Hi all,
I have some very basic questions. I am interested in taking the actuarial exams, more so to challenge myself and almost as a weird "hobby".
I've worked in finance for about 6 years in a quantitative role. Basically derivative pricing. My formal academic background is in mathematics/physics.
I've completed both FRM and CFA.
I'm considering a schedule like
MFE March
C Jun
MLC Oct
FM Dec
I'd either squeeze the P exam in there somewhere depending on how things were going or aim to take it early the following year. Then take the three upper level course over the next year or two. Will my order of taking them cause me problems?
Is this a realistic idea? Or will I get a rude awakening? I work long days but could probably aim for 20 hours a week of study. And I'd plan on taking 3-5 days off work before each exam.
As for materials, I found the Marcel Finan website and notes online. I know there is a recommended text but would this text be sufficient on it's own? When I looked on Amazon there seems to be two extra books - a solutions manual and a questions manual so I'm confused whether the solutions manual is the solution to questions in the book or to the questions in the questions manual.
If I just bought the recommended book, would it be sufficient to pass the exam? I think that the same text is used for FM and MFE.
I looked at the links on the SOA website for study materials but there are just so many options that it's difficult for me to tell what is needed and what is a duplicate of something else. I am guessing that practice exams would be important even if I didn't purchase any study materials.
So does my plan sound reasonable? Or should I do the courses/modules as I go along. I know that it recommends that I take the ERM module before the ERM exam. I am looking at the QFI track at the minute mainly because it is the closest to my current work. I am thinking that I'd just do the exams and then later on go through the modules.
I don't need to do this for work, but if I start it I will probably finish it.
Any advice is greatly appreciated
I have some very basic questions. I am interested in taking the actuarial exams, more so to challenge myself and almost as a weird "hobby".
I've worked in finance for about 6 years in a quantitative role. Basically derivative pricing. My formal academic background is in mathematics/physics.
I've completed both FRM and CFA.
I'm considering a schedule like
MFE March
C Jun
MLC Oct
FM Dec
I'd either squeeze the P exam in there somewhere depending on how things were going or aim to take it early the following year. Then take the three upper level course over the next year or two. Will my order of taking them cause me problems?
Is this a realistic idea? Or will I get a rude awakening? I work long days but could probably aim for 20 hours a week of study. And I'd plan on taking 3-5 days off work before each exam.
As for materials, I found the Marcel Finan website and notes online. I know there is a recommended text but would this text be sufficient on it's own? When I looked on Amazon there seems to be two extra books - a solutions manual and a questions manual so I'm confused whether the solutions manual is the solution to questions in the book or to the questions in the questions manual.
If I just bought the recommended book, would it be sufficient to pass the exam? I think that the same text is used for FM and MFE.
I looked at the links on the SOA website for study materials but there are just so many options that it's difficult for me to tell what is needed and what is a duplicate of something else. I am guessing that practice exams would be important even if I didn't purchase any study materials.
So does my plan sound reasonable? Or should I do the courses/modules as I go along. I know that it recommends that I take the ERM module before the ERM exam. I am looking at the QFI track at the minute mainly because it is the closest to my current work. I am thinking that I'd just do the exams and then later on go through the modules.
I don't need to do this for work, but if I start it I will probably finish it.
Any advice is greatly appreciated
Some very basic questions.