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Course 5 Zoombie
11-06-2001, 06:42 AM
actually i don't know why originaly i involving in actuarial field. before i joined in actuarial field, many people advice me to have a real think about it because it is not easy to reach FSA. finally i had dicided to come in. after nearly 3 years of trial, i only successful passing course 1 and 2. just taking course 3 and 4 this november 2001 exams. i think i will not make it this time. sometimes really think like giving up. so much time putting in and as a return i failed.
may i know that anyone out there facing this problem too? how to you all over come these difficulties? how long or at what age will a normal person reached FSA?
can someone who have reached quite a high achievement in actuarial field sharing your precious experience?
your words will be important to me and in great appreciation.
11-06-2001, 11:19 AM
On 2001-11-06 06:42, david wrote in part:
... how long or at what age will a normal person reached FSA?
No normal person ever reached FSA.:wink:
11-06-2001, 11:26 AM
11-06-2001, 11:53 AM
Its a long and difficult process. Personally, I think its been worth it, but it does require a lot of sacrifice.
My FSA took 11 years, which was a little longer than normal, but I got it under the prior system which was abandoned due to the lengthening of "travel time". 7 - 9 years seems to be the current norm, but I've known sucessful actuaries with longer and shorter times. It depends a lot on your personal circumstances.
While most exams can be passed in two sittings, many, many students have a particular exam or two that are especially difficult for them and bog down the process. My worst one took four attempts.
Whether it is worth it or not probably depends on how you feel about the work itself. It may be difficult in Malaysia, but the best thing to do would be to try to get a student actuarial position to see if the job itself and the insurance industry is interesting or boring to you. If you like the work, the exams are worth the incredible grind. If you find it boring, there are many other paths for those with analytic skills, and there is no point spending your life in a boring job.
<font size=-1>[ This Message was edited by: Maine-iac on 2001-11-06 11:55 ]</font>
11-06-2001, 01:12 PM
One thing you can do to make yourself more effective and happier is to take one exam at a time. Trying to take Course 3 AND Course 4 this November is too much for 98.6% of the associates and fellows, who are extremely able compared to the general population.
You will be more successful if you take one exam at a time because your probability of passing two exams at the same time is less than half your probability of passing one.
(OK, that rate is plucked out of the air, but I think it's pretty close.)
Course 5 Zoombie
11-06-2001, 08:01 PM
thanks for the reply.
i have one more question to ask:
i have a keen interest in financial field especially in investment. may i know which person, the one with FSA or CFA will do a better job in investment. in general, who is more capable in handling good investment?
11-07-2001, 09:50 AM
The FSA is relatively more trained at assessing liabilities. The CFA is relatively more trained at assessing asset opportunities. Both skills are required for sound investment decisions.
11-07-2001, 12:34 PM
may i know which person, the one with FSA or CFA will do a better job in investment. in general, who is more capable in handling good investment?
I am thinking that you really want to know: If one wanted to get into an investment job, which is more valuable CFA or FSA?
From my experience, which includes work in an ALM department alongside CFAs, the CFA is more highly valued and respected among investment professionals, even within an insurance company. Plus, it's about 10 times easier to get!
Looking back, I would've made a different choice and gone with the CFA, instead of FSA for these reasons (especially the fact that CFA is only 3 exams)
11-07-2001, 02:15 PM
The Society of Actuaries published an article on failing exams just a year ago in The Future Actuary:
Dr T Non-Fan
11-07-2001, 03:04 PM
I don't know: all this advice is going to lengthen travel time. And we wouldn't want that.
Geniuses only, who can't get a job anywhere else, please.
Course 5 Zoombie
11-08-2001, 03:15 AM
11-08-2001, 12:05 PM
If you only want geniuses that can pass exams in the field, are you advocating 60%+ (to pluck something out of the air) pass ratios or leaving the current 30-40% status quo?
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