2022 Exam 9 Progress Thread

Exams - Study Groups and Discussion CAS Exam 9
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Planning to start studying early December. Might start reading BKM earlier. First fellowship exam for me

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You can derive those incurred cash flows as paid loss + (change in loss reserves) from the next line. Discounting the loss reserves has an effect of changing the incurred loss as well.

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I got two 5s using CC + Cookbook + Source. Can anyone recommend anything else?

I’m hoping I just passed 8 and this sitting of 9 will be my last exam.

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I think the only real other option is Rising Fellow. I have both, but I’m still in the same boat as you.

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Isn’t CF releasing something this year for exam 9?

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Besides act_123, anyone else here find 9 harder than 7?
Im trying to decide which exam to go for in spring.

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I passed 7 and failed 9, so I’m a bit biased, but I feel 7 has less room for the writers to get overly…creative.

Then again, I heard it got a lot harder since the last time I took it (Fall 2020)

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Thanks bro. Which study material did you use for 7 and 9?

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CF/RF combo for both, and they were at least sufficient for both. I blame my failing 9 on a choke job day of, not the study material.

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Thanks. That’s the $1500 right?

31

yup that’s the one

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The creative part was horrible for me. If u are good at puzzles 9 will be easier…

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I passed 7 first try and I’ve gotten two 5s on 9.

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Hey hippickles, just curious did u pass 7 in CBT environment or P&P?

I am writing 7 right now and I am just not sure about the CBT thing… I know I don’t want to standardized them residuals for Shapland using the crappy Pearson excel…:sob:

Edit: IMO cc itself isn’t sufficient. It’s a great supplement and I really like the integration questions she had. Well YMMV, depending on how much you get get from source.

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P&P in 2019

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Agree. CC assumes you’ve read the source.

IMO CC is best used to fill the void of lack of practice problems from the CF/RF combo. CF doesn’t have any practice problems at all. RF is good to learn the material, but is too ‘vanilla’ to be good exam practice.

CC probably doesn’t teach the material as well as CF (not fair to compare since CF has videos), but has good problem sets and great practice exams.

37

Kreps question:
On the TVaR table they give you (e.g. 2018 #19), what is the “Income is below” column? Is that VaR, as opposed to the TVaR in the other columns? It seems like it doesn’t get used in any of my practice questions (except by me, by mistake).

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I think the paper describes this. I think that represents net income. And how percentiles might be sorted. However you want to allocate based on the risk measure so the column gets ignored. Been awhile so I could be wrong…

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On the TVaR table they give you (e.g. 2018 #19), what is the “Income is below” column? Is that VaR, as opposed to the TVaR in the other columns?

Yes, the “Income is Below” column is the VaR. The average income of all simulations where the income is below that VaR level is the TVaR.

The nomenclature is a bit odd, but makes more sense if you go through the Kreps excel file. This is the term used in the Kreps paper in the table on pg. 53.

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Hi Steve, loved your cookbooks! Looking forward to getting your 2022 exam 7 cookbook and problem banks.