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  #11  
Old 08-02-2012, 05:23 PM
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Originally Posted by PadawanOKC View Post
I don't think task 1 was my sole reason for not passing, so you may not have to worry.
I have nothing to base this on, just my opinion, but I don't think you can fail an entire paper for missing one thing on one task.

I like to think they grade based on some kind of "point" system...i.e. you get a certain number of points if you mention a, b, and c...and if you don't have all of that, you get fewer points. Maybe you get big deductions for throwing out something completely stupid or unsupported. If you have more than X points at the end of the paper, you pass, and if not, you fail.

But like I said, since the SOA is so cryptic on this process, I'm just hypothesizing.
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  #12  
Old 08-03-2012, 09:59 AM
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You would think that as long as you suggest reasonable improvements and back them up you would be fine. But I was told on my feedback "There are aspects of the model that could be improved that you do not discuss" This means there are specific improvements that they have in mind and if you can't read their mind, you're screwed. Yes, mind reading is a "minimum requirement" for actuaries.
Do you think that they MAY be referring to the models metrics (mean, CTE, etc), and possible short-comings of these metrics?
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  #13  
Old 08-03-2012, 10:08 AM
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did u guys suggest anything with stochastic modeling that they asked for? if it wasn't in the question, i dont c how they can fail u for not being a good mind reader. after all, cando could be in an alternate universe where flat rate assumptions may be reasonable and pigs fly, who knows
yes, that's a good assumption to make.

What do you mean if it wasn't in the question? "including (but not limited to) considering whether stochastic or deterministic modeling is more appropriate for certain elements"

That's pretty much a lay up telling you what to look at.
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  #14  
Old 08-03-2012, 10:09 AM
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Do you think that they MAY be referring to the models metrics (mean, CTE, etc), and possible short-comings of these metrics?
No, not these.
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  #15  
Old 08-03-2012, 10:52 AM
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Originally Posted by ebeebs View Post
yes, that's a good assumption to make.

What do you mean if it wasn't in the question? "including (but not limited to) considering whether stochastic or deterministic modeling is more appropriate for certain elements"

That's pretty much a lay up telling you what to look at.
ah yes, didn't recall the exact question, the "but not limited to" does tell u a lot... like "approx" 7 weeks grading time
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  #16  
Old 08-03-2012, 11:35 AM
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did u guys suggest anything with stochastic modeling that they asked for? if it wasn't in the question, i dont c how they can fail u for not being a good mind reader. after all, cando could be in an alternate universe where flat rate assumptions may be reasonable and pigs fly, who knows
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ah yes, didn't recall the exact question, the "but not limited to" does tell u a lot... like "approx" 7 weeks grading time
You asked the bolded. Why wouldn't one suggest anything with stochastic modeling if they specifically asked for it?

Or were you trying to say "did you include anything besides stochastic modeling?"
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Old 08-03-2012, 11:55 AM
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No, not these.
Then what other aspects do you think they were referring to? There's the issue of whether deterministic/stochastic modeling is more appropriate for certain elements. There's the metrics that they use to evaluate the model's results. What else is there? I'm drawing a blank.
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  #18  
Old 08-03-2012, 12:39 PM
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Originally Posted by ebeebs View Post
You asked the bolded. Why wouldn't one suggest anything with stochastic modeling if they specifically asked for it?

Or were you trying to say "did you include anything besides stochastic modeling?"
yea should've been more specific, the IT did not refer to stochastic, which should be kind of obvious from my first question where i stated they asked for stochastic, and it therefore must be anything else besides that item, but yes, should've been more specific, apologies
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  #19  
Old 08-03-2012, 01:14 PM
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Then what other aspects do you think they were referring to? There's the issue of whether deterministic/stochastic modeling is more appropriate for certain elements. There's the metrics that they use to evaluate the model's results. What else is there? I'm drawing a blank.
Well it asks for improvements to the model. The metrics are things that you calculate afterwards from the model output. For this question, you only need to read the section under "The Model" for things to improve/add.
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  #20  
Old 08-03-2012, 01:18 PM
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What happens if somebody falls and dies? If a worker cuts off his hand? A faulty beam collapses and somebody gets injured? Maybe some environmentalists take them to court over ruining the water supply, etc...

Perhaps there's something you can add to the model to cover legal liabilities...
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