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  #1  
Old 01-12-2019, 02:29 PM
Canadiens Fan Canadiens Fan is offline
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Default LFV xor LRM in May 2019?

I just found out yesterday that I passed LP.

I have a couple of years of work experience in both Life pricing and valuation. I work in valuation now and January and February are very busy months workwise.

The initial plan was to do LFV-C this Spring if I passed LP, but now I'm wondering if 3.5 months is enough.

The thing is this will be the last sitting of LRM, so if I fail then I'd have to study for a new exam. If I fail LFV-C, then I'll get another shot at it in November since it doesn't change till Spring 2020.

I think I can put in around 250-300 hours of study time from now till the end of April. This includes both company and personal time.

I'm open to hearing your thoughts and advice.
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  #2  
Old 01-12-2019, 04:00 PM
trapperj trapperj is offline
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You will have to do both eventually. I know many people who get stuck on LFVC for years and years.
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Old 01-12-2019, 10:07 PM
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I'd go for LFV-C if you think you can put in 300 hours. You can probably politely negotiate the study time you need. I have worked in valuation and understand year-end demands, but if you are focused you can still get in the study time (e.g. just come in a bit extra early before the chaos of the day sets in). For the vast majority of people that take LFV, their study time is mostly between now and the exam date. Even those that buy materials in the fall don't really get going until January either. So you really aren't at any material disadvantage. It's all about putting in focused, quality study time during the time you do have.
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  #4  
Old 01-13-2019, 08:51 AM
FrancisY FrancisY is offline
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Quote:
Originally Posted by Canadiens Fan View Post
I just found out yesterday that I passed LP.

I have a couple of years of work experience in both Life pricing and valuation. I work in valuation now and January and February are very busy months workwise.

The initial plan was to do LFV-C this Spring if I passed LP, but now I'm wondering if 3.5 months is enough.

The thing is this will be the last sitting of LRM, so if I fail then I'd have to study for a new exam. If I fail LFV-C, then I'll get another shot at it in November since it doesn't change till Spring 2020.

I think I can put in around 250-300 hours of study time from now till the end of April. This includes both company and personal time.

I'm open to hearing your thoughts and advice.
If you can put in the high end of your range, i would recommend you to take LFV-CA first. Personally, i just like to grind through the worse now rather than wait =)

And if you are worried about the exam change, you have 2 shots of taking LFV-CA because the syllabus is the same between Spring 2019 and Fall 2019. With LRM, the material will change, but more or less, the concepts remain the same...while LFV-CA, you could be seeing totally different exams after the structural change.

Feel free to PM or email me if you want to discuss further.
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  #5  
Old 01-13-2019, 11:30 AM
ManyuW ManyuW is offline
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Quote:
Originally Posted by Canadiens Fan View Post
I just found out yesterday that I passed LP.

I have a couple of years of work experience in both Life pricing and valuation. I work in valuation now and January and February are very busy months workwise.

The initial plan was to do LFV-C this Spring if I passed LP, but now I'm wondering if 3.5 months is enough.

The thing is this will be the last sitting of LRM, so if I fail then I'd have to study for a new exam. If I fail LFV-C, then I'll get another shot at it in November since it doesn't change till Spring 2020.

I think I can put in around 250-300 hours of study time from now till the end of April. This includes both company and personal time.

I'm open to hearing your thoughts and advice.
I had to make the same decision when I was still a student. I chose LFV over LRM/ERM for different reasons:

1) Having taken and passed LP, I thought I was already in the "mode" to study for another 5 hour exam and did not want to go for a smaller exam and risk breaking that "mode".

2) I talked to few more experienced colleagues who never passed all their exams. I drew the conclusion that work will always get in the way and it is likely to get more in the way the more senior you get. The earlier you are in your career, and it may not seem like it at the time, the easier it actually is to take study leave. I was also working in valuation when I took LFV-C so although the cycles seem pretty consistent year on year, you never know when some special projects may come up and would interfere with your study plan. This actually happened to me quite a few times when projects came up during supposedly off-peak months.


Hope this helps.
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  #6  
Old 01-14-2019, 09:59 AM
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Eddie/Francis, how much do you expect the LFV US syllabus to change Spring 2020?
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  #7  
Old 01-14-2019, 10:26 AM
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Quote:
Originally Posted by itscheese View Post
Eddie/Francis, how much do you expect the LFV US syllabus to change Spring 2020?
I'd be more comfortable predicting interest rate movements.

But in all seriousness, I think many of the current concepts will be retained, and I would be surprised to see either the new stat book they just added or current GAAP book go away (but chapters could certainly change). Beyond those items, however, it's very hard to make a meaningful guess. What are you trying to decide?
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  #8  
Old 01-14-2019, 11:19 AM
itscheese itscheese is offline
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I'm in the same LRM/LFV boat. With year-end I know I can't get (or just can't motivate myself to find) any study time until February so LRM seems much more manageable.

What's complicating the decision is the changes to these two exams. With 1 more LRM sitting and 2 more LFV sittings before they change, would you recommend basing the decision of which exam to take on the syllabus changes? It looks like knowledge on the changes is pretty limited, but will one change more than the other or should I even take that into consideration?
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  #9  
Old 01-14-2019, 12:00 PM
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I would agree with what Eddie said. The 2 textbooks have to stay. I can't see there are any other books that are better than those. However, even if SOA decided to change, if you have those concepts down, it probably does not matter what books they use.

I work in Valuation and i know from Jan - Apr are very hard for people to study. But it's not impossible (hopefully you don't have to work on weekends). You might need to drink more caffeine to keep your mind working (i have to admit, some of the readings are boring). But going through the valuation exam this year is probably better for most students. You just never know what SOA will do =)
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