Hi I just started my soa journey last year and I just passed exam FM and P. Your video helps a lot in clearing some of the complicated concepts. Thanks!
You are very cool teacher. things you say is exactly right of my mind. It come from experience, nature and useful. It very hard to find a very smart person like you. wow.. anyway congrats for Exam P and keep going, i'm about to follow you.
Wow pretty cool man! I'm also interning at a mutual this summer (its actually somewhat near san diego) and looking forward to it. good luck on FM. i took it a month ago and boy was it fun... to finish the test.
liverpooler1997 haha yea I'm looking forward to getting it over with... material is all foreign to me but I only need a 6 right? Hope I can pull it off! Have fun in San Diego, I lived in pacific beach for 5 years, it's awesome! Only one problem... maintaining focus on getting work done haha
Emma Wu yes I will. I actually want to make period videos during the internship to explain the project I'm working on, as well as the overall experience.
I am a math teacher. No experience with Actuary or high level math. I taught high school math for 17 years and teach part time for a university. I just decided to order the FM ASM manual. I’m going in blind. Hope to do this well but nervous to find 2 hours of studying time per day over next 3 months. Any tips?
@Thoughts on Buddhism same boat as you both, but I decided to get out of ed after my first year. Currently 24 and going to see if I can pick this information up
Don't know if you've learned this by now, but there are some versions of the exam where getting a 10 is impossible (you need to get 140% of a passing score to get a 10) so you shouldn't be upset about getting a 9 at all (even if it were possible it's not remotely worth getting upset about to begin with).
Congratulations on the Exam P success and on landing the internship! Good luck with the Exam FM and the internship! BTW: I cam across some pdf on the SOA site that explained (with an example) that sometimes it is not possible to get a grade of 10 due to the way they assign the grades. Unable to find the reference link again. Will post it here if/when I find it.
Found the reference: www.soa.org/Library/Newsletters/The-Future-Actuary/2007/Fall/pas2007fall.aspx See under "A Word About the 0-10 Grades" Quote --> ... Consequently, on rare occasions there have been exams on which achieving a grade of 10 was not possible-even for a perfect paper. For example, let's say the pass mark was 22 for a 30-question exam. One would have to achieve a score of 30.8 (140 percent of 22) to score a 10. Therefore, a grade of 9 would be the highest possible score by candidates on this exam. ...
Sandeep Jagnade link wasn't opening for me. Maybe this is the same thing. It's discussed here www.casact.org/admissions/studytools/exam1/exam_1pass.pdf
Pass at least one exam and start applying everywhere. Work on technical skills, such as familiarity with at least MS Excel also. If you don’t get a job, keep taking and passing exams until you do.
Hi, can you PLEASE make a video on "force of interest". Stuffs to include may be: 1. When do you use delta=a'(t)/a(t) 2. Integral from 0 to t, delta r dr 3. Delta=ln(1+i)^t Im really struggling with understanding these concepts and you're my only hope, since pretty much noone else make videos on topics for the actuarial exams. Thank you so much in advance!!!
Thank you! I am a college student right now and I've been reading FM materials by myself. Some of the concepts are hard. Tricky is a better word for it. There are a lot of formulas. I don't know when I will take FM. Best guess is October. If everything goes pretty well, I may take the August one.
Xiangyi Xu I agree 100%. Very tricky! It's a ton of unfamiliar terminology.. I'm not where I want to be honestly considering my test is in less than a month.. I'm studying 6 hours per day though so I hope I can pull it together by April 14th..
Good luck! It's good that you have a lot of time for studying. I mean, under the pressure of homework and exams from college, I barely get any time to study FM. But do not overwhelm yourself. Do something else to relax every day. You can make it. Even if you don't, you can still take the June one. Good luck!
Xiangyi Xu you're right, it would be basically impossible if I also had classes to take. I definitely getting a bit obsessed with mastering material, I keep trying to tell myself I only need a 6 to pass. If I have to take it in June I will... we will see!
I saw that TIA offers the Technical Skills Course and the R Course. Would you recommend the R course because of the push of predictive analytics, the lifetime access, and the SOA Predictive Analytics exam coming in December? Or do you think you got a good overview of R with the Technical Skills course in the 6 months you had it? Thank you!
0:27 You have already given people plenty of info in other videos if they were wanting to creep on you :p I won't refer to the specific information so I don't make creeper's lives easier, but I was able to find your linkedin and facebook based on information you have said in your videos :p I swear I didn't do it because I was a creeper myself, I was just curious if it was possible.
I'm pretty much in the same place you were in. I'm a grad student and teaching, but I've decided to change things up. I'm sitting for Exam P tomorrow, and I think I should be good. Do you have any tips on applying to places? Right now my plan is just to apply everywhere.
Bryant Wilson that's pretty much my advice, haha. Apply to anything you even slightly fit the criteria for, I didn't think I would get an offer until I had at least two exams but then I did. Bottom line is it only takes one yes, just don't let rejection discourage you. Good luck tomorrow!!
Some people say it's best to wait till you have a few exams (2-3) and then apply for jobs because if you have already applied for a job and got rejected, then later once you have more exams you may have to wait a certain amount of time (1 and a half year) before you can apply for the same position again to get reconsidered. But people say a lot of things and I'd love to hear your opinions on this too!!
They won't expect you to know much. They just want to see how you think by asking you some tough questions. Try to take an Excel class, or some technical skills class. That will help your chances tremendously. Once you pass an exam, apply for summer internships. If you can land one, it well help you greatly for your future job prospects. Also, one of the requirements is usually a strong GPA so make sure you get good grades.
Exam P covers up to Calculus 3 (Multivariable Calculus) as well as calculus based probability. It would be possible but quite difficult, in my opinion.
so basically, sounds like i should finish all 4 quarters of calculus (quarter system) before studying for exam p to have the best chance of success. I am aiming to take exam p spring 2018, and apply for internships for summer 2018.
holy moly I think that is a good plan. You're still young and it's good you're ambitious! I recommend taking an intro to probability course too, it will help you a lot and cut down on your study time. Most people get internships the summer before senior year of college (at the earliest) you're in great shape! Stick with your plan and master your calculus skills! Hope to hear from you how it all works out!
hi, im sitting for P in this May, and ive came across your channel as I was lookig up how to solve some questions. could you give out advice/tips on landing the first internship? i have relavent work experience (only retail work experiences) nor extracurricular activities
omgLEWISnKreh it will be impossible to find an internship without at least one exam. Focus on passing an exam and learning technical skills (excel, sql, access etc.). Once you pass an exam, apply to everything under the sun. Expect a ton of rejection but keep pushing and continue to study for the next exam. It's not easy but it's do able
Mancinelli's Math Lab that was such a quick reply haha. Ive heard that in the states, one exam suffices, but in Canada two exams still might be enough :( will you post a video on interview tips as well?
Hi! How long was the time frame between the phone interview and the 2nd round interview? I'm currently waiting to see if I get a second round interview from Mercer :/
Lindsey Speaks they told me they would let me know if I had the 2nd round interview within 3 weeks but they contacted me the following week. They then scheduled my flight that Friday. I was shocked at fast it all happened. I didn't hear back from travelers for weeks though. I think the sooner the better but even if it's later you could still get it. How long have you waited?
Mancinelli's Math Lab I did the first interview last Friday. I think I'm just a little anxious since I know summer is near and I want all of this to be over before final exams arise lol.
I see. Yes, I know how that is! It is a very agonizing process waiting to hear back. It might be too late but its never a bad idea to send out thank you emails to whomever interviewed you. Also, it ensures your interest in the company. If you felt good about the phone interview, I would expect to hear back. It's still early, I would focus on your classes since your grades are quite important for this career, there isn't much else you can do. Best of luck to you!
Oh I did immediately afterwards, even though what I got back was an automated email (because the person was out of the office on Friday) nonetheless. Thanks! I wish you the best on FM. P.S. Although the fin. derivatives material isn't hard (for me), be sure to study the heck out of them because there were more than I expected there to be. Good luck!
Wow, that is annoying!... Thank you! That Is what I'm having the most trouble with! Butterfly spread, collars, bulls,... its hard to keep all this financial economics stuff straight! I'll be sure to study it until I figure it out!
Hey! First of all, thx for the video. I passed p exam last monthafter failing two times and your video helped me understand many concepts a lot. I was curious about how competitive it is to get into the entryl lvl jobs. As you mentioned, it seems competitive and I was wondering whether entry level jobs at your company open or offered often or not.
Eunsung Jang it’s very competitive for entry level jobs right now. Just apply everywhere that has an opening and don’t let rejection get you down. Work on your technical skills in the meantime. Learn Excel VBA, SAS, SQL, etc. Also knowing how to code in R or Python will put you ahead of the competition
Mancinelli's Math Lab Alright! Thanks for your advice, just one more curiosity on how I should indicate the level of computer skills on resume. On the resume, should I indicate the level of proficiency of each computer skills or just list the computer programs I am comfortable with? Thanks Best, Eunsung
I have failed two times on p exams. After failing two times, I decided to signed up adopt test, but I still pass the past which I just took the test last week. Do you have any advice for passing exam p?
Don't forget there is always somebody older. I am 39 and work in liability commercial claims. I have a Business Administration degree with no formal math background besides going back to cc and taking Calc 1/2/and 3. I have a full time job, a wife, and 2 children under 2 yrs old. I failed P in March but am retaking in May. I got to earned level 5 on Adapt but after watching some of your videos, realize I need more practice. Thanks a lot for your knowledge and telling your story. You inspire me to work even harder and never quit!! Thank you
Jack J haha I know, I've read of others making the career change to actuarial science in their 40s. Good for you! It's scary taking the risk to change careers but we both know it will be worth it! (Obviously, since we made the choice) I respect you tremendously for doing it with a family and newborns! I can't imagine! I assume you never sleep! Sorry to hear about your first exam p sitting but don't get down plenty of people fail 1, 2 or 3 times before passing but continue on all the way! It's easy to get disappointed and discouraged taking the route but you just can't give up! I ask myself, what's the alternative?? Go back to teaching?? HELL NO! I'm Gona make this happen dammit! Anyways, I'm glad you think the channel is helpful and I appreciate the support! Best of luck on your next exam!
For the record, according to actuarial lookup, the pass score for your exam P sitting was 71%, which means you would have had to get over 99.4% on the exam to get a 10
Hah! I knew that test was too easy, I was honestly disappointed ( to a point) That's really high, though! I thought only around 41% usually pass these exams?
Pass score = grade that you need in order to pass the exam (the lowest score that will give you a 6) In the January 2017 P sitting, 42.5% of people passed, which is higher than the average for exam P = 41.2% Feel free to confirm yourself on actuarial-lookup
Hi I just started my soa journey last year and I just passed exam FM and P. Your video helps a lot in clearing some of the complicated concepts. Thanks!
Chan Ryan glad you’ve found the content helpful!
You are very cool teacher. things you say is exactly right of my mind. It come from experience, nature and useful. It very hard to find a very smart person like you. wow..
anyway congrats for Exam P and keep going, i'm about to follow you.
Thank you! I'm glad you find my channel helpful!
Wow pretty cool man! I'm also interning at a mutual this summer (its actually somewhat near san diego) and looking forward to it. good luck on FM. i took it a month ago and boy was it fun... to finish the test.
liverpooler1997 haha yea I'm looking forward to getting it over with... material is all foreign to me but I only need a 6 right? Hope I can pull it off!
Have fun in San Diego, I lived in pacific beach for 5 years, it's awesome! Only one problem... maintaining focus on getting work done haha
yup... at some point everyone will stop caring about their grade and just wanna pass haha. I stopped caring before exam P!
I completely understand! It's an internal battle since I also really don't want to take it again!
Congratulations on your success!!! Keep up your good work :)
Trí Phạm Minh thank you!
Congratulation on the internship! Will u be able to make a future video where u talk about ur internship experiences after your internship?
Emma Wu yes I will. I actually want to make period videos during the internship to explain the project I'm working on, as well as the overall experience.
Thanks for sharing your experience! I appreciate it
I am a math teacher. No experience with Actuary or high level math. I taught high school math for 17 years and teach part time for a university. I just decided to order the FM ASM manual. I’m going in blind. Hope to do this well but nervous to find 2 hours of studying time per day over next 3 months. Any tips?
@Mr Poopie Butthole I tried studying but simply the concepts were too challenging and I LOVE math!
@Thoughts on Buddhism same boat as you both, but I decided to get out of ed after my first year. Currently 24 and going to see if I can pick this information up
Don't know if you've learned this by now, but there are some versions of the exam where getting a 10 is impossible (you need to get 140% of a passing score to get a 10) so you shouldn't be upset about getting a 9 at all (even if it were possible it's not remotely worth getting upset about to begin with).
well I have to agree with you, of course. The more exams you take, the more you realize that passing is what matters, not by how much.
You are gonna pass I just know it! Good luck!
Just wanted to say thank you for ur helpful videos for exam p. Just passed it a couple days ago. I just finished my freshman year in university
Congrats on getting through P!
@@mancinellismathlab7451 Thanks! Soon will be time to look for an internship next summer and start looking at fm!
Thanks for this video. I am going to apply to as many places as possible as I write my second exam.
That's the way to do it, just keep applying and don't get discouraged. Best of luck!
Congratulations on the Exam P success and on landing the internship! Good luck with the Exam FM and the internship! BTW: I cam across some pdf on the SOA site that explained (with an example) that sometimes it is not possible to get a grade of 10 due to the way they assign the grades. Unable to find the reference link again. Will post it here if/when I find it.
Sandeep Jagnade I'll just tell myself I got a 10 lol!
Found the reference: www.soa.org/Library/Newsletters/The-Future-Actuary/2007/Fall/pas2007fall.aspx See under "A Word About the 0-10 Grades" Quote --> ... Consequently, on rare occasions there have been exams on which achieving a grade of 10 was not possible-even for a perfect paper. For example, let's say the pass mark was 22 for a 30-question exam. One would have to achieve a score of 30.8 (140 percent of 22) to score a 10. Therefore, a grade of 9 would be the highest possible score by candidates on this exam. ...
Sandeep Jagnade link wasn't opening for me. Maybe this is the same thing. It's discussed here
www.casact.org/admissions/studytools/exam1/exam_1pass.pdf
Yes, it's the same content. I noticed the SOA website is a little slow today.
Ok cool, thanks!
Congrats!!!!! How old are you Alex?
I thought Internships were for students. How did you land it?
Thanks for this video. I am a career switch in this year…. Very nervous on getting internship…. Any advice on applying internship?
Pass at least one exam and start applying everywhere. Work on technical skills, such as familiarity with at least MS Excel also. If you don’t get a job, keep taking and passing exams until you do.
Hi, can you PLEASE make a video on "force of interest". Stuffs to include may be:
1. When do you use delta=a'(t)/a(t)
2. Integral from 0 to t, delta r dr
3. Delta=ln(1+i)^t
Im really struggling with understanding these concepts and you're my only hope, since pretty much noone else make videos on topics for the actuarial exams. Thank you so much in advance!!!
Congratulations! I passed Exam P Jan 2017 as well! And I'm trying to learn the materials for Exam FM. Good luck to your internship and exam!
Thank you, congratulations to you too! How are you feeling about the FM material? When are you planning to take Exam FM?
Thank you! I am a college student right now and I've been reading FM materials by myself. Some of the concepts are hard. Tricky is a better word for it. There are a lot of formulas. I don't know when I will take FM. Best guess is October. If everything goes pretty well, I may take the August one.
Xiangyi Xu I agree 100%. Very tricky! It's a ton of unfamiliar terminology.. I'm not where I want to be honestly considering my test is in less than a month.. I'm studying 6 hours per day though so I hope I can pull it together by April 14th..
Good luck! It's good that you have a lot of time for studying. I mean, under the pressure of homework and exams from college, I barely get any time to study FM. But do not overwhelm yourself. Do something else to relax every day. You can make it. Even if you don't, you can still take the June one. Good luck!
Xiangyi Xu you're right, it would be basically impossible if I also had classes to take. I definitely getting a bit obsessed with mastering material, I keep trying to tell myself I only need a 6 to pass.
If I have to take it in June I will... we will see!
I saw that TIA offers the Technical Skills Course and the R Course. Would you recommend the R course because of the push of predictive analytics, the lifetime access, and the SOA Predictive Analytics exam coming in December? Or do you think you got a good overview of R with the Technical Skills course in the 6 months you had it? Thank you!
Carisa Burgos I think it would be helpful to try the R course offered by TIA, I didn’t get much experience with R because it was only added recently
How old were you when you did exam p
0:27 You have already given people plenty of info in other videos if they were wanting to creep on you :p
I won't refer to the specific information so I don't make creeper's lives easier, but I was able to find your linkedin and facebook based on information you have said in your videos :p
I swear I didn't do it because I was a creeper myself, I was just curious if it was possible.
NecroLord haha well I appreciate your honesty... damn Internet you can find anything on it
I'm pretty much in the same place you were in. I'm a grad student and teaching, but I've decided to change things up. I'm sitting for Exam P tomorrow, and I think I should be good. Do you have any tips on applying to places? Right now my plan is just to apply everywhere.
Bryant Wilson that's pretty much my advice, haha. Apply to anything you even slightly fit the criteria for, I didn't think I would get an offer until I had at least two exams but then I did. Bottom line is it only takes one yes, just don't let rejection discourage you. Good luck tomorrow!!
Thanks for the advice and the videos. Unfortunately, I didn't pass Exam P. But I passed FM!!
You will get P don't Give up! I passed Fm yesterday!
Some people say it's best to wait till you have a few exams (2-3) and then apply for jobs because if you have already applied for a job and got rejected, then later once you have more exams you may have to wait a certain amount of time (1 and a half year) before you can apply for the same position again to get reconsidered. But people say a lot of things and I'd love to hear your opinions on this too!!
when is it time to look for an internship? I am currently in college half way through calculus. what would the company expect you to know?
They won't expect you to know much. They just want to see how you think by asking you some tough questions. Try to take an Excel class, or some technical skills class. That will help your chances tremendously.
Once you pass an exam, apply for summer internships. If you can land one, it well help you greatly for your future job prospects. Also, one of the requirements is usually a strong GPA so make sure you get good grades.
is calculus a prerequisite for exam p? or can i just buy exam p study materials now and start studying?
Exam P covers up to Calculus 3 (Multivariable Calculus) as well as calculus based probability. It would be possible but quite difficult, in my opinion.
so basically, sounds like i should finish all 4 quarters of calculus (quarter system) before studying for exam p to have the best chance of success. I am aiming to take exam p spring 2018, and apply for internships for summer 2018.
holy moly I think that is a good plan. You're still young and it's good you're ambitious! I recommend taking an intro to probability course too, it will help you a lot and cut down on your study time. Most people get internships the summer before senior year of college (at the earliest) you're in great shape! Stick with your plan and master your calculus skills! Hope to hear from you how it all works out!
You said that you took two practice tests a day before taking exam p ..... where did you get the model questions set from
Utkarsh Uprety I purchased 7 days of Adapt
Thanks for the reply... What are the other sources for questions you recommend..
hi, im sitting for P in this May, and ive came across your channel as I was lookig up how to solve some questions. could you give out advice/tips on landing the first internship? i have relavent work experience (only retail work experiences) nor extracurricular activities
omgLEWISnKreh it will be impossible to find an internship without at least one exam. Focus on passing an exam and learning technical skills (excel, sql, access etc.). Once you pass an exam, apply to everything under the sun. Expect a ton of rejection but keep pushing and continue to study for the next exam. It's not easy but it's do able
Mancinelli's Math Lab
that was such a quick reply haha. Ive heard that in the states, one exam suffices, but in Canada two exams still might be enough :( will you post a video on interview tips as well?
omgLEWISnKreh you asked at a good time haha. yea I can do that!
Hi! How long was the time frame between the phone interview and the 2nd round interview? I'm currently waiting to see if I get a second round interview from Mercer :/
Lindsey Speaks they told me they would let me know if I had the 2nd round interview within 3 weeks but they contacted me the following week. They then scheduled my flight that Friday. I was shocked at fast it all happened. I didn't hear back from travelers for weeks though. I think the sooner the better but even if it's later you could still get it. How long have you waited?
Mancinelli's Math Lab I did the first interview last Friday. I think I'm just a little anxious since I know summer is near and I want all of this to be over before final exams arise lol.
I see. Yes, I know how that is! It is a very agonizing process waiting to hear back. It might be too late but its never a bad idea to send out thank you emails to whomever interviewed you. Also, it ensures your interest in the company. If you felt good about the phone interview, I would expect to hear back. It's still early, I would focus on your classes since your grades are quite important for this career, there isn't much else you can do. Best of luck to you!
Oh I did immediately afterwards, even though what I got back was an automated email (because the person was out of the office on Friday) nonetheless. Thanks! I wish you the best on FM. P.S. Although the fin. derivatives material isn't hard (for me), be sure to study the heck out of them because there were more than I expected there to be. Good luck!
Wow, that is annoying!...
Thank you! That Is what I'm having the most trouble with! Butterfly spread, collars, bulls,... its hard to keep all this financial economics stuff straight! I'll be sure to study it until I figure it out!
is it easier when you have passed an exam or two?
britts mann yes... it is necessary to pass at least one.
did you pass fm
I thought they weren't graded
They are. You don't receive your score for 8 weeks. 6-10 is a pass, 0-5 is a fail
Hey! First of all, thx for the video. I passed p exam last monthafter failing two times and your video helped me understand many concepts a lot.
I was curious about how competitive it is to get into the entryl lvl jobs. As you mentioned, it seems competitive and I was wondering whether entry level jobs at your company open or offered often or not.
Eunsung Jang it’s very competitive for entry level jobs right now. Just apply everywhere that has an opening and don’t let rejection get you down. Work on your technical skills in the meantime. Learn Excel VBA, SAS, SQL, etc. Also knowing how to code in R or Python will put you ahead of the competition
Mancinelli's Math Lab Alright! Thanks for your advice, just one more curiosity on how I should indicate the level of computer skills on resume. On the resume, should I indicate the level of proficiency of each computer skills or just list the computer programs I am comfortable with?
Thanks
Best, Eunsung
Eunsung Jang just a list should be adequate. During an interview you can explain your level of understanding, if it’s brought up. Good luck!
I have failed two times on p exams. After failing two times, I decided to signed up adopt test, but I still pass the past which I just took the test last week. Do you have any advice for passing exam p?
fail not pass.
Are you in school? How old are you?
Southpawpitcher3 not In school, I'm an old man at 31
My bad, wrote this before watching the video. Nice work on P!
Southpawpitcher3 no worries! Thank you, when are you taking it??
Don't forget there is always somebody older. I am 39 and work in liability commercial claims. I have a Business Administration degree with no formal math background besides going back to cc and taking Calc 1/2/and 3. I have a full time job, a wife, and 2 children under 2 yrs old. I failed P in March but am retaking in May. I got to earned level 5 on Adapt but after watching some of your videos, realize I need more practice. Thanks a lot for your knowledge and telling your story. You inspire me to work even harder and never quit!! Thank you
Jack J haha I know, I've read of others making the career change to actuarial science in their 40s. Good for you! It's scary taking the risk to change careers but we both know it will be worth it! (Obviously, since we made the choice)
I respect you tremendously for doing it with a family and newborns! I can't imagine! I assume you never sleep! Sorry to hear about your first exam p sitting but don't get down plenty of people fail 1, 2 or 3 times before passing but continue on all the way! It's easy to get disappointed and discouraged taking the route but you just can't give up! I ask myself, what's the alternative?? Go back to teaching?? HELL NO! I'm Gona make this happen dammit!
Anyways, I'm glad you think the channel is helpful and I appreciate the support! Best of luck on your next exam!
I opened my own insurance business and after few years I started hiring actuaries and I studied 0 hours :p
I don't even remember what I got on exam P. No need to worry about the grades. Passing is passing :)
You're absolutely right lol! ... Someone told me "At some point, everyone stops caring about their score" .. I'm definitely at that point now.
For the record, according to actuarial lookup, the pass score for your exam P sitting was 71%, which means you would have had to get over 99.4% on the exam to get a 10
Hah! I knew that test was too easy, I was honestly disappointed ( to a point)
That's really high, though! I thought only around 41% usually pass these exams?
Pass score = grade that you need in order to pass the exam (the lowest score that will give you a 6)
In the January 2017 P sitting, 42.5% of people passed, which is higher than the average for exam P = 41.2%
Feel free to confirm yourself on actuarial-lookup