Exam ILA-LAM

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Registration is open for fall 2019 exams

Wed, 17 Jul 2019

Registration for all fall 2019 SOA exams is now open on the SOA’s site. Please don’t forget to register for the exam. The deadline is Monday, September 23.

What does it take to pass an FSA exam?

Wed, 10 Jul 2019

In January 2019, we surveyed our FSA exam customers to identify patterns in study habits. The survey was sent after candidates received their fall 2018 results. As with most surveys, response rates were fairly low, but we received over 350 usable responses and were able to discern some interesting patterns in study habits. In the sections … Continue reading

Fall 2019 study notes available

Thu, 06 Jun 2019

SOA study notes are now available for sale for fall on the SOA’s site.

LAM vs LRM – How Different?

Mon, 27 May 2019

As many of you know, this is the first sitting for the new LAM exam! Lately I’ve been getting a lot of questions about LAM vs LRM, so I wanted to collect some thoughts here. 1. LAM Syllabus: First of all, the LAM syllabus is very different from the LRM syllabus. You should think of it as … Continue reading

Introduction ... lessons ... min of video
- Introductory Materials ...
  - LAM Intro Video (9:34)
  - Fall 2019 LAM Release Date Schedule and Revision History (sample) (handout)
  - LAM Syllabus (handout)
  - How to Prepare for FSA Exams: Tips and Best Practices (25:50)
  - Using the Course Forum (11:12)
  - Fall 2019 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 ...
  - 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) (8:27)
  - B.1.6. LAM-136: Modeling, ASB, Third Exposure Draft (Part 1 of 2) (19:43)
  - B.1.6. LAM-136: Modeling, ASB, Third Exposure Draft (Part 2 of 2) (8:24)
  - 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. End to End Assumption Documentation Practices (17:44)
  - 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) (22:56)
  - 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
- PDF Flashcards ...
  - PDF Flashcard Download (1 per page and 3 per page formats) (handout)
- Condensed Outline ...
  - Condensed Outline (handout)
- Hardy Drill Problems ...
  - Questions Only (handout)
  - Questions and Solutions (handout)
- TIA Practice Exam ...
  - TIA Practice Exam - Questions Only (handout)
  - TIA Practice Exam - Questions and Solutions (handout)
- Spreadsheet Mapping of Relevant Past Exam Questions ...
  - Spreadsheet Mapping of Relevant Past Exam Questions (handout)

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