SOA Exam Info Seminar

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SOA Exam Info Seminar
Brought to you by the
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Content

• Why should you take the exams
• Where to Begin Registration, Important Dates
• Statistical Science 2657 vs. Exam P
• Actuarial Science 2553 vs. Exam FM
• How to Prepare for an Exam
• Questions?

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Why you should take the exams

• Help you get a summer/full time job
• Required to obtain the FSA professional
  designation
• Increase in salary
• Very rewarding experience

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Where to Begin?

• Computer-Based Testing Rules and Procedures
• Website http//beanactuary.org/exams/cbt.cfm
• Information about
• How to register online for an exam
• Exam fees
• Approved calculators
• Important dates

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(No Transcript)
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Important Dates May 2009 Exams

• Exam P, Probability
• Registration Deadline April 2, 2009
• Test Dates May 12-21, 2009
• Offered 6 times a year (Jan. Mar. May Jul. Sept.
  Nov.)
• Exam FM, Financial Mathematics
• Registration Deadline March 25, 2009
• Test Dates May 5-11, 2009
• Offered 3 times a year (May Aug. Dec.)

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Statistical Science 2657 vs. Exam P

• Differences
• Discrete Random Variables
• Covariance and correlation coefficients
• Moment generating functions
• Bivariate normal
• Chebyshevs inequality

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Statistical Science 2657 vs. Exam P

• What to pay attention to
• Insurance terms
• Calculator
• Similarities
• Course material Differences What to pay
  attention to

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Actuarial Science 2553 vs. Exam FM

• Material covered by AS 2553
• Interest theory, loan repayment, bonds, yield
  rate
• Material Not Covered
• Value of a stock, net present value
• Financial Economics derivative securities,
  options, swaps, hedging

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How to Prepare for an Exam

• Register for an exam
• Borrow exam study material from Stats Office
• Create a study plan

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Training for an Actuarial Exam

• Three Factors of Success
• Knowledge and Understanding study all the
  material
• Speed write practice exams
• High energy level on the day of the exam rest
  well and be relaxed

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Training Plan
Bill Osenton, Watson Wyatt Worldwide, 2003 ASNA
Magazine
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Training Plan
This day didnt start at the top of the
mountain. This day started long before
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The Exam Environment

• Its going to be painful

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Test Center

• Computer Based Testing
• Items Allowed specified calculator (you bring),
  pencil and scrap paper (provided for you)

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Start Studying
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Best of Luck