Exam P Notes
Deeper Understanding, Faster Calculation
--Exam P Insights & Shortcuts
2nd Edition
by Yufeng Guo
For SOA Exam P/CAS Exam 1 in Fall, 2005
Exam Dates
September 26-28, Canada and U.S.
September 26 - all other countries
This manual was last updated June 5, 2005
This electronic book is intended for individual buyer use for the sole purpose of preparing for
Exam P. This book can NOT be resold to others or shared with others. No part of this publication may be reproduced for resale or multiple copy distribution without the express written permission of the author.
© 2005 By Yufeng Guo
Page 1 of 276
Fall 2005: P Insights & Shortcuts
© 2005 Yufeng Guo
Chapter 1 Exam-taking and study strategy .................................................... 3
Top Horse, Middle Horse, Weak Horse.......................................................................... 3
Truths about Exam P....................................................................................................... 4
Why good candidates fail................................................................................................ 7
Recommended study method.......................................................................................... 9
Chapter 2 Doing calculations 100% correct 100% of the time ............... 11
What calculators to use for Exam P.............................................................................. 11
Critical calculator tips ........................................................................................... 16
Comparison of 3 best calculators (summary): .............................................................. 23
Chapter 3 Find E ( X ),Var ( X ), E ( X | Y ),Var ( X | Y ) ........................................... 27
Chapter 4 Set, sample space, probability....................................................... 44
Chapter 5 Multiplication/addition rule, counting problems ................... 53
Chapter 6
--Exam P Insights & Shortcuts
2nd Edition
by Yufeng Guo
For SOA Exam P/CAS Exam 1 in Fall, 2005
Exam Dates
September 26-28, Canada and U.S.
September 26 - all other countries
This manual was last updated June 5, 2005
This electronic book is intended for individual buyer use for the sole purpose of preparing for
Exam P. This book can NOT be resold to others or shared with others. No part of this publication may be reproduced for resale or multiple copy distribution without the express written permission of the author.
© 2005 By Yufeng Guo
Page 1 of 276
Fall 2005: P Insights & Shortcuts
© 2005 Yufeng Guo
Chapter 1 Exam-taking and study strategy .................................................... 3
Top Horse, Middle Horse, Weak Horse.......................................................................... 3
Truths about Exam P....................................................................................................... 4
Why good candidates fail................................................................................................ 7
Recommended study method.......................................................................................... 9
Chapter 2 Doing calculations 100% correct 100% of the time ............... 11
What calculators to use for Exam P.............................................................................. 11
Critical calculator tips ........................................................................................... 16
Comparison of 3 best calculators (summary): .............................................................. 23
Chapter 3 Find E ( X ),Var ( X ), E ( X | Y ),Var ( X | Y ) ........................................... 27
Chapter 4 Set, sample space, probability....................................................... 44
Chapter 5 Multiplication/addition rule, counting problems ................... 53
Chapter 6