2017-2018 Exam Planning Workshop - University Of Michigan

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Exam Planning Workshop2017-2018

SOA Exam Path ASAThis is what most people will be exposed to during college.But wait, there’s more.

SOA Exam Path ASA Associate of the Society of Actuaries Think of this as like the halfway point Will be completed 1-2 years after you graduateFSA Fellow of the Society of Actuaries This is the full credential, kind of like being an MD or JD for doctors andlawyers Will involve picking a specific track Life, Group and Health, Retirement, QFI, General Insurance More exams, more modules, more problems Will be completed while you are working full-time

SOA Exam Transitions Detail Exam MFE Exam IFM - First sitting July 2018 Exam C Exam STAM - First sitting October 2018 Credit for STAM given to students who pass Exam C by its final June 2018 sittingIf you are taking Math 523/524, I recommend taking this last sitting of Exam C in June 2018Exam MLC Exam LTAM - First sitting October 2018 Credit for IFM given to students who pass Exam MFE by its final March 2018 sittingCredit for LTAM given to students who pass Exam MLC by its final April 2018 sittingCoaching Actuaries has put together a very nice webpage detailing thechanges in content for the 2018 transitions, as well as givingrecommendations to students in a variety of anges/

SOA Exam Transitions SummaryTakes effectJuly 2018

VEE Transitions VEE Economics - No ChangeVEE Applied Statistics VEE Mathematical Statistics and Exam SRM Students with credit for VEE Applied Statistics (through Econ 452) by July 2018 will be givencredit for VEE Mathematical Statistics AND new Exam SRMProfessor Natarajan is working to develop a course to cover the new VEE MathematicalStatistics and Exam SRM contentVEE Corporate Finance VEE Accounting and Finance Students with credit for VEE Finance by July 2019 will be given credit for VEE Accounting andFinanceFinance 302 currently gives credit for VEE Corporate Finance, and will continue to give creditAccounting 300 or Accounting 471 will likely give credit for the accounting portion

CAS Exam Path ACAS

CAS Exam Transitions Exam C Exam MAS II - First sitting October 2018 Cre4isticsAgain, Coaching Actuaries has put together a very nice webpage detailingthe changes in content for the 2018 transitions, as well as givingrecommendations to students in a variety of anges/

Exam Differences at a GlanceACAS (CAS)7 Exams2 VEEs2 Online Courses1 Professionalism Course* With the 2018 changesASA (SOA)6 Exams3 VEEs1 Analytics Project1 Online Course1 Professionalism Course

Exam Prep - Courses90%MA 215MA 425MA 424MA 217* percentages are approximateExam P85%70%MA 423ExamFMExamIFM

SOA Exam Prep - CoursesCurrent 50%ECON452MA 523-------------STAT 426MA 524MA 520MA 521MA 425TBD100%86%ExamSRMExamSTAMExam CExamMLCTBD* percentages are approximateNewExamLTAM

CAS Exam Prep - CoursesCurrentECON452MA 425MA 523--------------STATS 426 50%ExamMAS I100%MA 524Exam CTBD* percentages are approximateNewExamMAS II

Exam Prep - Timeline Getting ready for an exam is a long process --Exams are offered a limited number of times per year, so planning is essentialGetting ready for an exam is a long processRegistrationTake the Class StudyingPick your target exam dateActuarial Math classes covertopics on the exams (seeprevious slides)Class alone is NOT enoughUse exam manuals, samplequestions, etc. (next slides)--Deadline for registration isusually one month before examdateRegister on SOA or CASwebsiteWill also pick a testing centeras part of registrationSOA -- n/edu-registration.aspxTake the Exam--Visit your testing centerBEFORE your exam dateKnow where it is, howlong it takes to getthere, etc.Bring approved calculatorsEat breakfast, drink waterIf you get pass results, bringto Natarajan forreimbursement ASAP (oremail over the summer)

How to Study Disclaimer: everyone studies differently, these are simply common techniquesIt is recommended to study 100 hours for each hour of the exam*Step 1: Learn the material (3 months before the exam if no class) Step 2: Practice Problems (6-8 weeks before the exam) Go through as many problems as possible, with your notes/formulas openStep 3: More Practice Problems This is done in class and/or in the textbookLearn a concept, do examples, move on.Start to focus on sections/concepts you are struggling withDecrease your use of your notes/formula sheetStep 4: Practice Exams (3-4 weeks before the exam) Take under exam conditions (no notes/formulas, timed)Carefully review solutions, understand the questions you got wrong

Exam Prep - Manuals Free manual rentals from SAM library (Natarajan’s office) Use your textbooks from classes Ask friends in SAM for used manuals Purchase your own: ACTEX: https://www.actexmadriver.com/ ASM: http://www.studymanuals.com/ Coaching Actuaries: https://www.coachingactuaries.com/

Exam Prep - Coaching Actuaries Adapt Adapt: Platform for practice problems Dynamic difficulty - starts by giving you easier problems to build your “Earned Level,” thengradually increases difficulty as you gain experience/confidence with the problemsHuge question banks with written and video solutions for eachTake full exams or specific section quizzes Practice problems are the best way to gain familiarity with the exam!https://www.coachingactuaries.com/ University of Michigan Discount Code for 30/20% off Adapt Products: For P, FM, IFM - UMICHPC20For C, MCL - UMICHPC30

Exam Prep - Other Materials SOA sample questions solutions for P and FM P: est.pdf FM: questions.pdf Past Exam Questions and Solutions available on SOAand CAS webpage for each exam

Exam C Exam STAM - First sitting October 2018 Credit for STAM given to students who pass Exam C by its final June 2018 sitting If you are taking Math 523/524, I recommend taking this last sitting of Exam C in June 2018 Exam MLC Exam LTAM - First sitting October 2018

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