Well done, Jeff! I see you did some work in researching the ASA structure. I know the effort it required to put this video together (with all the beautiful graphic designs and visualization) was more than the research.
Thank you for such wonderful contributions Jeff, I'm getting started on the exams and I love how you break down all the information in your videos, keep going :)
Jajajaja, FM and P took me 2 attempts each. I am not the smartest guy in class but people identifies me as a sharp, smart and fast worker. After having spent 1k for just two tests and realizing I am not as good as the near me pretend I am, I am not sure if continuing is worthy 😢😢😢😢 taking those exams at 52 and working in something no related at all with the tested topics makes me to think!!!!
You did good. The easiest way to fail is to be cocky. Most smart test takers underestimate actuarial exams,then they fail over and over. They pass after paying the due respect for the exams and putting in the required hours.
This has been a really helpful guide. I got stuck on FM for longer than I should have, got a 5 in both February and April after starting my studying in mid-December. Now that I really understand what it takes to pass one of these exams, I should be more than prepared for my sitting this week. Honestly, I don't mind having more exams ahead of me, especially if each exam seems to take fewer attempts on average.
Hey Jeff, I would like to follow your advice and take the exam PA after SRM, but the exam PA is $1125 and the exam FAM is $375. If you qualify for the Diversity Exam Reimbursement Program, you can request a refund. I have received refunds for exams P and FM, but unlike exam FAM, exam PA is not included in the list. So due to financial constraints I will take exam SRM and then FAM.
You still need to be able to interpret R code, but you will not have to write code yourself. Here is the link to the syllabus where you can find out more about the exam: www.soa.org/4adf8d/globalassets/assets/files/edu/2024/spring/syllabi/2024-04-exam-pa-syllabus.pdf
Based on a recent poll from 100+ employers, about 40% won't consider your resume unless you have 2 exams. Another 20% prefer 3+, so I would aim for 2-3. Prior internship experience, good interview skills, location, and a number of other variables are going to factor into the hiring process well. If your university has an actuarial network, use those resources to your advantage. Hope that helps. Good luck.
How many hours f study is needed to pass exams P and FM? Can one attempt both at the same time? I am a retired insuer at 53 and I can give my best shot to earn Actuarial Science Qualification but I need the best and shortest route. Sitting down at home with nothing much to do, i guess I can do it? Please advise
It really depends on your background, but typically a few hundred hours per exam. The exams are offered every other month, so you could technically take them back-to-back if you put in the time.
@jxyang44 Conservatively I guess 1200 hours of regular study all together should be enough to get ASA credentials! Average 150 to 200 hours of study for each subject with an average of 2 hours consistant approach ; As a retired person and with good maths as well as insurance background its doable. What is your opinion?
@@tislaoman I like your enthusiasm! Realistically, it's quite optimistic though. The exams get harder as you progress, so it may take more time to prepare for the exams. The fail rates on these exams is also in the double digits, so even though nobody plans to fail, it most likely will happen, resulting in +100s of more hours.
@@jxyang44 Have you considered the kind of assistance, multiple tutoring lectures, past papers their solutions and study guides available on internet? I think 12 years ago we had dearth of knowledge and info than what we have today. With a little aberration may i ask what is your opinion on AI replacing the role of an Actuary?
@@tislaomanYes, having access to more study materials will make the process easier. I don't really know how, to what extent, or whether AI will replace actuaries. I think it's really difficult to make any meaningful predictions. I've been using generative AI on a regular basis since ChatGPT first launched, and so far it's been a very helpful tool for writing, coding, problem-solving, and data analysis.
Well done, Jeff! I see you did some work in researching the ASA structure. I know the effort it required to put this video together (with all the beautiful graphic designs and visualization) was more than the research.
I really appreciate this insightful comment. Thank you!!
Thank you for such wonderful contributions Jeff, I'm getting started on the exams and I love how you break down all the information in your videos, keep going :)
Great video! I learned so much about the actuarial exams. Nice graphics!
Thank you!
Great effort here Jeff, I love how you focused on the details but still kept it general and provided amazing insights 👏, keep it up!
Excellent video, I'll be watching your channel to see what's next!
Jajajaja, FM and P took me 2 attempts each. I am not the smartest guy in class but people identifies me as a sharp, smart and fast worker. After having spent 1k for just two tests and realizing I am not as good as the near me pretend I am, I am not sure if continuing is worthy 😢😢😢😢 taking those exams at 52 and working in something no related at all with the tested topics makes me to think!!!!
You did good. The easiest way to fail is to be cocky. Most smart test takers underestimate actuarial exams,then they fail over and over. They pass after paying the due respect for the exams and putting in the required hours.
Wow. I am very impressed. This video is pretty well done and very informative. Good job Jeff.
HOW DOES THIS NOT HAVE MORE VIEWS AWESOME VIDEO
Thanks :D
dang what a great video! Thank you for making this!
Hi Jeff, as promised, your LinkedIn family is here to support 👏🏽
This is absolutely amazing! I wish we have something similar for IFOA and CAS!
Hint taken!
This has been a really helpful guide. I got stuck on FM for longer than I should have, got a 5 in both February and April after starting my studying in mid-December. Now that I really understand what it takes to pass one of these exams, I should be more than prepared for my sitting this week. Honestly, I don't mind having more exams ahead of me, especially if each exam seems to take fewer attempts on average.
Good luck!
definitely getting easier! some of the new exams (SRM, PA) were a straight joke
😂😂
this was super helpful. i'm looking to make a pivot and this breaks down the path perfectly
Thank you so much. Amazing video here.
Hey Jeff, I would like to follow your advice and take the exam PA after SRM, but the exam PA is $1125 and the exam FAM is $375. If you qualify for the Diversity Exam Reimbursement Program, you can request a refund. I have received refunds for exams P and FM, but unlike exam FAM, exam PA is not included in the list. So due to financial constraints I will take exam SRM and then FAM.
Please, how did you go about the refund
Why the hell is an exam $1125? That's preposterous
Wow well done. I've long given up on trying to understand exam changes. They just keep making more changes 🙈🙈
It gives me nightmares.
Hi Jeff, just to be clear, you don't need to know R to take PA, right?
You still need to be able to interpret R code, but you will not have to write code yourself. Here is the link to the syllabus where you can find out more about the exam: www.soa.org/4adf8d/globalassets/assets/files/edu/2024/spring/syllabi/2024-04-exam-pa-syllabus.pdf
Very well made and informative!
Jeff - Could you please post similar video for CAS as well?
I will keep this request in mind!
@@jxyang44 I second this!
Well done very informative 🎉🎉
Thanks!
How many exams should one take before applying to an entry level job? Or what do you think the optimal path for a senior in university? Thank you
Based on a recent poll from 100+ employers, about 40% won't consider your resume unless you have 2 exams. Another 20% prefer 3+, so I would aim for 2-3. Prior internship experience, good interview skills, location, and a number of other variables are going to factor into the hiring process well. If your university has an actuarial network, use those resources to your advantage. Hope that helps. Good luck.
How many hours f study is needed to pass exams P and FM?
Can one attempt both at the same time?
I am a retired insuer at 53 and I can give my best shot to earn Actuarial Science Qualification but I need the best and shortest route.
Sitting down at home with nothing much to do, i guess I can do it?
Please advise
It really depends on your background, but typically a few hundred hours per exam. The exams are offered every other month, so you could technically take them back-to-back if you put in the time.
@jxyang44 Conservatively I guess 1200 hours of regular study all together should be enough to get ASA credentials!
Average 150 to 200 hours of study for each subject with an average of 2 hours consistant approach ; As a retired person and with good maths as well as insurance background its doable.
What is your opinion?
@@tislaoman I like your enthusiasm! Realistically, it's quite optimistic though. The exams get harder as you progress, so it may take more time to prepare for the exams.
The fail rates on these exams is also in the double digits, so even though nobody plans to fail, it most likely will happen, resulting in +100s of more hours.
@@jxyang44 Have you considered the kind of assistance, multiple tutoring lectures, past papers their solutions and study guides available on internet?
I think 12 years ago we had dearth of knowledge and info than what we have today.
With a little aberration may i ask what is your opinion on AI replacing the role of an Actuary?
@@tislaomanYes, having access to more study materials will make the process easier.
I don't really know how, to what extent, or whether AI will replace actuaries. I think it's really difficult to make any meaningful predictions.
I've been using generative AI on a regular basis since ChatGPT first launched, and so far it's been a very helpful tool for writing, coding, problem-solving, and data analysis.
Thank you!
We at the University master, learned all this topics, why should pass again?
I don't understand the question.
I'll be appearing for SRM in sept 2024, you mentioned a free source material in your ppt, where can i access it?
www.statlearning.com/. 2nd edition with R
FYI, The Actuarial Nexus is also piloting free prep material for the sept 2024 sitting only: www.theactuarialnexus.com/course/examSRM
Is this for the UK actuarial exams? I don't think so, but I am unsure.
This is for the SOA track, which is mainly US/Canada. Information about the UK exams can be found here: actuaries.org.uk/qualify/my-exams/ifoa-exams/
I thought P is 2.5 hours too
It is currently a 3 hour exam: www.soa.org/education/exam-req/edu-exam-p-detail/study/