Search Results

New exam schedule has been published along with exam registration notice:...

I am too taken aback? I was expecting it to be in Sep 22. This is straight 2 months earlier than the regular time schedule.

Hi Sneha, I just started CP2 yesterday and already done with 2 chapters. Material looks straightforward to me. I am planning to start CA3 next...

Just wrote CP1 in March21. The software is super dmooth. You shouldn't geel any issues writing exam with it.

Hi Sneha, I am planning to,along with CP3.

Reults are out!

This is because it is trivial to determine the complete path uniquely in n step binomial, while in lattice structure we cantt do this

For an option , the effect of time value and volatility value of money imply the same thing (higher time => higher chances of stock becoming in...

The time value for deeply in the money put will not be much significant, in fact as the time passes, the value of the option will increase, which...

Forget migrating and getting internship in UK, even if you complete MS from some UK university, it you are a foreign student, you may be asked to...

The liability is the guarantee amount, and by purchasing the put option, barring basis risk, the exposure of guarantee amount seems to have been...

:D :D :D

left censoring occurs when the exact time of event is not known because the experiment ended before that or the subject made a decrement in ways...

Not quite so! The assumption around the volatility can very well be relaxed, and we can have stochastic volatility as well. The important...

Not quite so! The assumption around the volatility can very well be relaxed, and we can have stochastic volatility as well. The important...

So we are essentially predicting conditional rates of claims only.

well mine is still slower than many of you guys..started CTs in 2010, finished by 2012. Since then passed only st6. Preparing for ST8 for May diet...

pass rate from IAI are better, 44% passed last sitting. Though in absolute, only 4 candidates passed

Difference between the two is the way these are used: exposure measure will be used in giving a rate for total premium. Hence it is important that...

An example from credit cards industry will be : exposure measure is credit line given on the card. A rating factor could be number of trades he...

other possible explanation is that the cds issuer assigns higher probabilities to the bond default scenarios, compared to the probabilities used...

in a theoretically perfect market, the CDS bond basis should be zero. However, it is possible that liquidity in cds market for that name is...

It is very sensible here. It is well understood that as the correlation of default increases, the senior tranches lose value (probability that...

For those working in GI pricing or underwriting, ST 8 is naturally easier. I work in retail bank lending on credit risk, modelling and...

More so, comparison with current rate isnt valid when the swap kicks in at time 15. The rate againt which strike rate should be compared then is...

The comparison should be with the forward swap rate ar time 15. This is the rate expected to be realized when the option becomes due for...

Compare the 5 year forward swap rate starting at time 15, as seen at time 2.

it is one of the easier papers, if you have some background in economics. I had it so didnt have to do anything other than reading the material...

depends on how these are used: if govt issues more of it, money supply goes down, it govt buys them back, reverse happens. However, note that...

If I remember correctly, K-M method does not allow the new increments during the experiment period, hence number of trials are fixed in advance :...

ST6 is indeed very tough to clear , though interesting as well. I cleared it in my last sitting from India. ST5 and 6 are a good combination, and...

along with hard work, there is a method to passing the exam as well.and yes, I did feel proud when I not only cleared my ST in last sitting, bit...

forgot quoting one important thing: you need to enjoy it to pass it!!

I sat for CT4 in may 2011, which had the pass rate of 5%, still. Cleared it!

you can take some solace from the fact that pass rate from India actuaries is ridiculously lower- below 20% and sometimes below 5%.. However,...

simple, they didnt meet the cutoff marks

and despite that so many pass and qualify!!

It all depends on the purpose of creating the SUV. For example, if the SPV is created to securitize the existing pool of assets (say...

It is also about the mindset of hirers. Companies do not want people 'who have not already seen things', and do not want them to learn on the job,...

To some extent true...many companies these days are not very keen on training people, more so when the hires are lateral

Try to find out where you are weak. If it the case that you generally do not like calculation oriented questions, then there is a real problem of...

Thanks Oxymoron

Icing on the cake: topped the exam as well!!!!! :D :D

IAI results out. Cleared ST6!!!:) :D

Results out!!

All of us are waiting. Last year it came around 8th August

this statement is very simple. It says that when we are measuring the change in any index over time, the calculation of the change will be correct...

QE simply means injecting money in the economy , so that liquidity is available at lowest possible cost (at least in intention, though not always...

could you tell me how many chapters are there in ST7, and how difficult is it managing both subjects at the same time? I have gone through ST8...

An increase in the FX rate means that domestic currency is depreciating against the foreign currency. This in general implies an oversupply of...

I am still wondering whether ST8 and 6 is a good combination or not. In India, not too sure specialization in finance from actuaries can help in...

It is best to develop a habit of fast thinking, because all the next levels in actuarial exams are going to be like unseen questions or twisted...

payoff of straddle is : if long: v shape if short (bottom vertical combination) : inverted v shape. the product you might be referring to...

Hi I am from Mumbai. I have cleared the CT series. Yes there are no coachings available. But if you need any help, do post on this forum.Will try...

when we say that the rho of option is positive, we mean that keeping other parameters' values unchanged, the effect of increasing rate is to...

Start with : 1. (1+theta) > exp(rd t) 2. Add to both sides -d => (1+theta) -d > exp(rd t) -d 3. Divide by (u-d) => ((1+theta) -d)/(u-d) >...

Consider Xt = f(Wt), then use Ito or Taylor's expansion. Use chain rule while dealing with Wt^2. Answer will be: dXt = 2WtdWt+dt

A course in Financial Engineering may add value, provided that you are interested in investments.

In India, employers tend to focus on perfect match on job requirement and past experience these days. Part of this tendency is explained by the...

On top of this, I find that hands on application/usages of the most of concets are absent in this profession, as well as in the industry at...

End of January....likely on 30th

Not sure about the perks in Analytic industry. I have worked in the same for 7 years, and haven't seen anyone moving up the ladder just because he...

A Chi square variable is nothing but square of a standard normal variable. Y= (X-E(X))^2/Var(X). The Var(X) is replaced with E(X), when...

Havent used the matrix oberation on it as I find solving the equations easier for me. :)

Do the following: 1. Use Ito's lemma on d(LogS1(t)), get the SDE for LogS1(t). 2. Recognize that d(LogS1(t)) is the SDE of the instantenous...

The MPR of the numeraire will be zero only, as we will be considering a money market account as the numeraire asset, which has zero volatility....

Looks like they didnt knew the answers themselves or failed to receive the answer scripts for publication !!!

From the chapter 27 , the MPR for any security is the volatility of the numeraire instruments. The choice of numeraire instrument is governmed by...

Hi Oxymoron, Just to add some theory behind it, to make forward rate a martingale , the numeraire here needed is the bond price maturing at...

Yes that is true..level of difficulty is correlated with the levl of preparation. This paper from April diet is preety easy..if you understand the...

Between 25th to 31st Jan 2013..

How about someone with 7-8 papers, statistical modeling and risk experience , good knowledge of databases , code writing (in total 5-7 years of...

Went through the October 2 Paper....though it is lengthy, it is preety easy...almost all the questions were doable if you understand the concepts...

Accuracy is generally an issue in CT 5 due to an overhelming amount of calculations involved. However , if the steps in solution were correct and...

Depends on what your apptitude exactly is regarding the topics... for some maths is fun so CT 8 is enjoyable, for others calculations are easy to...

Its not always necessarythatyou get your answer entirely correct . More important is that you show that the way you have treated items in your...

Regarding ST Choices Hi all, I need advice from you people regarding the choice of STs I will be taking in near future. I have just...

assuming the t-s is a very small quantity, (1+ (t-s)) ~ exp(t-s), hence your answer is the same as given in the text book :)

Regression model is : Yi = alpha*Xi + ei solve : Sum((ei)^2) = (.6 - *alpha)^2 + (1.8 - 3*alpha)^2 by least squares method.

In some questions you may find that a combination of reversionary benefits conditions are included, which may appear non-statndard (not listed in...

Even after practising the past exam papers from whichever institute you have worked on, always be ready for surprises, and positively expect them....

It is CT-5 I am talking about. You can do following to get there: 1. Couple of questions are routine, like premium calculations, Joint life...

Yep....generally it has been around 75. Maximum has been 87 with 100 marks attempt :)

I find difficult to understand what you mean by real...is it like they only can produce original/new ideas..run business innovatively..while...

Try solving past exam papers under strict exam conditions...then mark your answer sheet by comparing that with answer provided by the...

Better start going through the past exam papers..and the answer style they follow...try brain-stroming to generate as many point independently as...

I have been analysing past papers from both the societies for the last 3-4 years, and I have seen only 3-4 questions (numerical-problems) where...

It depends...generally if one has done 65 marks correct, fair chances of passing. However, this much when your attempt is more than 85 marks...

Thanks High91!

Oxymoron...check my PM...

How did it go for you High91

The results are out : http://114.143.131.98/Result_for_exam_diet.aspx

Yep the link is : http://114.143.131.98/Result_for_exam_diet.aspx And I cleared both CT 5 & 1 yipeeee.....