# Fall 2020 Exam 7 Sitting **URL:** \ **Category:** CAS Exam 7\ **Created:** [September 23, 2020, 12:05am UTC](https://community.goactuary.com/t/fall-2020-exam-7-sitting/296 "2020-09-23T00:05:41Z")\ **Posts on this page:** 20\ **Page:** 3
**Author:** ![amp](https://community.goactuary.com/user_avatar/community.goactuary.com/amp/32/173_2.png) [@amp](https://community.goactuary.com/u/amp)\ **Post date:** [November 6, 2020, 1:19pm UTC](https://community.goactuary.com/t/fall-2020-exam-7-sitting/296/42 "2020-11-06T13:19:56Z")
I found 2016 to be about on par with 2011-2015, but it definitely tested Shapland a lot more heavily. I still have 2017-2019 to do and only 13 more days until I sit. I took the day off today, so I’ll probably work through 2017 in a bit. At this point the only points I’m getting off on the past exams I’m doing are from qualitative questions, so I feel really good. I’m just ready to get this over with and shift my focus towards 9. ---
**Author:** ![SkolChicago](https://community.goactuary.com/letter_avatar_proxy/v4/letter/s/bc8723/32.png) [@SkolChicago](https://community.goactuary.com/u/SkolChicago)\ **Post date:** [November 6, 2020, 10:44pm UTC](https://community.goactuary.com/t/fall-2020-exam-7-sitting/296/43 "2020-11-06T22:44:35Z")
So far I’m really annoyed that we have to study Brehm. It just feels like a really long broker white paper meant to attract clients rather than a useful practitioner’s guide for ERM. We’ll see if it gets better after chapter 2. ---
**Author:** ![xyz](https://community.goactuary.com/letter_avatar_proxy/v4/letter/x/b5a626/32.png) [@xyz](https://community.goactuary.com/u/xyz)\ **Post date:** [November 10, 2020, 4:52am UTC](https://community.goactuary.com/t/fall-2020-exam-7-sitting/296/44 "2020-11-10T04:52:35Z")
Just finished 2017. Calculation questions seemed ok - no surprise; The qualitative questions were a bit more in-depth than older exams. I used Casual Fellow (really like it) and never read the source. The exam questions asked something that I read in CF but couldn’t recall or recognize because it’s so not material (remind me of 6). Also, the sample solutions defined some answers as not “meaningful” - those answers were actually from people who used CF I think, meaning to get the full credit, you’d read the source. This part makes me a bit nervous. ---
**Author:** ![xyz](https://community.goactuary.com/letter_avatar_proxy/v4/letter/x/b5a626/32.png) [@xyz](https://community.goactuary.com/u/xyz)\ **Post date:** [November 10, 2020, 5:03am UTC](https://community.goactuary.com/t/fall-2020-exam-7-sitting/296/45 "2020-11-10T05:03:53Z")
another topic - just read the thread from CAS general section - people are worried that Pearson centers will close. oh boy… ---
**Author:** ![kadsura](https://community.goactuary.com/user_avatar/community.goactuary.com/kadsura/32/23091_2.png) [@kadsura](https://community.goactuary.com/u/kadsura)\ **Post date:** [November 10, 2020, 1:58pm UTC](https://community.goactuary.com/t/fall-2020-exam-7-sitting/296/46 "2020-11-10T13:58:44Z")
I feel like I’ve seen this amp guy and this Skol guy somewhere ---
**Author:** ![kadsura](https://community.goactuary.com/user_avatar/community.goactuary.com/kadsura/32/23091_2.png) [@kadsura](https://community.goactuary.com/u/kadsura)\ **Post date:** [November 10, 2020, 2:01pm UTC](https://community.goactuary.com/t/fall-2020-exam-7-sitting/296/47 "2020-11-10T14:01:55Z")
Doubling up isn’t easy and I’m scrambling a bit now. My worst fear is though, that my state will reinstate lockdown on non-essential activities and Prometric will be forced to shut down. The case trend is not looking good rn. ---
**Author:** ![kadsura](https://community.goactuary.com/user_avatar/community.goactuary.com/kadsura/32/23091_2.png) [@kadsura](https://community.goactuary.com/u/kadsura)\ **Post date:** [November 10, 2020, 3:40pm UTC](https://community.goactuary.com/t/fall-2020-exam-7-sitting/296/48 "2020-11-10T15:40:28Z")
What are the chances for option pricing being tested again for company valuation? Too many formulas to memorize already and black scholes is another long ass one. ---
**Author:** ![amp](https://community.goactuary.com/user_avatar/community.goactuary.com/amp/32/173_2.png) [@amp](https://community.goactuary.com/u/amp)\ **Post date:** [November 10, 2020, 3:43pm UTC](https://community.goactuary.com/t/fall-2020-exam-7-sitting/296/49 "2020-11-10T15:43:56Z")
This is my biggest fear too. I’m guessing there won’t be more than a mandatory mask mandate that’s more strictly enforced but you never know. ---
**Author:** ![amp](https://community.goactuary.com/user_avatar/community.goactuary.com/amp/32/173_2.png) [@amp](https://community.goactuary.com/u/amp)\ **Post date:** [November 10, 2020, 3:44pm UTC](https://community.goactuary.com/t/fall-2020-exam-7-sitting/296/50 "2020-11-10T15:44:35Z")
I’m memorizing the list from Goldfarb: Abandonment, Expansion, Contraction, Option to defer, Option to extend, but not memorizing any formulas for these. ---
**Author:** ![kadsura](https://community.goactuary.com/user_avatar/community.goactuary.com/kadsura/32/23091_2.png) [@kadsura](https://community.goactuary.com/u/kadsura)\ **Post date:** [November 10, 2020, 4:37pm UTC](https://community.goactuary.com/t/fall-2020-exam-7-sitting/296/51 "2020-11-10T16:37:31Z")
Are you memorizing the SE(R) calculations from Mack 94? I feel like that’s bound to be tested some day, but just haven’t seen it in exams. Or it could be there, I haven’t gone through all the past exams. ---
**Author:** ![exekias](https://community.goactuary.com/user_avatar/community.goactuary.com/exekias/32/138_2.png) [@exekias](https://community.goactuary.com/u/exekias)\ **Post date:** [November 10, 2020, 5:09pm UTC](https://community.goactuary.com/t/fall-2020-exam-7-sitting/296/52 "2020-11-10T17:09:27Z")
I learned the formula for calculating the S.E. of reserves for a single AY. I know he gives a formula for the S.E. of reserves for the whole triangle but that one seems too complicated to be on an exam. ---
**Author:** ![amp](https://community.goactuary.com/user_avatar/community.goactuary.com/amp/32/173_2.png) [@amp](https://community.goactuary.com/u/amp)\ **Post date:** [November 10, 2020, 5:10pm UTC](https://community.goactuary.com/t/fall-2020-exam-7-sitting/296/53 "2020-11-10T17:10:56Z")
The S.E. of reserves for a given AY was tested once in 2011. I learned it since my strategy is to just learn literally every calculation on the 2011-2019 sittings. I don’t know the calculation for the alphas though since that hasn’t been tested to my knowledge. (Still haven’t done the 2019 sitting yet). ---
**Author:** ![kadsura](https://community.goactuary.com/user_avatar/community.goactuary.com/kadsura/32/23091_2.png) [@kadsura](https://community.goactuary.com/u/kadsura)\ **Post date:** [November 10, 2020, 5:22pm UTC](https://community.goactuary.com/t/fall-2020-exam-7-sitting/296/54 "2020-11-10T17:22:10Z")
Our strategies are similar. I did manage to memorize the alpha^2 but my head is on the verge of explosion, and there are many areas I haven’t grasped well. So, debating if I should let these ones fade out of memory to make space for others… ---
**Author:** ![kadsura](https://community.goactuary.com/user_avatar/community.goactuary.com/kadsura/32/23091_2.png) [@kadsura](https://community.goactuary.com/u/kadsura)\ **Post date:** [November 10, 2020, 5:26pm UTC](https://community.goactuary.com/t/fall-2020-exam-7-sitting/296/55 "2020-11-10T17:26:19Z")
I seem to remember there was a past question on Alpha(I-1)^2. It isn’t a direct test on formula, but since then I thought it was fair game. ---
**Author:** ![SkolChicago](https://community.goactuary.com/letter_avatar_proxy/v4/letter/s/bc8723/32.png) [@SkolChicago](https://community.goactuary.com/u/SkolChicago)\ **Post date:** [November 10, 2020, 9:56pm UTC](https://community.goactuary.com/t/fall-2020-exam-7-sitting/296/56 "2020-11-10T21:56:34Z")
Super random question, what does the “\*” mean from Shapland in the following formula? q’(w,d) = r\*(abs(m))^.5 + m ---
**Author:** ![exekias](https://community.goactuary.com/user_avatar/community.goactuary.com/exekias/32/138_2.png) [@exekias](https://community.goactuary.com/u/exekias)\ **Post date:** [November 10, 2020, 10:37pm UTC](https://community.goactuary.com/t/fall-2020-exam-7-sitting/296/57 "2020-11-10T22:37:40Z")
It means that value came from a bootstrap sample. ---
**Author:** ![Rastiln](https://community.goactuary.com/user_avatar/community.goactuary.com/rastiln/32/77682_2.png) [@Rastiln](https://community.goactuary.com/u/Rastiln)\ **Post date:** [November 10, 2020, 10:40pm UTC](https://community.goactuary.com/t/fall-2020-exam-7-sitting/296/58 "2020-11-10T22:40:51Z")
Dang, exekias beat me to it, I made an account just to answer Skol! Yes, I think it’s saying it’s a sampled residual that may have come from any cell, not necessarily the cell it ended up in when bootstrap sampling. ---
**Author:** ![kadsura](https://community.goactuary.com/user_avatar/community.goactuary.com/kadsura/32/23091_2.png) [@kadsura](https://community.goactuary.com/u/kadsura)\ **Post date:** [November 10, 2020, 11:40pm UTC](https://community.goactuary.com/t/fall-2020-exam-7-sitting/296/59 "2020-11-10T23:40:18Z")
I had a small mental boom since I don’t remember seeing the abs() in the formula. Then quickly flipped through the manual and see that it is from the neg. inc. section. Whew ---
**Author:** ![piface](https://community.goactuary.com/letter_avatar_proxy/v4/letter/p/7993a0/32.png) [@piface](https://community.goactuary.com/u/piface)\ **Post date:** [November 11, 2020, 4:58am UTC](https://community.goactuary.com/t/fall-2020-exam-7-sitting/296/60 "2020-11-11T04:58:28Z")
Glad I found you guys!! ---
**Author:** ![kadsura](https://community.goactuary.com/user_avatar/community.goactuary.com/kadsura/32/23091_2.png) [@kadsura](https://community.goactuary.com/u/kadsura)\ **Post date:** [November 11, 2020, 4:42pm UTC](https://community.goactuary.com/t/fall-2020-exam-7-sitting/296/61 "2020-11-11T16:42:00Z")
For short answer/long answer questions, where do you wrap the text at? I type for about 15 words before changing line but was wondering if there may be a more elegant solution. I feel I need to know the graders screen resolution. [Previous page](https://community.goactuary.com/t/fall-2020-exam-7-sitting/296.md?page=2) [Next page](https://community.goactuary.com/t/fall-2020-exam-7-sitting/296.md?page=4)