Important websites for you to know about
June 13th, 2007
The SOA and CAS have created beanactuary.org, which has a lot of basic information about the exam that you should know about. In particular, it includes the exam rules. You should also know about this study note that was written for the exam. The study note is the only part of the syllabus that is labeled as “required” reading, as all of the text books on the syllabus are only recommended, so I think it is important that you read it. The exam writers always ask some questions that are on material in this study note that are not found in most of the other readings (such as the coefficient of variation). I will try to point these out during the lessons, but it is still worth looking at the source.
What should we be getting out of the study note? Have there been/are there likely to be theory questions about the insurance industry?
There are 4 things that you need to know from the study note. 1) What is the coefficient of variation 2) How do deductibles and payment limits work 3) What is net premium and 4) They assume that inflation affects all basic costs. All of this is covered in the practice problems and exams, but it is useful to see the source and in particular look at their examples in case they decide to modify an example for an exam question.