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AndresGaviria
October 15th 2009, 01:51 AM
Hi everyone, at this moment I'm studying for the MLC sitting in Nov 2009. I already passed exams P, FM, MFE and hopefully will pass the MLC.

I was planning on taking exam C in spring 2010, however due to certain knowledge requirements of my new job, I think AFE would certainly be more useful in the short term (A LOT more useful).

I read somewhere ( I just can't find it know) that you need to pass at least 3 preliminary exams (MFE/MLC count as 1) to be able to register for the FSA exams, can anyone confirm this?

On the other hand, do I have a real disadvantage if I take AFE before C, and/or FAP and the rest of the FSA modules? Would it be harder for me to pass it? I know it's a very long syllabus and I'm prepared to start studying as soon as the SOA enables the registration and study notes ordering, so I would have 5 or possibly 6 months to study. How many hours would it take to cover the material and fully prepare for the exam? I know it depends on a lot of things, but an estimate would be greatly appreciated.

Thank you, and good luck to everyone for the Fall sitting!

PAK
October 15th 2009, 06:45 PM
No. There is no requirement to take the AFE exam.

No, I don't think you have any disadvantage.

In general, most people spend 350-400 hours to study for this exam. If you want to be conservative, you may want to put 450 hours.

Should you have any questions, please feel free to contact me =)

AndresGaviria
October 15th 2009, 08:28 PM
Hi Eddy, thank you for your response. Do you think the syllabus will suffer any changes for the Spring 2010 sitting? Any changes in the required textbooks or readings? Are you planing on changing your study manual/Notes/Aids etc? If so, do you have an estimate date for the release of the new material?

I must confess that the idea of doing the AFE exam just came to me recently, and I'm a little bit scared. I would definitely use your manual because I don't want to risk 6 months of hard work.

I'm asking you about the syllabus and your material because I wouldn't like to loose valuable study time, and I would prefer to buy the textbooks (at least) in advance.

Thanks again, and congratulations on your most acclaimed study manuals! =)

PAK
October 16th 2009, 12:16 AM
Thank you very much for your support.

A1: I do not know whether the syllabus will be changed or not (usually it will be changed in the Spring syllabus). I heard that the new syllabus will be uploaded around mid. Nov. You may want to look at the SOA website and see when they will post that.

A2: For my study manual/package, I change it all the times (improve features and materials inside so that it costs people the least time (and pain) to go through the whole syllabus and helps them pass in the first attempt.

A3: My study manual/package will be released by different stages (dates). The 1st release will be 11/15 (assume the SOA will release the syllabus before that day). If not, it will be 11/30 so that people can start studying as soon as possible (I were in your position before. I know how you feel =)

A4: If you are not 100% sure whether you will take the AFE exam, I suggest you reading the online readings (e.g. ERM specialty guide) in the Fall syllabus so that you can get a feel of what the AFE is.

Should you have any questions, please feel free to send me an email =)

Welcome to the AFE world \(^O^)/

campbell
October 17th 2009, 03:39 AM
I agree with Eddy that if you'd like to start before the syllabus is released for spring, start with the online readings.

One of the readings that is likely not to change is the SOA Specialty Guide (http://www.soa.org/library/professional-actuarial-specialty-guides/enterprise-risk-management/2005/august/spg0605erm.pdf), and I think that's a good reading to start with.

By the way, I teach an online seminar for AFE (http://www.theinfiniteactuary.com/?page=soa_afe), and if you go to the lesson page and expand it (http://www.theinfiniteactuary.com/?page=exams&id=126), there are two free videos [lessons 1.02 and 1.18] you can check out to get a feeling for it.

Best of luck!