Exam ILA-LAM

Lessons
announcements*

Previous Chapter:

none

Previous Lesson:

Play

Next Lesson:

Next Chapter:

How many hours should you study for an FSA exam?

Wed, 20 Jan 2021

We did a survey not long ago on how many hours passing vs. failing candidates spent studying for FSA exams. We also collected useful information about key study habits that successful candidates had.

Thoughts on the Prometric CBT exam experience

Mon, 18 Jan 2021

I recently joined two of our other instructors, Zak Fischer and Derek Brace, on a recorded Zoom call to talk about the Prometric exam experience so far as well as other topics listed below. You can check it out on YouTube. Let us know if there are other topics or questions you’d like us to … Continue reading

If you have issues uploading your exam files at Prometric…

Wed, 28 Oct 2020

Good news… today I was told by someone (that I trust a lot) in the SOA education function that the Word and Excel exam files can usually be recovered directly from the Prometric workstation if there are issues uploading. If you end up having any issue whatsoever uploading your Word and Excel files on exam … Continue reading

Random but important details we’ve learned about the Prometric experience after day 1

Tue, 27 Oct 2020

Today we surveyed our customers who took the ERM and QFI Quant exam under the new CBT format at Prometric centers on Monday, October 26. Here are a few things we’ve learned that we wanted to relay to anyone planning to take a CBT exam in the coming days. To be clear, we have no … Continue reading

Introduction ... lessons ... min of video
- Introductory Materials ...
  - LAM Intro Video (9:34)
  - READ FIRST: LAM Release Date Schedule and Revision History (sample) (handout)
  - LAM Syllabus (Fall 2020 / Spring 2021) (handout)
  - How to Prepare for FSA Exams: Tips and Best Practices (25:50)
  - Using the Course Forum (11:12)
  - Spring 2021 TIA LAM Suggested Study Schedule (sample) (handout)
  - SOA Guide to Written Exams (handout)
  - Video Player Keyboard Shortcuts (sample) (handout)
  - If You Failed (handout)
- Important: Understanding the Format of FSA Exams ...
  - 10 Tips for Successful FSA Exam Studying (Part 1 of 2) (21:04)
  - 10 Tips for Successful FSA Exam Studying (Part 2 of 2) (9:44)
  - First FSA Exam? Learn how FSA exams are different from the prelims. (17:53)
  - Meet the Verbs Part 1: The relative value of verbs used in past FSA questions (11:46)
  - Meet the Verbs Part 2: Verb definitions (5:58)
  - Meet the Verbs Part 3: Specific examples of how to answer questions based on the verb used (25:31)
A. Stochastic Models, Generalized Linear Models, Multi-State and Transition Matrix Models ... lessons ... min of video
- Section A Handouts ...
  - Section A - Detailed Study Guide (handout)
  - Section A - Video Lesson Handouts (handout)
- A.1: Stochastic Models ...
- A.2: Generalized Linear Models, Multi-State and Transition Matrix Models ...
  - A.2.1. LAM-137: Multi-state Transition Models with Actuarial Applications (Section 1) (28:17)
  - A.2.1. LAM-137: Multi-state Transition Models with Actuarial Applications (Section 2) (10:26)
  - A.2.2. LAM-138: A Practitioner's Guide to Linear Models (Part 1 of 5) (12:02)
  - A.2.2. LAM-138: A Practitioner's Guide to Linear Models (Part 2 of 5) (13:15)
  - A.2.2. LAM-138: A Practitioner's Guide to Linear Models (Part 3 of 5) (16:48)
  - A.2.2. LAM-138: A Practitioner's Guide to Linear Models (Part 4 of 5) (10:59)
  - A.2.2. LAM-138: A Practitioner's Guide to Linear Models (Part 5 of 5) (20:12)
B. Issues Common to Models ... lessons ... min of video
- Section B Handouts ...
  - Section B - Detailed Study Guide (handout)
  - Section B - Video Lesson Handouts (handout)
- Section B Videos ...
  - B.1.1. LAM-116: Life Insurance Forecasting and Liability Models (Part 1 of 2) (20:14)
  - B.1.1. LAM-116: Life Insurance Forecasting and Liability Models (Part 2 of 2) (26:12)
  - B.1.2. LAM-132: Cluster Analysis (Part 1 of 2) (13:09)
  - B.1.2. LAM-132: Cluster Analysis (Part 2 of 2) (21:29)
  - B.1.3. LAM-133: Model Risk Mitigation and Cost Reduction (Part 1 of 2) (5:37)
  - B.1.3. LAM-133: Model Risk Mitigation and Cost Reduction (Part 2 of 2) (15:52)
  - B.1.4. LAM-134: Supervisory Guidance on Model Risk (Part 1 of 2) (19:17)
  - B.1.4. LAM-134: Supervisory Guidance on Model Risk (Part 2 of 2) (16:46)
  - B.1.5. LAM-135: Stochastic Modeling, Section II.B.I (Part 1 of 2) (16:15)
  - B.1.5. LAM-135: Stochastic Modeling, Section II.B.I (Part 2 of 2) (10:45)
  - B.1.6. ASOP 56 (12:10)
  - B.1.7. LAM-144: Use of Discount Rates in Actuarial Models (Part 1 of 2) (9:16)
  - B.1.7. LAM-144: Use of Discount Rates in Actuarial Models (Part 2 of 2) (14:18)
  - B.1.8. LAM-145: Expert Judgment (Part 1 of 5) (6:14)
  - B.1.8. LAM-145: Expert Judgment (Parts 2-3 of 5) (14:04)
  - B.1.8. LAM-145: Expert Judgment (Part 4 of 5) (10:40)
  - B.1.8. LAM-145: Expert Judgment (Part 5 of 5) (5:54)
  - B.1.9. Model Validation for Insurance Enterprise Risk and Capital Models (Part 1 of 2) (17:42)
  - B.1.9. Model Validation for Insurance Enterprise Risk and Capital Models (Part 2 of 2) (12:52)
  - B.1.10. Effect of Deflation or High Inflation in Insurance (Part 1 of 3) (18:34)
  - B.1.10. Effect of Deflation or High Inflation in Insurance (Part 2 of 3) (11:11)
  - B.1.10. Effect of Deflation or High Inflation in Insurance (Part 3 of 3) (14:41)
  - B.1.11. Interesting Challenges for Insurers (23:42)
  - B.1.12. Model Efficiency Study Results (Parts 1-2 of 7) (17:25)
  - B.1.12. Model Efficiency Study Results (Part 3 of 7) (10:04)
  - B.1.12. Model Efficiency Study Results (Part 4 of 7) (7:17)
  - B.1.12. Model Efficiency Study Results (Parts 5-6 of 7) (7:24)
  - B.1.12. Model Efficiency Study Results (Part 7 of 7) (9:44)
  - B.1.13. Model Efficiency in the US Life Insurance Industry (Part 1 of 2) (19:06)
  - B.1.13. Model Efficiency in the US Life Insurance Industry (Part 2 of 2) (20:43)
  - B.1.14. Making Spreadsheets Great Again (Part 1 of 2) (18:32)
  - B.1.14. Making Spreadsheets Great Again (Part 2 of 2) (9:59)
  - B.1.15. Importance of Modeling Centralization (16:48)
  - B.1.16. Actuarial Modeling Systems: How Open We WANT Them to be vs. How Closed We NEED Them to be, The Modeling Platform (Part 1 of 4) (12:30)
  - B.1.16. Actuarial Modeling Systems: How Open We WANT Them to be vs. How Closed We NEED Them to be, The Modeling Platform (Part 2 of 4) (15:04)
  - B.1.16. Actuarial Modeling Systems: How Open We WANT Them to be vs. How Closed We NEED Them to be, The Modeling Platform (Part 3 of 4) (26:42)
  - B.1.16. Actuarial Modeling Systems: How Open We WANT Them to be vs. How Closed We NEED Them to be, The Modeling Platform (Part 4 of 4) (23:57)
  - B.1.17. Data Visualization for Model Controls (Part 1 of 2) (18:10)
  - B.1.17. Data Visualization for Model Controls (Part 2 of 2) (14:57)
C. Asset-Liability and Projection Models ... lessons ... min of video
- Section C Handouts ...
  - Section C - Detailed Study Guide (handout)
  - Section C - Video Lesson Handouts (handout)
- C.1 Asset-Liability and Projection Models ...
  - C.1.1. LAM-117: Key Rate Durations: Measures of Interest Rate Risk (Part 1 of 4) (sample) (21:00)
  - C.1.1. LAM-117: Key Rate Durations: Measures of Interest Rate Risk (Part 2 of 4) (23:32)
  - C.1.1. LAM-117: Key Rate Durations: Measures of Interest Rate Risk (Part 3 of 4) (9:10)
  - C.1.1. LAM-117: Key Rate Durations: Measures of Interest Rate Risk (Part 4 of 4) (18:42)
  - C.1.2. LAM-118: Revisiting the Role of Insurance Company ALM (Part 1 of 2) (7:31)
  - C.1.2. LAM-118: Revisiting the Role of Insurance Company ALM (Part 2 of 2) (15:15)
  - C.1.3. LAM-130: Diversification (Part 1 of 2) (14:16)
  - C.1.3. LAM-130: Diversification (Part 2 of 2) (16:35)
  - C.1.4. LAM-131: Ch. 22 of Life Insurance Accounting, ALM (Part 1 of 3) (25:18)
  - C.1.4. LAM-131: Ch. 22 of Life Insurance Accounting, ALM (Part 2 of 3) (14:33)
  - C.1.4. LAM-131: Ch. 22 of Life Insurance Accounting, ALM (Part 3 of 3) (9:56)
  - C.1.5. LAM-140: Asset Adequacy Analysis Practice Note (Part 1 of 3) (17:42)
  - C.1.5. LAM-140: Asset Adequacy Analysis Practice Note (Part 2 of 3) (29:03)
  - C.1.5. LAM-140: Asset Adequacy Analysis Practice Note (Part 3 of 3) (14:57)
  - C.1.6. LAM-146: Ch. 16 of ALM Management of Financial Institutions (Part 1 of 2) (22:39)
  - C.1.6. LAM-146: Ch. 16 of ALM Management of Financial Institutions (Part 2 of 2) (14:21)
  - C.1.7. LAM-147: Ch 2 of ALM Management of Financial Institutions (19:23)
- C.2 LTC Case Study ...
  - C.2.1. LTC Case Study (Part 1 of 2) [LAM-141, LAM-142 & LAM-143] (13:12)
  - C.2.1. LTC Case Study (Part 2 of 2) [LAM-141, LAM-142 & LAM-143] (14:56)
D. Economic Scenario Generator and Equity-Linked Models ... lessons ... min of video
- Section D Handouts ...
  - Section D - Detailed Study Guide (handout)
  - Section D - Video Lesson Handouts (handout)
- D.1: Investment Guarantees (Hardy) ...
  - Standard Normal Table (handout)
  - D.1.1. Inv. Guar. Ch. 1 - Introduction (20:27)
  - D.1.2. Inv. Guar. Ch. 2: Modeling Long-Term Stock Returns (Part 1 of 2) (8:32)
  - D.1.2. Inv. Guar. Ch. 2: Modeling Long-Term Stock Returns (Part 2 of 2) (22:19)
  - D.1.3. Inv. Guar. Ch. 6: Modeling the Guarantee Liability (Part 1 of 4) (5:29)
  - D.1.3. Inv. Guar. Ch. 6: Modeling the Guarantee Liability (Part 2 of 4) (15:05)
  - D.1.3. Inv. Guar. Ch. 6: Modeling the Guarantee Liability (Part 3 of 4) (25:51)
  - D.1.3. Inv. Guar. Ch. 6: Modeling the Guarantee Liability (Part 4 of 4) (10:43)
  - D.1.4. Inv. Guar. Ch. 7: Option Pricing Theory (Part 1 of 2) (28:23)
  - D.1.4. Inv. Guar. Ch. 7: Option Pricing Theory (Part 2 of 2) (10:52)
  - D.1.5. Inv. Guar. Ch. 8: Dynamic Hedging for Separate Account Guarantees (30:47)
  - D.1.6. Inv. Guar. Ch. 12: Guaranteed Annuity Options (Part 1 of 2) (15:59)
  - D.1.6. Inv. Guar. Ch. 12: Guaranteed Annuity Options (Part 2 of 2) (15:27)
  - D.1.7. Inv. Guar. Ch. 13: Equity-Indexed Annuities (Part 1 of 2) (24:19)
  - D.1.7. Inv. Guar. Ch. 13: Equity-Indexed Annuities (Part 2 of 2) (32:45)
- D.2: Economic Scenario Generators (ESGs) ...
Supplementary Materials ... lessons ... min of video
- TIA FSA Instructor Video Series on Recommendations for Prometric FSA Exams (New / Under Construction!) ...
  - Prometric Exam Tips & Discussion (Part 1 of 3) (20:09)
  - Prometric Exam Tips & Discussion (Part 2 of 3) (21:00)
  - Prometric Exam Tips & Discussion (Part 3 of 3) (27:22)
  - How CBT is changing the format of FSA exams starting Fall 2020 (14:58)
- PDF Flashcards ...
  - TIA LAM PDF Flashcard Download (1 per page and 3 per page formats) (handout)
- Condensed Outline ...
  - TIA LAM Condensed Outline (handout)
- Formula Sheet ...
  - TIA LAM Formula Sheet (handout)
- Drill Problems ...
  - TIA LAM Drill Problem Set - Questions Only (handout)
  - TIA LAM Drill Problem Set - Questions and Solutions (handout)
- TIA Practice Exams ...
  - Note: The downloads below are zip files. (handout)
  - TIA Practice Exam #1 (Questions Only) (handout)
  - TIA Practice Exam #1 (Solutions) (handout)
  - TIA Practice Exam #2 (Questions Only) - Posted by 1/30 (handout)
  - TIA Practice Exam #2 (Solutions) - Posted by 1/30 (handout)
  - TIA Practice Exam #3 (Questions Only) (handout)
  - TIA Practice Exam #3 (Solutions) (handout)
- Past Exam Questions ...
  - Spreadsheet Mapping of Relevant Past Exam Questions (handout)
  - TIA Solutions to the Fall 2019 LAM Exam (handout)
  - TIA Solutions to the Spring 2020 LAM Exam (Part 1 of 2) - PDF Solutions (12:41)
  - TIA Solutions to the Spring 2020 LAM Exam (Part 2a of 2) - Excel Solutions (18:09)
  - TIA Solutions to the Spring 2020 LAM Exam (Part 2b of 2) - Excel Solutions (12:30)
  - TIA Solutions to the Fall 2020 LAM Exam will be released by approximately 3/15/2021 (handout)
  - Solutions to various Investment Guarantees (Hardy) questions from past LP exams (handout)
  - Solutions to various cluster modeling questions from LFV exams (handout)
- Exam Day Checklist/FAQ ...
  - Exam Day Checklist/FAQ - PDF Download (handout)
- Optional Bonus Materials ...
  - WATCH FIRST: How to Approach the Bonus Materials (3:30)
  - TIA Importance Sampling Example (Part 1a of 2) (12:12)
  - TIA Importance Sampling Example (Part 1b of 2) (12:27)
  - TIA Importance Sampling Example (Part 2 of 2) (9:39)
  - Bonus Practice Problems - Questions (handout)
  - Bonus Practice Problems - Solutions (handout)

Select your preference for the video player:

Select your preference for viewing TIA forums

Select your color preference for the study page

Exam ILA-LAM

TIA Studybeta

Everything you need to study all in one app.