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Thread: The Actuary's Free Study Guide for Exam 5

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  1. #1
    Actuary.com - Level IV Poster
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    Post The Actuary's Free Study Guide for Exam 5

    Greetings.

    I have initiated a free online study guide for CAS Exam 5, which I myself plan to take during the May 2010 sitting. The purpose of this study guide is to give students a large number of introductory and intermediate-level problems for each concept so that, through practice, the concepts become firmly embedded in students' memories, thereby enabling them to tackle the more advanced problems.

    All sections of the study guide will be listed on this page as they are created: http://progressofliberty.today.com/5-study-guide/

    The first three sections are now available. They are based on the discussions of basic insurance concepts in Basic Ratemaking by Werner and Modlin – an excellent free e-text that has recently been released by the CAS: http://www.casact.org/pubs/Werner_Modlin_Ratemaking.pdf

    I expect the problems in the first few sections to mainly be gentle and to reinforce conceptual knowledge. Here are the titles of the individual sections available thus far:

    Section 1 – Exposures, Premium, Losses, and Claims

    Section 2 – Loss Reserves and Loss Adjustment Expenses

    Section 3 – Underwriting Expenses, Insurance Company Profits, and the Fundamental Insurance Equation

    I would advise you to work out the problems individually and then compare your work to the given solutions.

    I am also the author of The Actuary’s Free Study Guide for Exam 3F/Exam MFE - http://rationalargumentator.com/actu...uaryguide.html - as well as of The Actuary’s Free Study Guide for Exam 3L - http://progressofliberty.today.com/3l-study-guide/

    I am also in the process of writing The Actuary’s Free Study Guide for Exam 4C, my most extensive study guide to date: http://progressofliberty.today.com/4c-study-guide/

    I will be taking Exam 4/C in November of this year. Creating my study guide for that exam therefore takes priority for me at present – but I will be periodically updating the Exam 5 study guide as well, when I have spare time.

    Questions and discussion are welcome. Continual immersion in practice problems has helped me pass actuarial exams 1/P, 2/FM, 3F/MFE, and 3L. My creation of the free study guides for exams 3F/MFE and 3L was indispensable to my success on these exams, and the pages of my study guides have been visited hundreds of thousands of times by other actuarial students as well. I believe that my method can assist those preparing for Exam 5, at least insofar as it supplements and amplifies their existing preparation.

    Sincerely,
    G. Stolyarov II

    IMPORTANT UPDATE: I have moved The Actuary's Free Study Guide for Exam 5 to the following URL: http://rationalargumentator.com/actu...udy-guide.html

    All new sections, starting with Section 67, will only be posted to the new URL.
    Last edited by G. Stolyarov II; January 25th 2010 at 11:11 PM.

  2. #2
    Actuary.com - Level IV Poster
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    Post Sections 4 and 5 of Free Study Guide for Exam 5

    Greetings.

    Two new sections of The Actuary’s Free Study Guide for Exam 5 are now available. Each section offers 5 practice problems and solutions.

    Section 4 – Ratemaking Principles, Frequency, Severity, and Pure Premium

    Section 5 – Average Premium, Loss Ratio, Loss Adjustment Expense Ratio, Underwriting Expense Ratio, and Operating Expense Ratio

    You can find the index of all sections of the study guide to date at the following page: http://progressofliberty.today.com/5-study-guide/

    Questions are always welcome. Also, if you find errors in any of the problems, feel free to offer a correction.

    Sincerely,
    G. Stolyarov II

  3. #3
    Actuary.com - Level IV Poster
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    Post Sections 6, 7, and 8 of Free Study Guide for Exam 5

    Greetings.

    Three new sections of The Actuary’s Free Study Guide for Exam 5 are now available. Each section offers 5 practice problems and solutions.

    Section 6– Combined Ratio, Retention Ratio, and Close Ratio

    Section 7 – Rates, Rules, and Rating Algorithms

    Section 8 – Underwriting Guidelines and Rating Manuals

    You can find the index of all sections of the study guide to date at the following page: http://progressofliberty.today.com/5-study-guide/

    Questions are always welcome. Also, if you find errors in any of the problems, feel free to offer a correction.

    Sincerely,
    G. Stolyarov II

  4. #4
    Actuary.com - Level IV Poster
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    Post Sections 9 and 10 of Free Study Guide for Exam 5

    Greetings.

    Two new sections of The Actuary’s Free Study Guide for Exam 5 are now available. Each section offers 5 practice problems and solutions.

    Section 9 – A Fictional Rating Manual for Homeowners’ Insurance

    Section 10 – A Fictional Rating Manual for Medical Malpractice Insurance

    You can find the index of all sections of the study guide to date at the following page: http://progressofliberty.today.com/5-study-guide/

    Questions are always welcome. Also, if you find errors in any of the problems, feel free to offer a correction.

    Sincerely,
    G. Stolyarov II

  5. #5
    Actuary.com - Level IV Poster
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    Post Sections 11 and 12 of Free Study Guide for Exam 5

    Greetings.

    Two new sections of The Actuary’s Free Study Guide for Exam 5 are now available. Each section offers 5 practice problems and solutions.

    Section 11 – A Fictional Rating Manual for Workers’ Compensation Insurance

    Section 12 – Moral Hazard Versus Morale Hazard

    You can find the index of all sections of the study guide to date at the following page: http://progressofliberty.today.com/5-study-guide/

    Questions are always welcome. Also, if you find errors in any of the problems, feel free to offer a correction.

    Sincerely,
    G. Stolyarov II

  6. #6
    Actuary.com - Level IV Poster
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    Post Section 13 of Free Study Guide for Exam 5

    Greetings.

    Section 13 of The Actuary’s Free Study Guide for Exam 5 is now available via the URL below.

    It offers five practice problems and solutions regarding ratemaking data types, policy databases, and claims databases.

    You can find the index of all sections of the study guide to date at the following page: http://progressofliberty.today.com/5-study-guide/

    Questions are always welcome. Also, if you find errors in any of the problems, feel free to offer a correction.

    Sincerely,
    G. Stolyarov II

  7. #7
    Actuary.com - Level II Poster
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    Quote Originally Posted by G. Stolyarov II View Post
    Greetings.

    I have initiated a free online study guide for CAS Exam 5, which I myself plan to take during the May 2010 sitting. The purpose of this study guide is to give students a large number of introductory and intermediate-level problems for each concept so that, through practice, the concepts become firmly embedded in students' memories, thereby enabling them to tackle the more advanced problems.

    All sections of the study guide will be listed on this page as they are created: http://progressofliberty.today.com/5-study-guide/

    The first three sections are now available. They are based on the discussions of basic insurance concepts in Basic Ratemaking by Werner and Modlin – an excellent free e-text that has recently been released by the CAS: http://www.casact.org/pubs/Werner_Modlin_Ratemaking.pdf


    I expect the problems in the first few sections to mainly be gentle and to reinforce conceptual knowledge. Here are the titles of the individual sections available thus far:

    Section 1 – Exposures, Premium, Losses, and Claims

    Section 2 – Loss Reserves and Loss Adjustment Expenses

    Section 3 – Underwriting Expenses, Insurance Company Profits, and the Fundamental Insurance Equation

    I would advise you to work out the problems individually and then compare your work to the given solutions.

    I am also the author of The Actuary’s Free Study Guide for Exam 3F/Exam MFE - http://rationalargumentator.com/actu...uaryguide.html - as well as of The Actuary’s Free Study Guide for Exam 3L - http://progressofliberty.today.com/3l-study-guide/

    I am also in the process of writing The Actuary’s Free Study Guide for Exam 4C, my most extensive study guide to date: http://progressofliberty.today.com/4c-study-guide/

    I will be taking Exam 4/C in November of this year. Creating my study guide for that exam therefore takes priority for me at present – but I will be periodically updating the Exam 5 study guide as well, when I have spare time.

    Questions and discussion are welcome. Continual immersion in practice problems has helped me pass actuarial exams 1/P, 2/FM, 3F/MFE, and 3L. My creation of the free study guides for exams 3F/MFE and 3L was indispensable to my success on these exams, and the pages of my study guides have been visited hundreds of thousands of times by other actuarial students as well. I believe that my method can assist those preparing for Exam 5, at least insofar as it supplements and amplifies their existing preparation.

    Sincerely,
    G. Stolyarov II
    Thank You. I appreciate your efforts. Are you planning a study guide for CAS Exam 6? Loss-Reserve Estimation for P&C actuaries is of particular interest to me
    Last edited by R_T; December 26th 2009 at 09:46 PM.

  8. #8
    Actuary.com - Level IV Poster
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    Post Section 41 of Free Study Guide for Exam 5

    Greetings.

    A new section of The Actuary’s Free Study Guide for Exam 5 is now available:

    Section 41– Calculations Pertaining to Workers’ Compensation Insurance Benefit Levels

    You can find the index of all sections of the study guide to date at the following page: http://progressofliberty.today.com/5-study-guide/

    Questions are always welcome. Also, if you find errors in any of the problems, feel free to offer a correction.

    Sincerely,
    G. Stolyarov II

  9. #9
    Actuary.com - Level IV Poster
    Join Date
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    Post

    Quote Originally Posted by R_T View Post
    Thank You. As a fellow CAS student, I appreciate your efforts. Are you planning a study guide for CAS Exam 6? Loss-Reserve Estimation for P&C actuaries is of particular interest to me:coolman:
    Thank you for your kind words! I will be writing a study guide for CAS Exam 6 beginning in the summer of 2010, as I plan to take that exam during the Fall 2010 sitting.

    Sincerely,
    G. Stolyarov II

  10. #10
    Actuary.com - Level IV Poster
    Join Date
    Feb 2008
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    NV
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    Post Section 42 of Free Study Guide for Exam 5

    Greetings.

    A new section of The Actuary’s Free Study Guide for Exam 5 is now available:

    Section 42– Analysis of Insurance Losses Using the Parallelogram Method and Age-to-Age Development Factors

    You can find the index of all sections of the study guide to date at the following page: http://progressofliberty.today.com/5-study-guide/

    Questions are always welcome. Also, if you find errors in any of the problems, feel free to offer a correction.

    Sincerely,
    G. Stolyarov II

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