How did you find the CT5 exam?

I thought it was pretty straightfoward but incredibly long. Did anyone else have time pressures? I think I had to leave out an entire 10+ mark question (the 2nd last one) which I'm a little bit concerned about

Overall I was happy with the paper, very fair paper.

 

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Would agree.
Time was a problem. Thought I was ok with an hr left for the 2 last 16 mark questions, but wan't able to complete them.
Felt I made some silly errors on other parts of the paper, e.g. the Thiele diff eq. question.

 

Yes it was too long. Could not do 12 marks at all due to time trouble. But overall the paper was straight forward. It concerns me, however, that all of you guys feel it was not difficult - hence the pass requirement will be high ...

Interesting that no questions about 2 lives were asked at all.

 

I thought the CT5 exam was well hard. I left out the 2nd to last question, thieles equation and the multiple state model question due to time pressure. Think I must have failed which is a shame cos I have studied loads for this one.

 

I thought that the questions were fair and a good representation of the course ... but I really really struggled on time. I did the ones that I found the easiest to start with and didn't get around to some of the questions at all - namely the multiple state question and the dependent to independent mortality/withdrawal question.

What I wrote I think was good ... but just didn't write enough. It sucks running out of time when you know your stuff!

 

I don't know what I will get on this one. I missed out about 9 to 14 marks. I got all the proof questions correct..nothing more satisfying than that 10 marks last question on quarterly premiums.

Otherwise I am thoroughly depressed.

 

Good work, I was slightly off on that quarterly premium question, nothing more depressing than when you are just a little bit shy of the answer! Grrr.

Bit concerned about whether I did enough to pass too. Spent ages on the decrement question, shouldn't really have taken so long. Had about 45 mins left for the last 2 mega-long questions but wasn't even able to attempt the 2nd last one!

Hmmm I've just realised from reading above comments, that there was nothing on two lives! Grr to all the study I did for that.

 

The decrement question: was uniformity in the multiple decrement table or in the single decrement table? Anyone remember...7 marks! It's consuming me

 

I forgot which is which, but it was such that you cannot use the formulae in the Tables - if I understand it correctly.

The calculations in this question were very long - I worked out the new values for one year en then wrote "for year X the calculations are similar" and moved on

 

F**k me. That is brilliant news. I went into this question gung ho assuming it was the same as the question in Q&A Bank 5 - the mock exam. Because of imposing time constraints...sometimes I do not read questions fully and immediately make assumptions I know what the question wants.

 

lol I could be wrong ...

 

uniformity in multiple decrements ie you couldnt use the formula in the book. you had to find the independent rates, modify those and then work backwards using either simultaneous eqns or updating formula. and yes it was a waste of time since it takes effing ages and all it does is demonstrate that you know how to do simultaneous eqns. I just left a note explaining how to do it to save time. I hope they arent clowns when marking since 90% of the paper was comprised of simple concept questions that just took ages to calculate rather than really testing our understanding. i hate these sorts of exams. anyways. thats my rant

 

lol. There were no assumptions. No wonder why I was vexed.

I have just seen the paper on the actuaries website - just released.

I used the assumption of uniformity in the mutiple decrement table like everybody else. There was no reason for me to assume this other than the fact that these are assumptions used in Q&A Bank 5.7. Beyers and Desmond what did u base it on.

 

You are correct - no assumptions stated. Seems it would be OK to use the table formulas. Maybe that would save a bit of time.

 

Question 12 solution

I know my net premium is correct at 418 or 428. but someone pls pls confirm the net reserve i got about -52 per policy i think. also the mortality profit/loss was about 50,000. my passing depends on this.

 

i absolutely agree - i also spent ages on that question and remember having about 2 pages of calculations and i don't even think i got to the end of it. ended up only having half an hour for the last 2 big ones. ran out of time hopelessly!!

 

Pls pls respond

Pls respond and gimme some hope

 

Is there anyone out there who actually completed the whole paper on time?

 

The mortality profit/loss figure rings a bell, but I can't remember my value exactly. I also managed to calculate a negative reserve, so you're not too far off the mark I guess.

Agree all around, the paper was fair but very long. I 'finished', but only by basically setting up the reserve calculation in the last question and explaining the necessary steps that follow. Of course, other questions were not entirely complete, but I hope the examiners appreciate a thorough attempt all around

 

I calculate the premium to be £257.48.

I make the reserve -£42.06 and the mortality profit -£50,182.17 i.e. a loss of around £50,182