Got screwed by the SOA

The Interim Assessment will be released during the first quarter of 2008. Candidate progression will NOT be delayed as the timing of the release is consistent with the schedule that would have been in place if FAP Exam 1 was to be continued into 2008.

Damn. Hope this won't pan out so I'll feel better.

Candidates who have passed FAP Exam 1 will NOT complete the Interim Assessment.

The Module 5 End-of-Module Exercise will be removed on December 1, 2007. During the transition period (i.e., between December 1 and the rollout of the Interim Assessment) candidates will be able to proceed to Module 6 BEFORE completing the Interim Assessment. When the Interim Assessment is released in 2008, candidates will submit their assessments and upon submission will get access to Module 6.

Not bad; SOA does something right for a change.

Candidates will complete the Interim Assessment under controlled conditions with formal grading (i.e., every Interim Assessment will be formally graded). Candidates will have one month to complete the Interim Assessment. A one-month personal assessment clock will start when candidates download the Interim Assessment. Candidates must submit (upload) assessment files before the clock expires. If the clock expires, the assessment will receive an automatic grade of “does not meet minimum requirements” and the SOA will be unable to reverse the decision. NO exceptions will be made.

One month?!? Double-You-Tee-Eff!!!

Modules 1-5: Completed.

Four weeks of hell ending today at 10:30pm with the submission of my module 5 EOM exercise. Fuck yeah w00t hoooooo!!!! FAP Exam 1 here I come. I hate the SOA even more with the submission of this exercise: the model solution is only four frigging pages!

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As my reward to finishing modules 1 to 5, I wasted most of today playing AvP 2. I finished the marine campaign; it was pretty fun. It was sort of a 'spray and pray' shooter since the aliens move so insanely fast and runs all over the walls and ceiling. I started the predator campaign as well. So far I don't like as much--I hate Mario platform jumping in a FPS.

To do's: Stat450, Acma425, Acma465 (all due on Thursday), and code for 490. *sigh...

Dumbest SOA Review Question (yet)

Some components of a gross premium pricing model are determinable from past experience. Other components may be influenced by precedent. All components are also affected by external influences. Factors other than a financial security system’s experience must be considered in establishing values for these gross premium components.

When setting assumptions for a gross premium pricing model, which of the following components do you think would be influenced by external factors? (Select all that apply.)

Choice 1 Commissions
Choice 2 Administration Expenses
Choice 3 Interest
Choice 4 Percentage of Premium Expenses

Jeez, I wonder if I should select ALL of them...

Module 3 EOM Exercise

This exercise sucks. The instructions are not clear when I compared it with the model solution's requirement. The wording of whole exercise is biased toward one method but model solution focuses a lot on comparisons. And let's not forget the vague requirements: where did it say I can accept failure in the instructions!? Apparently only in the kind words left by others in the forum.

Anyways, it's a confusing mess if you don't have experience with the mumbo-jumbos in pension legislations. It took me a few reads to fully understand what's going on.

But overall I think Module 3 is actually interesting... unlike the mindless readings of 2.

On to Module 4, which anecdotally has a very easy exercise. I like it already.