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What does it take to pass an FSA exam? (Part 2)

Thu, 09 Jan 2020

In January 2019, we surveyed our FSA exam customers to identify patterns in study habits during the fall 2018 sitting. You can read the results of that survey here. We repeated this same survey in July 2019 targeting exam candidates who took an FSA level exam during the spring 2019 sitting. We received over 440 responses … Continue reading

Solutions to various Hardy Investments Guarantees questions added

Mon, 14 Oct 2019

As you probably know, the Hardy book material on the new LAM syllabus was on the LP syllabus for a number of years. Today we added TIA solutions to various past Hardy questions to the course. You can find them under Spreadsheet Mapping of Relevant Past Exam Questions > Solutions to various Investment Guarantees (Hardy) … Continue reading

Upgrades to Seminar for Fall 2019

Sun, 13 Oct 2019

We posted a few bonus items to the course and I wanted to document them here: 1. TIA LAM Formula Sheet – the TIA LAM formula sheet is now posted in the supplementary materials section of the seminar! Keep in mind to read through page 2 for our recommendations on approaching the formula sheet 2. … Continue reading

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.

Introduction ... lessons ... min of video
- Introductory Materials ...
  - LAM Intro Video (9:34)
  - Spring 2020 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)
  - Spring 2020 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) (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 ...
  - TIA LAM Condensed Outline (handout)
- Formula Sheet ...
  - TIA LAM Formula Sheet (handout)
- Drill Problems ...
  - TIA LAM Drill Problem Set (Spring 2020) - Posted by 2/28/2020 (handout)
- 3 TIA Practice Exams ...
  - TIA Practice Exam #1 (Questions Only) (handout)
  - TIA Practice Exam #1 (Solutions) (handout)
  - TIA Practice Exam #2 (Questions Only) (handout)
  - TIA Practice Exam #2 (Solutions) (handout)
  - TIA Practice Exam #3 (Questions Only) (handout)
  - TIA Practice Exam #3 (Solutions) (handout)
- Spreadsheet Mapping of Relevant Past Exam Questions ...
  - Spreadsheet Mapping of Relevant Past Exam Questions (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)
- TIA Importance Sampling - Supplemental Example ...
  - 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)

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