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Thread: Do we really need all 7 books that the SOA suggested?

  1. #1
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    Do we really need all 7 books that the SOA suggested?

    Do we really need all 7 books that the SOA suggested?

  2. #2
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    At least up to module 5 (which I am reading now), if you have a general idea of insurance you really do not need to read any of the books!!

    Also, up to module 5 (if my memory is good) you only have to read two or three short chapters of the Group Insurance and the Fundamentals of private pensions. So, at least, you can delay the purchase of these two for a couple of months.

    If you still want to buy any textbook I suggest you could begin by purchasing the Actuarial Control Cycle and the ERM.

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    How do you like FAP so far?

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    At least the first four modules are just reading and more reading. You will not find a single formula. Interesting reading to learn about insurance and the about what actuaries do.

    I believe (hope) that it get more deep in the concepts in the upcoming modules.

    ALso, (please note that I have not even finished module 5),unless the modules suddenly become unexpectedly complicated, I really do not think that you need to have finished even a single exam to be able to finish the modules. Of course you need to have an idea of insurance and some basic finance and probability idea to cope with the end of module exercises.

    Probably someone having finished the modules (or near the end) could provide some information on how complicated it gets.

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    Does FAP tell you what chapters to read and for what modules? or does it just talk about certains things, and you have to look through the books and find that subject yourself?

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    It tells you in each module what you have to read. In that aspect, it is very well organized.

  7. #7
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    Oh thats great, thanks so much for all the information. Since the first 5 modules are just reading, do you think the 1st test for FAP will be hard?

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    I do not expect the interim assessment to be difficult.

    However, so far,I think that what you learn in the modules does not prepare you to the eom exercises. They try to give you the frame on how to approach the solution. For example, the modules are constantly repeating (to the extreme) about the actuarial control cycle and telling anecdotes and real life examples. But, to solve the eom exercises you have to apply your common sense or general knowledge not included in the modules. As I told you before, with a basic idea of insurance, (and probability and finance) I believe that is more than enough (for the first 4 modules).

    But, following this (that the modules does not give you the practical tools to solve the eom exercises), I really do not know if in the final assessment (in which if I remember well you only have 96 hours or so to solve) they will not ask you to apply some more complicated concept included in exam C for example, in which case probably you will lose a lot of valuable time having to read about it (and probably failing the assessment).


    For example the FAP final assessment passing rate for Dec 07 was 66 percent (out of over 800 people). I guess it must get convoluted at a certain point.

  9. #9
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    Have you completed the VEE requirements?

  10. #10
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    Yes. I made use of the exemption of the CFA examinations.

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