meztez
- Time is your enemy. - Use memorization techniques, like a memory palace. - Grader are looking for key words, be succinct. - If you do not know, skip. Your brain will figure it out while you work other questions. - Create your own study material from the syllabus. Anything that is remotely mathematical will be tested at some point. - Practice being efficient with the tool used to take the exam. Pen or keyboard.
It has been a while, but after getting involved with the exam question writing/grading part, I felt the CAS was too entrenched in their processes. I stopped paying my dues since I did not plan to sign any acturial statement anyway.
I now do data engineering for other actuaries and maintain our tech stack. Think rating engine and ML in production. Code is mostly on github now, we have peer reviews, deploy to kubernetes. It is really is no different than SWE, except we know a lot more about the business side.
Life is great work wise.
Having to rebuild your environment from scratch when your workspace crashed. Imagine starting a notebook with a 45 minutes compile time. No go.
One click deploy, let's just forget about it.
RStudio is an absolute killer solution from the get go. Package management in R is simple and robust. Shiny is the new Excel pivot table on performance enhancing code.
Python has more contributors, more users. It also creates a lot more noise. Business people may feel like it is a a programmer tool. R feel more approachable.
In the end, both are great solutions but we decided on R because we believe in the people contributing to the ecosystem, mostly RStudio. Somewhere down the line, there might be a transition to julia.
What we did :
1) Provide documentation on everything from install to using internal R libraries for ETL.
2) Provide mostly problem free, always updated VMs with RStudio Server/ Shiny Server.
3) Establish an hotline channel for instant help on R or git.
4) A couple members on the team developed really close working relationship with IT and we have great respect for each other work.
What we provide is way better and by being active, we built users trust in the tools.
We are phasing out SAS and proprietary modeling tools. Python never took hold even if we bought Anaconda entreprise. Excel is there to stay for sure but since actuarial student learn R in school, it is easier to onboard new hire.
If you want to go down this path and have a chat, hit me up. I'm in P&C. We use R both in development and production environments. We use it for pricing, spatial contractual obligation, claims assignment and a couple more models.
I understand some groups have expectation about people dressing nice and if I'm attending, I will conform.
But my point was that everyone had a dress code imposed upon them and that it could have been handled maybe a little better. Just tell people to dress up I guess, no need to specify which sexes gets to wear what.
And yes technically SAS is faster than R but part of the equation is how many people can make SAS code faster than R/python. I had maybe, 1-2 people that could write efficient SAS code.
One version we had was a bunch of macro producing hash merge plus the whole how can I do something without having to get out of the data step. Just horrible. Number of characters in a line of code? You forgot your quote somewhere and now you have to run the magic line.
I hope I'm not too emotional when I say I hope SAS disappears from my industry and we embrace less adversarial licensing.
But so far we have seen great development. Flux is a truly beautiful ml library. Being a compiled language remove a lot of headache when building production images. The syntax, the full utf support in variable name. Package management is great. Having that abstraction layer between CPU, GPU so you don't have to rewrite code. Dispatch based on signature, type management. I don't see it going away soon. It took me 13 years to make them transition out of SAS, good thing cloud computing come around and someone realised the clusterfuck of having to manage SAS licence in the cloud.
I get that R is not for everyone but used correctly it is a beast.
Now this is anecdotal, but we have in the insurance industry what we call on level premium calculators. It is basically a program that will rerate all policies with the current set of rates.
Our current R program can rate 41000 policies a second fully vectorized on a user laptop that has a an i5 from 2015.
In contrast, the previous SAS program could do 231 policies a minute on xeon 64 core processor from 2017.
For our workload and type of work, R has been a godsend.
Bonus, we can put what our data scientist develop in R directly in production. (after peer review, testing, etc, not different than any other production code)
Back when I started in 2005, we modeled in some proprietary software like Emblem, used Excel to build a first draft premium calculator, rebuilt the computation in SAS for the onlevel program and sent specs to IT to rebuilt the program again for production. All three had to produce the same results.
I've tried Python, Go, Rust, Julia. I'd say Python could be a good alternative but speed of data.table, RStudio IDE and ease of package management in R makes R an obvious choice for us. I believe Julia to be the future but so far the adoption rate in house has been low.
R Markdown and its derivative are such great tools. I would also suggest xaringan if you want to present your work on a big screen.