Thread: Four year plan
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Old 07-25-2013, 12:36 AM
NonSumDignus NonSumDignus is offline
Join Date: Jul 2013
College: University of Illinois at Urbana Champaign - Sophomore
Posts: 5

I'm going to be a sophomore at UIUC but I figure I can still give you advice on getting a leg up. I passed 2 exams in my freshman year & summer, and am one of 3 freshman (to my knowledge) to do that. We all took FM before P just because it fit our schedules better.

Take Math 210 as soon as you can, the only requirement is Calc II so you might be able to take it 1st semester like I did. The class is called "Theory of Interest", and is the class for Exam FM. Take Math 408 2nd semester, provided that you have Calc III already done (thus, the optimal method is taking Math 210 and Math 241/Calc III first semester, which is a sizeable workload but I did it).

I took Math 210 in the fall, studied all winter break for FM, and then took FM in february and passed. Studying for an actuarial exam during the school year is miserable, but doable. After taking Math 408 to learn the material for exam P, I studied all this summer for exam P and passed it two weeks ago.

Math 210 teaches you most of the material for FM, but you will still need a study manual to teach yourself about 40% of the material (derivatives markets). Math 408 covers the entire exam P syllabus, so I just spent all my study time going through practice exams instead of learning stuff. These classes were a huge benefit.

As for internships, join the actuarial science club. We will most likely have events from early on in the year to meet people and network. We have companies come in and present to us about the field, and you get to learn about the professional world. Our Career Fair is in September and this is how I got my internship despite being a freshman -- I just talked to every company, told them about myself and asked good questions, and one company took me even before I passed my first exam. Start networking and studying early and you CAN get ahead of the game.

I plan to slow down on my exams and not take MFE until next year, either March or July.

If you want to get ahead of the competition, it can be done, especially at U of I with all the resources and the amazing department we have here.

VEEs: Economics Statistics Corporate Finance
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