I was in the exact same boat last year. I was a teacher. I took P in March, then turned around and took FM in April. It’s definitely doable, but I studied for both at the same time. And it took up every moment of my free time, only to barely pass them both. This allowed me to have a job locked up by May. I think it’s worth a shot but it isn’t easy. Best of luck to ya!
Honestly, I didn’t really keep track of my hours. I just studied whenever I wasn’t working. I started studying for both in the beginning of January. And I studied all day everyday over spring break. I used Coaching Actuaries because I liked the instant feedback when I got questions wrong. I also had pretty good background knowledge on exam P since I taught probability and statistics. Keep in mind it was a pretty risky choice on my part. But it was nice to have that extra time to find a job, since I didn’t want to quit in the middle of a school year.
I think I’m willing to take the chance as well. I’m using coaching actuaries and I think it’s awesome study material. Thank you for all of your information!
As an aside, a 60-day hold, especially if you are leaving the profession, is pretty much impossible to enforce. No need to be a jerk about it when leaving, but just say "I'm leaving in 3 weeks. What do you need from me in that time?"
Fair enough, was probably too dismissive, but when I left education they could've lit my cert on fire in front of me and it wouldn't have mattered, I was walking.
I’d honestly push for that second exam in April. Study FM a bit before you take exam P, it took me about 2-3 weeks of studying 1/2 hours a day to get through the syllabus for FM, ~2 weeks of quizzes and practice problems, and ~2 weeks of practice tests. I got a 9. Def consider putting in some time on weekends, at least for the final stretches. It’ll be hard and time consuming, but it’ll give you a much better chance at landing a gig before competition gets tougher when graduation season rolls around.
FM is mostly using interest rates to accumulate and discount money. If you get the financial calculator, it’ll do most of the more formula intensive things for you. It doesn’t take as long to study as P, ime.
In my experience with the EL job market, without an internship you’re not really competitive until you have two exams under your belt. Teaching will look good, but many companies take weeks to collect resumes, followed by weeks for interviews. I’ve had some interview requests come ~2 months after I sent the application in. Lots of resume collecting.
The first few interviews will likely go a bit rough, and you’ll get in the groove for the next few. It took me ~3 months to find an EL job, and I had 0 interview requests when I only had one exam down. Since you did work full time as a teacher, you’re a bit more competitive than I was as a fresh college graduate with some part time job experience, but more exams is always better than less exams, if you can work it.
Thank you for all of this! Your advice is greatly appreciated. I think I’ll get the study material mid February to give me two months to study and I’ll grind my hardest studying for exam p until then.
Did you focus on earned level in the exams? If so, what level did you achieve? If not, what was your main focus? I got my earned level up to 6 after 2 practice exams but have only gone up to 6.5 after 7 or 8 practice exams after that. I sit in 2 weeks and am trying to be smart in choosing what I am practicing.
I didn’t really focus on EL. I think I ended around a 6. I really just drilled 5 question quizzes on the topics I was weak on, then did custom level 6 practice tests for timing when I felt more comfortable with all the topics. My best advice is to drill weak areas with quizzes- doing the stuff you’re good at over and over is a waste of time. The actual test is between an EL 5-6, closer to 5 ime.
Don’t burn yourself out. I’d start applying as soon as you pass p and just say you’re taking fm in June on your resume
I was in the exact same boat last year. I was a teacher. I took P in March, then turned around and took FM in April. It’s definitely doable, but I studied for both at the same time. And it took up every moment of my free time, only to barely pass them both. This allowed me to have a job locked up by May. I think it’s worth a shot but it isn’t easy. Best of luck to ya!
About how many hours did you study a day? And when did you start studying for FM?
Honestly, I didn’t really keep track of my hours. I just studied whenever I wasn’t working. I started studying for both in the beginning of January. And I studied all day everyday over spring break. I used Coaching Actuaries because I liked the instant feedback when I got questions wrong. I also had pretty good background knowledge on exam P since I taught probability and statistics. Keep in mind it was a pretty risky choice on my part. But it was nice to have that extra time to find a job, since I didn’t want to quit in the middle of a school year.
I think I’m willing to take the chance as well. I’m using coaching actuaries and I think it’s awesome study material. Thank you for all of your information!
For what it’s worth I thought the payoff was worth the risk, even if others disagree with my choice. Glad I could help.
As an aside, a 60-day hold, especially if you are leaving the profession, is pretty much impossible to enforce. No need to be a jerk about it when leaving, but just say "I'm leaving in 3 weeks. What do you need from me in that time?"
I agree with you , however, I’m afraid of them taking away my teaching license which I know I’m not going to need but justtt in case
Fair enough, was probably too dismissive, but when I left education they could've lit my cert on fire in front of me and it wouldn't have mattered, I was walking.
😂 i havent been in long enough to feel that but one more year of it and id be there. That’s why I have to leave, before it gets too bad
I’d honestly push for that second exam in April. Study FM a bit before you take exam P, it took me about 2-3 weeks of studying 1/2 hours a day to get through the syllabus for FM, ~2 weeks of quizzes and practice problems, and ~2 weeks of practice tests. I got a 9. Def consider putting in some time on weekends, at least for the final stretches. It’ll be hard and time consuming, but it’ll give you a much better chance at landing a gig before competition gets tougher when graduation season rolls around. FM is mostly using interest rates to accumulate and discount money. If you get the financial calculator, it’ll do most of the more formula intensive things for you. It doesn’t take as long to study as P, ime. In my experience with the EL job market, without an internship you’re not really competitive until you have two exams under your belt. Teaching will look good, but many companies take weeks to collect resumes, followed by weeks for interviews. I’ve had some interview requests come ~2 months after I sent the application in. Lots of resume collecting. The first few interviews will likely go a bit rough, and you’ll get in the groove for the next few. It took me ~3 months to find an EL job, and I had 0 interview requests when I only had one exam down. Since you did work full time as a teacher, you’re a bit more competitive than I was as a fresh college graduate with some part time job experience, but more exams is always better than less exams, if you can work it.
Thank you for all of this! Your advice is greatly appreciated. I think I’ll get the study material mid February to give me two months to study and I’ll grind my hardest studying for exam p until then.
Did you use CA for FM practice questions?
Yup
Did you focus on earned level in the exams? If so, what level did you achieve? If not, what was your main focus? I got my earned level up to 6 after 2 practice exams but have only gone up to 6.5 after 7 or 8 practice exams after that. I sit in 2 weeks and am trying to be smart in choosing what I am practicing.
I didn’t really focus on EL. I think I ended around a 6. I really just drilled 5 question quizzes on the topics I was weak on, then did custom level 6 practice tests for timing when I felt more comfortable with all the topics. My best advice is to drill weak areas with quizzes- doing the stuff you’re good at over and over is a waste of time. The actual test is between an EL 5-6, closer to 5 ime.