How actuarial exams work (Everything you need to know)

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How actuarial exams work (Everything you need to know)

Рет қаралды 45,811

Etched Actuarial

Күн бұрын

Пікірлер: 95

@BarrioFinoification 6 жыл бұрын

Can you make an video telling us where in the exam process you are currently at? How do you stay motivated during the entire process before writing an exam? How do you get in the right mental space to knock out practice exams? My reason is because I am writing exam P in a few days but I feel like I'm just not prepared enough. I used Adapt for the practice exam and a few other practice exams from other places. Also, can you make an office tour where you study and the amount of work you do to prepare for a prelim exam.

@mjdny9871 4 жыл бұрын

You know your stuff well, good job. 👍. I learned so much in 20 min video

@reformed5786 4 жыл бұрын

Is there any high school freshman here? I'm a high school freshman who loves math, so I'm considering the actuary career.

@Glo_mur 4 жыл бұрын

i had a speaker in school who wanted to be youngest actuary(10-15 years ago), you should try to take exams early

@britdalcais3967 3 жыл бұрын

I'd say enjoy your life first... but if you want to go for I say hell yeah! get into a test prep and take the test. Can't hurt

@ostertag100 Ай бұрын

An outstanding overview. Well done!!

@EtchedActuarial Ай бұрын

Thanks! Happy to help. :)

@bubblebuddy8815 2 жыл бұрын

Thank you for this. I'm brand new to all this and these videos are so helpful. I noticed how in this video and all your other videos you always said "write" a test and this had me so confused for so long. I read online that saying "write" is a Canadian way of saying "take" lol.

@EtchedActuarial 2 жыл бұрын

Oh wow, I didn't even know that was a Canadian thing! 😂 But I'm so happy I could help!

@monz586 4 жыл бұрын

thank you so much for your video!! it was really insightful and it helped me to understand actuary more!!

@khrishvastani3512 4 жыл бұрын

These videos are so good and informative. I'm in year 11 right now and I am strongly considering becoming an actuary. These videos really help me to understand the profession as well as the journey. Would all of this information apply to UK actuarial exams as well or are there any variations?

@EtchedActuarial 4 жыл бұрын

I'm so glad this helped! I'm not very familiar with the UK exams. I believe they're structured a bit differently.

@efratmalik98 3 жыл бұрын

any community college students here?

@kiprejoel-kgjplatform8463 3 жыл бұрын

Really useful info. Thank you!

@EtchedActuarial 3 жыл бұрын

Glad it was helpful :)

@kiprejoel-kgjplatform8463 3 жыл бұрын

@@EtchedActuarial Yeah, it truly is. I'm planning to start a Master program in Actuarial science and Financial Mathematics.

@EtchedActuarial 3 жыл бұрын

@@kiprejoel-kgjplatform8463 We normally don't recommend getting a Master's degree in Actuarial Science. Find out more here: etchedactuarial.com/no-masters-actsci/

@bahatij1 2 жыл бұрын

Brilliant explanation

@EtchedActuarial 2 жыл бұрын

Glad I could help! :)

@joysirius6107 Жыл бұрын

9:14 shows how great is someone get through it. Actuary isn't a joke.... I love Actuary, it is my dream job,I love mathematics and I'm doing right now but my brain doesn't have that much to understand even basic concept. 😞☹️... Primary teacher is the only hope for me, I guessed.

@EtchedActuarial Жыл бұрын

Hey there! I'm sorry to hear you've been struggling. But don't give up on your dream job! I think this article will help you: etchedactuarial.com/smart-enough-actuary/ Keep working hard, you can do this!

@joysirius6107 Жыл бұрын

@@EtchedActuarial I appreciate you taking the time to advice me. Thank you for your help. May God bless you.

@alfredtovar6451 3 жыл бұрын

She quit actuary to do youtube. That says alot about which field I need to go into.... youtube!

@maddieverson4130 3 жыл бұрын

she quit being an actuary to help others become actuaries with her course. she did not quit for youtube

@BiHuSrcu 2 жыл бұрын

Etched, Where do I take these preliminary exams? Sign up on the SOA website??? I live in the USA. Does the company that conducts testing/SOA have prep material???

@EtchedActuarial 2 жыл бұрын

Hi there! :) You can register for exams here: www.soa.org/education/exam-req/registration/edu-registration/ SOA does have prep material, but you'll probably want to use additional study materials to prepare for the exam too. Which exam are you starting with? I can give you my recommendations!

@BiHuSrcu 2 жыл бұрын

@@EtchedActuarial Etched ty for the response. I am a current secondary math teacher. Wanted to get to work straight out of college. Now, I am looking to challenge myself and see if I can pass a test or two to transition to an actuarial career. I think you mentioned P1 and FM as the 1st two test I need to complete. I am wondering if I pass both of those off 1st or 2nd try, am I a safe bet to at least get somewhere as an actuary? How should I space out the test taking? I have nights and weekends to study, that's it.

@fazioyuri Жыл бұрын

Hi, do you know where i can find study materials for all CAS EXAMS?

@EtchedActuarial Жыл бұрын

Hi there! The best study materials for you will depend on your budget and preferences (like if you prefer a manual or video lessons). This articles goes into all your options for Exam 1/P: etchedactuarial.com/best-study-manual-for-exam-p/ Most of these options are also available for the higher level exams. But please note that the AAC no longer offers study materials! Hope this helps! :)

@fazioyuri Жыл бұрын

@@EtchedActuarial the budget doesn’t matter. I want a company which offers me materials such videos or manuals for all CAS exams

@phy6thinker329 4 жыл бұрын

Do you know what are the acturial exam srilankan can face? Plz help me and how?

@anotheperspective 5 жыл бұрын

Thanks very much for this. I am studying actuary Science in Cyprus. Please How and where do you suggest I could take those exams? Will it be possible I come to Canada or USA to take the it and as well don an internship?

@EtchedActuarial 5 жыл бұрын

You'd be best off taking the actuarial exams for the actuarial society where you plan to work. If you plan to work in Canada or the US then the SOA/CAS exams are the ones you should take. You don't necessarily have to come to US or Canada to take them as there are prometric testing sites in various countries around the world, but after a quick search it doesn't look like there is one in Cyprus that offers the SOA exams unfortunately.

@EtchedActuarial 4 жыл бұрын

@Shubham Sharma Go here and click "locate" on the left hand side: www.prometric.com/soa

@luker3166 4 жыл бұрын

Thanks for the video! There is one thing I'm wondering in these strange times as someone still scheduled to write my first exam - Exam FM - in April (not cancelled yet at least). Are the computer-based exams generally taken in a room alone by yourself or with others?

@EtchedActuarial 4 жыл бұрын

In my experience there were others taking exams at the same time. I don't think they were actuarial exams though. Prometric offers testing for many different organizations so it may not be all SOA candidates taking the exam at the same time.

@lemontea000 6 жыл бұрын

Loved the video!

@lemontea000 6 жыл бұрын

Commenting as im watching because i know it’s going to be a great video

@EtchedActuarial 6 жыл бұрын

Thanks lemontea :)

@apoorvagupta3371 6 жыл бұрын

Can we do more than one specialisation?

@EtchedActuarial 6 жыл бұрын

No just one. By that time you'll be glad you're through them all and can finally relax!

@xboxman5ify 3 жыл бұрын

im the military right now will be for another 4.5 years i'm 19 right now so i haven't done any college or anything and i'm considering being an actuary after i'm out do you think it's possible for me to start studying for these exams while i'm still in the military and try to take one or two of them before i really start college or is this something i need to wait until i'm in college to do? part time college won't be an option for me until at least a year from now but once it is an option for me i will have very little time and will likely only be able to take one college course at a time but right now i only work a little over 40 hours a week so i have a lot of time but like i said using that free time for college isn't an option so i was wondering if studying for these exams could be productive for me despite the fact that i have no college education yet.

@EtchedActuarial 3 жыл бұрын

You can definitely start studying for these exams now! I recommend starting with Exam FM if you don't have a lot of calculus exposure yet.

@tomasfinucci5908 5 жыл бұрын

Hi, I’m from Argentina and I’m in my first year. In order for me to work in the US in a future scenario I would need to pass these Exams. So, my concern is if these exams are additional to the Actuarial Studies degree or they are part of the study program of this career. If they are additional to the career, when should I start to apply for these exams? And should I do them all before I graduate? Thanks a lot.

@EtchedActuarial 5 жыл бұрын

They are in addition to getting your bachelors degree. You can start studying for them any time now but if you start now you may have to do some self-teaching for calculus. Khan Academy is great for this. I recommend having a fairly good understanding of limits, integration, differentiation and series. Here's a link: www.khanacademy.org/math/calculus-all-old You should try to complete 3 exams before you graduate. It would also be good if you could get one or two actuarial internships while you're going through school. Most employers will want you to have passed at least one exam in order to be hired as an intern though.

@fuccckckkkkckkck 3 жыл бұрын

If my local university doesn’t offer a degree but it offers a certificate is that still good enough?

@dariobrzovic9838 3 ай бұрын

hy , thanks for the video , I started studying the materials for the preliminary exams today , but im not sure how much time will it take me to be ready to pass the exams p,fm and the rest of them. could you help me with some math plese?

@EtchedActuarial 3 ай бұрын

It's great that you've begun the process! But the time it takes to prepare varies for each person, so I can't give you a definite answer for this. But consistency and persistence do pay off! As for the help you need for Math, I run a Facebook group where I share daily actuarial exam samples for practicing math skills. Feel free to join us there: 1. facebook.com/groups/1516018451749814/ 2. facebook.com/groups/132162247405193/

@ameyagupta8775 3 жыл бұрын

Thank you so much!!! It was the best video for actuarial science so far. Although i have question... can i give Actuary Sciences exams after i have completed my CPA?

@EtchedActuarial 3 жыл бұрын

You can definitely do that but I wouldn't advise for it. Getting one certification is already a lot of work. It's best to decide whether you want to become an actuary or accountant and build the skills and experience to become a top candidate in one domain!

@ameyagupta8775 3 жыл бұрын

@@EtchedActuarial yes, you are right. Thank you!

@EtchedActuarial 3 жыл бұрын

@@ameyagupta8775 No problem :) Good luck!

@debasishbiswas1349 3 жыл бұрын

How is FRM course in finances

@olabanjigbenga4150 2 жыл бұрын

hello good morning, i saw your video and i have subscribed to your channel. i am a Nigerian employed as an Actuary with the Government. i studied mathematics at the university. i need a comprehensive guide on how to become an associate, the cost and how to apply with what levels to start from and exams to apply for. thank you

@EtchedActuarial 2 жыл бұрын

Hi there! :) Unfortunately I'm not familiar with the actuarial environment in Nigeria, so I'd recommend checking with your local actuarial society for more info! Sorry, I wish I could help more!

@arun455 2 жыл бұрын

can someone be an actuary even if they haven't done bachelors in actuarial or mathematics, and graduated engineering subjects like mechanical and electrical engineering?

@EtchedActuarial 2 жыл бұрын

Hi Arun! Yes, you definitely can. The only difference is that you'll have to teach yourself more of the exam material if you didn't learn it in school. If you're willing to learn and study hard, you can be an actuary for sure. Best of luck on your journey!

@reighndenisechua2179 3 жыл бұрын

Hello! Can I ask why does it took many years in actuarial exam? just like you can take it all for 1-2yrs. What’s with the long span?

@EtchedActuarial 3 жыл бұрын

It takes a lot of time to fully prepare for actuarial exams!

@lucascunha2066 2 жыл бұрын

I'm from Brazil and I intend to take the exams, but I don't know where it says where my exam will be applied, could you tell me where I can find the addresses of the places available for the exams

@EtchedActuarial 2 жыл бұрын

Hi Lucas! My expertise is with the US and Canadian actuarial journey, and I'm not familiar enough with the actuarial association in Brazil to say. Sorry, I wish I could help more!

@kaylasaysalot 2 жыл бұрын

So, I'm a sophomore in college for economics and I was wondering if it is too late to start the actuarial career path process and also what other classes or resources that could help

@EtchedActuarial 2 жыл бұрын

Definitely not too late! We have many members who are career changers as well, so it's never too late to pursue your dream job. See this post for some relevant courses you can consider etchedactuarial.com/best-actuary-major/

@kuldeepdilawari9976 3 жыл бұрын

Hi,Thank you so much for sharing your experience.I want to know if actuary exams are really difficult.Can I start my at the age of 42?I want to know the link.I live in Brampton,Canada.

@EtchedActuarial 3 жыл бұрын

Actuarial exams are difficult! Check out this video to learn more about starting later on in your career: kzfaq.info/get/bejne/b62cepZetcXGfqs.html It is a big decision to make so I recommend exploring the channel to determine if this is the right fit for you. This is also a helpful video to start with: kzfaq.info/get/bejne/d6mPZ8SS3Z7TdnU.html

@amanagarwal3863 3 жыл бұрын

Can you please say what were your earnings when you were a actuary

@EtchedActuarial 3 жыл бұрын

Hey Aman you can learn more about salaries here: etchedactuarial.com/much-actuaries-make/ etchedactuarial.com/actuary-salary-analysis/

@amanagarwal3863 3 жыл бұрын

From which university you completed your actuary exam

@EtchedActuarial 3 жыл бұрын

Waterloo! You can learn more about the experience here kzfaq.info/get/bejne/npxkaZlju9jeook.html The actuarial exams are actually administered through the SOA instead of the university.

@umangsaini8559 3 жыл бұрын

Hey Ma'am I am just willing to ask u whether u r an Associate or a fellow Actuary?

@EtchedActuarial 3 жыл бұрын

Associate!

@matthewkheyfets1309 4 жыл бұрын

Is it really much better once all the exams are done?

@EtchedActuarial 4 жыл бұрын

I'd imagine so! You'd have lots more free time to spend on whatever you want rather than studying.

@harshjoshi2341 5 жыл бұрын

Are IFOA and SOA/CAS students given equal preference in the US or Canada?

@EtchedActuarial 5 жыл бұрын

I'm not 100% sure about this. I think you'd have to get credits for the exams under SOA or CAS. Any credits you have under the IFOA are probably transferable to the SOA/CAS. You may be able to get more help with this in the actuarial subreddit forum.

@woblogs2941 3 жыл бұрын

If someone clears become the fellow from ifoa will SOA exempt them?

@EtchedActuarial 3 жыл бұрын

This is something that's best to check with the SOA!

@woblogs2941 3 жыл бұрын

@@EtchedActuarial thanks 😇

@lajecley1550 2 жыл бұрын

Am wondering what writing exams mean in actuary. Does it mean by any chance setting exams or examiners set for you and then am just required to answer them. Need your help please. Thanks

@etchedactuarialinc4929 2 жыл бұрын

There are standard exams that you have to pass!

@lajecley1550 2 жыл бұрын

So there are standard one that I must answer for me to pass, right?

@EtchedActuarial 2 жыл бұрын

@@lajecley1550 yes

@lajecley1550 2 жыл бұрын

Thank you 😊💟

@lukeatlas5337 3 жыл бұрын

Does SOA’s Curriculum contain a required programming language? I can’t seem to find it anywhere but I’ve heard many actuaries use programming at their job.

@EtchedActuarial 3 жыл бұрын

There isn't a required programming language, but technical skills are definitely an important aspect of actuarial positions. We have an Excel and VBA course in the Actuary Accelerator Community along with a challenge and project ideas that are relevant to common actuarial problems. You can find more information about the Actuary Accelerator Community here: etchedactuarial.com/accelerator/

@Remitar 6 жыл бұрын

How accurate do you think the recommended estimate of 100 study hours is per exam hour is? I passed P and FM each with less than 300 hours of studying and am curious about if the recommendation will become more relevant with IFM or later exams. Thanks

@EtchedActuarial 6 жыл бұрын

It really depends on the person. Study habits, prior exposure to the material, and how quickly you can catch onto topics have a big impact. My guess is that since you did it in less than 100 hrs per hour of exam that it'll probably be similar to IFM and most of the other preliminary exams. Fellowship level exams are a completely different format, harder and require different skills so you'll probably end of spending more time studying for those than the prelim exams.

@jayjaza2682 4 жыл бұрын

Reason for no dislikes: Associate exams are multiple choice...

@junaidhasan1034 4 жыл бұрын

CIA conduct exams only in canada??

@EtchedActuarial 4 жыл бұрын

It's the Canadian Institute of Actuaries. They don't have their own exams; instead Canadian actuaries take SOA and CAS exams and those are enough to get membership in the CIA (along with a few extra requirements)

@FNasci1244 5 жыл бұрын

Is a bachelor’s degree required?

@EtchedActuarial 5 жыл бұрын

Highly recommended because you're unlikely to get a job without one, although it's not technically a requirement to become an actuary. You can find a bit more about this in step 1 here: etchedactuarial.com/steps-to-becoming-an-actuary/