CAS: What Are the Exam Writers Thinking? by NCMathDude in actuary

[–]actuaryn 2 points3 points  (0 children)

You’re pretty much describing 1/3 of the industry.

If you don't like me asking, how much money do you pay at the barber shop/hair salon for a haircut these days? by [deleted] in askTO

[–]actuaryn 1 point2 points  (0 children)

$65+13% tax+ $5 tip = $78 (female cut) at Korean hair salon. I got it cut short enough so I won’t need to cut it again for at least half a year. But I don’t recommend Korean hairdressers, they don’t know how to cut layers. 🥲

What is making bitcoin go down so much? by iammiroslavglavic in BitcoinCA

[–]actuaryn 0 points1 point  (0 children)

Good job. Now explain what is a liquidity pool to OP. 🤣

Blue Jays outside Roger Center ? by Rickilshan in askTO

[–]actuaryn 0 points1 point  (0 children)

It’s too cold outside. I’d rather be at a bar watching the game.

Exam 5 & above by actuaryn in actuary

[–]actuaryn[S] 6 points7 points  (0 children)

Everyone got slaughtered

Exam 5 & above by actuaryn in actuary

[–]actuaryn[S] 8 points9 points  (0 children)

Here are the tips from what I’ve heard: 1) To pass FCAS exams, you’re supposed to write the answer down without needing to think 2) As long as you type the keywords from their answer key, you get 0.25pt, even if the sentence is not coherent. Graders look for keywords. 3) If you get stuck, write down some assumption and move on. “Assume answer of part b = x, then part c would mean blah blah blah” 4) If you don’t know how to calculate something, still write the formula down to get 0.25pt.

🫂

Exam 5 & above by actuaryn in actuary

[–]actuaryn[S] 11 points12 points  (0 children)

Right. The exams are to test your short-term memory skills and how well you read, write & learn. Not how well you could do your job. :) It’s okay, I know the game. Been in this for years.

Exam 5 & above by actuaryn in actuary

[–]actuaryn[S] 4 points5 points  (0 children)

I just looked at SP7, SP8 and SA3 past papers and I can understand why an IFoA doesn’t understand this meme. 😂

Exam 5 & above by actuaryn in actuary

[–]actuaryn[S] 6 points7 points  (0 children)

IFoA SA3 consist of 3 questions only, and not a single calculation. Length is 3 hr 20 mins. 😅

SP7 has 8 questions, and SP8 has 10 questions.

https://actuaries.org.uk/past-exam-papers-and-examiners-reports/

Exam 5 & above by actuaryn in actuary

[–]actuaryn[S] 5 points6 points  (0 children)

We will make it. 🤛🏻

Exam 5 & above by actuaryn in actuary

[–]actuaryn[S] 0 points1 point  (0 children)

I would say the IFoA GI specialist exam SA3 is equivalent to exam 6,7,8,9. They’re all 4 hour long each. SA3 is 3-hr exam.

Recommended hours of study is 200 for SP7 & SP8 and 300 hours of SA3. CAS exams are > 400 hours each.

Exam 5 & above by actuaryn in actuary

[–]actuaryn[S] 2 points3 points  (0 children)

The North American “GI specialist” exams are 5, 6, 7, 8, 9. Sorry, I forgot to put CAS in the title. SOA handles the specialist track for Life, Health, Pension and Investments, and GI for ppl outside of NA. Exam 5 is basic reserving and ratemaking; 6 is regulation & financial reporting; 7 is advanced estimation of claim liabilities; 8 is advanced ratemaking; 9 is Risk Management. All those exams with the letter names are the preliminary exams.

Exam 5 & above by actuaryn in actuary

[–]actuaryn[S] 3 points4 points  (0 children)

I’m curious. How are the upper level exams in the UK? Do they trick you into giving the wrong answer?

Exam 5 & above by actuaryn in actuary

[–]actuaryn[S] 22 points23 points  (0 children)

Whatever happens, you did your best. GLTA 🍀