PDA

View Full Version : MAT 380 & SOA exam MLC


daanglen
August 17th 2007, 09:25 AM
I'm taking MAT 380 this fall, do you think I should try to take exam MLC in Nov or next May?

Thank you!
MathForMarines
August 17th 2007, 05:20 PM
Fall 2006 I took 380 and 383, which were the classes for the former exam M. I started out planning to take M, but changed my mind since I had already passed FM that May and P that August.

If I could do it over again, I would have taken it. Today I am studying for 3 or MLC/MFE for this Fall after passing C this May, and I don't think I will know that material as well as I did back then.


I'm taking MAT 380 this fall, do you think I should try to take exam MLC in Nov or next May?

Thank you!
daanglen
August 19th 2007, 08:08 AM
~Thanks for your reply! Fall 2007 exam MLC is on Nov. 6. Thus, I have about 11 weeks to prepare for the exam. For the class, we are using Models for Quantifying Risk. What study manual are you using to prepare MLC right now?



Fall 2006 I took 380 and 383, which were the classes for the former exam M. I started out planning to take M, but changed my mind since I had already passed FM that May and P that August.

If I could do it over again, I would have taken it. Today I am studying for 3 or MLC/MFE for this Fall after passing C this May, and I don't think I will know that material as well as I did back then.
MathForMarines
August 19th 2007, 06:15 PM
~Thanks for your reply! Fall 2007 exam MLC is on Nov. 6. Thus, I have about 11 weeks to prepare for the exam. For the class, we are using Models for Quantifying Risk. What study manual are you using to prepare MLC right now?

My situation is a little unique. I have accepted a full time job offer, in which I get to choose the area in which I want to work. I have internship experience in Pension, Life, and Property/Casualty.

Right now, I have the ASM CAS 3 manual. I have a few weeks left to decide which area I would like to have a career in, and if I choose something other than P/C, I will have to take MLC/MFE instead of CAS 3, so I will order the ASM supplement for those studying for MLC/MFE in addition to CAS 3.
daanglen
August 22nd 2007, 10:06 PM
Do you think having two months to prepare for MLC is enough?
P.S. this material is totally new to me.


My situation is a little unique. I have accepted a full time job offer, in which I get to choose the area in which I want to work. I have internship experience in Pension, Life, and Property/Casualty.

Right now, I have the ASM CAS 3 manual. I have a few weeks left to decide which area I would like to have a career in, and if I choose something other than P/C, I will have to take MLC/MFE instead of CAS 3, so I will order the ASM supplement for those studying for MLC/MFE in addition to CAS 3.
MathForMarines
August 23rd 2007, 11:14 PM
I think that you could do it, if you are willing to put in the work. Note that this exam is on a different level than P and FM. Being in the class will help a lot, plus you will find that the material builds on itself, so once you know the basics, the rest isn't too bad.

It does depend on your abilities too. Did you already pass P and FM? That would definitely help, since the life con material is based of off calculus based probability(exam P) and incorporates financial products(exam FM) by making payments subject not only to interest discounting, but mortality discounting. Did you do well on those exams, or just barely pass? The better you know the fundamental concepts(P & FM) the easier it will be for you to learn to price life insurance & annuities, set premiums and reserves, etc. But it is definitely doable.

Also, if you are not aware, I am leading the Exam 3/MLC/MFE study group this semester, so you could always join the group in order to learn the material better. I took 380 last fall, and I am going to either take 3 or MLC & MFE this fall.


Do you think having two months to prepare for MLC is enough?
P.S. this material is totally new to me.
daanglen
August 24th 2007, 09:57 PM
~Thanks for the advise.


I think that you could do it, if you are willing to put in the work. Note that this exam is on a different level than P and FM. Being in the class will help a lot, plus you will find that the material builds on itself, so once you know the basics, the rest isn't too bad.

It does depend on your abilities too. Did you already pass P and FM? That would definitely help, since the life con material is based of off calculus based probability(exam P) and incorporates financial products(exam FM) by making payments subject not only to interest discounting, but mortality discounting. Did you do well on those exams, or just barely pass? The better you know the fundamental concepts(P & FM) the easier it will be for you to learn to price life insurance & annuities, set premiums and reserves, etc. But it is definitely doable.

Also, if you are not aware, I am leading the Exam 3/MLC/MFE study group this semester, so you could always join the group in order to learn the material better. I took 380 last fall, and I am going to either take 3 or MLC & MFE this fall.