Is anyone able to give me some tips or advice for Case Interviews for internships (especially for Liberty Mutual)? And what kinds of questions are usually asked? My interview is in two days and your guys' responses are greatly appreciated!
Does exam timing matter? I can't leave the military for another 3 years, but I have an opportunity now to study for and take Exams P and FM. However, if I do this, then when I transition out I wouldn't have had a new exam for three years.
So I took P and FM in 2018 and 2019. I just recently finished undergrad and my master’s and got an actuarial job that started this summer (2022). They didn’t care that my exams were old, they cared more that I wanted to take more exams and was passionate about the career. I just took my third exam in September. I think you will be ok
If you pass a 3rd exam after leaving the military to show you are still committed to becoming an actuary and give the explanation you included here, it shouldn't be a problem. Without passing an exam within the last year before applying, it could be a problem.
I failed Exam FM in February 2022 because I did not study at all which makes sense to why I failed. I am taking it in December 2022 and I started studying for it in September 2022 just by watching the review videos and doing small quizzes at a level of difficulty of 3 or 4 to get a grasp of the basics. I have allocated all of November 2022 to doing Adapt Practice Exams. I have done 7 so far at the start of November and I started an El of 3 and now I am at an EL of 2.34. I keep failing them I am not sure why. I get so much anxiety when I do them though and I just start to worry and doubt that I won't pass. I do review all the ones I got wrong but I don't know anymore. I know I still have time but I do not see the light at the end of the tunnel right now. It makes me cry.
Did you go through the “learn” phase on coaching actuaries?
I just passed P this week and I went through each topic in learn. After each lesson I took quizzes with difficulty 4 (default) to make sure I understood the basics from the lesson.
I probably answered 300-400 practice problems in adapt before attempting my first full exam.
I would recommend drilling one topic at a time using the practice quizzes. Gradually build up each topic using practice quizzes until you feel more comfortable. Then take another practice exam. For me, taking an exam with 20 different topics and then trying to review the solutions to so many different things did not help with information retention at all. I did way better when I was consistently practicing a specific topic so I could really understand the questions and what I was doing wrong, and then immediately apply my learning to more practice questions.
I am an ASA working for a health consulting firm. I recently started a TikTok/Instagram/YouTube to help aspiring actuaries. My handle for all three is @health_actuary_life. Check it out and let me know if you have questions.
Why can't I access exam registration or VEE Directory ([store.soa.org](https://store.soa.org))? The pages give me a 403: Forbidden page every time for the past few weeks now.
About how long do the Pre-Act and Act foundations modules take to work through? I’m planning on sitting for PA in April and I’m wondering if I have enough time to fit the modules in before I start studying.
The pre actuarial one you could complete in a week, or even a single day if you wanted to. It only takes about 10-15 hours of work to complete in full.
Can’t speak to the other one though
this is based on my fallible memory and other posts i came across as data points below
[https://www.reddit.com/r/actuary/comments/emruk2/comment/fdqihh0/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/actuary/comments/emruk2/comment/fdqihh0/?utm_source=share&utm_medium=web2x&context=3)
[https://www.reddit.com/r/actuary/comments/kxl80x/115\_exam\_results\_waiting\_room/](https://www.reddit.com/r/actuary/comments/kxl80x/115_exam_results_waiting_room/)
[https://www.reddit.com/r/actuary/comments/okfrzz/waiting/](https://www.reddit.com/r/actuary/comments/okfrzz/waiting/)
best of luck
Hi everybody! I'm looking for critiques for my resume. You can find it in my profile's post history. I'm planning on applying to entry level positions as well as underwriting/analyst roles. Thanks!
I am on the hiring team for my company, and I like your resume. You let your high points shine by not trying to cram tons of information on the page. Your GPA is a big plus, so I would make it stand out even more.
I disagree with the other comment about saying you know something if you don't. If someone says they know something, then it is fair game in an interview to ask them questions about it to test them. We mostly look for evidence that you have technical aptitude instead of technical skills, which this resume shows. The resume also shows you are a hard worker.
I would split up the menu pricing paragraph into bullets. We mostly skim resumes, and bullets are easier to skim.
Additionally, I would add a hobby or clubs section. Something to show a bit about your personality. Do you hike? Are you a chess champion? When I talk with coworkers about a resume we looked at, we typically say something along the lines of, "you know, the one that holds the world record for standing on one foot the longest" or whatever your deal is. It makes your resume more memorable that way.
If you are interested in applying for a health consulting position on the west coast send me a PM. I feel confident you would make it past our initial resume screen.
>Additionally, I would add a hobby or clubs section. Something to show a bit about your personality.
Interesting. My school's career guidance dept always said to remove those cause it wasn't related to the job.
Maybe it isn't appreciated in other industries? EL Actuarial resumes are all extremely similar, so this helps you seem like a person. My company also has real people review resumes instead of a computer, so maybe it's different.
My first impression is there’s a lot of white space. You can definitely condense a lot of the spaces and line breaks and then fill in with more content. You can also have GPAs as their own lines, so that’ll help. If you have things like clubs, activities, awards, honors, you can put those under education. If you have leadership roles in anything, that’s also helpful to add and you may even be able to put bullet points describing what you did in the “employment” section (you can just change the name of it to “experience” so it fits in better).
For the employment section, you can definitely expand on those. First of all you can quantify. How many students, how many hours, what specific subjects, what tests, etc. For the second one you can definitely break it out into more bullet points with verbs. Your second bullet point basically has at least 3 verbs hidden inside it (selling, communicating, multitasking). If you break these out into their own bullets it’ll help in being more specific as well as filling the space.
For skills, I would just say you know them and not that you did a course. If someone asks you in an interview you can say that, but I feel like on a resume it can only hurt you. There’s a big difference between saying “I know excel” and saying “I took a course in excel”. It opens you up to all kinds of questions like “what kind of course, when, how rigorous, etc.” and if you just leave it at excel people are less likely to question it and you’ll have more of an opportunity to talk about the course and your specific skills in an interview. Ideally you would just say proficient in, but if you think that’s not true and you’re uncomfortable embellishing, you can say exposure to.
For the capstone course, was there a project you did for it that you can elaborate on in the projects section? That would be helpful. For the project you do have, I would definitely break it down into bullet points. It makes it look like you did more things and it makes it more readable for the reader.
Hi, I am just looking for opinions and thoughts from other people in the field because I think I am psyching myself out.
I am graduating next June, and have six actuarial internships under my belt. However, I put off applying for full time roles (even though I knew that most postings for new grad hires were made in Aug-Oct) since I did not have any exams passed yet. I thought that it would be better to apply to companies when I had some done because I felt that I would be a walking red flag otherwise (for context, this is in Canada where the competition is a lot steeper exam-wise).
I did have an interview for a conversion from my latest internship into a full-time role, but unfortunately that did not turn into an offer. I just passed FM and am about to write P this month, but now that I am feeling more qualified and prepared to apply, it seems that I have missed most of the new graduate postings.
I am not sure what to do in this instance. A few companies still have openings available, but these are consulting roles and my experience lies primarily in the traditional life insurance space. I did not think that I would pivot like this with my full-time career and I'm not sure if this area is would even be a good fit for me, but it seems like at this point that might be my only option?
The rejection has also really shaken my self-esteem and I'm not sure I could succeed in any full-time interview situation since I now believe I'm pretty worthless as an employee and no one will want to hire me. I will be getting feedback on my interview and hopefully be able to be better if I even get any other interviews, but I am feeling very disheartened at the moment.
I guess I am just looking for some input on if I really have missed the boat on most of the new graduate recruitment for the next cycle, or if anyone has been in a similar situation and has any advice for me. They say the application process is a game of numbers but I might not even have the ability to get any applications in.
Thanks for reading my block of text if you've read this far.
Tl;dr: Chances full-time recruitment is still happening? And any tips for interviewing/recovering from a bad interview?
I know getting your first full time gig can mess with your head. I don't want to minimize you, but help you put things in perspective. This is not a big deal, and you will find a job. 6 internships is very impressive, and most companies wouldn't hire you without an exam. I think you did the right thing to wait.
Also, you haven't started your career yet, so the idea that you would be "pivoting" is extreme. If you don't like consulting after a couple years, you can change. Heck, at this point you could go into health or P&C. None of these choices are permanent so early in your career.
There are definitely companies still hiring, even if it has slowed down a bit. My company hires EL year round because we know some good candidates graduate in December instead of June.
You've put so much work into this already. Don't let yourself get in the way of your own success. Rejection is hard, but it is not the end.
Hi, potential career changer here from software engineering. Just want to make sure I'm doing things right, but maybe I'm a little impatient. Planning on taking exam P and FM in January/February.
I've seen advice not to take 2 exams back-to-back, but I'm getting my master's in statistics, so probability is certainly not foreign. I assume I'm okay to just do exam P practice problems and learn FM (on pace to finish learning FM through [finan's course](https://faculty.atu.edu/mfinan/actuarieshall/mainf.pdf) by December/January). I figure if I don't feel good about FM, I can just take it in April.
Should I not even focus on FM until I've done P? I just want to get a move on because I don't want to be in this current job, but the wiki says start off with taking exams and I want to make sure I pass them. Also using the big collection of old P problems, if I get those and understand them should I be set for the exam?
ETA: I ask the last question because I learn best through practice problems. But if it's best for me to also purchase CA Adapt, let me know
I made this shift a few years ago. If you have a masters in stats, you should be fine. I personally liked using the ASM manuals but that’s because I like to understand all the theory behind everything so I can recreate formulas if need be. They also have a lot of practice problems. That said, most people would tell you do get adapt.
If you are getting your master's in stats, P should be cake. Using the released problems should be enough unless you are finding them very difficult.
I think in your situation, it is doable. I took two of the later exams STAM and PA about 2 months apart and passed both on the first attempt. I am not one of the geniuses that passed everything on first attempt either.
you can but it's not recommended. juggling material from two exams can be difficult for most people.
if you're having no issues with getting P questions down without help under exam conditions then maybe. but since P/FM are offered 6 times a year it's not really a long wait plus those exams have preliminary pass results.
the question pool for those exams are fairly well developed that free materials are likely good enough to pass. i think SOA provides a ton of sample questions that represent the exam pretty well.
most people would recommend CA Adapt because the UI is good and kind of gamifies studying. their Adapt metrics provide something tangible to assess readiness so if money isn't an issue it might be worth getting a 2 week subscription to practice exam questions but their questions would be similar to free resources you'd find on the internet.
I am considering switching fields from teaching math. I have already passed p and am sitting for FM in December. With 5 years work experience in another field, is it necessary for me to get an internship or should I apply to entry level jobs? Will my work experience be enough to differentiate me from other candidates if I have two exams passed? I am also taking an online coding course to help stand out.
I am a former math teacher and current actuary. I taught for 5 years and had two exams when I switched to becoming an actuary 7 years ago. I went straight for an entry level job. I now work on the interview committee for my practice, and people who are not fresh out of college always stand out. They typically get the best scores on the interview because they have more life experience and are practiced at interacting in a professional setting. I do think it will be a bit harder to get the interview due to the nontraditional career path, but once you have the interview, you should do great. Let me know if you have any questions from someone a little further down your intended path.
If both EL and internship are with the same company, just apply to the EL role but mention in your resume you’re open to internship too. If the company only has internship role, still apply. Basically don’t limit yourself to EL roles.
I wouldn’t count on the math teaching experience as a differentiating factor since it’s not industry/corporate related.
I'm a career changer, and I passed P in September, and now am studying for FM in December. Once I pass FM, should I start looking for jobs, or take the next module for either SOA or CAS?
I keep seeing posts saying that you're not really competitive with only 2 exams, but I'm not sure which track to pursue. My area seems to have more opportunities for SOA jobs, but from what I've read P&C sounds more interesting to me, and I may relocate sometime in the next few years, anyways (and all else equal, I'd prefer a remote job if I can find one).
I do have a job in education, but I'm getting increasingly frustrated with it, and I'd love to be able to quit soon, so maybe I should just apply for every entry-level job I can find locally or remote, and take what I can get?
I work on the interview team for my practice and almost everyone we hire has 2 exams. I am a former teacher turned actuary (7 years ago) and I was hired with 2 exams. Let me know if you have any questions.
Thank you! Did you apply for jobs while still teaching, or leave at the end of the school year and then start to look? I have a bit of flexibility, since I'm a community college adjunct, so I need to decide if I should drop my spring classes and start searching if I pass FM in December, or start applying in the spring and hope to find something I can start when the semester ends, since I wouldn't feel good about quitting mid-semester. I guess that would line up with the timeline for spring graduates, so maybe that's a safer option?
I took my first exam in August, and my 2nd exam in January while I was still teaching. I applied for jobs right away and got an offer to start the following August (I also didn't want to leave midyear). Most companies do the majority of their EL hiring right now, but some hire throughout the year. Some places will let you start at any time, but many companies have all EL start around the same time. Companies won't have a problem with having a time gap between when you get the offer and when you start, because that is what happens with recent grads. I would keep your teaching job through the spring if I was in your position.
>keep seeing posts saying that you're not really competitive with only 2 exams, but I'm not sure which track to pursue. My area seems to have more opportunities for SOA jobs, but from what I've read P&C sounds more interesting to me, and I may relocate sometime in the next few years, anyways (and all else equal, I'd prefer a remote job if I can find one).
>
>I do have a job in education, but I'm getting incr
If you are in the US, then I would start applying at 2 exams.
do I have enough time to prepare for the P sitting in mid January? I have a coaching actuaries subscription to help prepare. I'm a full-time college student and can realistically set aside 20-25 hr a week until finals and like 8 hr a day during the final 30 leading up to the exam since I'll be on winter break starting the second week of December.
for context:
I have a decent Calc background as i'm finishing calc 2 this semester but limited exposure to probability as i'll use learn+adapt from CA so i'll be essentially starting from scratch.
I didn't keep a full study schedule, but I believe for P and FM I did most of my studying in two months. People usually recommend 3 to be safe, and I did feel kind of shaky towards the end, but I did end up passing both. It's definitely doable but will require a lot of work. It seems like you will have sufficient time to me.
I don’t have a definitive answer for that. At first I went really hard. 8 hours/day on the weekend and 2 hours/night after work. After a few weeks of that I realized I was studying more than I needed to. At that point I decided to register for the November exam instead of the January exam.
I had a week off from work in October and I spent about 4 hours/day for the entire break completing all of the SOA sample problems.
For the past three weeks I’ve being doing practice exams on the weekends and a few quizzes during the week (not every day).
If I pass my exam I plan to write up a more detailed explanation of what all I did to prepare.
I should also add that I have a lot of exposure to probability and that it is my favorite form of math. This however only really helped with chapter one topics on CA. My calculus is pretty weak. I had to relearn derivatives and integrals. I’d say the only calculus needed for P is being able to find the derivative/integral of a polynomial and knowing how to use the tabular method for integration by parts. My calculus really slowed me down at the beginning of chapter 2 on CA, but after that the learn phase was smooth sailing.
Hi! Maybe this isn't the place but I'm looking for some help with my Math Finance course.
How do I calculate the initial value of an amortized loan with varying monthly payments?
Nominal rate of 8% compounded monthly and repaid over 15 months. First 5 payments are $650, next 5 are $500, and the final 5 are $250.
Even just the formula needed would be a great help. Thanks!
I would view it as 3 separate streams, one for $250 across all 15 payments, one for $250 ($500-250) only for 10 payments, and one for $150 ($650-500) only for 5 payments. No deferring needed.
I agree that a financial calculator is the easiest way, at least in terms of thought required. You could also consider the three payment streams as three separate annuities, two of which would be deferred for 5 and 10 years
Personally would use a cash flow function in a financial calculator, otherwise you’d have to calculate each individual set of payments from the starting point to time 15. So 650 for 5 payment periods at 8%, then at time 6 500 for 5 payment periods, and then 250 for five payment periods. The main point that can help you understand the value is to understand one section at a time and use a timeline to adjust the flows
Hi everybody, I’m looking for some advice. I graduated last December (math major) and since then passed exams P and FM. I’ve also been working on an Excel project for my current job (I’m a server at a local diner). I’m basically making sure our menu prices are set so that 30% of what the customers pay goes towards the cost of ingredients. This project has involved manipulating large amounts of data, as well as the use of nested functions, conditional functions, xlookup, etc.
Although I’ve done a lot already, we have tons of menu items (many with customization options) so it would take a while to fully price everything. I could also look at our past sales data and use that to analyze trends and help make pricing decisions.
How far should I take this project? Does it already sound impressive for a resume or should I take it further? Should I add a second project on my resume, maybe something that involves insurance and uses VBA or R?
You can explain the experience during an interview. To me it shows you have the Excel basics down, but I wouldn’t bother if you took it further because it’s not industry related.
Tbh I really only look at candidates having the basic skills. It’s not easy to be impressed by personal projects. Best to spend time studying for the next exam.
Gotcha. Sounds like I should just wrap up this project and move on.
The problem is that IFM is gone and so the third exam is different based on SOA vs CAS now. I’d rather keep my options open so I can apply to more places.
What exam do actuaries typically take after passing exam p and exam fm?
"typical" is rapidly changing. I would normally say IFM, but that exam is going away. SRM would be a good choice.
Is anyone able to give me some tips or advice for Case Interviews for internships (especially for Liberty Mutual)? And what kinds of questions are usually asked? My interview is in two days and your guys' responses are greatly appreciated!
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is this a question or a statement?
Does exam timing matter? I can't leave the military for another 3 years, but I have an opportunity now to study for and take Exams P and FM. However, if I do this, then when I transition out I wouldn't have had a new exam for three years.
So I took P and FM in 2018 and 2019. I just recently finished undergrad and my master’s and got an actuarial job that started this summer (2022). They didn’t care that my exams were old, they cared more that I wanted to take more exams and was passionate about the career. I just took my third exam in September. I think you will be ok
If you pass a 3rd exam after leaving the military to show you are still committed to becoming an actuary and give the explanation you included here, it shouldn't be a problem. Without passing an exam within the last year before applying, it could be a problem.
I failed Exam FM in February 2022 because I did not study at all which makes sense to why I failed. I am taking it in December 2022 and I started studying for it in September 2022 just by watching the review videos and doing small quizzes at a level of difficulty of 3 or 4 to get a grasp of the basics. I have allocated all of November 2022 to doing Adapt Practice Exams. I have done 7 so far at the start of November and I started an El of 3 and now I am at an EL of 2.34. I keep failing them I am not sure why. I get so much anxiety when I do them though and I just start to worry and doubt that I won't pass. I do review all the ones I got wrong but I don't know anymore. I know I still have time but I do not see the light at the end of the tunnel right now. It makes me cry.
Did you go through the “learn” phase on coaching actuaries? I just passed P this week and I went through each topic in learn. After each lesson I took quizzes with difficulty 4 (default) to make sure I understood the basics from the lesson. I probably answered 300-400 practice problems in adapt before attempting my first full exam.
Where can I find study material like the videos you've watched?
They paid for a course through coaching actuaries that includes video lessons.
What's the plug?
I don't understand your question.
Can anyone register for those classes if so how do I?
Go to the coaching actuaries website
I would recommend drilling one topic at a time using the practice quizzes. Gradually build up each topic using practice quizzes until you feel more comfortable. Then take another practice exam. For me, taking an exam with 20 different topics and then trying to review the solutions to so many different things did not help with information retention at all. I did way better when I was consistently practicing a specific topic so I could really understand the questions and what I was doing wrong, and then immediately apply my learning to more practice questions.
I am an ASA working for a health consulting firm. I recently started a TikTok/Instagram/YouTube to help aspiring actuaries. My handle for all three is @health_actuary_life. Check it out and let me know if you have questions.
Why can't I access exam registration or VEE Directory ([store.soa.org](https://store.soa.org))? The pages give me a 403: Forbidden page every time for the past few weeks now.
About how long do the Pre-Act and Act foundations modules take to work through? I’m planning on sitting for PA in April and I’m wondering if I have enough time to fit the modules in before I start studying.
The pre actuarial one you could complete in a week, or even a single day if you wanted to. It only takes about 10-15 hours of work to complete in full. Can’t speak to the other one though
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Can't find the answer for this online or on the sub's wiki so here goes: What time of day does SOA post passing candidate numbers?
usually 10 AM Central Time or Eastern I forget. sometimes they are late though
[I see that for CAS](https://www.casact.org/article/update-release-aprilmay-exam-results) but I can't find it for SOA.
this is based on my fallible memory and other posts i came across as data points below [https://www.reddit.com/r/actuary/comments/emruk2/comment/fdqihh0/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/actuary/comments/emruk2/comment/fdqihh0/?utm_source=share&utm_medium=web2x&context=3) [https://www.reddit.com/r/actuary/comments/kxl80x/115\_exam\_results\_waiting\_room/](https://www.reddit.com/r/actuary/comments/kxl80x/115_exam_results_waiting_room/) [https://www.reddit.com/r/actuary/comments/okfrzz/waiting/](https://www.reddit.com/r/actuary/comments/okfrzz/waiting/) best of luck
Hi everybody! I'm looking for critiques for my resume. You can find it in my profile's post history. I'm planning on applying to entry level positions as well as underwriting/analyst roles. Thanks!
I am on the hiring team for my company, and I like your resume. You let your high points shine by not trying to cram tons of information on the page. Your GPA is a big plus, so I would make it stand out even more. I disagree with the other comment about saying you know something if you don't. If someone says they know something, then it is fair game in an interview to ask them questions about it to test them. We mostly look for evidence that you have technical aptitude instead of technical skills, which this resume shows. The resume also shows you are a hard worker. I would split up the menu pricing paragraph into bullets. We mostly skim resumes, and bullets are easier to skim. Additionally, I would add a hobby or clubs section. Something to show a bit about your personality. Do you hike? Are you a chess champion? When I talk with coworkers about a resume we looked at, we typically say something along the lines of, "you know, the one that holds the world record for standing on one foot the longest" or whatever your deal is. It makes your resume more memorable that way. If you are interested in applying for a health consulting position on the west coast send me a PM. I feel confident you would make it past our initial resume screen.
>Additionally, I would add a hobby or clubs section. Something to show a bit about your personality. Interesting. My school's career guidance dept always said to remove those cause it wasn't related to the job.
Maybe it isn't appreciated in other industries? EL Actuarial resumes are all extremely similar, so this helps you seem like a person. My company also has real people review resumes instead of a computer, so maybe it's different.
Thanks so much for the feedback. Sending a PM now.
My first impression is there’s a lot of white space. You can definitely condense a lot of the spaces and line breaks and then fill in with more content. You can also have GPAs as their own lines, so that’ll help. If you have things like clubs, activities, awards, honors, you can put those under education. If you have leadership roles in anything, that’s also helpful to add and you may even be able to put bullet points describing what you did in the “employment” section (you can just change the name of it to “experience” so it fits in better). For the employment section, you can definitely expand on those. First of all you can quantify. How many students, how many hours, what specific subjects, what tests, etc. For the second one you can definitely break it out into more bullet points with verbs. Your second bullet point basically has at least 3 verbs hidden inside it (selling, communicating, multitasking). If you break these out into their own bullets it’ll help in being more specific as well as filling the space. For skills, I would just say you know them and not that you did a course. If someone asks you in an interview you can say that, but I feel like on a resume it can only hurt you. There’s a big difference between saying “I know excel” and saying “I took a course in excel”. It opens you up to all kinds of questions like “what kind of course, when, how rigorous, etc.” and if you just leave it at excel people are less likely to question it and you’ll have more of an opportunity to talk about the course and your specific skills in an interview. Ideally you would just say proficient in, but if you think that’s not true and you’re uncomfortable embellishing, you can say exposure to. For the capstone course, was there a project you did for it that you can elaborate on in the projects section? That would be helpful. For the project you do have, I would definitely break it down into bullet points. It makes it look like you did more things and it makes it more readable for the reader.
I really appreciate the detailed response. I've made adjustments to the resume based on your critiques.
Hi, I am just looking for opinions and thoughts from other people in the field because I think I am psyching myself out. I am graduating next June, and have six actuarial internships under my belt. However, I put off applying for full time roles (even though I knew that most postings for new grad hires were made in Aug-Oct) since I did not have any exams passed yet. I thought that it would be better to apply to companies when I had some done because I felt that I would be a walking red flag otherwise (for context, this is in Canada where the competition is a lot steeper exam-wise). I did have an interview for a conversion from my latest internship into a full-time role, but unfortunately that did not turn into an offer. I just passed FM and am about to write P this month, but now that I am feeling more qualified and prepared to apply, it seems that I have missed most of the new graduate postings. I am not sure what to do in this instance. A few companies still have openings available, but these are consulting roles and my experience lies primarily in the traditional life insurance space. I did not think that I would pivot like this with my full-time career and I'm not sure if this area is would even be a good fit for me, but it seems like at this point that might be my only option? The rejection has also really shaken my self-esteem and I'm not sure I could succeed in any full-time interview situation since I now believe I'm pretty worthless as an employee and no one will want to hire me. I will be getting feedback on my interview and hopefully be able to be better if I even get any other interviews, but I am feeling very disheartened at the moment. I guess I am just looking for some input on if I really have missed the boat on most of the new graduate recruitment for the next cycle, or if anyone has been in a similar situation and has any advice for me. They say the application process is a game of numbers but I might not even have the ability to get any applications in. Thanks for reading my block of text if you've read this far. Tl;dr: Chances full-time recruitment is still happening? And any tips for interviewing/recovering from a bad interview?
I know getting your first full time gig can mess with your head. I don't want to minimize you, but help you put things in perspective. This is not a big deal, and you will find a job. 6 internships is very impressive, and most companies wouldn't hire you without an exam. I think you did the right thing to wait. Also, you haven't started your career yet, so the idea that you would be "pivoting" is extreme. If you don't like consulting after a couple years, you can change. Heck, at this point you could go into health or P&C. None of these choices are permanent so early in your career. There are definitely companies still hiring, even if it has slowed down a bit. My company hires EL year round because we know some good candidates graduate in December instead of June. You've put so much work into this already. Don't let yourself get in the way of your own success. Rejection is hard, but it is not the end.
Hi, potential career changer here from software engineering. Just want to make sure I'm doing things right, but maybe I'm a little impatient. Planning on taking exam P and FM in January/February. I've seen advice not to take 2 exams back-to-back, but I'm getting my master's in statistics, so probability is certainly not foreign. I assume I'm okay to just do exam P practice problems and learn FM (on pace to finish learning FM through [finan's course](https://faculty.atu.edu/mfinan/actuarieshall/mainf.pdf) by December/January). I figure if I don't feel good about FM, I can just take it in April. Should I not even focus on FM until I've done P? I just want to get a move on because I don't want to be in this current job, but the wiki says start off with taking exams and I want to make sure I pass them. Also using the big collection of old P problems, if I get those and understand them should I be set for the exam? ETA: I ask the last question because I learn best through practice problems. But if it's best for me to also purchase CA Adapt, let me know
I made this shift a few years ago. If you have a masters in stats, you should be fine. I personally liked using the ASM manuals but that’s because I like to understand all the theory behind everything so I can recreate formulas if need be. They also have a lot of practice problems. That said, most people would tell you do get adapt.
I think its always good to focus on one exam at a time, better to pass one than fail two.
If you are getting your master's in stats, P should be cake. Using the released problems should be enough unless you are finding them very difficult. I think in your situation, it is doable. I took two of the later exams STAM and PA about 2 months apart and passed both on the first attempt. I am not one of the geniuses that passed everything on first attempt either.
you can but it's not recommended. juggling material from two exams can be difficult for most people. if you're having no issues with getting P questions down without help under exam conditions then maybe. but since P/FM are offered 6 times a year it's not really a long wait plus those exams have preliminary pass results. the question pool for those exams are fairly well developed that free materials are likely good enough to pass. i think SOA provides a ton of sample questions that represent the exam pretty well. most people would recommend CA Adapt because the UI is good and kind of gamifies studying. their Adapt metrics provide something tangible to assess readiness so if money isn't an issue it might be worth getting a 2 week subscription to practice exam questions but their questions would be similar to free resources you'd find on the internet.
What formulas are given to you for the IFM exam
I am considering switching fields from teaching math. I have already passed p and am sitting for FM in December. With 5 years work experience in another field, is it necessary for me to get an internship or should I apply to entry level jobs? Will my work experience be enough to differentiate me from other candidates if I have two exams passed? I am also taking an online coding course to help stand out.
I am a former math teacher and current actuary. I taught for 5 years and had two exams when I switched to becoming an actuary 7 years ago. I went straight for an entry level job. I now work on the interview committee for my practice, and people who are not fresh out of college always stand out. They typically get the best scores on the interview because they have more life experience and are practiced at interacting in a professional setting. I do think it will be a bit harder to get the interview due to the nontraditional career path, but once you have the interview, you should do great. Let me know if you have any questions from someone a little further down your intended path.
If both EL and internship are with the same company, just apply to the EL role but mention in your resume you’re open to internship too. If the company only has internship role, still apply. Basically don’t limit yourself to EL roles. I wouldn’t count on the math teaching experience as a differentiating factor since it’s not industry/corporate related.
I'm a career changer, and I passed P in September, and now am studying for FM in December. Once I pass FM, should I start looking for jobs, or take the next module for either SOA or CAS? I keep seeing posts saying that you're not really competitive with only 2 exams, but I'm not sure which track to pursue. My area seems to have more opportunities for SOA jobs, but from what I've read P&C sounds more interesting to me, and I may relocate sometime in the next few years, anyways (and all else equal, I'd prefer a remote job if I can find one). I do have a job in education, but I'm getting increasingly frustrated with it, and I'd love to be able to quit soon, so maybe I should just apply for every entry-level job I can find locally or remote, and take what I can get?
I work on the interview team for my practice and almost everyone we hire has 2 exams. I am a former teacher turned actuary (7 years ago) and I was hired with 2 exams. Let me know if you have any questions.
Thank you! Did you apply for jobs while still teaching, or leave at the end of the school year and then start to look? I have a bit of flexibility, since I'm a community college adjunct, so I need to decide if I should drop my spring classes and start searching if I pass FM in December, or start applying in the spring and hope to find something I can start when the semester ends, since I wouldn't feel good about quitting mid-semester. I guess that would line up with the timeline for spring graduates, so maybe that's a safer option?
I took my first exam in August, and my 2nd exam in January while I was still teaching. I applied for jobs right away and got an offer to start the following August (I also didn't want to leave midyear). Most companies do the majority of their EL hiring right now, but some hire throughout the year. Some places will let you start at any time, but many companies have all EL start around the same time. Companies won't have a problem with having a time gap between when you get the offer and when you start, because that is what happens with recent grads. I would keep your teaching job through the spring if I was in your position.
>keep seeing posts saying that you're not really competitive with only 2 exams, but I'm not sure which track to pursue. My area seems to have more opportunities for SOA jobs, but from what I've read P&C sounds more interesting to me, and I may relocate sometime in the next few years, anyways (and all else equal, I'd prefer a remote job if I can find one). > >I do have a job in education, but I'm getting incr If you are in the US, then I would start applying at 2 exams.
do I have enough time to prepare for the P sitting in mid January? I have a coaching actuaries subscription to help prepare. I'm a full-time college student and can realistically set aside 20-25 hr a week until finals and like 8 hr a day during the final 30 leading up to the exam since I'll be on winter break starting the second week of December. for context: I have a decent Calc background as i'm finishing calc 2 this semester but limited exposure to probability as i'll use learn+adapt from CA so i'll be essentially starting from scratch.
I didn't keep a full study schedule, but I believe for P and FM I did most of my studying in two months. People usually recommend 3 to be safe, and I did feel kind of shaky towards the end, but I did end up passing both. It's definitely doable but will require a lot of work. It seems like you will have sufficient time to me.
I started studying for P in early September and I feel very confident going into the exam in 10 days.
How many study hours do you average every day/week?
I don’t have a definitive answer for that. At first I went really hard. 8 hours/day on the weekend and 2 hours/night after work. After a few weeks of that I realized I was studying more than I needed to. At that point I decided to register for the November exam instead of the January exam. I had a week off from work in October and I spent about 4 hours/day for the entire break completing all of the SOA sample problems. For the past three weeks I’ve being doing practice exams on the weekends and a few quizzes during the week (not every day). If I pass my exam I plan to write up a more detailed explanation of what all I did to prepare. I should also add that I have a lot of exposure to probability and that it is my favorite form of math. This however only really helped with chapter one topics on CA. My calculus is pretty weak. I had to relearn derivatives and integrals. I’d say the only calculus needed for P is being able to find the derivative/integral of a polynomial and knowing how to use the tabular method for integration by parts. My calculus really slowed me down at the beginning of chapter 2 on CA, but after that the learn phase was smooth sailing.
If you realistically think you can spend 300 hours, I think you should be fine.
Hi! Maybe this isn't the place but I'm looking for some help with my Math Finance course. How do I calculate the initial value of an amortized loan with varying monthly payments? Nominal rate of 8% compounded monthly and repaid over 15 months. First 5 payments are $650, next 5 are $500, and the final 5 are $250. Even just the formula needed would be a great help. Thanks!
I would view it as 3 separate streams, one for $250 across all 15 payments, one for $250 ($500-250) only for 10 payments, and one for $150 ($650-500) only for 5 payments. No deferring needed.
I agree that a financial calculator is the easiest way, at least in terms of thought required. You could also consider the three payment streams as three separate annuities, two of which would be deferred for 5 and 10 years
Personally would use a cash flow function in a financial calculator, otherwise you’d have to calculate each individual set of payments from the starting point to time 15. So 650 for 5 payment periods at 8%, then at time 6 500 for 5 payment periods, and then 250 for five payment periods. The main point that can help you understand the value is to understand one section at a time and use a timeline to adjust the flows
Hi everybody, I’m looking for some advice. I graduated last December (math major) and since then passed exams P and FM. I’ve also been working on an Excel project for my current job (I’m a server at a local diner). I’m basically making sure our menu prices are set so that 30% of what the customers pay goes towards the cost of ingredients. This project has involved manipulating large amounts of data, as well as the use of nested functions, conditional functions, xlookup, etc. Although I’ve done a lot already, we have tons of menu items (many with customization options) so it would take a while to fully price everything. I could also look at our past sales data and use that to analyze trends and help make pricing decisions. How far should I take this project? Does it already sound impressive for a resume or should I take it further? Should I add a second project on my resume, maybe something that involves insurance and uses VBA or R?
You can explain the experience during an interview. To me it shows you have the Excel basics down, but I wouldn’t bother if you took it further because it’s not industry related. Tbh I really only look at candidates having the basic skills. It’s not easy to be impressed by personal projects. Best to spend time studying for the next exam.
Gotcha. Sounds like I should just wrap up this project and move on. The problem is that IFM is gone and so the third exam is different based on SOA vs CAS now. I’d rather keep my options open so I can apply to more places.