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Long-Term Actuarial Math Old Exam MLC Forum

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  #81  
Old 09-15-2019, 01:18 PM
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Gandalf Gandalf is offline
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Quote:
Originally Posted by mjkraft827 View Post
This is question 18 from the LTAM manual practice exam 2. The solution used the prospective method to solve for the interest rate. I tried using the special formula of Vt= 1- (ax+t/ax) to solve for ax and then solve I using the typical net premium formula. I'm getting i of ~2.29% using this method. Why is there's difference? Am I using the special formula incorrectly?
I don't see why your approach gives you i=.0229. Can you post your calculations?
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  #82  
Old 09-16-2019, 11:32 PM
isaiahbarrett27 isaiahbarrett27 is offline
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Originally Posted by Gandalf View Post
I don't see why your approach gives you i=.0229. Can you post your calculations?
Quick question, does this shortcut only work for benefits = 1? Or for other amounts do you multiply the entire thing by the benefit amount? i.e.

nV = b_t ( 1 - a_x:n/a_x)
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  #83  
Old 09-17-2019, 07:58 AM
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You would multiply by the benefit amount.
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  #84  
Old 09-17-2019, 08:45 PM
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Good luck to everyone taking this exam, it's a beast. They will probably make it harder from now on considering last sitting was relatively easier. Study hard.
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  #85  
Old 09-19-2019, 12:32 PM
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What is the most sound/effective target time allocation strategy for this exam? Like is 120 min MC - 120 min WA the way to go? Or should i target 90 min MC - 150 min WA?
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  #86  
Old 09-19-2019, 01:42 PM
sukkev08 sukkev08 is offline
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What is the most sound/effective target time allocation strategy for this exam? Like is 120 min MC - 120 min WA the way to go? Or should i target 90 min MC - 150 min WA?
5 min for each MC --> 100 on MC
rest on WA
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  #87  
Old 09-20-2019, 03:00 PM
Seasplash Seasplash is offline
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What is the most sound/effective target time allocation strategy for this exam? Like is 120 min MC - 120 min WA the way to go? Or should i target 90 min MC - 150 min WA?
Based on the 2.5 min/pt rule, you would think 100 for MC and 140 for WA. However, there will probably be at least one conceptual MC question that would probably take 2 minutes max. Some examples: Fall 2018 LTAM MC #1, Spring 2019 LTAM MC #2, Spring 2019 LTAM MC #10. Realistically you want to get to the point where you spend 90 mins max on the MC, because I find the WA tends to take longer.

When I took Spring 2019 LTAM, I spent 75 minutes to get answers for 17 MC questions. I spent 160 minutes on the WA. The remaining 5 minutes or so I spent on getting an answer for a problem and guessing on two.

Definitely DO NOT spend 120/120. If I were told that I would get a perfect 40/40 points on the MC if I spent 2 hours on it, I would not take it.
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  #88  
Old 09-22-2019, 02:26 PM
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I better pass, I have jerked around like twice now on this exam and am feeling the motivation and effort level this go around is going to be adequate. How is everyone else feeling?
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  #89  
Old 09-25-2019, 02:14 PM
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We're a month out, any updates on how people are doing on practice exams, what's everyone's earned level, etc?

I need motivation and it always helps to see how far others are ahead of me :|
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  #90  
Old 09-25-2019, 08:53 PM
mac1245 mac1245 is offline
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We're a month out, any updates on how people are doing on practice exams, what's everyone's earned level, etc?

I need motivation and it always helps to see how far others are ahead of me :|
I am reviewing the material again and still in the first round of practicing questions for each sections. I haven't even started the practice exams yet. Ok now I am scared
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