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Financial Mathematics Old FM Forum

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  #1  
Old 05-29-2017, 07:52 PM
AspiringActuary19 AspiringActuary19 is offline
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Default Exam FM/2 August 2017 Thread

Hey all,

Just thought I'd start a thread for us August exam-takers. I started studying for this thing a few days ago and it's already starting to look a little crazy; is this just [what I will from this point forward refer to as] "First Actuarial Exam Syndrome" setting in?
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Old 05-29-2017, 09:35 PM
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NattyMo NattyMo is offline
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Have you ever taken a course in financial math or theory of interest before, or are you self-studying from scratch? If the latter, I can see why it might seem somewhat intimidating.

I find the FM material to be interesting, but I've had classes on it in college. I don't think I'd be comfortable starting from scratch and attempting the exam in a little more than two months though. That's just me and YMMV.

As usual, if you have questions, bring them here and someone will likely be able to help you out.
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Old 05-29-2017, 10:23 PM
AspiringActuary19 AspiringActuary19 is offline
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I am self-studying from scratch so this is all new to me for the most part, so yes, rather intimidating. I'm taking the exam on the 14th, so I guess I have the benefit of preparing slightly more (albeit not by much).
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Old 05-30-2017, 12:50 PM
CrunchinNumbers CrunchinNumbers is offline
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I took the exam in April, studying from scratch and only used Coaching Actuaries for 3 months. I got over a 5.5 in EL, if you know anything about that yet, and failed. I got a lower earned level than that for P, and passed, so I felt really confident.

I am going through the ASM manual right now, and am learning things in more detail. Maybe it is easier because I had a foundation to start with, but the ASM manual is awesome. I wish I used it for P, and will definitely use it for MFE. Look into that.
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Old 05-30-2017, 05:05 PM
AspiringActuary19 AspiringActuary19 is offline
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I am actually using the ASM manual and it's fairly insightful, if a bit overwhelmingly detailed.
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Old 06-02-2017, 11:05 PM
saigontrade88 saigontrade88 is offline
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Hi all,

I am also preparing for the FM exam on August-2017, and I am using the ASM, 11th edition.
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Old 06-07-2017, 05:38 PM
Futon Futon is offline
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I have the 10th edition (copyrighted 2010).
Is there a reason why the ASM manuals use such old questions (dating back to 1983)?Wouldn't giving questions from the more recent exams make more sense? The ASM manual has a really good reputation so I'm not complaning, just wondering why.
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Old 06-07-2017, 09:11 PM
Harold Cherry Harold Cherry is offline
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Quote:
Originally Posted by saigontrade88 View Post
Hi all,

I am also preparing for the FM exam on August-2017, and I am using the ASM, 11th edition.
The 11th edition of ASM's Exam FM manual covers the syllabus for the April 2017 or prior exams. The syllabus has changed significantly for the June 2017 and subsequent exams. The 12th edition of the ASM manual was published in January 2017 and covers the new syllabus. This is the edition that you should be using to study for the June or August 2017 exam.
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Old 06-07-2017, 09:22 PM
Harold Cherry Harold Cherry is offline
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Quote:
Originally Posted by Futon View Post
I have the 10th edition (copyrighted 2010).
Is there a reason why the ASM manuals use such old questions (dating back to 1983)?Wouldn't giving questions from the more recent exams make more sense? The ASM manual has a really good reputation so I'm not complaning, just wondering why.
With regard to using the 10th edition, see my previous post. You should be using the new 12th edition.

With regard to using questions from more recent exams, here is the explanation:

The only questions and solutions from recent exams published by the SOA are from the actual May and November 2005 exams. They also publish well over 100 sample questions and solutions, many of which are from past exams. The manual doesn't include these more recent questions because you can get them on the BeAnActuary.org website. What the manual does include are questions and solutions from old exams that you can't get from the SOA or BeAnActuary website. This is explained in the Introduction to the Manual:

"This manual does not contain the questions and solutions available on www.BeAnActuary.org. Currently, this website includes the actual May 2005 and November 2005 exams (but note that these two exams were very easy) and well over 100 sample questions and solutions, many of which are from past exams. You should definitely get these additional practice problems. You can download them for free from the BeAnActuary website. We have not included them in this manual because we didn’t want to waste space and expense by duplicating material that is freely available from another source."
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Old 06-08-2017, 03:30 PM
Futon Futon is offline
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Quote:
Originally Posted by Harold Cherry View Post
With regard to using the 10th edition, see my previous post. You should be using the new 12th edition.

With regard to using questions from more recent exams, here is the explanation:

The only questions and solutions from recent exams published by the SOA are from the actual May and November 2005 exams. They also publish well over 100 sample questions and solutions, many of which are from past exams. The manual doesn't include these more recent questions because you can get them on the BeAnActuary.org website. What the manual does include are questions and solutions from old exams that you can't get from the SOA or BeAnActuary website. This is explained in the Introduction to the Manual:

"This manual does not contain the questions and solutions available on www.BeAnActuary.org. Currently, this website includes the actual May 2005 and November 2005 exams (but note that these two exams were very easy) and well over 100 sample questions and solutions, many of which are from past exams. You should definitely get these additional practice problems. You can download them for free from the BeAnActuary website. We have not included them in this manual because we didn’t want to waste space and expense by duplicating material that is freely available from another source."
But it wouldn't hurt to use the 10 edition right?

After all, we should be following the syllabus and not the textbook. As I look through the contents of the syllabus and the textbook, I don't think the textbook excludes anything from the August 2017 material. Additionally, looking at the suggested textbook section of the syllabus, deciding how we use our textbooks seems intuitive as no textbooks truly follow the syllabus (ASM, the most praised Exam/FM, book isn't included here surprisingly).

I don't know how different the 12th edition is from the 10th edition; but if the difference is enough to be a concern in a way that the latest edition is significantly more superior and beneficial, then I might consider buying the upgraded textbook.

And thanks for the reminder. I seemed to have skimmed the introduction.
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