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  #31  
Old 05-03-2019, 10:37 AM
OliverQueen OliverQueen is offline
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Well, good news or bad news from this week it'll be 8 either way. Not used to that...
And either way I need at least an 8 week break from studying lol
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  #32  
Old 05-03-2019, 10:39 AM
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And either way I need at least an 8 week break from studying lol
October is just five easy payments of 1 month away...
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  #33  
Old 05-03-2019, 02:15 PM
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would you recommend the path (Spring 19 Exam 5 -> Fall 19 Exam 8)
or would you just go with (Spring 19 Exam 5 -> Fall 19 Exam 6)?


tl;dr:

Are Exams 6 & 7 preliminary or super helpful to know for Exam 8?

Just took Exam 5, and I'm thinking of taking a shot at Exam 8 in the Fall since it's also Ratemaking and only offered annually (so by Fall 2020 and two sittings later, not sure how much ratemaking I'll remember from Exam 5).

Is the gap between ACAS-FCAS exam difficulty as wide as the gap between Prelims-ACAS exams?

Seems like we really want to take as many FCAS sittings as possible since people get stuck on their last annual exam for 3+ years.
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  #34  
Old 05-03-2019, 02:18 PM
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Originally Posted by BayesDeep View Post
would you recommend the path (Spring 19 Exam 5 -> Fall 19 Exam 8)
or would you just go with (Spring 19 Exam 5 -> Fall 19 Exam 6)?


tl;dr:

Are Exams 6 & 7 preliminary or super helpful to know for Exam 8?

Just took Exam 5, and I'm thinking of taking a shot at Exam 8 in the Fall since it's also Ratemaking and only offered annually (so by Fall 2020 and two sittings later, not sure how much ratemaking I'll remember from Exam 5).

Is the gap between ACAS-FCAS exam difficulty as wide as the gap between Prelims-ACAS exams?
Just take 6 first. Why would you want to delay your ACAS? If you took 8 in the fall, then 6 in Spring 2020, you'd only have 7 and 9 left, which would make you wait until Spring 2022 to finish. If you do 6 this fall, then 7, 8, 9 the next 3 sittings you'd finish your FCAS in Spring 2021 if you don't fail.
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  #35  
Old 05-03-2019, 02:24 PM
BayesDeep BayesDeep is offline
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Just take 6 first. Why would you want to delay your ACAS?
Because I think FCAS has significantly more upside than merely the sum of the raises, whereas ACAS is mostly worth just sum of its raises IMO; so it's worth minimizing net FCAS travel time at the expense of delaying ACAS even 1yr.

Quote:
If you took 8 in the fall, then 6 in Spring 2020, you'd only have 7 and 9 left, which would make you wait until Spring 2022 to finish. If you do 6 this fall, then 7, 8, 9 the next 3 sittings you'd finish your FCAS in Spring 2021 if you don't fail.
Assuming perfect travel time, in which case the order mostly doesn't matter. How about the more realistic possibility:

A: Fall '19 6 fail > now you're doing 0 ratemaking for at least 1yr until Exam 8.

B: Fall '19 8 fail > Spring '20 6 > Fall '20 Exam 8 attempt 2

I think on November 2020, Person B will have significant advantage over Person A in expected travel time. The question is how much hazing is B putting themselves through to gain this edge?
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  #36  
Old 05-03-2019, 02:27 PM
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Originally Posted by BayesDeep View Post
Because I think FCAS has significantly more upside than merely the sum of the raises, whereas ACAS is mostly worth just sum of its raises IMO; so it's worth minimizing net FCAS travel time at the expense of delaying ACAS even 1yr.



Assuming perfect travel time, in which case the order mostly doesn't matter. How about the more realistic possibility:

Fall 6 fail > now you're doing 0 ratemaking for at least 1yr until Exam 8.

Fall 8 fail > Spring 6 > Exam 8 attempt 2
I don't think those two scenarios would be that different. Either way you're taking 6 in the spring, then 8 next fall. I've heard there isn't as much overlap between 5 and 8 as you'd think.
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  #37  
Old 05-03-2019, 02:28 PM
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So . . . you're planning on failing?


Exam 5 is fundamentals. If you get to Exam 8 and find that some things are "missing" from Exam 5, it's only a week's worth of "research" to refresh yourself from the source material. At most. (If it takes longer than that, then you're doing things wrong.)


And don't forget TVM wrt ACAS raises. I get minimizing travel time to FCAS, but don't discount the impact of taking an entire sitting off from being in a "study habit" mode.
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Thanks for the info,
The quick site mods on here are very impressive
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  #38  
Old 05-03-2019, 03:39 PM
BayesDeep BayesDeep is offline
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So . . . you're planning on failing?
I'd say unless you think you're <20% to fail, you should include failure in your planning.


Quote:
And don't forget TVM wrt ACAS raises.
TVM factor being like 1.02/yr? (or you can increase your investment horizon by about 20 years and count TVM of equities, but then Utility-adjusted PV on ACAS raise is effectively 0 anyway)

Quote:
Exam 5 is fundamentals. If you get to Exam 8 and find that some things are "missing" from Exam 5, it's only a week's worth of "research" to refresh yourself from the source material. At most. (If it takes longer than that, then you're doing things wrong.)
Assuming 3 months of study for 8, adding an extra week is about 8% extra effort. Not a big difference, but also not trivial (certainly less trivial than TVM).

Quote:
I get minimizing travel time to FCAS, but don't discount the impact of taking an entire sitting off from being in a "study habit" mode.
This is in favor of starting FCAS exams early, do you see why? (you can only be forced to skip sittings if you have only FCAS exams left)

again, assuming 100% pass rate makes all of this irrelevant. What % of people do you think have 100% pass rate?
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  #39  
Old 05-03-2019, 03:52 PM
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Because I think FCAS has significantly more upside than merely the sum of the raises, whereas ACAS is mostly worth just sum of its raises IMO
Who told you this? I strongly disagree.
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  #40  
Old 05-03-2019, 03:55 PM
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Why even have an ACAS credential if it adds no value? FCAS>ACAS>>>NoCred imo
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