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Design and Accounting Exam Old Retirement Company/Sponsor Perspective (nation-specific) Forum

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  #11  
Old 07-31-2018, 09:43 AM
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For anyone else going trying to learn the difference between ASC 715 and IAS 19, this link is very helpful: https://www.asppa.org/News/Article/ArticleID/9908
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Old 08-01-2018, 10:10 AM
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Thanks Prob4Fun!

I'm just trying to read through right now so I get finish the manual as soon as possible but the information is not really sticking.
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Old 08-08-2018, 12:06 PM
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I'm using the Edge manual and finding the structure of it difficult. I'm half way through section 5. I haven't watched any of the section videos (besides intros). In looking at slides that accompany the videos, it looks like for practice questions they do a whole lot brainstorming and writing down the lists. But what I don't see is the actual solution they would write if on a test. I don't see them showing how to synthesize those lists into actual question answers. Does this happen? Am I missing something?
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Old 08-09-2018, 08:31 AM
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Quote:
Originally Posted by dabram09 View Post
In looking at slides that accompany the videos, it looks like for practice questions they do a whole lot brainstorming and writing down the lists. But what I don't see is the actual solution they would write if on a test. I don't see them showing how to synthesize those lists into actual question answers. Does this happen? Am I missing something?
You might want to review some of the prior exams and solutions released by the SOA. You will find that the SOA is really only looking for list/bullet point answers for a majority of the questions.
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Old 08-10-2018, 05:55 PM
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Quote:
Originally Posted by dabram09 View Post
I'm using the Edge manual and finding the structure of it difficult. I'm half way through section 5. I haven't watched any of the section videos (besides intros). In looking at slides that accompany the videos, it looks like for practice questions they do a whole lot brainstorming and writing down the lists. But what I don't see is the actual solution they would write if on a test. I don't see them showing how to synthesize those lists into actual question answers. Does this happen? Am I missing something?
The EDGE content is bulky and a bit sloppy. However, it is structured in a way that allows you to understand the topics more quickly than reading the source material. I have gone through the first manual, about half of the videos, and most of the QBS manual. A lot of the content is restated two or three times, so it is not exactly the most efficient study method.

My plan of attack from here is to rewrite the QBS solution and simplify the math section for easier memorization. The QBS has too many errors and awkward language for me to memorize as it is. Also, in the process of rewriting, it helps tie things together, reduce content on areas with which I'm familiar, and add content where needed. I have logged about 100 hours of study and I am starting to feel like I might be able to pass this thing.

Is anyone study from the source material only? I'd imagine the would take significantly longer to prep for the exam that way.
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Old 08-10-2018, 06:10 PM
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Also, can we stop saying "anti-selection"? What does that even mean? It sounds like it would be against selection, but that's not always the case.

"Adverse-selection" is much more meaningful and descriptive. It's merely the selection that has an adverse impact.
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Old 08-13-2018, 12:56 PM
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thanks for the responses! @Prob4Fun I tried to avoid reading the source material at first, but the manual was too context free so I actually have been reading like 85% of the total pages assigned in the syllabus. Not efficient, but hoping that I have given myself enough time such that going back through the manual, vids, and QBS all the shades will be filled in.

Yes, adverse-selection is a bettor descriptor. So much of the reading, and it bleeds between sections, is on strategies to share investment/longevity risk btw ERs and EEs. The source material can sometimes feel like people very heavily invested in DB plans making a survivalist case for them, when in reality, the market appears (aside from small employers) to be done with them.
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Old 08-20-2018, 12:27 PM
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There are parts of the manual that will say "This is written from a Canadian perspective" or "This is written from a US perspective." I'm assuming that regardless which version of the exam we're taking, we'll need to know both Canadian and US plan designs?
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Old 09-06-2018, 11:11 AM
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It's pretty ridiculous that we have to hand write the solutions for the exam. I'm pretty sure every working actuary can type.
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Old 09-07-2018, 10:22 PM
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I used to work in the small plan world (only about a quarter PBGC covered) and we would only do Funding Valuations for most of our clients. Only a handful did we have to prepare accounting disclosure and expense reports. However, I don't see anything in ASC 715 exempting small plans from making these disclosures. There are certain items non-public company's are exempt from disclosing. But I don't see anything exempting disclosure altogether.

I must be wrong about this. Does anyone have source where it says small plans exempt?
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