– Don’t Omit any part but give more stress on those chapter which constitute major part of 100 marks exam. At least one big question is expected from chapter 9,10,12,14 and 15.
– Theory and small question (2-4 marks) may add up to 20 marks.
– Thoroughly Solve Question Bank and X series along with past exam papers (minimum past 5 years paper). Don’t just go through it, sit and solve them even if you feel it is easy, or else you may go blank during exam due to lack of practice.
– Learn to understand the question as you may be asked to give “comment”, these comments can be given only if you have conceptual clarity of the topic.
– As soon as you receive the question paper, go through it and try to attempt those questions first which you are good at. Paper is generally lengthy making it difficult to complete in 3 hours time. Solve small question later.
– Don’t rely on actuarial tables, try to learn as many formulas as you can.
Most Expected type of Questions
Chapter 9– find annual/monthly/quarterly/half yearly installments, find loan outstanding at certain point, find principal and interest component, find revised installment after some changes in original loan agreement.
Chapter 10– Every topic is important but most likely is a long question on NPV or one question on MWRR, TWRR or LIRR. You may be asked for a comment like “which is better among TWRR and MWRR and why?”
Chapter 12– One Question on Index linked security is common in all past exams, others are important too. Don’t omit any part of this chapter.
Chapter 14– One question to check “immunization” is most likely.
Chapter 15– One question on Log Normal is common in past papers.
Note– Before you write your exam, make it clear in your mind that you can’t simply pass the exam by doing only book work, your concepts should be pretty clear.
– Be precise in what you write. Don’t write too long for questions that carry less marks or don’t write too less for questions that carry good marks.
– Write in legitimate hand writing.
– Please remember 1 marks = 1.8 minutes of exam time. Keep good speed. Write longer questions first as they are more scoring. Small questions might be some times tricky and may waste your time.
These are personal observation, there is no golden rule in Actuarial Exams. if you find it helpful, kindly share.