S.MONK is out the replace the old pattern of Teaching of Tradition Coaching Classes

devActuarial Science, Actuaries Comments

Under traditional course structure, we used to conduct lectures and take test. Most of the time it happens that tests are so many that they remain unchecked or were given to assistants to check which doesn’t give mentor a great idea of how student is performing and student doesn’t get real feed back.
We are scrapping this old test system to replace it by Open Book Exams, followed by Prelims and final exams. With this new patter, we are very much sure a student will be much better prepared for the real exam of the respective institutes. Details of new course structure is as follows.

New Course Structure of training of Actuarial Exams.
Actuarial Market is becoming more challenging and competitive and so are actuarial exams. To be able to help our students cope up and perform better we have planned a new study schedule taking inspiration from various universities across the globe.

Our Course will be divided into 3 parts namely LEARN, EVOLVE and APPLY.

LEARN
We will have Lectures for 4-5 hours every week for around 15 weeks which will extensively cover the syllabus for writing exams of Institute of Actuaries of India and/or Institute and Faculty of Actuaries, UK.

Students will be provided with a Practise Question Bank which will carry good number of Exam Style Questions to practice after lectures.

EVOLVE
Students will be provided with Assignments which they will have to solve at home and submit on scheduled dates. Assignments will carry 20-35 marks each and will require students to solve 4-5 exam style questions in each assignment.

Students can use any source to be able to solve this question, except discussing with classmates or friends. These assignments can be called as an open book exams that students will themselves write to evolve in the concepts that they have studied in classroom.

Strict deadline will be observed for submission of assignments. Assignments will be marked and results declared within a week of submission date.

APPLY
Students will have to write 3 compulsory exams before he/she appears for IAI/IFoA exams. There will be 2 Preliminary Exams and one Final exam conducted at our campus.

Syllabus will be covered partially in Preliminary exams and completely in Final Exam. Details are given in further pages of this document. Students may opt for additional exams if required. Results of all the exams will be published and feedback given to students within a week of date of Exam. Records will be maintained on online platform provided by our IT partners which will help students and Trainers to check Track Record of Students.

This will help students in identifying his/her good and bad points and work on them according.
(Please note- This program is applicable only for CT1, CT3 and CT5 for Mar/April 2017 Exams. Similar Course pattern will be developed for other CT papers too for September 2017 exams.)

More Details of our Program “EVOLVE”
Under our Program EVOLVE, Students will have to practise lot of questions themselves extensively and submit solved assignments on below mentioned dates.

CT1-Financial Mathematics
Topics covered
Assignments Submission Deadline
Interest rates and Cash flows including annuities
11th December 2016
Project Appraisal
25th December2016
Investments
15th January 2017
Loans and Forward Contracts
5th February 2017
Term Structure and Stochastic modelling of Interest rates
26th February 2017
IAI Exam Date – 21st March 2017
IFoA Exam Date – 18th April 2017

CT3- Probability and Mathematical Statistics
Topics covered
Assignments Submission Deadline
Sample Statistics, Probabilities and Generating functions
3rd December 2016
Joint Distributions
18th December 2016
Point Estimation and Confidence Intervals
15th January 2017
Hypothesis Testing
5th February 2017
Regression and analysis of Variances
19th February 2017
IAI Exam Date – 14th March 2017
IFoA Exam Date – 21st April 2017

CT5- General Insurance, Life and Health Contingencies
Topics covered
Assignments Submission Deadline
Basics Notations and Derivation relating to life Probabilities, Life Assurance and Life Annuities
27th November 2016
Single Life Policies (Pricing, reserving, Death Strains, Profits)
8th January 2017
Competing risk
29th January 2017
Profit Testing
12th February 2017
Joint Life
26th February 2017
IAI Exam Date – 22nd March 2017
IFoA Exam Date – 19th April 2017
Notes-
          –Feedback shall be given within a week of submission date. Submission strictly on or before deadline, no assignments will be accepted after submission date. Prior Approval required in exceptional cases.
         – Assignments should be hand written
        –  Legitimate hand writing expected. Assignments with poor presentation will not be accepted for marking.

Details of our Program “APPLY”
Under this program we shall conduct 2 preliminary exams and one final exams. Syllabus under each exam is as follows.

CT1-Financial Mathematics
Exam
Marks
Date
Timings
Prelim 1 (Chp1-7)
50
24th December
4pm-5.30pm
Prelim 2 (Chp 1-11)
75
29th January
3.30pm-5.30pm
Final Exam (Full Syllabus)
100
5th March
10.30am-1.30pm
IAI Exam Date – 21st March 2017
IFoA Exam Date – 18th April 2017
CT3- Probability and Mathematical Statistics
Exam
Marks
Date
Timings
Prelim 1 (Chp1-7)
50
7th January
2pm-3.30pm
Prelim 2 (Chp 1-12)
75
19th February
1.30pm-3.30pm
Final Exam (Full Syllabus)
100
4th March
10.30am-1.30pm
IAI Exam Date – 14th March 2017
IFoA Exam Date – 21st April 2017
CT5- General Insurance, Life and Health Contingencies
Exam
Marks
Date
Timings
Prelim 1 (Chp1-7)
60
22nd January
11.30am-1.15pm
Prelim 2 (Chp 1-7,10,12,13)
80
26th February
10.30am-12.30pm
Final Exam (Full Syllabus)
100
5th March
10.30am-1.30pm
IAI Exam Date – 22nd March 2017
IFoA Exam Date – 19th April 2017
Notes-
          – Feedback shall be given within a week of examination date. Students will not be allowed to have flexibility in dates and timings of exam. Exception may be accepted only in selected case, provided prior approval is taken from management.
          – Legitimate hand writing expected. Answer sheets with poor presentation will not be accepted for marking.
          – Final decision with dates and timings of exam rest with management.

*IMPORTANT NOTE*

We are currently working on incorporating practical training sessions into the curriculum. That may apply from next session after we are prepared with robust curriculum, but students who participate in current session will also be able to participate in “Computer Skills Program” to be held next session onward. 
Basically, under this program, every student will be trained to use computer softwares for topics covered in syllabus. Making a student more employable. 
Happy Actuarial Journey with S.MONK!