Actuarial Outpost Started studying for FM/2. Tips you wish you knew?
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#1
03-03-2012, 12:41 AM
 Sauter Member Join Date: Jun 2011 Posts: 44
Started studying for FM/2. Tips you wish you knew?

Hey guys!
I know I've seen some of you on the P/1 forums, but I'm relatively new to FM/2. I decided to dedicate a little time to FM/2 over my break and was wondering what tips/ strategies you wish you knew about FM/2 when you started studying. I'm using ASM 9th edition (2008?). Is this close enough to the current syllabus? Thanks in advance to any tips!
#2
03-03-2012, 02:02 AM
 tomhawk24 Member SOA Join Date: Dec 2011 Favorite beer: Blue Moon Posts: 263

http://www.actuarialoutpost.com/actu...d.php?t=187170
__________________
Exams: P FM MFE MLC C
VEE: Economics Finance Stats
#3
03-04-2012, 11:56 PM
 aaronhsmith Member SOA Join Date: Jan 2011 Location: Des Moines Studying for Prelims Favorite beer: Guinness Posts: 81

Quote:
 Originally Posted by tomhawk24 http://www.actuarialoutpost.com/actu...d.php?t=187170
+1 on this thread. You'll see a pretty clear pattern with a lot of the responders. Doing copious amounts of practice problems is key to passing FM.
#4
03-18-2012, 03:52 PM
 lllj Member CAS Join Date: May 2011 Studying for MLC Posts: 382

In my opinion, problems with bonds are easier if you ignore the bond formulas and just think if them like annuities with an extra payment at the end.
__________________
P FM MFE MLC C
ECON STAT FINANCE
#5
03-18-2012, 09:06 PM
 hoanglong252 CAS SOA Join Date: Aug 2011 Studying for Passed P/1 and FM/2 Posts: 9

focus more on the derivatives portion as the exam has been switching its gear towards this portion a lot recently
#6
03-19-2012, 12:42 AM
 StudyingIsFun Member SOA Join Date: Nov 2011 Posts: 389

Buy Guo's ebook...it's fantastic in my opinion, especially the portion on interest theory.

Guo needs more love on these forums. I used his books for P and FM and thought they were by far the best resource.
#7
04-10-2012, 03:35 PM
 actuaryinfuture CAS SOA Join Date: Jan 2012 College: Northern Illinois University Posts: 1
I can't second this more than enough

I passed my P by using Guo's manual that was really really helpful.
I plan use his manual for FM

Quote:
 Originally Posted by StudyingIsFun Buy Guo's ebook...it's fantastic in my opinion, especially the portion on interest theory. Guo needs more love on these forums. I used his books for P and FM and thought they were by far the best resource.
I
#8
03-20-2012, 04:32 PM
 Anthemyst Member SOA Join Date: Jun 2010 Location: Springfield, MA Studying for MLC Posts: 6,851

I can't emphasize the importance of owning a financial calculator enough. My TI-30XS from P/1 got me through the Financial Math college course I took with relative ease, so I assumed it would be fine for the exam. WRONG. A financial calculator will make your life a million times easier.

Oh, also you can bring more than one calculator with you, if like me you really prefer the multi-view.
__________________
. . . . . . . .
P FM MFE MLC C
#9
03-20-2012, 04:40 PM
 BlackSwans Member Join Date: Sep 2011 Posts: 418

problems, problems, problems.......problems problems........x 1000000

also, use a timeline, it helps.
__________________
P FM MFE MLC C
VEE: Finance Econ Stat
FAP
#10
03-23-2012, 02:59 PM
 stevenbl SOA Join Date: Dec 2011 Studying for MFE/MLC College: Virginia Tech Posts: 22

Pay extra attention on amortization schedules, especially the formulas coming from level payments. On the first 2 attempts to pass this exam I took, I was given 8 questions involving level payments.

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