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raparand2
April 28th 2005, 04:37 PM
Hello everyone,
I am preparing for the upcoming SOA exam: FM for this May. This is my first SOA exam that I would ever be taking, and was wondering that if I pass this exam, does that put me out in obtaining a job in the actuary field? Plus is it okay that I am skipping SOA exam: P and doing the second exam of the sequence for job purposes?
Any thoughts would be much appreciated. Thanks!

wat
April 28th 2005, 06:28 PM
Hello everyone,
I am preparing for the upcoming SOA exam: FM for this May. This is my first SOA exam that I would ever be taking, and was wondering that if I pass this exam, does that put me out in obtaining a job in the actuary field? Plus is it okay that I am skipping SOA exam: P and doing the second exam of the sequence for job purposes?
Any thoughts would be much appreciated. Thanks!

It would depend on where you live. If you live in Canada, 1 exam may not be enough. In the US, 1 exam is sometimes enough of a qualification to get a job. Sometimes you won't even need to pass an exam, but sometimes you'll need at least 2-3. The larger the company, the more exams you'll likely need to be considered a strong candidate for the actuarial position the company is offering.

Good luck with your exam.

azaremba
May 2nd 2005, 01:45 PM
I recently began my first Actuary job after passing the first two exams. I never sat for a test in college and passed the two while at a non-actuarial employer. He is my advice to you because I was in and out of the job search during this time.

First thing, passing the second exam opened up so many more opportunities than I have had with only one exam. They say you can pass one exam with some luck and good math skills, but by completing a second exam it shows you have what it takes. Therefore once I had 1 and 2 passed my resume was much more competitive and I was able to get interviews I would not have had before. So I would recommend passing two. It is also a good career move, by only passing one can you really be certain this field is for you? What happens if you struggle to pass the second.

Next thing, it is still very possible to find a job after only one exam passed. Several of the companies I interviewed for, most of which were in Chicago, had students that were taking their second. However to do this it takes the following: either solid work experience/ background, or a great connection! I never interned in college making it more difficult to even find interviews with one exam. Again though, once I passed 2 and had some work experience at my other job it worked out fine. So if you can find an internship or other insurance related work that may help as well.

To sum up, this is what I would do. Try and pass the first one and the whole time from through when grades are released search for jobs. If you pass the exam great, you may find what you are looking for. Just remember, it cannot hurt to work elsewhere and sit for the exam on the side, though it is not easy with finding hours on your own it is more than possible. I graduated May 2003 and started my first job a month ago, if you want to enter the field keep at it and remember all the time and work you put in now will be more than paid off in the future! Good luck!

e15
May 16th 2005, 07:12 PM
Hi azaremba~


I have some questions that I would like to ask you.

Do you like working as an actuarist? How did you know it's the right career for you?

Are the exams really difficult?
How did you prepare for exam 1 and 2? Where can I find information such as exam time, exam topics...etc.


Thanks

Irish Blues
May 18th 2005, 09:13 PM
First thing, passing the second exam opened up so many more opportunities than I have had with only one exam. They say you can pass one exam with some luck and good math skills, but by completing a second exam it shows you have what it takes. Therefore once I had 1 and 2 passed my resume was much more competitive and I was able to get interviews I would not have had before. So I would recommend passing two. It is also a good career move, by only passing one can you really be certain this field is for you? What happens if you struggle to pass the second.

Next thing, it is still very possible to find a job after only one exam passed. Several of the companies I interviewed for, most of which were in Chicago, had students that were taking their second. However to do this it takes the following: either solid work experience/ background, or a great connection! I never interned in college making it more difficult to even find interviews with one exam. Again though, once I passed 2 and had some work experience at my other job it worked out fine. So if you can find an internship or other insurance related work that may help as well.

To sum up, this is what I would do. Try and pass the first one and the whole time from through when grades are released search for jobs. If you pass the exam great, you may find what you are looking for. Just remember, it cannot hurt to work elsewhere and sit for the exam on the side, though it is not easy with finding hours on your own it is more than possible. I graduated May 2003 and started my first job a month ago, if you want to enter the field keep at it and remember all the time and work you put in now will be more than paid off in the future! Good luck!

QFA. There are *thousands* of people who've passed Exam 1. There's a drop-off to the number of people passing 1 and 2, and another dropoff to passing the first 3. Passing #1 just puts you in a pool with everyone else - you'll want to set yourself apart, and more than one exam is a good way to do that.

novrain
May 30th 2005, 08:17 AM
It would depend on where you live. If you live in Canada, 1 exam may not be enough. In the US, 1 exam is sometimes enough of a qualification to get a job. Sometimes you won't even need to pass an exam, but sometimes you'll need at least 2-3. The larger the company, the more exams you'll likely need to be considered a strong candidate for the actuarial position the company is offering.

Good luck with your exam.

Hi, I am thinking about going to canada next year and maybe stay there for around two years. Could you please tell me more about how many exams are necessary to find a job there? Is it possible to find internships after I am out of college and had no experience before? Thanks!

VENCENT
June 1st 2005, 09:38 AM
hi
im planning to take exam 2. any one can help me of best books to study for it.
thanx

brianritchie
June 1st 2005, 09:50 AM
You might wanna check the Course FM Forum Section. There is a similar discussion thread there on the same question.

wat
June 1st 2005, 01:53 PM
Hi, I am thinking about going to canada next year and maybe stay there for around two years. Could you please tell me more about how many exams are necessary to find a job there? Is it possible to find internships after I am out of college and had no experience before? Thanks!

It's possible, but in Canada, the job market is tight. I hear that 3-4 exams after college is about the norm for students up north. It's very competitive, and you'll have to get a little lucky to get an internship w/out any experience (and even more so if you don't have any exams). But I would say start trying to pass exams, and see where you go from there.

ksmith1596
June 3rd 2005, 11:01 AM
If you can show you are able to pass the exams and handle the work associated with being an actuary, it will set you apart from others that just passed a test or two. I didn't decide to be an actuary until the final year of my math major. I was looking at entering the market with no exams passed. I got an internship and did well. After I graduated the company I had my internship with hired me on fulltime with no exams passed. I have passed exams since then, but showing I could do the work was more important than my test taking ability. Even if the company you have an internship with can't hire you fulltime, a good recommendation can go a long way.