Table of Contents
How do I pass the first actuarial exam?
Taking advantage of available study materials like study manuals and practice exams is key to passing your exams.
- Don’t Underestimate the Necessary Amount of Time and Study Preparation.
- Start Prepping Early.
- Take One Exam at a Time.
- Take Advantage of Available Resources.
- Obtain the right study materials.
Which actuarial exam should you take first?
Probability Exam
The Actuarial Exams While still an undergraduate, one should pass at least the first exam, also called the Probability Exam. This is a three-hour multiple-choice examination. It is called Exam P by the Society of Actuaries and Exam 1 by the Casualty Actuarial Society.
Should you take exam P or FM first?
In summary, if you’ve taken calculus courses that taught double integration then take Exam P first. If you’ve learned about the time value of money, take Exam FM first. If you’ve learned both or neither, start with FM because it’s probably going to be easier of the two.
What should I do the night before my actuarial exam?
Make sure you sleep well, especially the night before. If the exam is early, try to condition your body to sleeping early every day so you’ll be able to sleep better the night before your actuarial exam. Generally aim to arrive at least 30 minutes before the exam for the computer-based testing (CBT)exams.
What qualifications do you need to become an actuary?
The actuarial exams. Let’s have a look at the steps you’ll need on your way up to actuary status – and more cash in your account. A degree isn’t that necessary for an actuary. But you may want to get it just to stay on the safe side as far as qualifications go – some employers may include it as part of their recruitment criteria.
What is the pass rate for the actuarial exam?
The pass rates vary from 50\% on the preliminary/lower level actuarial exams, to 30\% on the higher level CAS exams.
Should I take Calculus P or FM first?
That’s the big question. In summary, if you’ve taken calculus courses that taught double integration then take Exam P first. If you’ve learned about the time value of money, take Exam FM first. If you’ve learned both or neither, start with FM because it’s probably going to be easier of the two.