Here I've compiled outlined notes of the CAS Exam 5 text on Reserving by Friedland. It is my hope that these notes be of some use to other CAS candidates or curious students in gaining more insight and understanding across a spectrum of topics within insurance, from the claims process to various basic techniques for estimating unpaid claims. The contents (whose formatting will be fixed) are as follows. Additionally, my . . .
"A company must finance its assets with capital. There are two primary sources of capital: debt and equity. That's how you end up with the fundamental accounting equation: $A=L+E$. "$L$" stands for liabilities, which is just another name for debt. The capital providers collectively own all the assets. The debt holders and equity holders own the assets. They provided the funds to buy the assets. When the company . . .
Just passed FM! I’ve been so busy lately with a great mix of things, but it’s a huge relief to pass my second exam. At this point I know I'll work to make this website informational and educational to help fellow aspiring actuaries grow. I’ll revisit my notes on P/1 and FM/2 to make study notes to supplement M Finan’s texts (which are fantastic . . .
This second installment of study notes for exam FM/2 covers determinants of interest rates. The objective like the first installment covering interest rate swaps is to provide studying for the FM exam with the key points and takeaways from the topic at hand. Determinants of Interest Rates is tested on the new syllabus for exam FM/2 with a weight of 0~10% according to the learning objectives syllabus. . . .
This is the first installment of additional study notes for exam FM/2. The objective of this study note is to provide other students with a streamlined review of new material tested for the exam in the new syllabus starting July 2017. Note that this is no replacement for the actual document; instead, this should be used as a sort of study guide. The full SOA article on interest rate . . .
Super stoked to receive a preliminary pass today for my first actuarial exam, Exam P/1. It's not much, but it's a huge step for me moving forward. I've been studying for a month and I'm really glad it went well. Next up for me will be FM/2 in October. It'll be a grind, but I'm looking to challenge myself and push my limits and encourage myself to get . . .