advice needed

[Anonymous]

Hi all!

I know that I failed C3 again! That was my third time and I sucked royally.

I am thinking to move on and do either C2 or C4. What do you think? Should I skip three and come back? If so - which is easier c2 or c4? I need a boost since I am in a rut.

thanks for any advice!

[LB]

Course 4 picks up in a lot of places where course 3 left off. I would go with course 2. Why did you go for course 3 instead of 2 to begin with?

[Anonymous]

I thought since I had done a lot of the stuff for C3 in school and have never taken economics, I would go to 3 while it was still fresh!

You would think after all of this time spent I could pass the thing by now but I just can't seem to get it.

So you would leave c3 for now and come back to it? Or do you think I would forget the stuff I know? I am just really frustrated with it now and I don't want to make a silly or hasty decision. Thanks!

[Anonymous]

check possible answers at rogerlee.com/answers (u can post yours if u remember them)
i'd say if u r close to 20 right then retake C3, it'll be worth it

[Anonymous]

thanks - I have checked and I did worse than I thought! I thought I was pretty good for the first 10 (i thought around 7 or 8 right!) No way - like 4 right!

Last time - I had about 20 right - got a 4 - this time, maybe 15 right if I am lucky! What is with that! I even studied like 315 hours this time.

Maybe I am just not studying effectively - I really don't understand what is going on.

[Anonymous]

don't blame yourself, it's a huge amount of material
i know that if i fail this time, i'll go for it in May again

[Anonymous]

even if this would be your 4th try? you wouldn't try another one instead?

I just hate that I spend so much time in it and it doesn't pay off. Like what a waste.

[Anonymous]

it may sound ironical but you're getting "experience" with every try.
keep in mind it's been only 4 exams since 2000 change
anyhow, it's only my opinion

[NYC Triathlete]

Take part 2. You need a lot of the interest theory stuff on there for part 3---maybe that's why you are having trouble with part 3. But wait for your grade first--if you get a 5, then sit on your butt and retake course 3. But under no circumstances you should take part 4---it builds on 3 so much that if you are not getting part 3, chances are you'll have lots of trouble with 4 too. Good luck.

[Anonymous]

thanks

I agree now - that if I switch it should be to C2. I am just scared that if I wait for my results, I won't have enough time and will probably have another fail to deal with.

I am not sure if it is because of the interest theory or not. I seem to understand like 90% of the stuff it is just I need to look at the answers - I can't seem to come up with the stuff on my own. As soon as I see it I am smacking myself for not thinking of it.

I kinda want to make up my mind so I can either move on or keep studying c3. I really don't think I can handle another fail.

[NYC Triathlete]

Sorry to be harsh but if you need to look at the answers cause you can't come up with the stuff on your own, you REALLY DON'T understand 90% of tha material. Trust me on this one. I've been there with part 3.

[Anonymous]

well I guess I say understand is different. I mean I understand what has been done - like I don't not know all together - or I can get a few steps in -

ok - any ideas on how I can get better at this area then? so I "understand"

I do appreciate it - and yes, I guess I need harsh sometimes - obviously I am doing something wrong - so I need HELP!

[Anonymous]

If I were you I will repeat Course 3. Get Mahler's materials and Batten's Life Contingency book. Continue to study like hell. Even if you feel confident, suppress it and keep grinding. In the exam do the questions you are sure of first. Jump when the going gets tough. Pray.

You will surely overcome. Repeat Course three, don't open a new kind of worms since the effort is the same.

[Anonymous]

Make sure that you know the material cold. That is for questions that you can do you use the best methods to solve them. Learn the way Batten, SOA and Mahler solve problems. Solve a lot of questions and heat up when it is getting close to the exam but rest just before the exams. Good luck and don't give up.

[Anonymous]

315 hours is not enough. I needed about 450 hours for each of Course 3 & 4. I see no way around it unless you are a genius, which many actuaries are. I pass because I study more than the average person. 315 is just not enough.

[Anonymous]

I know alone 315 isn't enough - if you read above, this was my 3rd sitting. In total, if you include school study time and previous sittings, I am sure I have more than enough hours. It is something else I am doing wrong - like not studying effectively or something but I am not sure how to improve that.

Thanks for the advice C4boy - I have HTP, Actex, and CSM manuals - you still think I should invest in these other two?

[Anonymous]

I struggled like you that is why I pray that you make it. I still think you should get Batten Life Contigencies book. If you can answers all the questions in that book with the best method you are progressing. Buy Mahler's materials for Course 3. These manuals are great. Continue to use the Actex because it also contains more questions.

I have no doubt that you will make it if you don't give up. Sometimes good manuals separate those who pass from those who don't pass.

Finally make your own notes, list all the formula's that you need for the whole course and memorise it.

Good luck.

[Bullseye]

To pass Exam 3 you have to REALLY understand the material. You cannot understand it 90% You have to understand almost all of the material 100% At least, that is what I had to do. I took Exam 150 and Course 3 many times.

[Anonymous]

Well... Realizing that I just failed Course 4 for the THIRD time, I am definitely starting to wonder if this is the right career path for me! I passed Course 3 the first time around in the new system and passed everything else with relatively little trouble. Is it time to start looking for a new career? And if so, any suggestions? If not, why not???

[Bullseye]

Pita, are you studying hard? I mean really hard. Sometimes, that is what it takes! If you put in the extra effort you will pass...especially if you passed Exam 3 which is a tough exam.

[Anonymous]

I put in 450 hours and passed course 4 on first try. Went to Mahler/Pai seminar and used their manuals. I used Actex as well. It takes lots of study time to pass.

[Anonymous]

where can I order Mahlers stuff from? I think I have found Battens stuff - that is just a manual too right?

Thanks

[Anonymous]

me123, yes the Batten stuff is just a manual.
The Mahler materials can be bought from the NEAS program. http://www.neas-seminars.com. Just buy the course 3 material or get them from another student.

[Anonymous]

thanks!!!

one more thing - does Mahlers material cover everything?

I know, I know, I am a pain!

[Macroman]

no, Mahler's work covers about half of the course very well, from what I am told.

<font size=-1>[ This Message was edited by: Macroman on 2001-11-08 08:16 ]</font>

[Anonymous]

Mahler's material covers the non life contigency part of the syllabuse. It has many examples and it is a great manual.

[AOnly]

Maybe in theory 3 picks up where 4 leaves off, but you have enough knowledge to pass 4 if you have taken 3 several times.

Let's look at the material:

Regression and Time Series: Does not depend on 3.
Credibility: Does not depend on 3
Frequency Distributions: Depends on 3
Severity Distributions: Depends on 3.
Fitting Data: Does not depend on 3.
Survival Models: Depends only on Chapter 3 of Bowers. I'm sure you know that by now. Helps to be comfortable with censorship and truncation as well.


So brush up on your continuous loss distributions, particularly your gamma distribution, poission, and negative binominal, and you'll be fine.

I learned all the Loss Models material from Mahler's notes, and only looked at LM for reference.