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  #1  
Old 07-31-2012, 04:19 PM
komorgan komorgan is offline
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Default FA - Task 1 - Can-Do

I know that in Task 1, we're supposed to propose possible improvements to the model.

I wanted to get peoples' opinion as to what they think is a better strategy for this task: Should you propose as many changes as possible, without going into too much detail OR is it better to just propose two or three well-thought-out ideas that you thoroughly elaborate on?
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Old 08-01-2012, 05:25 PM
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ANY advice on this matter would be much appreciated.
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Old 08-01-2012, 10:04 PM
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had about 3-6 changes with about 5 bullet points for each
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Old 08-02-2012, 05:01 PM
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You would think that as long as you suggest reasonable improvements and back them up you would be fine. But I was told on my feedback "There are aspects of the model that could be improved that you do not discuss" This means there are specific improvements that they have in mind and if you can't read their mind, you're screwed. Yes, mind reading is a "minimum requirement" for actuaries.
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Old 08-02-2012, 05:38 PM
Lemmie Check Lemmie Check is offline
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I got the same thing. Really helpful.
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Old 08-02-2012, 05:56 PM
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I got that as well, and after looking carefully at the first few pages of the FA, the ones describing the model, I was able to determine a couple items that may be an issue that I missed. After my first attempt, I didn't really read that part too thoroughly until this attempt.

Still waiting for results, though, so I can't say for sure if I did it right.
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Old 08-02-2012, 06:00 PM
DonchaKnow DonchaKnow is offline
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did u guys suggest anything with stochastic modeling that they asked for? if it wasn't in the question, i dont c how they can fail u for not being a good mind reader. after all, cando could be in an alternate universe where flat rate assumptions may be reasonable and pigs fly, who knows
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Old 08-02-2012, 06:11 PM
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Quote:
Originally Posted by DonchaKnow View Post
did u guys suggest anything with stochastic modeling that they asked for? if it wasn't in the question, i dont c how they can fail u for not being a good mind reader. after all, cando could be in an alternate universe where flat rate assumptions may be reasonable and pigs fly, who knows
Yes, I included about stochastic modelling. They were looking for more than just that.
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Old 08-02-2012, 06:15 PM
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Quote:
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Yes, I included about stochastic modelling. They were looking for more than just that.
well sht has hit the fan... jst submitted my 2nd attempt.
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Old 08-02-2012, 06:19 PM
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I don't think task 1 was my sole reason for not passing, so you may not have to worry.
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