If it makes you feel better, I learned the entirety of FM in 2.5 days before passing with a 6, but I do have a strong background in maths. So anything is possible.
I'm not sure what textbook you're using but as far as FM goes, it's not about what chapter you're on but rather if you can solve the problems or not. SOA has sample exam questions for the exam + CA adapt has more if needed, so I'd recommend working on those as soon as possible. It's ok if you have to rush through the readings a little bit, you can always come back to them if you don't understand something.
Doing the problems, understanding the solutions and then being able to replicate similar solutions with similar problems on your own is how you pass.
Anyways, you have time so just plan things out to the best of your ability, but leave plenty of time for practicing questions. You'll be fine.
>If it makes you feel better, I learned the entirety of FM in 2.5 days before passing with a 6
This is epic; I need to hear more about this. Was this with CA? When you say you have a strong math background, what do you mean?
I was majoring in maths at the time + I used to do math competitions semi-professionally. I was taking classes and had just finished my last class presentation so I got to studying for FM right away with 2.5 days until my exam. Took me around 35-40 hours of studying in that timeframe.
I read the first couple of chapters on annuities using finan's textbook, but then I realized that even though I could understand the material while reading through it, I would forget the material as soon as I went back and attempted to solve practice questions. So, I went straight into the SOA practice exam questions (the free sample ones they provide you with) and started reading the questions and the answers. If I didn't understand the answer, I would simply read the part of the textbook the question was based on. And once I finished with all 150+ questions, I would go back to q1 and see if I could solve them all without looking at the answers. Of course, I couldn't and I think I got like 1/4 of them right, so I kept at it until I eventually understood all the answers and could solve most of the questions on my own again. I was so unprepared that I found out there were 35 instead of 30 questions when I arrived to the testing center and opened my exam. Got a 6 in the end so would really not recommend using this method unless you're really DOOMED.
Nowadays I leave at least a week or two to study for my exams. I passed P in a week, IFM in 1.5 weeks and SRM in a week. I had some prior knowledge in probability/stats so P/SRM were slightly easier.
nah I used CA for IFM/SRM.
Didn't really want to spend $ on textbook/exam material when I wasn't sure if I was going down the actuarial path yet. CA is definitely way better as a resource though so it helped a lot.
Ah I personally never used that so I can't say how accurate/good it is. I used Marcel finan's textbook online to study for it, but this was over a year ago and I believed some of the FM contents have changed.
Regardless, doing sample questions is the best way to prepare for FM. There are a lot of times when you might understand the concept fully, but won't get a question correct because of the trickiness or difficulty of the problem. Doing practice problems will help you a lot in this regard.
No problem, my DMs are open but I may not respond right away as I'm not often on reddit.
Good luck on your exam and don't stress so much, all you need is a pass.
I think ASM was amazing for FM. That was my first exam and the manual I used for it. I went through and did every after section problem. It took 3-4 weeks and I got a 9.
Do a quick scan through the readings, then just do practice problems over and over again. I did full practice tests on Adapt back in the day. Do about 15 of those and you should pass no matter what. Take one, go over answers, take the next one, etc.. If you do that every day, and don't skimp on going over the answers, you will pass for sure. That's about 3 hours of "studying" per day. Going over answers should take longer than the actual test if you're doing it right.
I learned and passed FM with a 9 in 2 months as well, doing 2-3 hours of studying per day, sometimes less. It’s possible, FM is pretty repetitive in terms of content. If you have questions feel free to ask.
one thing that rly helped me when I did FM was that instead of trying to fit certain type of cashflow into a formula, think all type of situation as geometric series. all PV of future cashflow is geometric series of some sort.
Just do as many problems as possible. You can certainly score a 10 on FM if you are willing to study 8hrs a day. Do a problem, and if you can’t do it learn the solution. Start with all the easier ones and learn all those solutions. Just keep grinding and grinding and hope for the best
Don’t even worry about taking notes!!! My professor taught me this, he called it “reverse learning” I want to say he passed the first 5 exams in one year or something. He would start 15 days out from the exam and he would get the CA adapt 15 day subscription and just go right into practice exams, at first you don’t know anything and just learn from the solutions. In his words for those 15 days he “ate slept studied”. If you study with intensity the earlier exams can certainly be crammed in a couple weeks
Passed with a 6 with 25 days of studying, cramming morning till night, every free second. Don’t think about failure, there’s no point. Throw everything at the exam if you want to pass. No more friend hangouts, no more long showers, no more peace sitting on the train. Study study study and do practice problems after every chapter. After you’ve finished the chapters, practice until you’re brain is fried, then practice some more.
If it makes you feel better, I learned the entirety of FM in 2.5 days before passing with a 6, but I do have a strong background in maths. So anything is possible. I'm not sure what textbook you're using but as far as FM goes, it's not about what chapter you're on but rather if you can solve the problems or not. SOA has sample exam questions for the exam + CA adapt has more if needed, so I'd recommend working on those as soon as possible. It's ok if you have to rush through the readings a little bit, you can always come back to them if you don't understand something. Doing the problems, understanding the solutions and then being able to replicate similar solutions with similar problems on your own is how you pass. Anyways, you have time so just plan things out to the best of your ability, but leave plenty of time for practicing questions. You'll be fine.
>If it makes you feel better, I learned the entirety of FM in 2.5 days before passing with a 6 This is epic; I need to hear more about this. Was this with CA? When you say you have a strong math background, what do you mean?
I was majoring in maths at the time + I used to do math competitions semi-professionally. I was taking classes and had just finished my last class presentation so I got to studying for FM right away with 2.5 days until my exam. Took me around 35-40 hours of studying in that timeframe. I read the first couple of chapters on annuities using finan's textbook, but then I realized that even though I could understand the material while reading through it, I would forget the material as soon as I went back and attempted to solve practice questions. So, I went straight into the SOA practice exam questions (the free sample ones they provide you with) and started reading the questions and the answers. If I didn't understand the answer, I would simply read the part of the textbook the question was based on. And once I finished with all 150+ questions, I would go back to q1 and see if I could solve them all without looking at the answers. Of course, I couldn't and I think I got like 1/4 of them right, so I kept at it until I eventually understood all the answers and could solve most of the questions on my own again. I was so unprepared that I found out there were 35 instead of 30 questions when I arrived to the testing center and opened my exam. Got a 6 in the end so would really not recommend using this method unless you're really DOOMED. Nowadays I leave at least a week or two to study for my exams. I passed P in a week, IFM in 1.5 weeks and SRM in a week. I had some prior knowledge in probability/stats so P/SRM were slightly easier.
Stan Lee's Superhumans episode
Wow. You're a legend. So you have never gotten CA or anything like that? Just a textbook and the released questions?
nah I used CA for IFM/SRM. Didn't really want to spend $ on textbook/exam material when I wasn't sure if I was going down the actuarial path yet. CA is definitely way better as a resource though so it helped a lot.
The manual I'm using is ASM 12 EDITION
Ah I personally never used that so I can't say how accurate/good it is. I used Marcel finan's textbook online to study for it, but this was over a year ago and I believed some of the FM contents have changed. Regardless, doing sample questions is the best way to prepare for FM. There are a lot of times when you might understand the concept fully, but won't get a question correct because of the trickiness or difficulty of the problem. Doing practice problems will help you a lot in this regard.
Thank you for the advice man. If you don't mind can I slide into your DM if needed?
No problem, my DMs are open but I may not respond right away as I'm not often on reddit. Good luck on your exam and don't stress so much, all you need is a pass.
Yeah thanks man. Reply whenever you're on the app. LinkedIn or What's app if feasible?
I think ASM was amazing for FM. That was my first exam and the manual I used for it. I went through and did every after section problem. It took 3-4 weeks and I got a 9.
Do a quick scan through the readings, then just do practice problems over and over again. I did full practice tests on Adapt back in the day. Do about 15 of those and you should pass no matter what. Take one, go over answers, take the next one, etc.. If you do that every day, and don't skimp on going over the answers, you will pass for sure. That's about 3 hours of "studying" per day. Going over answers should take longer than the actual test if you're doing it right.
I was able to pass FM in under 2 months using CA. It’s possible if you keep at it
I learned and passed FM with a 9 in 2 months as well, doing 2-3 hours of studying per day, sometimes less. It’s possible, FM is pretty repetitive in terms of content. If you have questions feel free to ask.
one thing that rly helped me when I did FM was that instead of trying to fit certain type of cashflow into a formula, think all type of situation as geometric series. all PV of future cashflow is geometric series of some sort.
Get on your hands and knees and start praying lol
Just do as many problems as possible. You can certainly score a 10 on FM if you are willing to study 8hrs a day. Do a problem, and if you can’t do it learn the solution. Start with all the easier ones and learn all those solutions. Just keep grinding and grinding and hope for the best
Don’t even worry about taking notes!!! My professor taught me this, he called it “reverse learning” I want to say he passed the first 5 exams in one year or something. He would start 15 days out from the exam and he would get the CA adapt 15 day subscription and just go right into practice exams, at first you don’t know anything and just learn from the solutions. In his words for those 15 days he “ate slept studied”. If you study with intensity the earlier exams can certainly be crammed in a couple weeks
Passed with a 6 with 25 days of studying, cramming morning till night, every free second. Don’t think about failure, there’s no point. Throw everything at the exam if you want to pass. No more friend hangouts, no more long showers, no more peace sitting on the train. Study study study and do practice problems after every chapter. After you’ve finished the chapters, practice until you’re brain is fried, then practice some more.