Fall 2021 ILA-LFM

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Viewing 16 posts - 1 through 16 (of 25 total)
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  • #5613
    actuarialswagger
    Participant

    Starting a thread for the fall sitting of LFM to post about study habits, tips, questions, etc. Let’s try to make this an active forum!

    #5647
    suen1212
    Participant

    Hi, Which study manual are you using?

    #5673
    Bears Fan Dave
    Participant

    I agree, would LOVE an active forum here!

    I’m using TIA.  Wish there was more birds-eye, high-level intro to some of this stuff (loved the way they set up the CARVM material).  Plan to finish the GAAP section today.  Feeling pretty ‘meh’ about it all, but not sure how much of that should be expected on a first pass through this material.

    #5703
    Bruins46
    Participant

    Using TIA as well.

     

    I have similar thoughts of the first pass. Just have to grind through the material and absorb as much as you can. For me, studying is always difficult starting out, but I’m starting to find my groove (and starting to say goodbye to my social life). Ready for a challenging few months ahead.

    #5849
    actuarialswagger
    Participant

    Hey everyone, I’m also using TIA. I felt the same way during my first pass, now going through it again a second time and hoping some things start to click. My plan is to start getting more serious in September and then really clamping down in October. I need to remember I also didn’t know what I was doing at this point in my LPM studying, because it’s easy to get lost with so much material.

    #6156
    Bears Fan Dave
    Participant

    Just finished my first pass through the TIA material last night.

    My plan (at the moment… subject to change) is to now make a full second pass.  It’s a struggle with so much material, I barely remember the early STAT stuff.  Hoping I can get through this pass relatively quickly, so everything stays a bit more refreshed in my mind.

     

    #6192
    actuarialswagger
    Participant

    I’ve started to go through a second time and just began going through flash cards. Knock on wood, but I’ve felt like the flash cards have been pretty reasonable despite not seeing the material for over a month. I at least am enjoying the flash cards more than I did for LPM, which just seemed like list after list.

    #6201
    Bears Fan Dave
    Participant

    that’s really good to hear.  I haven’t done any flashcards yet, but agree that I didn’t like them at all for LPM (or LAM for that matter, so maybe I just don’t like flashcards??).

    #6467
    cdnmBK201
    Participant

    There are less flash cards, but the answers are all so long, so I think it takes more time to go through them than either LPM or LAM. The amount of processes and lists of steps is a lot to take in. Seems like the material is a lot denser than LPM or LAM. I am also on my second material pass now.

    #6621
    Bears Fan Dave
    Participant

    Just finished the STAT section of my 2nd pass.

    The good news is that the material feels like it’s sticking MUCH better than the first pass.

    The bad news is that there is still a ton of material left, and I’m not sure how much of this will remain forefront in my brain enough after going through the rest of the syllabus.  I guess we’ll see.

    #6976
    actuarialswagger
    Participant

    How are we doing? I’m getting through the last bit of flashcards and am starting some practice problems. Are things sticking, and does anyone have any general advice for how to attack this?

    #7029
    ahelans
    Participant

    I am currently studying for ILA LPM, but when I did LAM (2hr exam) I used <span style=”text-decoration: underline;”>PAK</span>. I am also using PAK for LPM this time around, because it is the most efficient way of studying and not too expensive.

    In all honesty I don’t like to read, <span style=”text-decoration: underline;”>I learn by doing questions</span> – the questions that PAK produces gets straight to the point and touches on all necessary topics. I passed the 2hr exam by doing all the questions. The questions really get you to understand and think in the manner of comparing and contrasting the topics as opposed to reading where the raw content won’t draw connections between readings sometimes.

    I am taking the same approach for LPM.

    #7081
    Bears Fan Dave
    Participant

    I’ve gotten through a full second pass of the material.

    Things seemed to stick much better.  The Capital & Finance section dragged more than I remember.

    I once again hate hate hate hate hate TIA’s flashcards.  Like haaaaate.  I don’t know, could be me.  I am a bad studier.  But these things really feel like they do me more harm than good.  Frustrate me to the point of wanting to quit.  They’re just SO generic.

    Anyway, I do like that we have 4 practice exams to work with.  That should cover a lot of material.  I’m also going through each study note and trying to “write” exam questions, and then answer them.  It’s taking a lot of time, but it feels like that is helping me remember things.

    #7186
    actuarialswagger
    Participant

    Took the Spring 2021 exam this weekend and self-graded at a 5… it seems like the SOA has emphasized more of a qualitative understanding of the material over the past few sittings. Because of this, I think I’m going to flashcard to death over the next week and try to retain everything I can. How is everyone doing with a week to go?

    #7208
    quang nguyen
    Participant

    With respect to selecting URR Long-Term or Short-Term under CALM Scenario Testing, any idea how to select Long or Short URR? Is it based on the term of asset reinvestment from the portfolio that supporting the contract liability?

    #7209
    actuarialswagger
    Participant

    Quang, are you taking LFM-C? I really hope so because I’m taking LFM-U and this seems foreign to me (literally and figuratively)

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