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  #31  
Old 01-22-2019, 11:54 PM
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Joining in on the SDM fun for Spring 2019. Very impressed/nervous that some of you have already read all of the material, I just ordered my books today and will be getting started once they arrive.

Hoping that we can have an active thread, CFE Fall 2018 was lacking a bit.

Best of luck to all!
I've always wanted to study this more, but each exam has a different feel to it. Sometimes SDM students love to email while ERM students like the PAK Forum, sometimes CFE students just want to PM. Then the next sitting, everything is reversed. It's basically a random number generator

My advice - be the change you want to see in the world! If this forum is active, it draws in more users, and becomes more active, and draws in more users, and the cycle goes on.
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  #32  
Old 01-23-2019, 03:01 PM
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All that said, of course, I do agree with you, some sections in our readings are nearly eye-roll-inducing. But, that's because this isn't really written for us, and the SOA is trying to force us out of our comfort zones
I'm slowly getting over how atrocious this text is (expecting to have the wound reopened by Strategic Management). Still can't believe the writing is meant for any human. The way it manages to say nothing of substance at 8th-grade-first-draft level writing while also following no logical order makes it outright hostile to human understanding. How this book made it to the first edition, much less the FIFTH, is astounding. Appreciate the support from everyone here though. I'll grit my teeth and march onwards for my last exam! (And probably write an unhappy letter to the SOA afterwards)
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  #33  
Old 01-23-2019, 09:17 PM
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If you think that one was bad wait until you're four or five chapters into Strategic Management. The editing is better but it continues the trend of using a lot of words to say very little. I finished reading the Section 1 texts and it seems like 300 pages of fluff.

For those of you who have already read the section 1 study notes - how do you think they will test the two MIT case studies?
Don't sleep on section 1 - it'll likely provide the framework necessary to contextualize your answers on the exam. This section is honestly the basis of the exam from what I can tell.

As for the MIT case studies, I'm anticipating the Corning case will be applied to one of the companies in the case study directly (e.g. we walk-through a recommendation to create a Growth & Technology Council like entity at Frenz Coffee and explain how it can be used to improve decision-making/reduce decision bias there as well). I should also add the Corning case makes a compelling argument for the Resource-Based model discussed in Strategic Management Chapter 1. Corning recognized how to use their resources to form capabilities and competitive advantages. Corning then used their competitive advantages in industries in which they could make above-average returns.

The PPS case study is likely to be tested in a more roundabout/indirect way. The PPS case study illustrates how we must consider the external and internal environments before acting/making a decision (e.g. Chinese government regulation was a major concern in the PPS case, as was the existing capabilities of similar competitors). Although the PPS case study leaves us on a cliff-hanger, the next step would be to make a recommendation for a certain course of action - this is begging for a connection to either Section 2 (Managerial Accounting) and Section 4 (Decision Analysis - particularly decision trees!).

That said, I'm a first-time taker so you should take everything I say with a grain salt.
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  #34  
Old 01-24-2019, 02:46 PM
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What's the general understanding for when the SOA marks a reading as "Background"?
Under objective 2, both AFDMAC Ch 1 and 2 are marked as "Background". Do you guys treat these readings any differently?
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  #35  
Old 01-24-2019, 06:12 PM
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For background readings, you can treat them as:
- don't need to memorize in great detail
- but be familiar with the terms and concepts introduced - you could be expected to know what those terms and concepts are in an exam questions

For example, you should be pretty comfortable with things like period, product, marginal, and fixed costs as possible questions could make reference to those. (However, many of these terms are used frequently in future chapters ... so you will have to be comfortable with them anyways to get through those chapters.)

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Using anything less is clearly a very poor strategic decision
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  #36  
Old 01-25-2019, 11:27 PM
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Agreed, and let me add one quick, slightly cynical comment. The SOA shouldn't make questions based on the background material. And, for a couple of years now, they haven't.

But.......it has happened in the past where a question has relied directly on the background readings. And, as far as I know, the let it count. So, that is another reason you should at least be familiar with these readings, as a form of risk management in case the SOA pulls a fast one on us


(I will say, I do NOT expect this to happen again. But, you know, crazy things happen)
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  #37  
Old 02-01-2019, 08:04 PM
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Friday night studying...woo...

The afterparty is programming in Python.

IN OTHER NEWS - someone made a cool Shiny app for stochastic reserving in the Exam 7 thread...puts the bare bones one I made for the Conley Fishery example to shame...I'll bop'em back post-exam.
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Last edited by 110PercentWahoo; 02-11-2019 at 07:40 AM.. Reason: My Shiny app got one upped in the Exam 7 thread
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  #38  
Old 02-10-2019, 08:26 PM
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This cost accounting material is killing me
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  #39  
Old 02-11-2019, 12:40 AM
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Originally Posted by 110PercentWahoo View Post
Friday night studying...woo...

The afterparty is programming in Python.

IN OTHER NEWS - someone made a cool Shiny app for stochastic reserving in the Exam 7 thread...puts my bare bones one I made for the Conley Fishery example to shame...I'll bop'em back post-exam.
That...certainly is a lot of words. Don't you kids program in QBASIC anymore?!
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  #40  
Old 02-11-2019, 12:43 AM
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This cost accounting material is killing me
The SOA wants us to be accountants (and bankers) sooooo bad.

But, trust me, ADMC is much better than the prior cost accounting material we had (SDM-100, which was bad news in my opinion).
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