EXACT situation before last weekend. I've purely been using coaching actuaries for studying and their stam review videos for those subjects helped immensely.
__________________
FM P MFE STAM LTAM Modules: 1 2 3 4 [Pending Grade] IA [Pending Grade]

Former Disney World Cast Member, currently no idea what I'm doing

"I think you should refrain from quoting yourself. It sounds pompous." - SweepingRocks
#79
09-25-2018, 11:39 AM
 ActuariallyDecentAtBest Member SOA Join Date: Dec 2016 Posts: 260

Quote:
 Originally Posted by SweepingRocks Funny, I was in that EXACT situation before last weekend. I've purely been using coaching actuaries for studying and their stam review videos for those subjects helped immensely.
I really wish they were bundled with ADAPT...
#80
09-25-2018, 10:55 PM
 SunnyDale SOA Join Date: Jul 2018 Posts: 20

I’m working on Problem 30 on Practice Exam 3 if ASM manual.

Claim counts follow a Poisson distribution.85 policy holders submitted 0 claims. The exact amount of claims submitted for 15 policyhers is unknown, but may be either 1 or 2. Information for policyholders submitting more than 2 claims is unavailable. Calculate the MLE of the probability that a policyholder will sum it exactly 1 claim.

In the solution, it says that the fitted probability of 1 or 2 must equal 15/85 of the fitted probability of 0.

Would anyone please help me understand where is the 15/85 coming from?

Thanks!

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