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Thread: Exam 2/FM

  1. #1
    Actuary.com - Newbie Poster
    Join Date
    Jan 2012
    New York

    Exam 2/FM


    I took probability in January and it said that I passed it. Just checked my score report today and I got a 6. Does that mean if i got just one more question wrong i would have failed?
    Also, i'm beginning to prepare for exam 2 and i had a few questions. I've never taken a class in finance (im an econ major), so how difficult is it to teach the material to yourself compared to probability? In terms of the study materials, what did people find to be the most helpful? I've heard that ASM is extremely good for FM. I used actex for probability, and what I found most annoying is when I didnt completely understand a problem(even when looking at the solution), I had no one to talk to or ask questions to. Is there some kind of service I can use that offers this kind of help. Also, I've seen advertisements for ADAPT that touts really high pass rates for the people who use it. Is this resource as good as it says it is? And let's say I finish the main textbook I'm using and I still have a little while until the test and I just wanna do practice tests/questions. Is there a good place for this where the questions are similar to exam questions?
    I realize that these are a lot of questions, but i just want to make sure im well prepared because i feel like i could have been better prepared for the first exam. Any advice or sharing of exam experience would be greatly appreciated. Thank you!

  2. #2
    Actuary.com - Level III Poster
    Join Date
    Jan 2011
    If you got a 6 in Exam P, one or two more question wrong may result in a 5 (fail). But don't worry, many people got a 6.

    I passed Exam FM last year without taking any related courses in university. Many people say that FM is easier than P. (You may search this topic in the forum.) Of course, I also think so. I spent slightly more than a month and passed with a 7.

    I used Guo's Deeper understanding and Derivative Markets(the required textbook). I heard that ASM is very good too but I did not use it.

    I did not use actex for exam P. So I cannot comment on it.

    If you want to ask any questions, you may do so in any actuarial forums. Many people are willing to help.

    I have never used ADAPT. So I cannot comment.

    You may work on SOA practice questions which are similar to exam questions. If you would like to do more, you probably need to buy it from any actuarial bookstores.

  3. #3
    Actuary.com - Level I Poster
    Join Date
    Oct 2010

    practice, practice

    I used ASM and Actex for exam P, I found the ACTEX to be better at "teaching" the material, as it suited my learning style better. I have been using ACTEX and the recommended textbooks to suppliment the reading and notes. I have printed off almost every single one of Dr. O's practice problems as I have found that his exercises are more than stringent enough to prepare you for anything the exams can dish out (his exam P practice problems were VERY helpful). I believe it is akin to practicing free-throws (or any other repetitive athletic motion) you can read about technique and attempt to understand it, and you will, but nothing can replace going out and shooting 1000 free-throws with the information you have now in your nogging. Our luxury is that while reviewing, solving equations and reading your mind is essentially shooting free-throws.

    I am taking the exam FM on April 18th. Review, do problems, review solutions, review notes, memorize equations. Wash, Rinse, REPEAT!!. You will do fine.

  4. #4
    Actuary.com - Level I Poster
    Join Date
    Apr 2012
    Hi, i will also try on April 18th, goog luck to you!

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