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  #321  
Old 08-03-2018, 09:12 AM
Brizzle Brizzle is offline
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Quote:
Originally Posted by XP-SteveScoles View Post

For question 4, it's possible that you got a 4 because the adjusted standard score was quite high (your score is a relative score not an actual score)

Steve
Thanks for all of the advice Steve. The part above is especially interesting to me. I know that the scores are all relative to some set mark, but I don't really understand the details. Does each subquestion retain the relative number of points to the full question, or do the subquestion points really get shuffled all around?

And does the relative score end up working like this:

If the overall average score on a problem is low, then all the scores are boosted up, so no one is really hurt by that problem. And the few people that really did well on that part won't see as much of a boost to their relative score.

On problems where majority do well: the scores are boosted down, and people that did worse end up scoring really poorly.

Basically, I'm wondering if:

hurt from not knowing a piece that most others do know >>> help from knowing a piece that most others do not know.
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  #322  
Old 08-03-2018, 09:16 AM
Brizzle Brizzle is offline
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Originally Posted by Derek @ TIA View Post
Obviously, it can be frustrating to look back at the solutions and try to remember exactly what you wrote and how that differed from the sample solution, but the best thing is to try to take a look at it, see what you can learn from it, and then keep moving forward without becoming stuck on it because we know that it's really not going to change anything.
Thanks Derek! You're right, its time to move on and get ready for the next sitting. I think I at least learned that I need a deeper understanding of most topics (beyond just the memorized lists).

Get ready to answer some forum questions over the next 3 months!
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  #323  
Old 08-03-2018, 09:40 AM
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TomHaverford TomHaverford is offline
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lol, i basically put exactly what they asked for on question 3 except i also added that the graph could be an accelerated payment as well. so i gave a full answer for ROP (why it's added, why it's hard to price, etc) as well as accelerated payment. in my mind that's not contradictory. i'm not answering both true and false on a true/false question, i'm saying out of the many riders that exist on CII here are a few that may be represented by the graph. the fact that i got a 1/10 on this question is a joke.
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  #324  
Old 08-03-2018, 10:21 AM
Delirium Delirium is offline
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"Most candidates showed their work which is helpful for getting partial credit. A number of candidates calculated their answer in millions, however since the answer is $9,064 they didn’t really save much ink by answering in millions. Some incorrectly rounded their calculations, sometimes resulting in an incorrect solution (they got $10,000 due to rounding along the way). Bottom line: it doesn’t always pay to do it in millions and don’t be careless."

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  #325  
Old 08-03-2018, 10:23 AM
Delirium Delirium is offline
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After reviewing the solutions I don't know how I passed.

I also don't see why it could not have been a partial benefit as well as ROP.
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  #326  
Old 08-03-2018, 10:55 AM
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Originally Posted by Delirium View Post
After reviewing the solutions I don't know how I passed.

I also don't see why it could not have been a partial benefit as well as ROP.
I said partial acceleration on the exam and got 1/10 on that problem. I'm guessing if it was a partial acceleration benefit the dip would be a lot more extreme? But it's definitely frustrating. Using a net margin graph for a single policyholder with no other context is silly when there are two different policy features that can cause a one-time dip in net margin. The SOA has used ridiculous numbers and examples in the past that don't make any sense in reality.
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  #327  
Old 08-03-2018, 11:03 AM
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Originally Posted by Lalaru View Post
I said partial acceleration on the exam and got 1/10 on that problem. I'm guessing if it was a partial acceleration benefit the dip would be a lot more extreme? But it's definitely frustrating. Using a net margin graph for a single policyholder with no other context is silly when there are two different policy features that can cause a one-time dip in net margin. The SOA has used ridiculous numbers and examples in the past that don't make any sense in reality.
I said ROP, I described the correct approaches to developing CII rates in A, and I recommended cash flow testing bc of antiselection due to the ROP option and bc of liabilities with cash flows far in the future. I still only scored 4/10 on this question.

I know people who passed and thought this graph was a claim. So I don't think this question affected final results that much.
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  #328  
Old 08-03-2018, 09:03 PM
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XP-SteveScoles XP-SteveScoles is offline
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Quote:
Originally Posted by Brizzle View Post
hurt from not knowing a piece that most others do know >>> help from knowing a piece that most others do not know.
No you wouldn't be hurt/helped by how others did. The adjusted standard score is set with the intention of saying that is the level of knowledge for that question expected by the SOA. Allegedly (I like using that word whenever I can!), those scores are set independently of how students actually end up doing on the exam.

Importantly, your final tally of actual points scored versus an overall points pass score is what will decide if you actually pass or fail.

I think the advice of letting go and moving forward is extremely valuable as far as anger or ego. But I wouldn't advise of letting go of learning exactly how to answer each type of SOA question - every student who I have seen invest 10 hours in this has significantly shortened their FSA travel time
... Without it is like spending your life learning all the details of soccer strategy, but never learning to kick a ball in a net!

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