Actuarial Outpost
 
Go Back   Actuarial Outpost > Exams - Please Limit Discussion to Exam-Related Topics > SoA > Modules 6-8
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions


Reply
 
Thread Tools Search this Thread Display Modes
  #1  
Old 03-30-2016, 03:19 PM
Tetsuo's Avatar
Tetsuo Tetsuo is offline
Member
SOA
 
Join Date: Mar 2016
Posts: 330
Default Task 6 DNMMR

I recently just DNMMR my FA, and want to figure out what I did wrong before I retake it because I want to be sure I pass this time.

For Task 6
- did we need any tables? I did not include any
- what is the format for an executive summary? I realized I messed this one up by using the EOM1 solution as a guideline, but accidentally included "executive summary" at the top and some other things. Is this more just like a letter/email?

I'm just pretty shocked this was the question that was highlighted as needs the most improvement because I put the least effort into it thinking it was not going to be a big problem. Probably my mistake right there.

Another question is, say I DNMMR on a bunch of question, but the grader comment is Task 3 and Task 6 in particular. Does that mean I did the worst on Task 6 and Task 3? For the other questions do I need to change them a lot? I am thinking of changing a few like Task 2, but for some I think I did fine, so I want to keep them exactly the same. Not sure if they expect me to improve every question or not.

Also what's the correct memo format, for most of them I just wrote:
"Dear ....,
..... blah blah blah" or should it be more of an email format, any examples I can look at?

Thanks for your help.
Reply With Quote
  #2  
Old 03-30-2016, 03:23 PM
TheDarkKnight's Avatar
TheDarkKnight TheDarkKnight is offline
Member
SOA
 
Join Date: Oct 2015
Studying for FAP
Favorite beer: Goose Island 312
Posts: 62
Default

similar format to what you did for things in the EOMs and the IA to start with...

task 6 definitely needs some tables, brief ones in the body, big ones in the back. it's the only formal memo of the whole FA and probably needs most of your attention, at least from a communication perspective.

just because they fail you with X and Y as your two with most improvements doesn't mean the rest are good, but it doesn't mean the rest are bad. review them and see if you think you can do better is the advice i'd give.
__________________
VEEs
P FM MFE MLC C
IA FA
ASA
FSA
Reply With Quote
  #3  
Old 03-30-2016, 03:26 PM
Caitlin525's Avatar
Caitlin525 Caitlin525 is offline
Member
SOA
 
Join Date: Dec 2006
Location: East Coast
Studying for ERM-ILA
Posts: 130
Default

Quote:
Originally Posted by Tetsuo View Post
I recently just DNMMR my FA, and want to figure out what I did wrong before I retake it because I want to be sure I pass this time.

For Task 6
- did we need any tables? I did not include any
- what is the format for an executive summary? I realized I messed this one up by using the EOM1 solution as a guideline, but accidentally included "executive summary" at the top and some other things. Is this more just like a letter/email?

I'm just pretty shocked this was the question that was highlighted as needs the most improvement because I put the least effort into it thinking it was not going to be a big problem. Probably my mistake right there.

Another question is, say I DNMMR on a bunch of question, but the grader comment is Task 3 and Task 6 in particular. Does that mean I did the worst on Task 6 and Task 3? For the other questions do I need to change them a lot? I am thinking of changing a few like Task 2, but for some I think I did fine, so I want to keep them exactly the same. Not sure if they expect me to improve every question or not.

Also what's the correct memo format, for most of them I just wrote:
"Dear ....,
..... blah blah blah" or should it be more of an email format, any examples I can look at?

Thanks for your help.
1. I included tables in each problem just to be safe

2. A formal memo is definitely not formatted like an email. Google examples of formal memos and executive summaries

3. You'll have to refresh your data, so each task will change slightly. IMO it's worth reviewing each task and making them as polished as possible instead of assuming that they were fine. You'll see a lot of people on here who fail multiple times because after their 1st fail they only fixed the 2 tasks mentioned. I wouldn't take that chance.
__________________
ASA

ERM-ILA
ILA-LP
ILA-LFVU
Reply With Quote
  #4  
Old 03-30-2016, 03:41 PM
Tetsuo's Avatar
Tetsuo Tetsuo is offline
Member
SOA
 
Join Date: Mar 2016
Posts: 330
Default

Quote:
Originally Posted by TheDarkKnight View Post
just because they fail you with X and Y as your two with most improvements doesn't mean the rest are good, but it doesn't mean the rest are bad. review them and see if you think you can do better is the advice i'd give.
Some questions I put in a lot of effort into, and don't really know how I could improve tem. For example question 4 I came up with 15 risks, and 5 key risks. Based on reading about how many other people came up with and passed, I would think this is enough, or would they want me to come up with 5 more just because I am retaking?
Reply With Quote
  #5  
Old 03-30-2016, 03:43 PM
Tetsuo's Avatar
Tetsuo Tetsuo is offline
Member
SOA
 
Join Date: Mar 2016
Posts: 330
Default

Quote:
Originally Posted by Caitlin525 View Post
1. I included tables in each problem just to be safe

2. A formal memo is definitely not formatted like an email. Google examples of formal memos and executive summaries

3. You'll have to refresh your data, so each task will change slightly. IMO it's worth reviewing each task and making them as polished as possible instead of assuming that they were fine. You'll see a lot of people on here who fail multiple times because after their 1st fail they only fixed the 2 tasks mentioned. I wouldn't take that chance.
Thanks for your help. I do plan on changing more than those 2 questions, especially task 2 since it's sort of linked with task 3.

What about task 1 - wouldn't that stay the same? Also Question 7 is based on the same output. Only the model you need to rerun changes.
Reply With Quote
  #6  
Old 03-30-2016, 04:41 PM
Caitlin525's Avatar
Caitlin525 Caitlin525 is offline
Member
SOA
 
Join Date: Dec 2006
Location: East Coast
Studying for ERM-ILA
Posts: 130
Default

Quote:
Originally Posted by Tetsuo View Post
Thanks for your help. I do plan on changing more than those 2 questions, especially task 2 since it's sort of linked with task 3.

What about task 1 - wouldn't that stay the same? Also Question 7 is based on the same output. Only the model you need to rerun changes.
You're right, some of them might not change a lot. You're not going to pick 15 new risks just because you DNMMR. I meant more, that you should at least look at each task. Make sure nothing changes with the refreshed data. Re-read everything to ensure your answers are clear and nothing can be improved.

When I DNMMR'd on the IA, I used that as an opportunity to cut out anything that didn't need to be there and really polish my answers.
__________________
ASA

ERM-ILA
ILA-LP
ILA-LFVU
Reply With Quote
  #7  
Old 03-30-2016, 08:45 PM
TheDarkKnight's Avatar
TheDarkKnight TheDarkKnight is offline
Member
SOA
 
Join Date: Oct 2015
Studying for FAP
Favorite beer: Goose Island 312
Posts: 62
Default

Quote:
Originally Posted by Tetsuo View Post
Some questions I put in a lot of effort into, and don't really know how I could improve tem. For example question 4 I came up with 15 risks, and 5 key risks. Based on reading about how many other people came up with and passed, I would think this is enough, or would they want me to come up with 5 more just because I am retaking?
I hear you - I'm about to submit my 3rd attempt. I felt the same way as you after the first fail - I made some improvements to task 3 and task 7, the two they pointed out, and failed again. This time it was task 1 and 7 that were worst. I'm still a bit lost on what I need to be doing better in number 7, but I'm working through it. Number 1 was a tough one for me too, but hopefully my new attempt is better.

I was beyond frustrated when I failed the second time, but I've since cooled off a bit and am trying to take a more positive perspective towards my resubmission. Hopefully this time I'll get it.

Do your best, read over all of your submissions multiple times carefully to make sure that you truly are saying what you thought you were, saying it in the clearest way possible, and including the appropriate amount of detail.

If you have anyone available to read through your work, that is allowed and should be utilized. Not sure what your situation is, but lots of people can help with this even if they aren't actuaries. If they didn't understand something you put in the formal memo, maybe you need to rework that section so it is more clear and concise.

Just my thoughts as I work through my third try...obviously take it with a grain of salt since I haven't yet passed this thing...
__________________
VEEs
P FM MFE MLC C
IA FA
ASA
FSA
Reply With Quote
  #8  
Old 03-30-2016, 09:26 PM
Tetsuo's Avatar
Tetsuo Tetsuo is offline
Member
SOA
 
Join Date: Mar 2016
Posts: 330
Default

Thanks for your advice. We do get BBA again right? Just with new data to run?
Reply With Quote
  #9  
Old 03-30-2016, 09:54 PM
TheDarkKnight's Avatar
TheDarkKnight TheDarkKnight is offline
Member
SOA
 
Join Date: Oct 2015
Studying for FAP
Favorite beer: Goose Island 312
Posts: 62
Default

For now, yes. Who knows when they'll make a new one, or throw some curveball out there...I meticulously re-read the assignment instructions when I started my second try to make sure that there wasn't some hidden change in there that would essentially give me an auto-fail. For some reason I don't trust that they wouldn't do this just to grab up an extra $500 from those who thought it was the same assignment because it looked like the same assignment....
__________________
VEEs
P FM MFE MLC C
IA FA
ASA
FSA
Reply With Quote
Reply

Tags
asa, exam, fap, fap modules, final assessment

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 08:10 PM.


Powered by vBulletin®
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 0.38656 seconds with 11 queries