Solutions for FSA Spring 2012 Exams

[Bballry1234]

Originally Posted by campbell

Yes, I agree.

I think the problem with releasing rubrics is that it may result in extremely poor solutions from future candidates. For example, if a question said to explain a mortality study in relation to annual assumption setting:

Candidate A might write: Credibility
Candidate B might write: Credibility needs to be considered for assumption setting
Candidate C might write: Credibility needs to be considered. A company with poor credibility may weight its results with industry data or reach out to a reinsurer/consult.

Obviously, quality of A<B<C, but what if the grading outline gave full points to all because credibility was a 'point' on the rubric? This would undeniably result in poorly written answers [Why waste time writing (C) when (A) got you the same points?]. By adding the element of mystery to how much elaboration is needed, it forces candidates to explain answers to the best of their ability.

[campbell]

I doubt that's their motivation.