Exams/Actual work

[Qball529]

do we really get to use what we get tested over when we actually work?
I feel like it's a dumb question since we wouldn't have to pass all those exams if it were true but just wondering how I'll be applying those knowledge to actual work

[Dofer]

Some of the exams have definitely helped me to have a greater understanding of what I am doing in the job (rather than just following someone's directions). You won't use a lot of the information from the exams, however I think the purpose of these exams is to make you quicker on your feet and more analytical.

[mathmajor]

Exactly. The core concepts are important... variance, sampling, probability, deductibles, interest rates, etc. Will you calculate things on the job like you do on an exam? Unlikely. But it's still a weed-out and you learn some good background.

[minus]

When you start off, your computer skills and knowledge of how your company works will probably be more important than your math skills. I'll let you know what it's like at the upper levels when I get there.

[sassafras]

Not sure how it goes on the life side, but for P&C I use the upper level exam stuff a lot. My company doesn't really support the exam process, so I tend to take the exams as I need them for what I'm doing at work. I've found that I use the pricing, reserving and annual statement stuff all the time, so have taken those exams. This gives me a very strange resume...have some of the upper levels, but missing some of the lowers.

[actexp]

on soa side don't think we use a lot directly per se in most jobs. It's more the awareness of the existence of various topics and techniques, and the ability to go find or research something as needed. Mostly, it is imo the ability to evaluate and solve business type problems that you hopefully learn from the exam process overall

[IKnewIt]

Originally Posted by sassafras

Not sure how it goes on the life side, but for P&C I use the upper level exam stuff a lot. I've found that I use the pricing, reserving and annual statement stuff all the time, so have taken those exams.

This is true. You definitely use the upper level exam material on a daily basis when working in P&C (though which exam's material you're using depends on what area you work in). Also, I'm continually surprised by how often preliminary exam topics come up on the upper level exams.

[Interrogative Statement]

I use almost the mathematics from the exams. The most complicated math operation I do is ever-so-occasionally tell Excel to take a logarithm.

[binky_4me]

the only exam that i've seen practical use at work was from mlc. the formulas are the basis for our pricing models. we looked over the macros a few times and whoever wrote it several yrs back actually used the p's, q's, s's, and l's. it was pretty cool to finally see direct application.