Sage-Tips

What calculator is allowed on P exam?

TI-30XS multiview
The best calculator for Exam P is the TI-30XS multiview. The battery operated one is OK too – It will have a “B” instead of an S.

What is an actuarial calculation?

The actuarial cost method is used by actuaries to calculate the amount a company must pay periodically to cover its pension expenses. The cost approach calculates total final benefits based on several assumptions, including the rate of wage increases and when employees will retire.

What are actuarial calculations?

Actuarial computation deals with quantifying and redistributing risk in insurance and finance. Risks refer to financial losses and may relate to health, cars, life, and financial investments, etc.

Can I use a calculator for the actuary exam?

Using a calculator that is not on this list will result in the disqualification of the exam. For the Enrolled Actuaries (EA) examinations, candidates may use any model that meets the specifications of the Joint Board for the Enrollment of Actuaries.

What happens if you don’t pass the actuarial exam?

If you don’t meet the requirements and get removed from the program you’ll no longer get exam expenses and study time paid for, and on some companies you’ll lose your job. Ideally you should start writing Actuarial exams in your second year of college or university.

What happens if I use a calculator during the examination?

During the examination, the calculator must be removed from its carrying case so the supervisor can confirm it is an approved model. Candidates using a calculator other than the approved models will have their examination disqualified, which means the examination will not be graded. Candidates are responsible for providing their own calculators.

What are the different levels of Actuaries called?

Because of this it’s important that actuaries go through a rigorous examination process. There are two ‘levels’ of actuaries. The first level is called an associate and the second is called a fellow . You have to first become an associate and then you can become a fellow.