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

  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 IV Poster
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    Post Sections 14 and 15 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 14 – Aggregation of Insurance Data

    Section 15 – Insurance Data Aggregation Methods and External Insurance Data

    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

  8. #8
    Actuary.com - Level IV Poster
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    Post Sections 16 and 17 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 16 – The Use of Competitor Rate Filings and Third-Party Data by Insurance Companies and Criteria for Exposure Bases

    Section 17 – Exposure Bases, Methods for Aggregating Exposures, and In-Force Exposures

    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
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    Hi G. Stolyarov, great to see you taking CAS 5 by the horns! I will be sitting in May 2010 as well. I really respect the hard work you put into these problems which I plan to take a look at this sitting to some degree.

    I have to agree with you about the Werner and Modlin text - it's very nice! Thanks and best of luck with your work and studies.

  10. #10
    Actuary.com - Level IV Poster
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    Post

    Quote Originally Posted by alekhine4149 View Post
    Hi G. Stolyarov, great to see you taking CAS 5 by the horns! I will be sitting in May 2010 as well. I really respect the hard work you put into these problems which I plan to take a look at this sitting to some degree.

    I have to agree with you about the Werner and Modlin text - it's very nice! Thanks and best of luck with your work and studies.
    Thank you for your kind words! My best wishes to you for this exam; I am currently preparing for CPCU Exam 510, which has some overlap with the syllabus of CAS Exam 5. I will be taking CPCU 510 in mid-December, which will be a good way to gauge my progress in my studies thus far. Soon, I hope to incorporate the relevant material for that exam into this study guide, and afterward to continue with creating problems relating to the Werner and Modlin text.

    Sincerely,
    G. Stolyarov II

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