Fall 2021 ILA-LFM

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Viewing 9 posts - 17 through 25 (of 25 total)
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  • #7214
    quang nguyen
    Participant

    Yes, maybe only me take LFM-C in this forum :))

    #7218
    actuarialswagger
    Participant

    Haha, sorry I can’t provide more help. I’ll make sure to post any IFRS questions I have though.

    #7228
    actuarially decent
    Participant

    Did anyone find the TIA flashcards to be effective for this particular exam?  I know that some of the flashcard “questions” can be a little vague sometimes, but overall I really liked them for LPM and LAM for the most part.

    #7248
    gods_dice2
    Participant

    A few thoughts on the exam yesterday:

    can’t believe they made us to do an entire FAS97 SOE. The source reading literally didn’t even put a formula for it in the book, they just described it and hinted at at how you would solve for it. I hate to say but I worked so hard on those FAS60 SOEs, the different variance views etc, and I failed to commit the FAS97 one to memory. Just too bad. I also got tripped up because the question was worded like “your manager would like to see a different view, show SOE to show what they can expect”— I searched long and hard for an “expected” basis in the problem to compare the actuals to until I finally realized they just meant do the SOE with the actual numbers.

    They had back to back questions basically asking “is reinsurer capital better than traditional life insurance capital. I don’t see anything in the source reading talking about whether reinsurer capital in general is “better” or “worse” (weird word choice too).

    I don’t remember a 5 step mortality table flow chart? I mean I know there were steps for creating mortality table but I thought it added up to like 9 steps and where was the “flow chart” exactly?

    #7256
    BayesianBaller
    Participant

    I think you’re in the wrong exam thread…

    #7257
    Bears Fan Dave
    Participant

    Hoping that Dice took the Canadian version, because I definitely didn’t answer any of those questions.

    To Actuarially Decent:  I generally hate the TIA flashcards, so I didn’t use them very much.

    My general remarks are that I felt the exam was pretty fair.  Of course there were a couple questions/spots where I feel like the question writer too heavily weighted a small piece of exam material, but that happens all the time, so it is what it is.  But it seemed like most questions did a decent job of testing knowledge, which is good.

    I imagine we’re well past the window to talk specifics, so I’ll be happy to discuss how others felt on specific parts of the exam.

    #7258
    gods_dice2
    Participant

    Guys sorry yeah I’m in the wrong thread— I took LPM. I don’t think there is an LPM thread active for November unfortunately so got this one confused. Sorry.

    #7262
    actuarialswagger
    Participant

    Yeah, I feel similar to Bears Fan Dave. There was no question on the exam that I drew a blank on, which is encouraging as that seemed to happen at least once during all the practice exams I took. However, there were quite a few critique questions that seemed to nitpick minor details, which I’m hoping I either got correct from context clues or that those will be graded on some sort of curve. There were also a few questions that seemed to test the general understanding of a concept rather than a formula/list regurgitation. I think these went pretty well, but cannot say for certain.

    #8850
    Mtad
    Participant

    Hi Ahelans, I am reaching out because I am planning to sit for LAM on May 2022 and from your post, it seems that you started with LAM as your first actuarial exam, I have seen some people advising against this and I am very interested having any advice :).

    my e-mail : actuarialexams.ila@gmail.com

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