clairegirl said:
The final has tricky questions that don't correspond to how the tutes are or the quizzes either
Good point about the finals... If you don't have the ability to see things mathematically, then it's easy to struggle in techniques, hence why actuaries tend to go really well in acst101.
Our exam last year was out of 75. 45 multiple choice, and 30 write-in-your-own-answer type things. Multiple choice was split up into techniques (22 questions) and elements (23 questions), techniques being the maths and the elements being the memorisation of facts.
For multiple choice techniques, there won't be heaps of questions just asking you to plug in numbers, but a fair few of them will be testing your ability to manipulate formulas etc, such as "Which one of the following is equal to the sum of payments a-|n" n it'll give you 5 examples, and you'd have to pick which one is correct. If you're not good at manipulating stuff mathematically, it can be difficult.
Multiple choice elements is basically memorising the lecture notes, that's it. But the majority of the questions (I remember last year, 17 of the 23) are questions that are, for example, "Which one of the following is NOT an example of a futures contract" which can get tricky if you don't know your material.
The other 30 marks are sort of like the practice tests you get throughout the year, but without elements, only techniques. You should be able to pass this bit because there will be easy marks scattered throughout. Also for this, make sure you know how to do annuities and loans REALLY well. There will be a fair few marks allotted to annuities, so know them.
They'll put up past papers before the exam, and after going through them, you'll see how it's all formatted and you should be fine.