A.S.M. - Actuarial Study Materials

Exam P/Exam 1

by Krzysztof Ostaszewski, Ph.D., F.S.A., FSAS, CFA, CERA, M.A.A.A.

Dr. Ostaszewski is the author of the ASM manual for Exam P/Exam 1 and also teaches an exam preparation course for this exam.

Description of e-Course	The P/1 Coaching Actuaries e-Course has been co-developed by ASM and ADAPT to enable student mastery of the P/1 material. Unlike any online seminar in the market, this e-Course will provide you with: Complete copy of the ASM manual available online (non-downloadable, non-printable). For a detailed description of the ASM manual, including excerpts, see below. Complete theory presented by online video instruction. (The e-course is transitioning to Dr. Timothy Huffman, creator of the ADAPT concept, as the video instructor.) Video practice problems 20 practice exams Over 1,000 practice problems and solutions Unlimited access to ADAPT. For a detailed description of ADAPT, visit www.coachingactuaries.com. Direct author and instructor support via the Coaching Actuaries exclusive Actuaries4u A deluxe version of the e-course that includes a paper copy of the complete ASM manual is also available. For more details, including the terms of the subscription, special pricing for students, and any introductory offers, visit www.coachingactuaries.com.
Description of Manual - Exam P/Exam 1	Online study manuals (eManuals), with distinct benefits over paper manuals, such as practice problems in CBT format, electronic search capability and access to the authors. For more details, visit www.coachingactuaries.com. Free answers to questions about this manual for original purchasers! Just e-mail the author at krzysio@krzysio.net. Exam P/1 is, for most candidates, their first experience with professional actuarial examinations. Many candidates find this experience to be a great challenge, nearly overwhelming. This study manual is written for serious candidates, who want to be so prepared as to feel "underwhelmed" by the exam. A student who is really prepared by the day of the exam should be able to say: "Been There Done That" when looking at the problems. (The author of this manual calls this "The BTDT Rule".) This manual is written for a student who wants to be prepared like that, a student who does not want to count on luck on exam day. It covers every topic that can possibly show up on the exam, taking even the most difficult topics head-on and providing thoughtful explanations and examples for them. It also contains twenty practice examinations, with complete solutions. The first five examinations are somewhat easier, most likely on a par with the real exams. The last fifteen are intentionally harder, designed to make the real exam look relatively easy. Of course, these difficult examinations also have complete, fully-explained solutions. Understanding those solutions is an important part of the educational process. This manual has four core sections: General Probability Random Variables and Probability Distributions Multivariate Distributions Risk and Insurance These sections are divided into smaller subsections, each covering a specific topic, with detailed explanations, followed by exercises illustrating that topic, with complete solutions. This core is followed by twenty thirty-problem practice tests, with complete solutions. There are problems from past actuarial exams, but there are also many original problems. Candidates can treat this manual as their first probability textbook, since explanations of all topics are provided, and only solid knowledge of three semesters of calculus is assumed. Candidates are urged to read every page, every exercise and every practice exam, and make certain that they follow all of them in detail. Approximately 650 problems and 700 pages in all.
Description of Manual - Supplement - Three Practice Exams - Set 1	This manual consists of three full-length practice exams with complete solutions. These practice exams are a supplement to the primary ASM Exam P/1 manual (see above), which contains 20 practice exams. However, you can use this manual whether or not you have the primary ASM manual. The practice exams are intended to be at about the same level of difficulty as the actual exam.
Description of Manual - Supplement - Three Practice Exams - Set 2	This manual is similar to Set 1 of Three Practice Exams and it also consists of three full-length practice exams with complete solutions. These practice exams are a supplement to the primary ASM Exam P/1 manual (see above), which contains 20 practice exams. However, you can use this manual whether or not you have the primary ASM manual. The practice exams are intended to be at about the same level of difficulty as the actual exam.
Description of Manual - Supplement - Three Practice Exams - Set 3	This manual is similar to Set 1 of Three Practice Exams and it also consists of three full-length practice exams with complete solutions. These practice exams are a supplement to the primary ASM Exam P/1 manual (see above), which contains 20 practice exams. However, you can use this manual whether or not you have the primary ASM manual. The practice exams are intended to be at about the same level of difficulty as the actual exam.
Exam Preparation Courses	Dr. Ostaszewski teaches exam preparation courses at Illinois State University. For details, visit http://math.illinoisstate.edu/actuary/exams/prep_courses.shtml
Author's Background: Dr. Krzysztof Ostaszewski, Ph.D., F.S.A., FSAS, CFA, CERA, M.A.A.A.	Actuarial Program Director at Illinois State University, a Center of Actuarial Excellence. Dr. Ostaszewski is also the Director for Life and Pensions Research at the Geneva Association, International Association for the Study of Risk and Insurance Economics. He has taught actuarial science at Illinois State University, New England Actuarial Seminars, University of Louisville, University of Ulm, Washington University in St. Louis, EM Lyon, and Technical University of Lodz in Poland. He has also taught Summer Actuarial School in Poland, and Actex Professional Development Seminars. Dr. Ostaszewski has published four research monographs in actuarial mathematics, two in mathematics, was a Fulbright Research Fellow and a Fulbright Senior Specialist, and has published widely, including journals such as Proceedings of the American Mathematical Society, American Economic Review, North American Actuarial Journal, and many others. For his research work, he was the recipient of the prestigious Mehr Award of the American Risk and Insurance Association in 2005, and the Hardigree Award of the Western Risk and Insurance Association in 2003.