A numerical problem set and solutions have been posted to the web. Additional verbiage problems will be prepared over the next week and posted. Please email me if you have particular topics that are confusing you (email@example.com).
Please note that most, but not all, of the old exam problems in the problem set were covered in the live seminar and have video solutions.
On the FSA exams, the aim is to maximize partial credit, not necessarily get the “right” answer. To make the best use of your time when studying the numerical problems, pay attention to formulas that seem critical to setting up the problem. One example is operating gain = premium + investment income – claims – expenses – commissions. The questions usually give you some pieces outright (like expenses as a % of premium), make you calculate others (usually claims), and then you back into the final piece (like profit as a % of premium). The point is, if you remember to write the operating gain formula first, it is easier to organize your answer and not leave something out. It is also easier for the grader to understand your work and award partial credit. Keep your eye out for things like this as you practice problems.
After you have been through the problems once, you’ll probably spend 70%+ of your time on lists. When you go through the problems and watch the solutions, keep a list of things to review closer to the exam. You may not have time to go through all of the problems again, but there will be key formulas or ways to set up certain problems that would be good to review closer to exam day.