Hi, I wrote Life specialist exams in the previous session and now I'm attempting ST1 in the upcoming session in October. We used to have very active discussions on the forum for both ST2 and SA2, but this section of the forum seems to be a bit less active in comparison. I wonder why this is the case... perhaps relatively fewer people write this subject? Is anybody writing in the upcoming session and, if so, what part of the syllabus or exam questions are you finding the hardest?
I am sitting ST1 in5 weeks. For me the course is very similar to ST2 but since I have not worked with a lot of these products before I am still getting to know the features etc. I have found chapter 16 Pricing for IP to be long and tedious. I am not overly comfortable with this but it doesn't seem to be examined often, more so examined are the actual factors etc. Most of the rest of the course I have found ok, thanks mostly to ST2 study. I am trying to figure out though where most people focus their attention for study?
I'm trying to focus my study mainly on the various products and their features and risks (e.g. replacement ratio, deferred period, survival period, reviewable premiums and benefits, NCD, recuperation benefits, unit-linked, with-profits, tiered benefits, pre-authorisation, etc...). I feel that there is a bigger focus on the products in ST1 than in ST2. Whereas there is a lot of focus on with-profits and unit-linked concepts in ST2, ST1 seems to focus on the application of the various health products to pricing, valuation, embedded value, etc. The significance of government as a stakeholder has also increased compared to ST2 as there is a whole chapter assigned to it. Pricing conceptually is similar to ST2 for the inception/annuity approach and for multi-state approach, revision of transition probability is probably sufficient. I feel that group pricing is also a concept that cannot be ignored as there is a need for understanding of experience rate, book rate and credibility factor, which may be unfamiliar to some people.
