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Probability Old Exam P Forum 

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#51





#53




I'm done with exam p. I felt doing and understanding all the SOA problems at least 98% helped alot!

#54




I am surprised by those materials!!! Thank you guys

#55




PDF text
Hey guys!
The below link is a downloadable (free) probability text. I hope you find it helpful. http://grove.ufl.edu/~fass/Exam%20P%20Study%20Guide.pdf 
#58




ASM manual was the best thing that ever happened to me!!
After going through the actex chapters, and mostly understand it, what I did was start going through the ASM practice tests. I would put myself under test conditions (3 hour time limit etc) and then at the end of the test, score myself. If you aren't in the ball park, go through rest of ASM manual. Otherwise what I did, was, Write down any and all formulas from the first exam that, had I had, would have gotten me correct answers. I review those before my next exam, and then take that one a day or two later. After the 11th exam, I was getting quite close to the exam date, so I put all my incorrect questions of all the tests taken previously, and started going through them. I got most of them right! Confidence went through the roof, and the exam seemed quite easy! That is probably the best way to do notes, in my opinion, because you don't need to absorb them all at once that way, and it is sunk in deeper, at least in my experience. Knowing that these specific formulas made me pass or fail practice tests just imprinted them on my mind. Keep in mind that ASM has 20 practice exams, you need to start months ahead of time! 
#59




Exam P Notes
I remember getting these notes from a thread about a year ago. I found them to be a pretty helpful reference when it comes to making sure you know how to apply all the concepts and formulas listed on the sheet. Thank you to whoever made them, and I'm not trying to take credit for these notes. Just passing it around to help fellow actuarial students.
On another note, I used the 153 sample questions on BeAnActuary to study, and I did every single endofchapter question (Ch. 111, kind of slacked on Ch. 11 because time was running out) in the Probability for Risk Management book to study for Exam P. I guess that was good enough for a PASS, or I was very lucky on my guessing. Hope this helps, guys. 
#60




Advice to Pass Exam P!
I passed Exam P this week! While I can't post any notes because I wrote entirely too many notes, I'd like to give some advice to those who are studying. I have four points of advice that I hope will help others pass Exam P!
While it's great to know all of the Calculus and complete concepts necessary for Exam P, don't underestimate the power of shortcuts. When I initially read about shortcuts for Exam P, I overlooked them because I already knew my own method very well. Then, I took a couple of practice exams and I quickly realized that I needed to utilize some shortcuts. While I did learn how to do every practice question available to me (Actex and SOA 153), I learned that I didn't have to solve every question during my practice tests. I learned that it's optimal to skip a question if I have to think about it for more than one minute. Initially, it was discouraging to skip a few questions. But in the end, I still scored consistently above a 20. I noticed that lingering on a few questions (that I didn't know how to solve) only took time away from the questions that I did know how to solve (and maybe didnt have time to get to)!! Lastly, and most importantly, I learned to read the problems thoroughly. I learned to not only write "X~exp" or "X~Poiss". But I learned to write down what the random variable signifies "X=time until failure ~ exp" "X=number of goods ~ Poiss" It also helped me immensely to note the information given from each distribution. For example, "X~exp mean=4=stdev lamda=1/4" or "X~Poiss mean=4=lamda=var" "X~ unif (100,400), p(x)=1/300, mean=250" I hope this helps at least some people! Good luck in your studies!!! Last edited by MGomez23; 09282012 at 04:07 PM.. 
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