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Thread: What to study for someone switching careers

  1. #1
    Actuary.com - Newbie Poster
    Join Date
    May 2010

    What to study for someone switching careers

    Hi Everyone,

    Could someone help me or redirect me to another post if needed. I am looking to switch careers and have started to study for exam p. Currently I am going through Finan's ebook and have made some progress. I am coming from a background in engineering though haven't used calculus in 6 years and have only had one statistics course and no probability courses. I did well in my college calculus classes, but at times needed help to bridge illogical gaps in my course material.

    I am planning on going through Finan's ebook, then Probability for Risk Management, then either Broverman's or Ostaszewski's manual(what are the differences here)? My main goal is to understand the information, then build speed using practice tests. I need a text book with lots of examples that build up my understanding of the material and then learn to apply the concepts for exam p.

  2. #2
    Actuary.com - Newbie Poster
    Join Date
    Apr 2010
    Hey snowboots,

    I'm also an Engineer who is trying to prepare for the P1 exam. I graduated with an EE degree 20 years ago. It's been 23 years since I took Calculus. I'm picking it up fairly quickly though.

    Right now, I'm reading the Actex 2009 Study Guide. Unfortuntely, I'm working about 55-60 hours a week, and am having a tough time finding time to study. Starting a new career is helping to keep me motivated though.

    I have a friend who made the switch and he told me not to waste my time reading text books for this test. He said to get the study guide, read it, understan it, and be able to do all the problems, quickly. I hope he's right.

    As an Electrical Engineer, I took Digital Logic Design. From what I have noticed, alot of the early stuff in Probability, I can apply it to Digital Logic and it's making me pick it quicker. For example, the union of two events, is similar to an OR gate, and the intersection is an AND gate. In Digital Logic, we make Karnot maps. This takes it one step further, and applies, values to the karnot map, other than making all states equal. I've only completed 3 chapters out of 11 though, so I'm not sure what's going to come next.

    Good luck.

  3. #3
    Actuary.com - Newbie Poster
    Join Date
    May 2010
    I picked up a copy of Introduction to Probability 2nd Edition by Bertsekas. I've made it through the first chapter and need to start on the problem set. I've found a complete answer guide on MIT's website to compare my answers to. I like the layout, and it seems to make sense. I probably won't complete any proof questions but it seems to bridge the gap between just using a study guide. I was looking for a way to understand an idea, work a couple problems with varying difficulty and then learn and apply just what I need to know for the exam.

    I have looked through the sample of the 2010 Actex manual and see that it has about 100 pages of teaching material and then 20 exams. How much explanations/examples does the 2009 study guide have before sample tests?

  4. #4
    Actuary.com - Level I Poster
    Join Date
    May 2010
    Hello boots,

    I'm a part-time student studying finance, and I'm looking to start studying for exam 1/p. I was looking into getting Probability for Risk Management. Based on reviews I've read, this should be a good book to teach myself prob and practice for 1/p. However, it seems like I may need a good supplement study guide that's at the level of the exam. I'm ready to take the leap, but not sure I can learn it all. Good luck to you, though.

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