November 15, 2020 at 6:32 am #974actuarymelissaParticipant
How is everyone feeling about exam coming up?November 16, 2020 at 9:28 am #985Wilson ChanParticipant
My friend, I am quite struggling. Just finished reading all the source reading now going twice for the detail and forgot almost a lot of the details from each chapters…. Mine exam is Nov 24th. How about you?
And I am not sure specifically on the Rating CH6. Loss, when calculating Benefit, why some times the solution times Compensation Rate and why sometimes not multiplying?
WilsonNovember 17, 2020 at 8:42 pm #1020
I think it’ll be the luck of the questions for me. I barely passed or failed fall 2018 and I graded myself hard and how rediculous cas will be with the tricks on it. We shall c…November 17, 2020 at 8:44 pm #1021
I think it’ll be the luck of the questions for me. I barely passed or failed fall 2018 and I graded myself hard. It’ll also depend how rediculous cas will be with the tricks on the exam or asking straight forward questions. We shall c…November 19, 2020 at 5:28 am #1037actuarymelissaParticipant
I’m sorry you are struggling. This is my 7th attempt at this exam. I know material well and going through it once again since exam is 12.7. I’m reviewing questions in LAE reserving right now particularly ULAE since tends to be a disconnect from the rest of the reserving material. Ratemaking material just needs to practice problems but more in the chapters 9-16. Chapter 1-8 are all connected. I worry about the aggregation in the beginning of the ratemaking material since don’t know how questions might be. Last sitting had horrible problem where had to figure out the earning pattern and it wasn’t uniform. We shall see what questions the CAS puts this time.November 19, 2020 at 7:18 am #1038Wilson ChanParticipant
Fingers crossed. I know it is hard ,that need to split all the Policy and Calculate the Earning% by Policy or Timing the Written% differently when It is not written uniformly, definitely need to review that questions. I am more stuck on the Implementation, where all the Base Rate and stuffs, the text is easy but the question is hard.
For example not know what is Off-Balance Relativity, I understand OBF is just the Base Rate Adjustment to make to Satisfy the Overall Prem% and Rel Change….
I have been reviewed like crazy….November 21, 2020 at 12:33 am #1063TryhardActuaryParticipant
So far took two past exams and I think I’m doing well enough to feel somewhat confident.
Am I correct to recall CAS passed less people from the last exam 5 sitting than usual?
I think 10% point less than usual.November 21, 2020 at 9:35 pm #1072STUDYINGISSOFUNParticipant
Took the exam a couple days ago. GOOD LUCK EVERYONE. Also, yes last pass rate was less than 30%November 21, 2020 at 9:58 pm #1073
Are we allowed to say exam was easy fair or hard? Or like how the experience was at all in excel (I haven’t taken it yet)?November 22, 2020 at 2:03 am #1078TryhardActuaryParticipant
Yeah I was going to ask what is allowed to be said about the exam. I’m curious what people thought of the spreadsheet. I wonder what’s different compared to the regular MS Excel. Could I used shift, ctrl buttons to move around the cell, etc.
Also, how much work needs to be explicitly shown given graders can see the formulas.November 22, 2020 at 4:24 am #1079STUDYINGISSOFUNParticipant
I think it’s fair to say that the modified Excel is good. It was better than I thought it would be. I can’t really say if the exam was easy/hard/comparable to other exams, BUTNovember 23, 2020 at 5:34 pm #1085
Did you have to wear a mask the whole sitting? Or could you take it off when you were at your desk?November 23, 2020 at 9:52 pm #1092LWOTBParticipant
I would like to express my concern regarding the degree of difficulty for the fall 2019 sitting of this exam and also the relationship of the exam to the source material.
I feel that the questions were sometimes asked in a way that was arguably too different from the way that the concepts are presented in Werner and Modlin. Once I review the solutions to these questions, I understand and even appreciate the new way of looking at the topic, however I don’t feel that the exam was an appropriate place to introduce new “twists” on tested concepts.
For instance, in the text and all prior exams and practice exams that I took, Hawayne’s method had three territories, one base and two to use for the compliment. Each territory had two sub categories. Then in the exam itself, the Harwayne question had TWO territories and FOUR subcategories within each territory.
I’m torn about this as of course we should all understand how to modify calculations for any number of territories and subcategories, however unfortunately I don’t feel that this was covered thoroughly enough in the Werner and Modlin source material.
This is not the only example of this problem.
Now the CAS has announced that it will no longer be publishing exams that are given. The problem is that if the exams are going to be asking questions in a very different way from how the topics are presented in Werner and Modlin, then they should be publishing the exams so that either study material creators can modify their materials or students can at least have more practice material that will actually be applicable to the material that will be in the exam.
Either that or I feel that the exams should more closely represent the source material. Harwayne’s method isn’t thoroughly covered in Werner and Modlin. It’s covered but not in great depth and I feel that this question was one that one would not be able to answer correctly if their understanding of Harwayne’s method did not extend beyond the scope of the source material.
Either source material needs to change to better match the exams or the exams need to better match the source material.
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