Study Policy for Exams

[Toronto2]

I am doing some research for the Actuarial Program at my company. We are trying to find out the most common policy for study time for Actuarial Exams. Including the amounts given for first,second and third attempts.

[The Drunken Actuary]

Don't know how other companies do it, but for me, its 13 days first attempt, 6.5 days second attempt, nothing third attempt +. That;s for 1-4. I think it's a little more for higher exams.

[glenn]

toronto2, you have a private message :smile:.

[Daisy]

I have 15 days (8 hour days) for each sitting - no reduction for subsequent attempts. However, if you fail more than twice - you probably will not be approved for any more study time until you pass one on your own. This is the same for all exams.

<font size=-1>[ This Message was edited by: Daisy on 2002-01-07 14:09 ]</font>

[Ammie]

Toronto2, if you don't work for a consulting form, then drop me an e-mail at ammie_home@yahoo.ca. I think I'm allowed to share :smile:, but not with competitors :sad:

[Toronto2]

I didn't realize this type of information was confidential at some companies. We are currently trying to revise/update our study program (which is extremely small involving only a few students). At the present time we feel our program provides much less than other companies. It seems that most companies give full study time for the first two sittings and we were asked to get some samples of what other actuarial programs are doing. We do not want to know the company name so I don't see why the information would be confidential. Glenn - please let me know if this is still considered a private question.

<font size=-1>[ This Message was edited by: Toronto2 on 2002-01-08 08:24 ]</font>

[josie]

We base our study time on how long the exam is and how many times the student took the exam previously as follows:

1st attempt --> 3 days per hour of exam
2nd attempt --> 2 days per hour of exam
3rd attempt --> 1 day per hour of exam
4th attempt or higher --> no study time

[glenn]

It's not a private question - please feel welcome to contact the name I gave you. I just didn't want to post his name on the board. You can discuss with him whether the info is confidendtial or not.

[Toronto2]

Glenn, I apologize - this is the first time I have posted to this forum. I thought your comment about me having a private message meant that my question was private! Just realized that meant I should click on private messages (Sorry!)

[The Drunken Actuary]

Glad you cleared that up for me.... I thought, based on your response and since Glenn is the web master, that his private message to you was telling you not to ask this type of question or something.

[glenn]

On 2002-01-08 10:19, TDA wrote:
Glad you cleared that up for me.... I thought, based on your response and since Glenn is the web master, that his private message to you was telling you not to ask this type of question or something.

Nope :smile:. I provide no input into what people can or can't say on this forum, or what is acceptable. That is handled exclusively by T and her moderators (I don't know who her moderators are, and I don't know anything more about T than her email address), and T doesn't answer to me. I don't think T would have moved the board here if it was any other way, and I wouldn't be doing the hosting if I had any of those responsibilities. Keeps the board open to honest discussion and criticism.

Bit of a tangent - but I think the differentiation is important.

[M.]

Wow, I didn't realize how generous my company is!

First attempt:
Courses 1&2: 100 hours
Courses 3-6: 150 hours

Second attempt
Courses 1-4:
If score was 4 or 5, then 70% of original hours.
If score was 2 or 3, then 55% of original hours.

Third attempt:
Similar to second attempt, but 15% less each.

[Me]

Course - Study Time
1 - 75 hours
2 - 90 hours
3,4 - 120 hours
5,6,7 - 135 hours
8,PD - 150 hours

No reduction in time for multiple attempts as long as you remain in the student program (passing 1 exam per year).

No joke.
[Edited to fix lack of alignment]

<font size=-1>[ This Message was edited by: Me on 2002-01-09 12:26 ]</font>

[Botsy]

135 hours for course 7!? That would be nice.

[Me]

On 2002-01-09 12:24, Botsy wrote:
135 hours for course 7!? That would be nice.


Yeah it is nice, but you use study hours for the time you're actually at the seminar to avoid taking it as vacation time.

Oh, I forgot to mention that we get the day before and the day of the exam off as well (not for 7).

[Exam Slave]

Here, you get three sessions to pass some exam.
You get full privileges -- study time, books, supplemental materials, exam fees, one SEMINAR (per exam) -- through the 18- (or if past first 4 exams, 30-) month period.
You get no extension for not taking an exam.
You get study time removed from next sitting if you used study time but either received a 0 or didn't take the exam.
Get booted from the program, and your continued employment will be reviewed. Decide not to join program (it's somewhat new) and you're put into a track of lesser-valued analysts who will be first on the RIFfing machine.

[MNBridge]

Study Time

Officially - none

You get time for seminars.
You can use FREE time at work to study. This turns out to be quite minimal, but I try to get in 2 - 10 hours a week the 4 weeks before an exam.

[MountainHawk]

120 hours first two sittings, 60 hours third, 0 after that.

Time at seminars count, and seminars are fully paid for only once per exam (NOT per sitting).

Up to two days out of the office (counts as 7.5 hours) to studay, within 30 days of the exam.

[Anonymous]

I know of a company that gives 180 hrs per sitting for exams 3-8. They have extremely good pass rates, so its worth it

[The Drunken Actuary]

Maybe they're just smarter than the rest of us.

[haywood22]

C1,C2: 90 Hours
C3-C9: 125 Hours

Also get day before and day of the exam off.

The amount of hours are more than fair but you have to take your study time in the office and never more than 2 hours a day...so it's VERY rare to actually use all of your allowed time.