Description of Manual - CAS Exam 3L

The solutions to the relevant questions from all released SOA Exams M and MLC, and from the Spring 2008 CAS Exam 3L, have been added to the 7th edition. Also, corrections of all known errata have been made.

This manual provides complete coverage of the syllabus for CAS Exam 3L.  In its 54 lessons, the following topics are reviewed:

• Estimation methods: method of moments and maximum likelihood
• Estimator quality: bias, consistency, and mean square error
• Linear regression
• Hypothesis testing and confidence intervals
• Chi square tests
• Neyman-Pearson’s lemma and likelihood ratio tests
• Order statistics
• Survival distributions and life tables
• Insurances
• Annuities
• Premiums
• Reserves
• Models for multiple lives
• Models for multiple decrements
• Markov chains
• Poisson processes

The manual has over 980 pages, over 1200 end-of-lesson exercises, plus about 180 examples, including both original and old exam questions, many of them taken from pre-2000 exams, which are not easily available, all with worked out solutions. In addition, there are seven 25-question practice exams. An appendix has a cross reference to help you track down lessons corresponding to published 2000 and later exam questions, and there is an index. Many students have found this manual adequate by itself for exam preparation, but references to the textbooks are provided in each lesson if you wish to use them.

Description of Manual -
Supplement to CAS 3L Manual for Students Taking SOA Exam MLC

(For an excerpt from this supplement, see the excerpt from the Exam MLC manual.)

This supplement is designed for CAS Exam 3L students who have purchased the ASM Exam 3L manual and wish to also try to get credit for that exam by passing SOA Exam MLC. The 2nd edition includes the solutions to the relevant questions from all released SOA exams M and MLC that were added to the Exam MLC manual. Also, corrections of all known errata have been made.

The supplement contains excerpts from the ASM Exam MLC manual covering all the material on that exam that is not on CAS Exam 3L, including:

• Exponential & hyperbolic interpolation of mortality between integral ages
• Select mortality
• Going between discrete and continuous insurances, annuities and premiums
• Advanced reserve topics such as Hattendorf’s theorem
• Contingent survival functions and common shock
• Associated single decrement tables
• Multiple-decrement insurances
• Expenses

Author’s Background:
Abraham Weishaus, Ph.D., F.S.A., CFA, M.A.A.A.

Financial reporting actuary for Guardian Life Insurance Company. Served on the SOA’s Education and Examination Committee for 11 years. Taught exam preparation courses for the Actuarial Society of Greater New York (ASNY) for 15 years.  Teaches exam preparation courses at St. John's University and seminars for CAMAR.