Actuarial Outpost Statistics Background for ASM C Manual
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 Short-Term Actuarial Math Old Exam C Forum

#1
01-15-2015, 06:28 PM
 jrk012 SOA Join Date: Mar 2014 College: Michigan State Favorite beer: Two Hearted Posts: 29
Statistics Background for ASM C Manual

Hello,

I am currently starting my studies for Exam C and I am planning on buying the ASM manual to study for it. I was curious as to how much of a mathematical statistics background is needed for the manual. I have a small background, but I got my VEE with an Econometrics class. Does the ASM manual give enough of a review where it wouldn't be necessary to outsource for the stats background?
#2
01-15-2015, 06:31 PM
 clarinetist Member Non-Actuary Join Date: Aug 2011 Studying for Rcpp, Git Posts: 6,886

Quote:
 Originally Posted by jrk012 Hello, I am currently starting my studies for Exam C and I am planning on buying the ASM manual to study for it. I was curious as to how much of a mathematical statistics background is needed for the manual. I have a small background, but I got my VEE with an Econometrics class. Does the ASM manual give enough of a review where it wouldn't be necessary to outsource for the stats background?
If you passed P, you can handle ASM.

In my experience: if you know what Method of Maximum Likelihood, Method of Moments, and Unbiased Estimates are, that's a good chunk of the statistics portion. There are some nonparametric tests as well: Kolmogorov-Smirnov, Anderson-Darling [which is just unnecessary to teach how to do manually, but I guess the committee wants to teach it], and $\chi^{2}$ goodness-of-fit test.
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#3
01-15-2015, 06:32 PM
 x_chuck_x Member CAS Join Date: Jul 2010 Location: Southeastern USA Studying for 6 College: South Alabama(BS)/Jacksonville State (MBA) Posts: 1,102

Since you have VEEs, you've passed at least 2 exams. I'm assuming one of them is P. You should be okay.

There is an entire chapter on reviewing mathematical statistics.
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Last edited by x_chuck_x; 01-15-2015 at 06:39 PM..
#4
01-15-2015, 06:40 PM
 jrk012 SOA Join Date: Mar 2014 College: Michigan State Favorite beer: Two Hearted Posts: 29

Awesome, I have the Asimow & Maxwell text for Exam P, so I've done some skimming of that, but hadn't taken a lot of time to get a deep understanding of all the statistical topics. Thanks for the help!
#5
01-15-2015, 06:41 PM
 clarinetist Member Non-Actuary Join Date: Aug 2011 Studying for Rcpp, Git Posts: 6,886

Quote:
 Originally Posted by jrk012 Awesome, I have the Asimow & Maxwell text for Exam P, so I've done some skimming of that, but hadn't taken a lot of time to get a deep understanding of all the statistical topics. Thanks for the help!
Asimow & Maxwell's an amazing text. Some of the statistics in that text are also in C, so it is definitely to your advantage to have that stuff down.
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#6
01-15-2015, 07:32 PM
 Academic Actuary Member Join Date: Sep 2009 Posts: 8,876

Quote:
 Originally Posted by jrk012 Awesome, I have the Asimow & Maxwell text for Exam P, so I've done some skimming of that, but hadn't taken a lot of time to get a deep understanding of all the statistical topics. Thanks for the help!
Why would you take C before P?
#7
01-15-2015, 08:23 PM
 jrk012 SOA Join Date: Mar 2014 College: Michigan State Favorite beer: Two Hearted Posts: 29

Quote:
 Originally Posted by Academic Actuary Why would you take C before P?
I have already passed P. I used the Asimow/Maxwell text to study for that exam, but I only read the chapters pertaining to P and only skimmed over the extra on stats.
#8
01-15-2015, 08:24 PM
 jrk012 SOA Join Date: Mar 2014 College: Michigan State Favorite beer: Two Hearted Posts: 29

Quote:
 Originally Posted by clarinetist Asimow & Maxwell's an amazing text. Some of the statistics in that text are also in C, so it is definitely to your advantage to have that stuff down.
Yeah, outside of ASM that has been the best book I've used in my actuarial studies. Is there a whole lot of FM that carries over to C?
#9
01-15-2015, 09:00 PM
 trevmac123 Member CAS Join Date: Oct 2014 Studying for FCAS Favorite beer: CBC Creeper Posts: 243

Quote:
 Originally Posted by jrk012 Yeah, outside of ASM that has been the best book I've used in my actuarial studies. Is there a whole lot of FM that carries over to C?
Virtually nothing from FM is on C, except you might get one problem that involves inflation, but it would be a very minor part of the problem. That's the only overlap I can think of. There's a little more overlap with P where it's basically a more complex version of a P problem.
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#10
01-15-2015, 09:10 PM
 Abelian Grape Meme-ber                         Meme-ber CAS Join Date: Jul 2014 Favorite beer: Allagash Curieux Posts: 42,126

I knew almost nothing about statistics and passed both C and ST using ASM. Weishaus teaches the concepts well enough that having no background is fine.
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Quote:
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