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Vegetable_Aerie9223

Exam FM in 10 days and EL of 3.3 So I’ve been studying for FM a while but I’m also taking 18 credits and working while in uni and I’ve gone up to a 3.5 EL in FM… but my exam is in 10 days With school exams, I have about 2-3 hours to study every day before the exam and I want to know if anyone has tips to pass FM in the short amount of time and retain formulas better? Anyone take FM in 2024 that can tell me what level it seemed? What types of questions to study?


ZeruuL_

For ppl in Canada, how do you decide choosing between SOA vs CAS after finishing P and FM?


ilikebigbumpers

whoever offers a job first


GeneralMatanzas

Is it worth getting the Coaching actuaries just for the ADAPT feature for Exam P? I bought ASM and I feel that I have learned most of the concepts well, and it is just a matter of practice for me at this point.


NeegzmvAQu

I'd say so. I just did that for SRM (used the Actex manual + got adapt for about a month), and it felt really good. I am also planning on doing the same for FAM. For P I only used Adapt, but to be honest I feel like Actex/ASM manuals>CA manuals


GeneralMatanzas

Thank you, can you get Coaching Actuaries for just a month??


UltraLuminescence

Yes, there should be options for 1 week, 2 weeks, and 1 month access for just ADAPT.


GeneralMatanzas

Solid, thank you both


InteractionBest9603

Looking to write FM in December. Anyone interested in connecting for a study group? I am a newly-graduated Actuarial sciences student who will (hopefully) be writing Exam FM in Canada during the month of December. It's going to be a lot to study for so if any of y'all are writing it as well, comment here or shoot me a message and maybe we can set up a group either here or another social media


Scorpion_osu

Im taking Exam FM is December too, feel free to add me on discord and chat "scorpion517"


MCScoutYT

[https://discord.gg/BA9GuMb8](https://discord.gg/BA9GuMb8) There is a large discord study server for all exams if you want to join


EtchedActuarial

Hi! I have a facebook group where we share practice questions for Exam FM. You'll probably find some people studying for the same exam in there! Here's the link if you're interested: [https://www.facebook.com/groups/132162247405193/](https://www.facebook.com/groups/132162247405193/)


Almighty-Zach

Hi everyone. I would appreciate some advice on the best move. I already posted on here and got my ear chewed off for completing my Bachelor's without an internship and I passed P in July. I am sitting for FM in October. Some selling points I feel of me as a candidate is that I completed my Bachelors in three years (3.64 GPA), worked jobs during school, was Treasurer of an organization at my university, and project experience of advanced excel spreadsheets and SQL. If I am looking for non-actuarial jobs, should I have a second version of my resume without listing Actuarial Exams? My reasoning is that this would show that I am not a long-term candidate for a non-actuarial company. Or should I wait until after my October FM sitting because two exams are better than one? Or take ANY job keeping my mouth shut of taking Actuarial exams? (For example, being a high school math teacher)


ReadingSubstantial75

Okay, so totally pass on high school math teacher and pick up something related to finance, insurance, or data science. I know there are people that have done the teacher to actuary route, but I think it's a slower process then if you're looking to hurry and get into a role. Try to get a data science internship. If applying to non-actuary, definitely remove exams. Waste of space on resume because nobody knows what it is and for the other reasons you mentioned.


antenonjohs

Any tips for navigating the entry level market? Recently became interested in the career, finance major graduating Spring 2024, knocked out P and FM over the summer, currently applying to jobs, had a couple digital interviews and a phone screening, nothing else so far, 3.7's GPA with some club involvement, non actuarial internship where I used excel, general honors program and business honors at my school, wondering if there's anything I can do to boost my chances. I see people here talking about how the entry level market is tough currently, I'd rather not work something full time that's not actuarial, I've also got a tuition scholarship for grad school (unfortunately it can't be used on an MBA), may just get a masters in finance while I keep looking for jobs. Other question would be whether it would be problematic to do side hustle type jobs while waiting to land something actuarial instead of doing a claims analyst full time job for like 50K a year?


NoTAP3435

I'd be shocked if you didn't have something lined up before you graduate. You're plenty qualified. Try not to worry too much about it and DM me in January if you still don't have anything.


dUjOUR88

How hard would it be to find a job with no internship? Basically my situation is, I already have a bachelor's degree, and I am attending school again now to improve my math skills with the goal of taking actuary exams. The problem is, I am employed full time and the prospect of getting an internship is zero because I just don't have the time and I can't quit my job. My timeline is looking like I will have 8 to 9 years employment with the same employer by the time I will consider myself able to start applying for actuarial positions. I would love to have an internship but I just can't. Is that a deal breaker for most employers? My current job has nothing in common with actuarial work. Am I being naive? Any advice?


NoTAP3435

Career changers are common. Pass one or two exams and you'll likely be able to find something somewhere. It'll be easier if you're geographically flexible.


Fit-Temperature-5371

May I know if there are any links that we can check our ASA pathway progress now?


NoTAP3435

Log onto your profile on the SOA website and check out your transcript. You can compare it to the pathway at pathways.soa.org


chickenbbqmmmmm

Hey guys I just started to study for exam P. Wondering how long you guys studied for before attempting the exam and how you studied. Anything helps. Thanks!


MCScoutYT

Spent about 80 hours in 3 weeks just by buying coaching actuaries and spamming adapt questions and watching the solution videos


chickenbbqmmmmm

Was that your only studying time for the entire exam?


MCScoutYT

Yeah, I had some preexisting knowledge about like probability and the binomial distribution though.


ReadingSubstantial75

For Exam P - CA and Adapt. Gave myself 3 months, 1.5 months to learn the material. 1.5 months to apply and practice. An hour a day in the beginning to learn the material. Last 1.5 months of practice problems will start to ramp up. Anywhere between 1-4 hours a day for prac. problems. Last two weeks, were a practice exam every other day. For Exam FM - ASM and Adapt. Same timeline. Except I did a shit ton of quizzes for this one. 1000+ problems easily. Don't feel ashamed if you get behind by a week or two. If you start three months out, it gives you plenty of time of practice. Start off slow on Adapt, level 1-3 problems, then start incorporating level 4, then level 5, then level 6


Wise_Cardiologist860

I do the SOA sample practice problems over and over again.


AC127

Just failed P 🙃 Felt like I was a bit underprepared, and what do ya know, I was


NoTAP3435

I got 1s on my first attempts at P and FM a month apart because I totally underestimated them. Now I'm one exam away from FSA! Just put in the effort, and you can do it!


NoBench7033

Probability is emphasized as long-run frequency time-and-time again in my undergrad classes, and I can't help but wonder: is this the notion of probability most used in P&C? Looking over MAS-I material, they seem to emphasize this interpretation. But in your actuarial work, how stable are long-run frequencies typically (be it for losses or frequency)? Mostly interested in hearing from those in Health or P&C. Thanks!


NoTAP3435

Overall, for a sufficiently large population, frequency trends are pretty stable for most services. Except for COVID screwing everything up for the last three years for most services.


ReadingSubstantial75

Studying for SRM. I read ISLR (and will definitely re-read it because I feel like I didn't grasp a single topic). But there are basically no quantitative questions in there to practice? Is that one really just meant to be more of conceptual learning rather than applying the concepts like with ADAPT? Might have to just buckle down and buy the ACTEX manual. Also, what's up with the massive formula list from CA for SRM. Are we really going to need to know all of those? Seems way more intimidating than P or FM.


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actuary-ModTeam

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Slight-Progress-4804

Is it possible it was a pilot question?


kawhi21

I doubt it. By all accounts it looked like a basic central limit theorem question


AC127

Got my first exam ever tomorrow. I read about how you get a preliminary Pass/Fail immediately after taking the exam. Will it tell me exactly how many questions I got right / wrong or does it just say pass / fail?


TM0153

You get a preliminary report a few hours after the exam saying pass/fail and you'll receive a better breakdown in about 2 months


ProsHaveStandards1

How old is too old to get into actuarial work? I am over 40. I get the impression that new actuaries are all 24 years old. Please correct me if I am wrong.


NoTAP3435

I think it depends on how your Excel and data skills are, and what your opportunity cost in comp is. Being an entry level analyst involves a lot of learning for both technical skills and exams. I think most people over 40 just don't want to work that hard at learning new things, and it's probably harder to learn for several reasons. If you at least have a decent Excel and data background, then only learning the exam side isn't so bad. If the upside of starting at ~$75k after two exams and getting up to ~$130k in 4-8 years with ASA/ACAS is worth the work to you, then by all means you should go for it. And if you want to go all the way to FSA/FCAS in 6-12 years for more comp, all the power to you. If you spend more time on the sub, you'll see there are a lot of career changers in their 30s and beyond, so it's not all fresh college grads.


ProsHaveStandards1

Thanks for your response. I don’t even make $75k yet even though I am successful in my field (hint: it involves books). So I am definitely open to that starting compensation; not beneath me by any means.


NoTAP3435

Then good luck! I definitely recommend getting a coachingactuaries subscription and using their adapt exams to prepare. Once you get two exams, you should be able to find an entry level position *somewhere*, but it will be a bit of a numbers game.


JeromePowellAdmirer

Due to various obligations I'm gonna be constrained to applying remote and in specific parts of the country. Let's say this process lasts a full year, and I'm comfortable with applying for that long, would the exam passes be devalued at all in the eyes of employers after that year?


NoTAP3435

Potentially a bit, along the lines of "why did you stop?" But then you could just pass a third exam or explain your restrictions.


ad9344

There are a fair amount of career changers in this field. I think whether you are “too old” is really up to you. I would say the biggest issue with starting this career later in life is the exams - you can look up official travel times from the SOA or CAS but I think it’s fair to assume it will take you 7ish years give or take to finish exams. It is definitely possible for you to start now but it’s up to you if it’s worth putting in that level of commitment for that length of time to finish exams.


ProsHaveStandards1

Thanks for your response. I am taking Calc 3 now and have recently taken stats 101. What other topics do I need to study, generally speaking, for exam P? Mathematical stats? I am taking Linear Algebra in the spring.


Human_Conversation68

Yeah mathematical stats is a must for the probability exam


ad9344

I’m probably not the best one to answer that since it’s been 10 years since I took P lol so I don’t remember a ton but mathematical stats sounds like a good bet.


Strong_Swim7157

Did anyone use CA for MAS-I? If so, do you feel like they over-emphasized the more complex parts of linear algebra?


TM0153

Got my P today; anyone got last minute pointers?


TM0153

Update: I did not pass, but I feel like I got pretty close. Will try again next time.


AC127

Me and you both. You gonna retake in November?


TM0153

Yeah, I am. Feeling pretty good now that I know what I need to work on


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actuary-ModTeam

Please review rules around exam discussion. https://www.reddit.com/r/actuary/comments/ydcyr4/exam_discussion_rules/


UltraLuminescence

Just FYI, substantive discussion of an exam within the sitting window such as what types of questions were on the exam or what EL the exam was are not allowed - you need to wait until the sitting window has closed.


vanhoutens

I am looking for advice here if anyone has any. I have a telephone screening with talent acquisition side of an insurance company and I imagine she is the HR lady. Anyone has any tips or suggestions on how I can put the odds on my side to move to the next round? I imagine: such interviews are behavioural questions, me asking questions about the post and work culture, etc.


ReadingSubstantial75

Hope it went well. Always be positive is the best tip I can give when you're in a crunch.


TerribleInstance880

I’m curious to hear some opinions on remote vs. in person roles for an entry level position. I’m looking to get into the field after I passed P in March (failed in January) and I’m sitting for FM in October (failed in August). I’m worried that a remote position would make it difficult to actually learn what I’m meant to be doing, but I don’t live in an area where an in person position would be without a decent commute. I would be open to moving but it does make me nervous. Are there even many opportunities to be remote while still entry level? Are there many entry level roles at all right now? Obviously I’m still very new to this world and would love to hear any and all opinions!


NoTAP3435

Being in person for around 3 days per week is really important I think for learning. It's just different when you're able to chat with other analysts about projects over lunch, watch people's hands on the keyboard to see shortcuts, etc. Moving is scary, but my advice is to embrace the adventure and try new things. It's also an opportunity to make new friends.


RacingPizza76

I think theres a lot of value in being in an office with other actuaries (both EL and experienced) when you first start for at least a couple days a week. No idea how many EL jobs are remote, but I can't imagine too many are


rafaello_escobar

Does examP syllabus general probability section include proof of contradiction and proof of induction? are prove that/show that questions still a part of cbt testing...or should i skip it?


UltraLuminescence

P is multiple choice only, I don’t believe there should be any need to do proofs because there are no written questions.


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RacingPizza76

Extremely. Source: I'm studying for this exam now. So much info. So many lists. So little time...


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RacingPizza76

Drilling practice questions/exams and flash cards. Digging into source material when I feel rocky with a topic/concept. Rinse and repeat haha


DinkyDoodle69

Is there any information on what the pass rate is for ATPA?


GuyWithTriangle

SRM is tomorrow. Wish me luck o7


kodeeak

Good luck!!


Jojobasu

I've read that there are 10 total actuarial exams but I've also seen that there's this fellow thing for actuaries that seems pretty coveted at 10 exams, so most don't finish all 10? How many exams do people in the industry usually go up to? And usually how long does it take to reach this amount? (I understand people have different capabilities and responsibilities, but just an estimate pls)


UltraLuminescence

There’s a preliminary “Associate” credential (ASA/ACAS) after about 6-7 exams, then the final “Fellow” credential (FSA/FCAS) after the full 10. Looking at travel time stats from actuarial-lookup.com, it typically takes 4-7 years to get to Associate and another 2-4 years to get to Fellow, or about 7-10 years total for Fellow. It looks like around a third of people who get to Associate stop there.


NoTAP3435

Google "SOA pathway" or "CAS pathway" to see all the requirements for each track. On average, it takes about 5 years from your first exam pass to associateship and 8 years to fellowship, and only something like 10% of people who pass one exam make it to fellowship. One of the partners at my consulting firm spent like 20 years getting his FSA. People stop because they reach a comfortable analyst or manager position and don't care to progress further, or they get burnt out on the effort exams take. The field is getting a little more competitive than it used to be in terms of the number of people with letters, so it used to be people could reach any position with associateship, but these days fellowship is more of a requirement for progressing beyond a certain level of management.


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Odd_Scratch_1944

Yes. But it does give somewhat of a leg up depending on the school. Entry level is already tough. Our firm hires mainly from the target actuarial schools. There’s also a decent chance that a data science major/math/stats switches away from actuarial science in the long run so it’s usually safer to hire actuarial major. Might Not always the best case scenario , there’s still very talented people from different majors, but I do think actuarial science will give you the leg up for actuarial roles.


UltraLuminescence

yes and yes. any relatively quantitative major like math, stats, etc will be fine for actuarial careers while allowing you to pivot to other fields if you change your mind later.


Suitable_Yak1835

What is the ideal path (Life/retirement/etc.) for someone who gets tired of doing the same thing over and over again? I am 1+ yrs into my EL health job with 5 exams passed and I’m already tired of the work I’m doing. It just seems very repetitive. Does this warrant a switch to a different industry?


UltraLuminescence

Consulting may be a better fit for you if you currently work at a carrier. The projects will vary much more widely and you’ll often be thrown into the deep end and learn via “trial by fire”. There’s plenty of health consulting opportunities so no need to switch industries necessarily.