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ERM Exam Old Advanced Finance and Enterprise Risk Management (ERM) Forum

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  #201  
Old 05-14-2018, 10:28 AM
Pension.Mathematics Pension.Mathematics is online now
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Originally Posted by 110PercentWahoo View Post
You guys had an utterly ridiculous exam compared to the one I took last Spring (2017). The difference a year can make, wow. The INV extension seemed particularly rough.
it's all about "relative" performance though.

they will never fail 80% of a sitting.
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  #202  
Old 05-14-2018, 10:55 AM
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Any idea when passing candidates will be released?
Passing candidate numbers will be released on Friday, July 13. (yes, Friday the 13th...)
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  #203  
Old 05-23-2018, 02:53 PM
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Now that my account has finally been verified, I can provide my two cents....


That exam was awful!!! I don't think the graders would be able to hand write the answers straight from the answer key in under 4 hours. It was completely ridiculous.
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  #204  
Old 07-03-2018, 10:38 AM
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Now that my account has finally been verified, I can provide my two cents....


That exam was awful!!! I don't think the graders would be able to hand write the answers straight from the answer key in under 4 hours. It was completely ridiculous.
So what were the challenges?
What could you have done better to prepare?
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  #205  
Old 07-03-2018, 01:29 PM
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So what were the challenges?
What could you have done better to prepare?
Time constraint was the biggest problem, I felt like I understood the material well enough to pass. I should have timed myself and completely wrote out answers while doing practice problems from past exams.
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  #206  
Old 07-05-2018, 10:21 PM
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Time constraint was the biggest problem, I felt like I understood the material well enough to pass. I should have timed myself and completely wrote out answers while doing practice problems from past exams.
This is very good advice! The #1 issue I hear is time constraint, and it's usually not even close. If we all had 50 hours to take the exam, we'd all pass with flying colors, but it is specifically designed to be about 10% too much material for the time, so we have to rush a decent amount. And the best way to get used to that is to try the past exams in a "real world" situation with a time limit.

Also, I got myself a $10 watch from the gas station, and I put it on while I do practice exams. When I start a problem, I make a quick note of the number of points, what the time currently is, and I figure out when I am moving on from the current problem. You have at most 3 minutes per point. So, with a 4 point problem, I know I'm moving on in 12 minutes at the most. Having a watch saves me a bit of time from looking up to whatever crappy clock they have in the room that you're taking the exam.

And you should consider the 3 minute per point limit a HARD limit. When your time is up, move on. Countless students have told me about how they would hit the limit, but then figured they'd just take another minute or two to wrap up, then all of the sudden you've run out of time and have to leave a question blank, and blank questions kill your exam. If you have extra time, you can always go back and finish up later, but it's hard to get that time back.
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  #207  
Old 07-06-2018, 10:02 AM
ActuaryinAction ActuaryinAction is offline
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Originally Posted by PaulP View Post
This is very good advice! The #1 issue I hear is time constraint, and it's usually not even close. If we all had 50 hours to take the exam, we'd all pass with flying colors, but it is specifically designed to be about 10% too much material for the time, so we have to rush a decent amount. And the best way to get used to that is to try the past exams in a "real world" situation with a time limit.

Also, I got myself a $10 watch from the gas station, and I put it on while I do practice exams. When I start a problem, I make a quick note of the number of points, what the time currently is, and I figure out when I am moving on from the current problem. You have at most 3 minutes per point. So, with a 4 point problem, I know I'm moving on in 12 minutes at the most. Having a watch saves me a bit of time from looking up to whatever crappy clock they have in the room that you're taking the exam.

And you should consider the 3 minute per point limit a HARD limit. When your time is up, move on. Countless students have told me about how they would hit the limit, but then figured they'd just take another minute or two to wrap up, then all of the sudden you've run out of time and have to leave a question blank, and blank questions kill your exam. If you have extra time, you can always go back and finish up later, but it's hard to get that time back.
I agree with everything you say here. For me, if I read a practice problem and knew the answer in my head, it felt tedious and like a waste of time to write it out completely. I now realize that was a mistake, and practicing dealing with the time constraint is almost as important as knowing the material.
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  #208  
Old 07-10-2018, 11:08 AM
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Just a few more days. How is everyone feeling?
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  #209  
Old 07-12-2018, 06:26 PM
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Just a few more days. How is everyone feeling?
Incredibly nervous over here.

I did not feel well leaving the exam, but then again I left MLC having no idea if I passed or failed but I did really well on it.

I'm considering not even looking until late afternoon so I can leave if the results don't go my way.
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  #210  
Old 07-12-2018, 07:14 PM
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In my experience, all the FSA exams are tough to get a "feel" for after you leave the room. Sometimes you can tell if you aced it or if you completely bombed it, but the area in the middle is going to capture 90% of the exam takers.

But the time is getting close! The website says 9:00AM CT tomorrow, then we can all move on to whatever is next. Good luck either way!
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