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mathville
May 11th 2007, 06:12 PM
Hello,

I am wondering if it is possible to write exams FM and M at the same time (e.g. writing these during November 2007)?

wat
May 11th 2007, 06:53 PM
Hello,

I am wondering if it is possible to write exams FM and M at the same time (e.g. writing these during November 2007)?
There are now two parts to Exam M - Life Contingencies & Financial Economics.

Understand that if you do attempt this, you'll effectively be taking 3 exams in one semester.

djerry81
May 11th 2007, 07:00 PM
anything is possible if you have the money and the time to do it all. You can treat test day like your final exams and as if your a full time student

Irish Blues
May 11th 2007, 11:36 PM
anything is possible if you have the money and the time to do it all. You can treat test day like your final exams and as if your a full time student
If only passing these exams was that easy ... which is why people who've gone through the exam process caution against taking more than one exam at a time unless you've got a solid background on all of the material on those exams going in. It also explains why most if not all employers do not want students taking more than one exam at a time (especially on the upper-level exams).

BTW - I think there were exactly four (4) people who passed P, FM, and M in Fall, 2006 (where P was the sitting closest to when FM and M were given). I have no idea how many tried all three of those and failed at least one, but suffice it to say that number is definitely a lot higher than 4. It's not impossible to do, but the chances of failing at least one of them is much higher than the chances of passing all three.

Hawgdriver
May 12th 2007, 02:05 PM
I am preparing for FM, MLC, and MFE. If I had to do it over again, I would. I think I have a shot at passing all three, but I would probably feel more confident if I had limited my coverage to just the financial material. I think the MFE and FM material is more closely related to each other than the MLC material is to either (except for the annuities).

I will give you some background so you have a reference point. I have a financial math background (although the weak MBA variety) and have taken a course in stochastic methods. I studied 3 days for exam P using only the sample problem set from www.beanactuary.com and passed. I have been studying the last 3 weeks without any distractions in life (i.e. work) except for my last 2 finance classes (good overlap at least). Before those 3 weeks I would study about 4 hrs or so a day for the 2 weeks prior. I just finished my preparation for MLC, but would like to have another 10 days prior to the test to prepare. I have 5...

My point is that the work required is enormous, much more than I imagined, and think I'm probably at least an average student. If you decide to take 3, don't underestimate it. I don't know what M was like, but it is hard for me to imagine a test that covers all of the MFE and MLC material at once. My hat is off to those that did! I am not conversant with the syllabus changes, so I don't know exactly how much new material was added...but I do think each is worth its own test, with MLC a bit more of a beast.

I think taking FM and MFE at the same time is OK, but still requires some effort. The decision for me was whether or not to sign up for MLC. I had the money to spend on the test, and I looked at it as an investment. If I pass all the tests, I would hope to command a higher starting salary when I begin my career as an actuary. From that perspective, I don't think it's a bad idea to take as many as you think you can reasonably pass. At a risk-free rate of 5% and annual growth of 3% in salary that is $1000 higher than without passing, over the next five years, a rational decision would be to take the test (at $240) if your chance of passing is higher than 5%. :Dizzy: That ignores negative effects of failure, which may exist if already employed. If someone else is paying for the test I would only take FM and MFE.

Just realize that it will require nearly constant attention (yes, 10-16 hrs a day, what fun) over the course of a month or longer...and not many people have that luxury.

I would be ecstatic to pass all three, but it probably won't happen. Somebody told me to make sure I can pass at least two of the three, and I think that is good advice. Better yet, just register for fewer tests.

Good luck to you, mathville, and wish me luck as well!