Actuarial Outpost
 
Go Back   Actuarial Outpost > Actuarial Discussion Forum > Life
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions

DW Simpson International Actuarial Jobs
Canada  Asia  Australia  Bermuda  Latin America  Europe


Reply
 
Thread Tools Search this Thread Display Modes
  #1  
Old 11-05-2017, 06:30 AM
wat?'s Avatar
wat? wat? is offline
Member
SOA AAA
 
Join Date: May 2004
Location: Hi
Studying for beer
Favorite beer: Fresh Squeezed IPA
Posts: 33,170
Default Life & Health Qualifications Seminar 2017

Anyone attending the LHQ Seminar in a couple weeks?
__________________
"Mathematical Induction: How mathematicians manage to suck all the fun out of lining up a row of dominos, knocking the one on the end down, and watching the entire row fall." -BC
Skip it. - AG

AO Golfers Unite! Here and here.
Chase Sapphire Reserve Referral? clicky
Reply With Quote
  #2  
Old 11-07-2017, 05:49 PM
Lord Vader's Avatar
Lord Vader Lord Vader is offline
Member
 
Join Date: Jun 2011
College: Missouri State University
Favorite beer: Southern Tier Imperial IPA
Posts: 128
Default

I am. Taking a look at the reading material - what did I get myself into?
__________________
Dunsky - ASA LP
Still a Pain in the Ass - LFV LRM
Reply With Quote
  #3  
Old 11-07-2017, 10:25 PM
wat?'s Avatar
wat? wat? is offline
Member
SOA AAA
 
Join Date: May 2004
Location: Hi
Studying for beer
Favorite beer: Fresh Squeezed IPA
Posts: 33,170
Default

Quote:
Originally Posted by Lord Vader View Post
I am. Taking a look at the reading material - what did I get myself into?
Pretty much. Some of it is familiar, but I definitely won't have time to make it through all the background readings.

Don't forget about the slides/presentation that were e-mailed recently!
__________________
"Mathematical Induction: How mathematicians manage to suck all the fun out of lining up a row of dominos, knocking the one on the end down, and watching the entire row fall." -BC
Skip it. - AG

AO Golfers Unite! Here and here.
Chase Sapphire Reserve Referral? clicky
Reply With Quote
  #4  
Old 11-19-2017, 01:59 AM
wat?'s Avatar
wat? wat? is offline
Member
SOA AAA
 
Join Date: May 2004
Location: Hi
Studying for beer
Favorite beer: Fresh Squeezed IPA
Posts: 33,170
Default



For those working in life valuation & reserving, whether you are planning to be (or are) an appointed actuary or not, I highly recommend attending the Life & Health Qualifications Seminar sometime.

There are a lot of positives to speak about for this seminar:
- The volume of reading is intimidating (1,500 pages "required" reading, another 3K of optional reading), but most are good reference points for your work in valuation.
- The presentations manage to take that wide bank of information relevant in our industry (ASOPs, AGs, model regulations, Life & Health Valuation Manual, the Valuation Manual (not the same as the previous item), state regulations, developments in laws, etc.) and organize it in a fairly digestible manner over a few days.
- The case study sessions to dive deeper into some of the more intricate issues of Life & Health are extremely valuable - not just because you get to test yourself on the application of regulations, principles & laws, but you also get to discuss them openly with other actuaries with varying backgrounds. At the end of it all, you get to hear from instructors that are often times privy to the development of why these laws/principles in place, so you get context that is otherwise absent.

The one drawback may be that for the test at the end of the seminar, you'll need to learn about Life & Health, regardless whether you practice in Life or Health. Finding about the ACA and how Medical Loss Ratios, Medicare Part D and Pharmaceutical Rebates work (and enter the Orange Blank) was interesting, but I imagine very few life actuaries are having to opine on those. But, the current rule for being qualified for Specific Annual Statement SAO's via this test is to be knowledgeable about Life & Health, so that'll currently stand. (I will say that of the 3 days, arguably more than two days are devoted to Life and the Blue Blank, so I imagine Health actuaries have a bigger complaint here.)

Just some thoughts for anyone considering this in the future.
__________________
"Mathematical Induction: How mathematicians manage to suck all the fun out of lining up a row of dominos, knocking the one on the end down, and watching the entire row fall." -BC
Skip it. - AG

AO Golfers Unite! Here and here.
Chase Sapphire Reserve Referral? clicky
Reply With Quote
  #5  
Old 08-28-2018, 06:33 PM
BAIIPRO BAIIPRO is offline
Member
SOA
 
Join Date: Jul 2009
Posts: 261
Default

I'm thinking of attending this year. Simple question: in your opinion, do i need to read the required texts prior to the seminar in order to pass the exam at the end? And what happens if you fail the exam anyway?
Reply With Quote
  #6  
Old 08-29-2018, 05:52 PM
wat?'s Avatar
wat? wat? is offline
Member
SOA AAA
 
Join Date: May 2004
Location: Hi
Studying for beer
Favorite beer: Fresh Squeezed IPA
Posts: 33,170
Default

Quote:
Originally Posted by BAIIPRO View Post
I'm thinking of attending this year. Simple question: in your opinion, do i need to read the required texts prior to the seminar in order to pass the exam at the end? And what happens if you fail the exam anyway?
(i) Anecdotal evidence: I spoke with one attendee last year that didn't prep at all and managed to pass the exam. So, you don't *need* to, but I'll caveat here that participant had significant experience with a fair number of the regulatory topics, so perhaps that person didn't need to read up on it much. I personally would give it a good go.
(ii) Nothing ... besides professional contempt from your peers.

Just kidding. I think you can take it in a future sitting.


I honestly believe the LHQ Seminar is a very valuable experience for those currently working in or planning to be in statutory valuation. This should be popular at least for the next couple years, with numerous changes to the VM continuing to go on through 2019 (e.g., VM-21 & VM-22, specifics to VM-20) and the ever-volatile health regulatory landscape.

But do try to make a good-faith effort to read the required materials, because the people that are going to call you out on these things (regulators, auditors, examiners) have.
__________________
"Mathematical Induction: How mathematicians manage to suck all the fun out of lining up a row of dominos, knocking the one on the end down, and watching the entire row fall." -BC
Skip it. - AG

AO Golfers Unite! Here and here.
Chase Sapphire Reserve Referral? clicky
Reply With Quote
  #7  
Old 09-28-2018, 02:46 PM
exponentialpi's Avatar
exponentialpi exponentialpi is offline
Member
SOA AAA
 
Join Date: Nov 2008
Location: Po
Studying for ACA
College: Graduate of hard knocks
Favorite beer: Cold Smoke
Posts: 1,457
Default

Quote:
Originally Posted by BAIIPRO View Post
I'm thinking of attending this year. Simple question: in your opinion, do i need to read the required texts prior to the seminar in order to pass the exam at the end? And what happens if you fail the exam anyway?
I am attending this year. I work in the health space and a bit nervous about having to get life concepts down.

Quote:
Originally Posted by wat? View Post
(i) Anecdotal evidence: I spoke with one attendee last year that didn't prep at all and managed to pass the exam. So, you don't *need* to, but I'll caveat here that participant had significant experience with a fair number of the regulatory topics, so perhaps that person didn't need to read up on it much. I personally would give it a good go.
(ii) Nothing ... besides professional contempt from your peers.

Just kidding. I think you can take it in a future sitting.


I honestly believe the LHQ Seminar is a very valuable experience for those currently working in or planning to be in statutory valuation. This should be popular at least for the next couple years, with numerous changes to the VM continuing to go on through 2019 (e.g., VM-21 & VM-22, specifics to VM-20) and the ever-volatile health regulatory landscape.

But do try to make a good-faith effort to read the required materials, because the people that are going to call you out on these things (regulators, auditors, examiners) have.
I am looking forward to attending. I haven't seen anything related to LHQS reading list yet. October is going to be busy.
Reply With Quote
  #8  
Old 10-10-2018, 04:53 PM
LowProbability LowProbability is offline
SOA AAA
 
Join Date: Dec 2016
College: Berkeley
Posts: 13
Default

I attended the LHQ 2 years ago. I skimmed through the reading material beforehand but certainly did not read all of it.

The test is open book/notes. If you're already familiar with statutory life and health, then it isn't too difficult as long as you pay attention during the seminar and know where to go to look stuff up in the reading materials. If you aren't already familiar with the topics, then you would get more benefit doing some reading ahead of time.
Reply With Quote
  #9  
Old 10-10-2018, 06:07 PM
wat?'s Avatar
wat? wat? is offline
Member
SOA AAA
 
Join Date: May 2004
Location: Hi
Studying for beer
Favorite beer: Fresh Squeezed IPA
Posts: 33,170
Default

Quote:
Originally Posted by exponentialpi View Post
I am attending this year. I work in the health space and a bit nervous about having to get life concepts down.

I am looking forward to attending. I haven't seen anything related to LHQS reading list yet. October is going to be busy.
Really? You should contact Doreen at the Academy - I recall getting my materials in early/mid-August last year.

And I mostly agree with LowProbability's assessment of the exam following the seminar, except that:

1) If you're not familiar with the life (blue) blank, there is a lot of information that's testable from the blank, including VM-20.
2) Spend some time the night before indexing important information, concepts and terms. Pay full attention when going through the case studies and actively participate in the small group & large group discussions.
__________________
"Mathematical Induction: How mathematicians manage to suck all the fun out of lining up a row of dominos, knocking the one on the end down, and watching the entire row fall." -BC
Skip it. - AG

AO Golfers Unite! Here and here.
Chase Sapphire Reserve Referral? clicky
Reply With Quote
  #10  
Old 10-29-2018, 01:49 PM
exponentialpi's Avatar
exponentialpi exponentialpi is offline
Member
SOA AAA
 
Join Date: Nov 2008
Location: Po
Studying for ACA
College: Graduate of hard knocks
Favorite beer: Cold Smoke
Posts: 1,457
Default

Quote:
Originally Posted by wat? View Post
Really? You should contact Doreen at the Academy - I recall getting my materials in early/mid-August last year.

And I mostly agree with LowProbability's assessment of the exam following the seminar, except that:

1) If you're not familiar with the life (blue) blank, there is a lot of information that's testable from the blank, including VM-20.
2) Spend some time the night before indexing important information, concepts and terms. Pay full attention when going through the case studies and actively participate in the small group & large group discussions.
Thanks for the responses. A textbook arrived in the mail in August, but with no indications of what to read. The slides/handouts came last week via email.

1) Not familiar with the blue blank. Orange is what I know.

2) I plan to spend decent time reviewing and plan to fully participate. I am arriving early to wear off the jet lag.
Reply With Quote
Reply

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 07:36 AM.


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 0.36829 seconds with 11 queries