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Life Pricing Exam Old Individual Life & Annuities Design and Pricing Forum

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  #11  
Old 01-14-2018, 10:54 AM
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Eddie Smith
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Join Date: May 2003
College: UGA
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Quote:
Originally Posted by BarryAllen View Post
Hi Eddie,

I am a first-time FSA exam taker. Currently I'm working on IA and trying to meet ASA requirement before July, hence don't think I would be able to sit for Spring 2018 LP. Just wondering what is the anticipated date for Fall 2018 LP online seminar to be available?
Our online seminar is available year-round, so when you are ready to get started, we will be ready too. If there are syllabus changes, we don't put out new material for those until soon after the SOA publishes the new syllabus.

We often make special exceptions for anyone who wants to get an extra early start depending on their situation. If you want to target the fall exam before the spring sitting is over, just get in touch with me by email and we can discuss a strategy.

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I understand that SOA recommendation is to take the regulation and tax module beforehand but do you think completing the module will be helpful for us to study Exam LP?
I would say it has a neutral effect. The regulation and tax material on LP is quite comprehensive, so you will have a lot of it to study and learn for LP regardless. The US and Canadian tax material is some of the most challenging material on the syllabus, but we have a large collection of lessons to help you get through it more efficiently.

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Based on historical exams, are the annual changes in syllabus significant?
It is honestly impossible to predict. Some years the changes are light, while other years up to 25% of the syllabus can turn over. A more typical year sees about 5% of the syllabus change in terms of page count. We will make updates for any future syllabus changes regardless.

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Also, the purchase of study note from SOA is necessary? Or the online-seminar bundle would provide similar study note?
I strongly recommend purchasing SOA study notes for 2 reasons: 1) even if you don't read them word for word, it is extremely useful to be able to reference them on your own because you can often make your own unique connections and answer certain types of questions for yourself without needing to ask someone else. 2) It is a great way to help support the education function of the SOA.

Our online seminar is extremely comprehensive and designed to help you extract as much as possible from the syllabus in the relatively limited amount of study time most people have to process the 2000+ pages of source reading on the syllabus.

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I understand that the transition from Prelim to FSA exams is quite challenging. As this would be my first time, how many months do you think I need to prepare for it? Based on my past experience, I spent 3 months for both Exam C and MLC, 2 months for MFE and 1 months for P and FM.
It varies by person. I also recommend watching this video for more info on moving from prelims to FSA exams, which is designed to answer a lot of common questions about FSA exams for folks in your situation. LP is very passable for someone who has 3-4 months of time available. The quality of study time means a lot more than quantity. The key is getting the most out of your study time, avoiding distractions, etc. The single most important success factor is time management (i.e. staying on schedule). It is very easy to run out of time and not cover the whole syllabus if you don't stick to a schedule. That's one reason we provide a study schedule with the online seminar: both in spreadsheet form and also built directly into the lesson structure.

If you have other specific questions, feel free to email me. Good luck!
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  #12  
Old 01-16-2018, 11:19 AM
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Eddie Smith
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Join Date: May 2003
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Here is a roundup of key links from the blog archive that you might want to check out:

There is no one right way to use the online seminar, but I generally recommend using the first half of your study timeline to learn as many concepts as you can. Then focus on memorization in the last 1.5-2 months.

Your goal shouldn't be to become an expert in the material, but the practical value of learning concepts is that it reduces what you need to memorize and tends to stay with you longer term. Exam problems tend to test your ability to "see through" to the underlying concept, too, so strictly memorizing formulas isn't always a sound strategy. Hopefully by exam day, you'll know how to bend those formulas to your will!

Whatever you do, stick to a study schedule like the one we provide in the online seminar. One of the most common things I hear from people who don't pass basically goes like this: "I simply ran out of time and didn't get to everything on the syllabus." If you find your approach is causing you to fall behind schedule, please make adjustments sooner than later. I am happy to help with this too.

I honestly think FSA exams are passed or failed in the study process itself, and time management is not just a critical factor -- it's probably the most critical factor.
__________________


Learn how FSA exams are different from the prelims

We have your exam covered:

LP | LFV-U | LFV-C | LRM | ERM | QFI Core | QFI Adv | QFI IRM | G&H Core | G&H Adv | G&H Sp

Check out our Technical Skills Course and our new R Course!

Connect on Twitter, Facebook, & LinkedIn
Reply With Quote
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