Hope you’re all studying hard.
Don’t forget to check out a couple of helpful notes from the CAS:
1. http://www.casact.org/admissions/index.cfm?fa=exampapers
2. http://www.casact.org/admissions/index.cfm?fa=examnotes
Also, I have posted a mini-practice exam which covers topics not focused on in my quizzes. The accounting questions are tough ones for students to write out on the exam, so it is good practice. I believe it should only take about 1:25, so it should be a good after work practice exam.
My inbox is empty. If you sent me a question, and I didn’t respond, then I either didn’t get it or I somehow deleted it. It seems I missed a few emails from students in the last week of September (based on follow-up responses). I’ll try to answer emails as they come in, but I will be traveling Tues-Sun. I’ll try to check my inbox in the evening.
Keep working hard. Good luck.
Ken News - 2009
I have posted some additional videos on some past exam problems. I thought it would be helpful to go through a couple of problems from 2007 – 2008 that discuss different trends in the data. Also, I posted another video with two additional past problems going over the Berquist-Sherman adjustment.
I have some additional quizzes that I’ll be posting over the next few days. Also later next week, I’ll post another new sample exam.
I have posted revised 2007 & 2008 CAS Past Exams with revised questions for the current syllabus. Few problems had to be changed. Also, I went through the 2005 & 2006 exams to match to the current syllabus.
2005
Questions no longer valid: 3, 6, 13, 15, 17, 21, 25d, 27 for a total of 12.5 points. #14 would have a revised solution from Ch. 11 and #22 is Ch. 12 reserve development method.
2006
Questions no longer valid: 3, 7, 8, 14, 19c, 34 for a total of 8.5 points. 13 mentions Wiser but is just from the intro to section II of Friedland.
For these two exams, eliminate the questions that are no longer valid, and only give yourself 3 hours to complete.
Finally, I’ve had quite a few extra emails this sitting. I’m trying to get through them all over the next week. I haven’t forgotten about it.
Study hard and good luck.
Ken
Ken News - 2009
Here are answers to some common questions.
I am in D.C. right now doing the last live seminar. Before the end of the seminar, I will post the new questions from Chapters 7 – 16.
I will record the remaining Friedland videos when I return home Sep 30 – Oct 3.
I plan on posting the first set of quizzes and first practice exam on Oct 1 and a second set on Oct 9.
Finally, we are working on notecards to view/download. The first set should be posted in a few days and the remaining next week.
Good luck studying.
Ken News - 2009
There seems to have been a problem with my naming convention of the new Friedland videos. Some people were getting old Wiser videos. I have now changes the file names. Please try again if you originally saw a Wiser video and not a Friedland video.
I am finishing up the Part II videos. They should be out tomorrow and I’ll start the Part III videos mid-week.
I started putting together some notecards. I’m trying to fit this in between videos. I’ll update you on progress at the end of the week.
I still owe you ASOP 43. I’ll work on this next weekend.
If you are attending the live seminar in Chicago, you should receive a schedule soon. As far as times go, it is Fri 8-6, Sat and Sun 8-5, Mon 8-6, and ending Tues 8-12. It is likely we’ll be done before 6 on Fri and Mon. I just want the option to keep going if we’re behind.
Good luck studying.
Ken Uncategorized
The Friedland manual is complete. I am just adding problems to chapter 16 this morning and will post. I will also be writing new problems as I am recording the videos. In each chapter, I have revised past exam problems that match the techniques and terminology of Friedland.
I will begin recording this afternoon. Videos will begin to be posted this week.
Things I’m still working on: Friedland videos, ASOP 43, new problems and quizzes, notecards, list of problems from old exams that are no longer on the syllabus.
Keep studying hard!
Ken Uncategorized
So, Chapter 13 is taking a little while. I’m trying to organize how I want to include some of the exhibits and slightly editing problems. It should be posted with plenty of problems tomorrow. The remaining chapters are pretty simple.
One note on the problem solutions. I noticed when revising all of the old Adler/Kline problems for chapter 11 that the solutions can get pretty long. I didn’t write the actual formulas that I used. When writing the exam, you’ll want to show some calculations. A good example of a well written solution is 2008 #4 (I posted all of the CAS model solutions – they are under the Introduction section of the study manual). This is a Berquist/Sherman problem. You need to find a good balance of showing your work and managing your time.
When going through problems, it is always good to write a few out, every day, like you would answer them on the exam. It is easy to just do the calculations to make sure you know how the method works and to see if you get the right answer. However, practicing how to write the solution may be the difference between a 5 and a pass.
Good luck studying.
Ken Uncategorized
Chapter 11 will be posted today and hopefully 13 tomorrow. These are chapters with very likely calculation problems. Hopefully, Ch 12 will also be there tomorrow. 14-16 and asop 43 will follow.
If you’re on your second pass, I suggest starting with the reinsurance and accounting. The Friedland videos will begin to be posted early September.
Good luck studying.
Ken
Ken Uncategorized
Conger
New Problem #8 – In calculating B, I used the wrong weights (70/30). I copied my formulas from another spreadsheet that I had put together and forgot to change the weights to 60/40. When corrected, the total W=0.0852, so I selected 0.085 (as opposed to 0.8). This changes the final answer to $25,816.
Myhr/Markham
2008#20 – I have the same answer for a & b. b should be the following: GAAP – expenses them in proportion to the policy’s term over its lifetime. Statutory – expenses them immediately as they’re incurred.
ERM (added 8/18)
2008#41 – I repeated the same answer for a & b. Part b should be
They do not address all types of risks – they address only financial risk.
They only focus on share price – they should focus on increasing value to all stakeholders,
not just shareholders (example: how do they increase customers’ value?)
That is all for now. As more are found, I will date them. Good luck studying.
Ken Errors/Typos - 2009
Make that Ch. 5 & 6 today. I didn’t realize 5 wasn’t out there.
I will get SOP 43 out after Friedland.
I will begin an Errata blog post that I will update. I know of two typos in problems I have. I will organize this by section/reading.
Ken News - 2009
Friedland will finally begin to be posted today. Preparing the notes, I’ve been getting my triangles in and organizing problems. I will post Ch. 6 today and also the Part II new problems (Ch. 3-6). Chapter 7 will be out later this week and I will continue to post a chapter about every day. Each chapter will have a past exam problem section. At the end, I will post a Part III new problem section. The videos will follow.
For some reason, I had a missing link to a Siewert video (video 2). I now have that fixed.
As soon as I finish the Friedland videos, I will begin putting together some notecards. This will be no sooner than late August. There is no reason to be memorizing any earlier.
Make it a great week.
Ken News - 2009