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Investment / Financial Markets Old Exam MFE Forum

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  #1  
Old 02-25-2020, 10:07 AM
Berkmaster Berkmaster is offline
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Default Ready for IFM

Hi everyone,

In the last 7 months I took exams P and FM. I left exam P thinking I answered every question correct and scored a 10, indicating I probably did. I left FM yesterday thinking the same thing, so hopefully I scored something in the same vicinity.

My worry is about exam IFM. I have never taken a finance class nor anything remotely connected to the business world. I have two Master's degrees, one in Math and one in Physics, so exam P was very straightforward as I've taught most of that material over the last twenty years. Exam FM required a lot more work because I was completely unfamiliar with the content. I used Finan's online book and felt it prepared me very well for the exam.

I just bought the actex manual for exam IFM and was hoping someone could reassure me that that would be enough for the exam given my complete lack of experience with the content. With FM, I had a textbook, albeit an online one, so I am a bit worried that the manual will skimp on theory and just give me "what I need to pass", as opposed to giving me a complete understanding of the material.

Thank you in advance for your time and consideration.
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Old 02-25-2020, 11:21 AM
Telewreck Telewreck is offline
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I completed P last September and FM last December and I'm planning on taking IFM in March, so I feel our timing is roughly equivalent. I have a math degree from 15 years ago so all of this content so far is the first time I have encountered it. I thought P was pretty challenging and FM was a bit easier, but IFM is altogether different. I used Finan for P and an older version of ASM for FM and I thought they both did a good job of preparing me. I bought the newest version of ASM for IFM and I think it is OK so far. I think conceptually the material is more difficult to comprehend and there is a lot more material that is covered vs P and FM. When are you planning on taking IFM?

Corey
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  #3  
Old 02-25-2020, 11:44 AM
Berkmaster Berkmaster is offline
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Hi Corey,

Thank you for responding. I am planning on taking IFM in July. I work full time as a high school teacher, part time as a University instructor, and tutor roughly 40 hours a week on the side. I fit in studying on the side of that. It took me roughly 5 months to prepare for FM so I think 5 months for IFM seems reasonable. On the offchance I am not ready by July, I would certainly be ready by November.
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  #4  
Old 03-02-2020, 10:49 AM
sec_actuary sec_actuary is offline
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Join Date: Nov 2019
Studying for IFM
College: Auburn University
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Quote:
Originally Posted by Telewreck View Post
I completed P last September and FM last December and I'm planning on taking IFM in March, so I feel our timing is roughly equivalent. I think conceptually the material is more difficult to comprehend and there is a lot more material that is covered vs P and FM.

Corey
Less than a month for this exam? I'd like to know if you pass, because for this exam that's wild. I'm on my third attempt, IFM is a whole other beast compared to P and FM, which I had no trouble with either. On the flip side, I was a student already when studying for the first two. Studying on top of work is a challenge in itself.

Edit: I'm a dumbass. For whatever reason I read that you passed FM in February. It's a Monday for sure.
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  #5  
Old 03-02-2020, 11:11 AM
Berkmaster Berkmaster is offline
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I started studying for IFM using the Actex Manual. Starting March 1 (yesterday), if I do 1 section per day and then add a day for the exercises, plus a day per mock exam at the end, I should finish studying for the exam with 2 days to spare for a July 13 exam date.

I am hopeful this is a reasonable studying schedule. If not, then there's always November.
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  #6  
Old 03-02-2020, 02:15 PM
sec_actuary sec_actuary is offline
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Join Date: Nov 2019
Studying for IFM
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Quote:
Originally Posted by Berkmaster View Post
I started studying for IFM using the Actex Manual. Starting March 1 (yesterday), if I do 1 section per day and then add a day for the exercises, plus a day per mock exam at the end, I should finish studying for the exam with 2 days to spare for a July 13 exam date.

I am hopeful this is a reasonable studying schedule. If not, then there's always November.
July is definitely reasonable. With your Math and Physics background, I would say that the math itself is nothing, however the financial concepts are what's tricky in this exam, at least for me.
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Old 03-03-2020, 11:39 AM
Telewreck Telewreck is offline
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I agree with the above. I am finding IFM really challenging, so I am going to try some different things and use flash cards. 2 more weeks....

Corey
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  #8  
Old 03-03-2020, 08:02 PM
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hrm57 hrm57 is online now
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I'm sitting in July as well. I plan to start studying this week. I am going to use a mixture of CA and the Derivatives Markets text. Hopefully seeing the material presented in two different ways will help my understanding.
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