New Actex for EA2b

[Traci]

I've seen comments here and there about the new Actex for 2b -- but I am interested in hearing from as many people as possible who used it this past sitting. (I did not order it)

What did you think?

[Grits N Gravy]

Originally Posted by Traci

I've seen comments here and there about the new Actex for 2b -- but I am interested in hearing from as many people as possible who used it this past sitting. (I did not order it)

What did you think?

I ordered it and do not recommend it. It segmented the syllabus nicely into chapters, but beyond that there's not anything positive to report. In general the solutions are very sparse when it comes to details - Rick G.'s are immeasurably better.

When I was doing some last minute practice problems on the day of the exam, I was getting hung up on question 15 & 16 of the 2002 exam. I didn't have my Rick G solutions along, but the Actex was still hanging around in my bag. For those of you who have this manual, please check out the solutions for those two problems. Maybe I'm bitter because of the timing, but I can't believe that those two solutions made it into print.

I don't have the guide right in front of me, but for #15 he tried to take the given $195,000 final average 3 earnings and apply the old pay caps to it by assuming earnings of $195,000 in each year. He also applied the wrong age adjustment factors. Number 16 had similar problems. I don't know how many other solutions are incorrect, but he's 0 for 2 on the ones that I needed (I did end up figuring them out before the exam, but I'd usually prefer to make the most of my last minute study time).

[Emily]

The manual contained almost no content. Just an outline of things you have to learn elsewhere. The solutions were a joke. For number 14 he got the completely wrong answer and just moved on. The ratio test doesn't need to be 70%, just the midpoint of the safe and unsafe harbor. For 31 he got the wrong answer again, and just ignored it. He didn't adjust for the form of payment correctly. He ignored the annuity table given with the exam, so he couldn't do 29. When he adjusts for early retirement with no pre-retirement mortality, he just discounts with interest. FSA... hah!

[Erica]

I agree with Slacker & Emily's comments. The only purpose it had for me was breaking the material into 8(?) topics to organize my reading of the tons of regulations, reg. rulings, notices, etc. This was prior to the seminar, so I needed a starting point which it provided.

The outlines were disappointing. It was simply list of topics with none of the detail that you have to learn for the test. As mentioned above, the solutions were terrible!

I would not recommend buying it. However if there is one laying around your office from a coworker, you could use the topical breakdowns found in a box at the beginning of each chapter to help you get started through the material.

[yeppers-wsmn]

I agree too. Do not buy it.

[FoxtrotFool]

The content of the ACTEX is weak, and solutions questionable.

However, I did find it useful to the extent that it is the only source that has a reliable list of ALL the study material, and in a reasonably good reading order. I used it for the purpose of going through the textbook, and the outline was rather helpful.

It was not until the exam date that I realized that there are exam solutions in the back of the ACTEX. I already had Farber and Rick G.'s solutions, and did not even think about looking at the ACTEX after I finish reading the material...

I don't think it was acompletely worthless. I would buy it again if I don't have to pay for it myself.