Actuarial process

[thebesthelp]

Hey everyone. I am being realistic and maybe a little pessimistic. You see, I would like to think that I can make it through the exam process. The reality of it is that there are A LOT of exams and they are difficult. Time is not on my side, either. Let's say I pass a few exams, say, three. Or let's say I make it to ASA or ACAS. Is it then okay to throw in the towel? I mean, will there be positions for those who make it that far. I am just so confused right now because I don't want to isolate myself from my family yet I want to succeed. I think it would be smarter to know ahead of time what I am getting myself into than to get too far in and say, what the hell happened? I will have few friends, no close ties with family and such. Any opinions would be helpful. Thanks so much.

[TXMom]

Yu don't have to isolate yourself from your family in order to succeed in passing exams. Yes, with a spouse and kids it is more difficult since you are constantly being pulled in many directions, but it is do-able. I speak from experience.

There are many career ASA's and career ACAS' out there, so stopping at those milestones shouldn't be an issue.

[bermi]

There is no simple answer to the question of - TO BE OR NOT TO BE AN ACTUARY? YOU MUST LEARN AS MUCH AS YOU CAN ABOUT SUCCEEDING IN THE SYSTEM of QUALIFICATION and SUCCEEDING in the JOB ITSELF...which is a continuous process over time.

What is great about the career is IF you can SUCCEED in the system of qualification you are guaranteed a minimum quality of job which is on average at the top end of job quality worldwide.

What is fact is the road is long and requires much commitment and determination with a strong background in critical thinking and a DEEP RELATIONSHIP with your WILL POWER.

Have a look at my post here describing some actuarial duties (on page 3).

http://www.actuarialoutpost.com/actu...=178826&page=3

Whether you pass one exam or successfully navigate to ACAS/ASA (which shouldn't be a focus at your stage - the NEXT exam should be a focus) each exam will teach you something more about yourself and your ability to produce.

Thus even if you don't go all the way the process is of extreme value because attempting to optimize production in any business is a fundamental desire. I have known many people who started and passed a few exams - decided to stop - and went on to be Executives, PhDs, CEOs, Entrepeneurs.

I wish you luck in your journey and know before you start the most important thing is what you do TODAY. HOW MUCH YOU OPTIMIZE VALUE TODAY.

The road of an actuary is grounded in RESEARCH and CRITICAL THINKING. If you enjoy that you should take an exam and see what you learn about yourself.

I can say without a shadow of a doubt taking even ONE actuarial exam (PASS or FAIL) would be of huge value to someone's career WHETHER OR NOT they ultimately become a qualified actuary.

[bermi]

P.S. Buy "Foundations of Casualty Actuarial Science" and read Sholom Feldblum's, (FCAS, FSA, CPCU) AWESOME Introduction for a more broad based view on what an actuary is and his/her responsibilities aka what you'd be getting yourself into.

And if you're motivated READ FURTHER to gain valuable ground on actuarial exams.

The book itself is of GREAT VALUE in the actuarial/insurance and even financial community so you won't be wasting your money if you're wondering. A MUST HAVE for any actuarial library.

Here's a CAS link about the text:
http://www.casact.org/pubs/index.cfm?fa=castext

[KAJ7481]

It does take a lot of studying and dedication to get through the exam process. That being said, you do have some control over it. You should talk with your employer, some will expect you to take an exam every sitting. Others may be more flexible. For example, I took a sitting off when I was planning for my wedding. But even if you never miss a sitting, most study programs allow for 3 attempts.

It doesn't require complete isolation, but you will have to give up some time with friends/family. Usually you can balance seeing people with studying until maybe 1 or 2 months before exam time. So even if you take 2 exams a year, that's only 4 months out of the year where it's really difficult to make time for social activities.

There are some actuaries who are "career ASA's" and do very well.