Study Materials

[johngalt13]

Hi, I'm new to the forums, and I am getting ready to study for the probability exam this summer. I've read a few threads on which materials are best, but there's usually not much input and a lot of contradicting arguments, so hopefully with a little background, more of a consensus will be met.

I'm very good at math, I am done all of the math requirements to have a bachelors degree in mathematics. I have decided to take one more semester starting in September to take micro and macro economics and to take calculus based statistics. I want to have the first test out of the way when I start the semester so I can begin studying for the second and have that done by the time I graduate in January.

While I have a great background in mathematics, I am, of course, missing the most important course for the first exam.

So I ask, what do you guys think is the best book/course for me to get?

I saw this posted, which looks good, especially since it is free. Can anyone say the content is good though?

http://faculty.atu.edu/mfinan/actuarieshall/book.pdf

Of course my other debate is between ACTEX and ASM.

Both look good, what do you guys think for someone with my math background?

And even further, I see that ACTEX has a study guide and a "value pack". I don't really want to shell out $225 if I don't need to though (especially since the normal version is only $100).

http://www.actexmadriver.com/productdetails.cfm?PC=1156

http://www.actexmadriver.com/productdetails.cfm?PC=3910

http://www.actexmadriver.com/productdetails.cfm?PC=3916

Thanks for any input!

[Super Z]

I haven't taken the exam yet but I used the free book you linked to learn the theory. It is very in depth (proofs included) and well written. Compared to the 4 free practice exams from TIA, the questions at the end of each chapter are MUCH easier than those on the practice exams. However, all theory is covered.

As I said, I haven't taken the exam yet (next week) but I feel it's a great source.

After finishing the book, I went through the SOA 153 or whatever it's called and then took practice exams. I feel as if I'm well prepared.

[Klaymen]

I would buy a used Actex manual (or equivalent) for $50 from someone on this discussion board. You shouldn't need a "value pack", just a source of extra problems to work on. Many people find an ADAPT subscription from Coaching Actuaries helpful too.

[Muneer MD]

I'd suggest the Actex manual and an Adapt subscription. Buying a new manual or an old one is your choice. Since, the syllabus hasn't changed since 2010, even an old and used manual would do. I passed the exam in March with a 2010 Actex manual. The value pack including flashcards, study manual, blah blah blah is useless in my opinion. Just buy an actex manual (new @ $100 OR old @ about $50 or so) and a 30 day adapt subscription, worth $69 one month before the exam and you'll be ready to study after paying $169 (even lower if you buy a used manual)

[Ginniv22]

Is it ok to use an old edition of Actex? I studies from 2009 edition..

[hairgreen]

"probability for risk management" for starters, else go for actex.

[ericp]

It's all personal opinion of course. I have both. For me the actex manual was the most descriptive. I found the ASM manual assumed I knew a bit more than I did as a beginner. I believe both use published SOA problems as examples (don't quote me on that though, it's been a while) which is sort of a bummer.

[ericp]

Want to clarify. My ASM manual is old, circa 2007, too old to be used for comparison.