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I would have thought that being as forward looking as we are, we would have thrown somewhere into the 2019 syllabus topics on: Data analytics...

Am I right that in the previous marking 10 points short was an FD? I got 53 out of 63 in February for CA3

Are we allowed to discuss the information we received. Before we get into trouble? I see the forums are still open?

Am I correct in that we are no longer doing a presentation question but instead we are going to have 2 written questions as in the Mock Exam?

Isn't it necessary for customers to know the fees on the Capital release product? Or wasn't treating customers fairly an issue in 2012?

5.2 Be able to justify the choice of communication tool(s) for presenting numerical information (e.g. data tables, bar charts, line charts, pie...

Published this paper for the Actuarial Society of South Africa (ASSA) 2016 Convention in Cape-Town, South Africa....

When uploading my slides, I saw they text was very small. This makes it uncomfortable to present. I also added a white bold text on a green slide...

Hi all, does anyone know where I can get these? Also, is it a good idea to look at the Pre 2010 papers although syllabus was different?

Im wondering if this makes sense, it's only April and the session is full already? How come the non-practical exams never get full. Why can't the...

Friends there was a lot of debate in the past regarding the usefulness of this subject with many suggesting that all it can do is get you an...

I really don't see why Solvency II doesn't apply to them. I mean to be allowed to Invest Billions in a equities and then be defenceless against a...

A Long call option on futures with the following specs: futures price $50, strike $50, time to maturity 4.5 years, interest rate 8%, volatility...

Hi all, I saw this statement in a past ST9 paper and I would like to verify it if possible to use it in my stress testing of a portfolio with...

Hi, what do others think? I thought this was a wonderful display of what a “RISK” person should be…it was difficult for me but very enjoyable. I...

Hi Colin, How do you think the convergence arbitrage in the April 2008 paper HERE;- http://www.acted.co.uk/forums/showthread.php?t=565...

I am biased here with my interest in Infrastructure Investment....but when was the 3rd Edition of RAMP published? I read in the IFoAs...

Here the examiners' are getting it wrong....I don't care if I pass but I disagree. If someone's performance is being assessed by Return on Capital...

Hi all, I see the standardised formula does not have a weight for Insurance sold via a Bank, I was under the impression that Bancassurance is a...

2014 papers contained a lot of directly technical questions with the EVT question and the Correlation calcs :mad: and the MCR questions......

Aren't these ICAS, ICA outdated as is the Financial Services Authority, are there any Lloyds Syndicates that are still required to produce ICA?

Hi, Am I right in assuming there is no use of "the minimum capital requirement for banks is 8% of their RWA" in Basel II and III? It seems to...

Just to share with others that most of the questions in the old past papers were taken from this book, skimming through the chapters high level...

What happens when you are asked to list four factors and you list 8 to try and increase your chances of hitting the marking schedule?

The examiners report picks a side and insists that the M&A market will shrink, which I agree with since the default may spread across global...

I had suggested constructing a stripped MBS with Interest Only and Principal Only, as interest rates fall the PO becomes less valuable while the...

Am I right in that this part of the answer is no longer in the Core-reading, as is the relevant section of the notes? Page 12 of Chapter 11,...

The Actuarial Society (of South Africa), has announced the introduction of a new Fellowship Applications subject, namely Banking (F206). ASSA is...

Has anyone see this? And is it allowed, what if someone wrote the SA5 exam in April and revised this question and sat ST9 in September...

I notice the subject doesn't really require pulling different parts of the work into a whole but will pick one topic and pull 50 marks from it,...

Hi all, Let's post interesting staff we read here;- these are not necessarily the hottest issues but the staff that got you thinking a bit. Not...

Am I right in concluding that the role of a clearing house in the OTC markets (novation, netting, margining etc) is the same as the role it...

Hi, I just realised the second edition on Lam will be used for the 2015 exams, but I haven't bought it I still have the first edition. Should I...

Anyone knows what the current situation is regarding the clearing of OTC transactions? I remember when studying ST6 a few years ago that there...

Hi, I am sure that I'm missing something here, The question speaks bout NYSE.Liffe while the solution states the Euronext.Liffe answer, is this...

I think this textbook is redundant, there is very little you get from it that isn't in Sweeting, look at the Risk Mitigation chapter for example....

Am I correct in pointing out that this subject does not explicitly consider the mitigation of individual risks as is common with most Actuarial...

Hi all, Just to express my gratitude to the Acted tutors for their commentary on the notes, I studied this subject in 2010 and forgot most of it...

The definition of ES used by the BIS Basel Committe as part of the Trading book review that replaced VAR with ES seems to be referring to what in...

Hi all, I am busy with an exercise as part of building an Economic Capital model. Suppose I quantify my Lapse_risk to be 2000, and I use the...

Hi all, I am struggling with completing the table below comparing effects of different alternative forms to cash dividends, please help and...

Hi, are there any parts of the past papers where some of the things don't apply, especially given that there have been many changes in the world...

I am struggling to understand the difference between these two, let's use a simple example of a dry clean store. Exculpatory;- The dry...

Hi, I am not convinced that the strategy shown in the solution does "limit the downside risk on the portfolio" or "sacrifice some of the upside"....

Q 1 i) I seriously have no clue what part i of this question is asking for, nor what the statement is saying. I understand the part of Modigliani...

Hi all, In light of the fact that this is my second sitting, I will focus more on the core-reading, therefore I want to ask if the information...

From 6 April 2015 the starting rate of tax for savings income (such as bank or building society interest) will be reduced from 10% to 0% per cent...

How does the "valuation based on the joint-incremental net cashflow of the merger, attributed to the fact of the take-over alone" as the core...

Hi all, Question 1 part; (ii) So the idea here is that we should know all kinds of possible securities out there that increase almost on a daily...

Hi admin, For the practise module question 214, it says the beta of the assets remains constant at 0.6, I am unable to see where this comes from?...

I have liabilities that offer policyholders a guaranteed investment return at maturity. The payoff is simply max(Fund Value at maturity,...

Can't post anything, i keep on getting "acted database error". Please help

This question draws a lot from Chapter 4 which is really helpful, wish there were more of questions like this... I downloaded 2013 changes to...

Is Obama not violating some double taxation relief here by saying that US companies will pay tax on the profits earned overseas even if they don't...

Hi all, I am confused, can anyone see Haddon's theory applied in the examiners' solution?

Hi all, Just thought I should share some additional practise questions as set by the Institute of Actuaries of India (here);-...

Question (ii) (a) asks for a description of a model for projecting future profits. As I thought of it, this model is supposed to be a projection...

Hi all, Does anyone think they know where the Solvency 2 correlation matrices come from?... ....i.e where the 0.25 and 0.5's come from. It...

Hi all, Does anyone think they know where the Solvency 2 correlation matrices come from?... ....i.e where the 0.25 and 0.5's come from. It...

Hi all, Does anyone think they know where the Solvency 2 correlation matrices come from?... ....i.e where the 0.25 and 0.5's come from. It...

April 2005, q2 (ii) It is not clear to me how a company faces equity risk by issuing equity, I would assume that the equity risk here is faced by...

Does anyone know why these were banned in USA until recently?

Chapter 2 splits the role of the clearing house into futures markets and options markets, however it is not very clear to me if there is a...

Does anyone know where I get extensive calculation questions on Basel so I can familiarise myself with the process. I have done the ones in the...

Does anyone know where I get extensive calculation questions on Basel so I can familiarise myself with the process. I have done the ones in the...

Who else feels a deep desire to finish the exams and wants to share their journey? I feel an unsual sense of urgency to wrap up....is this...

Is it important to make sure I memorise all sections of the core - reading at SA level (or in particular for this SA) or some sections more likely...

Still laughing, this is ridiculous....and proud to have passed it first try in April 2013, in fact the only 'later' exam passed at first try.

Given that the first 6 parts are supposed to test understanding, I don't understand why we asked to know the features of German economy while...

How far should we go in this chapter, should I make sure I can explain how the Monte Carlo Simulation works and be able to value any kind of...

Hi all, I ran away from SA6 after I went through the notes and the subject is not was I was looking for as it is generally more of Asset...

In the notes no mention is made of ST9 as one of the previous subjects, however when preparing for my ST9 exam i took a look at SA6 past papers...

Hi admin, Are the 400 series papers a good way to exercise for the exam, or is the difference in the change of syllabus too huge?

If 2014 April paper is similar to tommorows in style it means;- 1. I can hone exam skills, go through the syllabus and sleep 2. Prepare to...

Hi all, ASET says that "if we wish to allow for correlations between the frequencies of the m operational risk categories then this will be...

Two questions;- 1) In the Acted course notes one of the advantages of MC Simulation is stated to be that;- "it is possible to simulate the...

Hi all, I would appreciate help with the following;- Queston 4 (v);- I don't understand the examiners' points below from the solution;-...

1) Ques_2, I had added under advantages the additional point that going for a future whilst not cancelling the forward means if prices rise again,...

Hi all, i thought I should start this thread for us to post and share what we think are the biggest Risk Management Case studies in the past 2...

Hi, Already the course is such a lot of work and requires different techniques for different parts. What do others think with regards to...

Hi, First someone please confirm that i am thinking right here;- KPI i assumed things like ROA, ROC KRI i assumed things like VAR, TVAR...

Here, we are asked to speak about the advantages and disadvantages of the two approaches as well as areas of improvements. A lot of detail is...

Hi all, while i posted earlier on the fact that parts (iii) and (iv)of this question were straightforward, it is part (i) and (ii) that are...

So many lists to remember for this subject, nearly as much as CA1. Has anybody started their cram session?

Can I confirm that the tutor's atleast sit the exam paper before seeing the examiners' report and compiling ASET because otherwise it won't make...

Hi, the question asks us to outline the process which should be followed to develop an internal by the company. Due o the overlap between...

I don’t understand why the examiner’s spoke about a correlation matrix for calculating the diversification benefi, in my attempt I tried to use a...

April 2011 q 6 (ii) speaks of calculating RAROE, the formula in the examiner's report does this by; RAROE = (Pre-dividend net of tax profits...

While the rest of the Chapters 10 - 28 easily make a whole since they are about careful selection of risks, listing them and then assessing how to...

Here;- Mainly poor credit risk modelling and management, their share was trading at less than 1 Rand by noon today....

Apart from the fact that this question is probably a Credit Migration question, I have no slightest clue of what the examiners are doing in their...

I still can't figure out what formula is shown in the examiner's report for part (i) (a)? i.e S = \(\sum\limits_{i=1}^{k}\)...

Hi all, Am i correct in assuming that question 3 of this paper referring to model validation process is no longer covered by the syllabus as I...

Hi all, Solution 3.30 suggests using regression analysis for Observable factor model and PCA for latent factor models. I had thought that...

Hi all, Just to share with those who believe in rigour. Convexity of a risk measure is a simple Mathematical property called Jensen's Inequality...

Hi all, The 2012 November SOA ERM paper Q2 (a) (ii) (HERE) calculates CTE (Conditional Tail Expectation) by the following formula;- CTE =...

Hi, Sweeting on page 260 introduces Parameter Uncertainty but I become confused when he explains how to allow for it. First he proposes using a...

Hi all, I bet for the first part of the course I expect bookwork questions, i.e parts 1 and 2. Then for the later parts of the course more...

Hi friends, here is a teaser;- Let's see if Actuaries can beat Quants at Communication. CEO - What's is a Copula? Quant; - Q1; Just...

Anybody who has done ST6 will easilly feel that the ST9 textbooks are quite descriptive for some concepts and not rigorous enough. It may be...