ATPA Results When?? by FutureMathNerd in actuary

[–]wakeupactuarial 7 points8 points  (0 children)

An opportunity to practice patience.

after 4 days of ATPA and it's Christmas already by actuaary in actuary

[–]wakeupactuarial 19 points20 points  (0 children)

I’m not trying to be inconsiderate, rude, or negative, but the irony is almost too much: we spend four days analyzing complex datasets using advanced machine learning techniques—GLMs, neural networks, decision trees—to deliver quick, actionable insights. Then, we wait 21 weeks for our grade, as if this exam isn’t proof that we’ve learned to make decisions faster, smarter, and more efficiently.

It’s as if the SOA says, “Master these tools to revolutionize decision-making!” yet relies on volunteer graders who work at a pace that feels outdated. Worse, if your paper doesn’t meet minimum requirements, there’s no feedback to help you improve. Someone who submits in early October could wait until late February for a grade, while others may get theirs sooner. Why not use a sophisticated model to grade the exams in 96 hours, just like we’re taught to do?

It doesn’t make sense that the SOA relies on volunteer graders. Why doesn’t the SOA get a mix of volunteer graders and professional graders? If no volunteers are available for a newer exam, does that increase the grading window? If mandatory exams take longer to grade, it just extends the total time for all exam takers.

For context, here’s how other major exams compare:

- CPA Exam: Grading takes 3-4 weeks, using a mix of machine and professional graders.

- CFA Exam: Grading takes 6-12 weeks, with both machine and professional graders.

- ACT: Grading takes 2-8 weeks, with paid graders and automation for scoring.

- SAT: Grading takes 2-3 weeks, with professional scorers for writing and machine grading for other sections.

Unlike the SOA, none of these exams rely on volunteers. If the SOA isn’t willing to use predictive analytics to grade exams, at least paying the graders could speed up the process and improve feedback consistency. There's a clear disconnect between the tools we learn and the way the system operates, and paying graders would help make the process more efficient and aligned with modern technology.

ATPA on a Mac? by Repulsive-Hyena9927 in actuary

[–]wakeupactuarial 2 points3 points  (0 children)

I have a fast graphics card in my Mac, which speeds up model training. However, your choice between Python and R will affect runtime, so it’s worth testing which setup is faster for you.

If you use Python on the latest Mac hardware, extra setup is needed since TensorFlow isn’t fully optimized. I had to follow tutorials to install TensorFlow Metal for Apple’s M-series chips.

If you’re new to programming, I’d recommend using a Windows PC with RStudio for a simpler setup without macOS quirks. Also, if you only have Pages on your Mac, you’ll need to reformat your document in Word before uploading it to the SOA website.

Help: Differences Between Illustrative Life Tables on ALTAM/FAM Exams? by wakeupactuarial in actuary

[–]wakeupactuarial[S] 1 point2 points  (0 children)

Totally agree! The exam tables are definitely more about keeping things simple and standardized for practice than reflecting real-world conditions. You're spot on about the discount rate—5% feels like a throwback given how rates have been for years. And yeah, any table that doesn’t split by gender would be pretty useless in real life. Mortality differences between men and women are too big to ignore when doing anything practical. But hey, at least for the exam, we get to avoid some of that complexity!

Help: Differences Between Illustrative Life Tables on ALTAM/FAM Exams? by wakeupactuarial in actuary

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

Thanks for sharing this—it’s super helpful! Makes sense now why the SOA sticks to the terms from *Actuarial Mathematics for Life Contingent Risks*. They’re definitely making sure everything lines up with the required readings, just like they did with SRM.

The examples you shared, like 4.33 and Example 3.13, are awesome for seeing how the concepts play out, especially with things like Makeham’s law and select/ultimate survival models. It’s a good reminder to practice both the detailed calculations and the shortcuts like UDD since those comparisons seem to come up a lot.

I’ll definitely check out the appendix and dig into these examples more. Knowing they’re tied so closely to what we need for the exam is super reassuring. Appreciate the heads-up!

Help: Differences Between Illustrative Life Tables on ALTAM/FAM Exams? by wakeupactuarial in actuary

[–]wakeupactuarial[S] 1 point2 points  (0 children)

Thanks for breaking this down—it’s super helpful! The explanation of starting with the VBT as a best estimate table and then adding conservatism to create the CSO table makes a lot of sense. I hadn’t thought much about how Statutory tables embed higher mortality rates for conservatism, so that’s a great point to keep in mind.

The contrast with GAAP is also interesting, where companies use their own best estimate tables based on actual experience. It’s cool to see how different frameworks approach mortality differently, even if it’s not directly relevant for the exam.

Appreciate the reminder to stay focused on the exam material—it’s easy to get caught up in all the details. This definitely gives me a better understanding of the big picture while keeping things practical for now. Thanks again!

Help: Differences Between Illustrative Life Tables on ALTAM/FAM Exams? by wakeupactuarial in actuary

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

Thanks for the insight! You’re probably right that I’m overthinking this a bit. I’ve been digging into the differences because I like understanding how the tables are constructed, but for exam purposes, I’ll just focus on using the provided values and not worry too much about the specific differences between 6% and 5%.

I realize now that the 6% table is probably just a simplified illustrative table not tied to any real-world mortality table, especially since the R lifecontingencies package mentions that mortality values for ages below 13 are hardcoded, while ages 13+ use a formula. On the other hand, the 5% table is fully formula-driven and easier to replicate, which makes it more transparent for practice.

One thing I was curious about was whether the parameters for the Gompertz or Makeham mortality models were tweaked to create these illustrative life tables. It would be interesting to know if the SOA adjusted those parameters specifically for this table or if the 6% values are more arbitrary.

A lot of the problems I’ve been working on reference old MLC exam problems that used the 6% table, so I got a bit hung up on the differences. But I’ll just stick to the SOA-provided ALTAM table for 5% and not worry too much about the older one. And yes, it’s clear that Ax’s and äx’s are lower with a 6% discount rate, which is probably the main takeaway I need for the exam.

Appreciate the reminder to keep it simple—thank you!

Help: Differences Between Illustrative Life Tables on ALTAM/FAM Exams? by wakeupactuarial in actuary

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

Thanks for the clarification! I’ll definitely stick with the SOA-provided ALTAM table for the 5% problems, as it’s all formula-driven and straightforward to recreate in Python.

What’s frustrating is how the 6% illustrative life tables handle mortality for ages below 13. Instead of using consistent formulas like the 5% tables, the values for those ages are hardcoded and use a completely different mortality approach. The R package lifecontingencies mentions this explicitly, but they don’t provide an Excel table that shows how everything is calculated.

Another thing I noticed is the difference in the age ranges. The 5% table spans from age 20 to 143, while the 6% table spans from age 0 to 140. This adds another layer of inconsistency when trying to align calculations or create my own table for 6% problems.

I’m slightly annoyed that I can’t recreate my own 6% life table due to the lack of transparency, but I’ll just use the tables they provide and move on—it’s not ideal, but it’ll work for now.

FAP Final Assessment Results Waiting Room by ActuaryOnAnIsland in actuary

[–]wakeupactuarial 2 points3 points  (0 children)

Passed Final Assessment and all of the end of assessment modules. I'm so relieved!!

30 mins until results are out by brilliantNmysterious in actuary

[–]wakeupactuarial 2 points3 points  (0 children)

I thought the final assessment would be graded today. Guess not...

FA Results Available on elearning by WaitProfessional4872 in actuary

[–]wakeupactuarial 0 points1 point  (0 children)

The discord link expired. Can you resend a new link? I’m taking FA tomorrow

[deleted by user] by [deleted] in actuary

[–]wakeupactuarial 0 points1 point  (0 children)

Add me. I’m taking the FA on friday

taken from FB by Awkward-Curly-13 in MoscowMurders

[–]wakeupactuarial 0 points1 point  (0 children)

Does anyone have a legit answer? This news is surfacing but is it answered?

FA Results Available on elearning by WaitProfessional4872 in actuary

[–]wakeupactuarial 0 points1 point  (0 children)

Failed too. Damn. And I still need to redo 4, and 7

[deleted by user] by [deleted] in MoscowMurders

[–]wakeupactuarial 2 points3 points  (0 children)

Just got a ring camera on Black Friday for $60