MAS-II Exam Day Guide
Everything you need to know before sitting for Exam MAS-II: Modern Actuarial Statistics II. Testing center logistics, time management, and strategies for performing your best on exam day.
Arrive early and complete check-in smoothly
Bring two valid IDs to the Pearson VUE center. Arrive 30 minutes early. Familiarize yourself with the testing station and scratch materials before starting the timer.
Bring your calculator with fresh batteries
MAS-II calculations for credibility, ratemaking, and reserving require a calculator. The BA-II Plus is approved. Replace the battery within a few days of the exam.
Write out credibility and reserving formulas
At the start, write Z = n/(n+k), the Buhlmann-Straub EVPV and VHM formulas, the chain-ladder development factor formula, and the BF ultimate loss formula. These appear in many problems.
Draw loss triangles neatly from the start
Many MAS-II problems involve loss development triangles. Draw them with clear row and column labels on your scratch paper. Sloppy triangles lead to transposition errors that are hard to catch.
Budget 6 minutes per question
With 40 questions in 240 minutes, you have 6 minutes each. Ratemaking and reserving problems may take longer because of multi-step calculations. Balance these with faster conceptual problems.
Know when each reserving method is appropriate
Chain-ladder works best for mature lines with stable development patterns. BF is preferred for immature years. Cape Cod is a blend. Problems may ask you to choose the most appropriate method for a given scenario.
Check coverage modification formulas carefully
Problems involving deductibles with inflation require adjusting the distribution before applying the deductible. Know the formula for E[(X-d)+] with and without inflation and the per-payment vs. per-loss distinction.
For GLM problems, interpret on the correct scale
Poisson GLM coefficients are on the log scale. To get the multiplicative effect, exponentiate. A coefficient of 0.15 means the factor multiplies the baseline by e^0.15, roughly 1.16.
Stay focused through the full 4 hours
MAS-II is a 4-hour exam with dense quantitative problems. Plan your energy: eat before the exam, take brief mental breaks, and maintain a steady pace rather than sprinting and fading.
Verify that your answers are reasonable
Loss ratios should typically be between 0.5 and 1.0. Credibility weights should be between 0 and 1. Development factors should be greater than or equal to 1 for cumulative triangles. Use these sanity checks before confirming your answer.