Hi I had a quick question Which chapters for ST1 overlap with ST2 ? Ie they are virtually the same in both courses Which chapters would u say are the most tricky in ST1 ? The exam would there normally be calculation questions ? How much are they normally worth ? Thanks very much
The chapters are never exactly the same between ST1 and ST2, but some of the sections within the chapters are virtually identical. For example the ST1 and ST2 courses are very similar for the following topics: some parts of the general business environment (eg regulatory restrictions, tax, professional guidance), some aspects of modelling, mortality/morbidity options, reserving principles, many of the risks, many of the reinsurance products, investment, some aspects of monitoring. Students find that ST2 helps a lot with the topics mentioned above. However, numerical pricing questions using the sickness tables can be tricky as they are very different to ST2. The products are also very different for ST1, so having a good grasp of product features, needs and risks is very important. Calculation questions have been very common in the past in ST1, although we don't have a calculation in every sitting. We have seen calculations in topics such as pricing, costing options, reserving and reinsurance. Numerical questions can be for as little as 2 marks (as part of a longer discursive question). However, longer numerical questions have also been asked, eg September 2009 Q5 had 15 marks for a group PMI premium calculation. Good luck with the exam. Mark
