flashcards for soa exam srm - actuarial study materials...2019/11/12 · exam srm these ashcards...
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Actuarial Study MaterialsLearning Made Easier
©Copyright 2020 by Actuarial Study Materials (A.S.M.), PO Box 69, Greenland, NH 03840. All rights reserved.
Reproduction in whole or in part without express written permission from the publisher is strictly prohibited.
Flashcards for SOA Exam SRM2nd Edition
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Introductory Note for ASM Flashcards forExam SRM
These flashcards will help you remember important formulas and con-cepts for Exam SRM. This introduction discusses the features of the cards.
On the back of each card, the left header states the broad topic for thecard’s content.
The left footer provides a cross-reference to the lesson number, pagenumber, and table or formula number where applicable, of the secondedition of the ASM SRMmanual.
On both the front and the back of each card, the right header indicatesthe importance of the card. The rating system is given in Table 1.
These flashcards are based on the ASM SRM manual 2nd edition. Thepagination of the 1st edition (both printings) is different, but the lessonsand formula numbers are the same.
While flashcards are a useful study aid, they do not replace workingout tons of exercises. Flashcards are limited to formulas or concepts thatcan be expressed briefly on a card. The number of flashcards for a topic
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depends on the number of formulas for that topic, but is not necessarily ameasure of the importance of a topic.
If you find any errors in these cards, check the errata list at
errata.aceyourexams.net
If the error is not listed there, please send them to the publisher at
or send them to me directly at
When you send errata in, identify this publication as “SRM Flashcards, 2ndedition”.
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Table 1: Rating system
Exam SRM is fairly new, so ratings are somewhat speculative.88888 Essential—appears repeatedly on every exam8888 Important—appears on every exam888 Average importance—regularly appears on exams88 Not so important—appears occasionally on exams, or
easy to derive as needed8 Obscure—on syllabus, but unlikely to appear on exam.
No released exam uses this formula or concept, and stu-dents have never reported a question from an unreleasedexam requiring this formula or concept.
iii
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888
Three types of variables
1F
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Statistical Learning 888
1. Continuous
2. Categorical
3. Count
Lesson 1, page 3 1B
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88
Box-Cox transformation
2F
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Statistical Learning 88
Y∗ �
Yλ − 1λ
λ , 0
ln Y λ � 0
Lesson 1, page 14, formula (2.6) 2B
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888
Homoscedasticity
3F
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Linear Regression 888
The variance of error term of a linear regression is thesame.
Lesson 2 3B
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888
Formula for β0 and β1 of linear regression
4F
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Linear Regression 888
β1 �
∑(xi − x)(yi − y)∑(xi − x)2 (2.1)
β0 � y − β1x (2.2)
Lesson 2, page 9 4B
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88
Formula for β1 of linear regression in terms ofvariance and covariance
5F
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Linear Regression 88
β1 �cvx y
s2x
Lesson 2, page 10 5B
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888
Formula for β1 of linear regression in terms ofcorrelation
6F
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Linear Regression 888
β1 � rx ysy
sx
Lesson 2, page 10, formula (2.3) 6B
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88
Formula for β in multiple regression
7F
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Linear Regression 88
β � (X′X)−1X′y
Lesson 2, page 12, formula (2.4) 7B
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88
Formula for β in weighted least squares
8F
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Linear Regression 88
β∗� (X′WX)−1X′Wy
Lesson 2, page 13, formula (2.5) 8B
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888
Residual sum of squares
9F
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Linear Regression 888
Error SS �
n∑i�1(yi − yi)2
Lesson 3 9B
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888
Total sum of squares
10F
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Linear Regression 888
Total SS �
n∑i�1(yi − y)2 �
n∑i�1
y2i − n y2
Lesson 3 10B