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Thread: Do you need both MFE and MLC?

  1. #1
    Actuary.com - Level I Poster
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    Dec 2011
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    TX
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    Do you need both MFE and MLC?

    I have passed exams P and FM and I am wondering which exam to take next. I may decide to go for exam C next. When I did a cursory read over the page on http://beanactuary.com/exams/preliminary/?fa=preliminary-exams I didn't even realize that MFE and MLC were two separate exams because they are both marked as '3', I had assumed that one was on the SOA side and the other was on the CAS side. It appears to me that MFE and MLC are necessary for ASA and FSA, but only MFE for CERA. Would it be wrong to take exam C before MFE or MLC? Any advice is much appreciated. Thank you.

  2. #2
    Actuary.com - Level IV Poster
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    Yes, you have the right idea now. Both exams are required by both SOA and CAS. The only difference between societies is that CAS gives you an option to take 3L instead of MLC, but SOA will only give you credit if you pass MLC. MLC and MFE are two separate exams that fall under the '3' banner; this is just the way it evolved.

    No, it's fine to take C before MLC or MFE. I know people who've decided to do this. Personally, I found taking MFE and MLC before C helped me with the concepts, but they are by no means prerequisites. They probably just saved me an extra 30 or 40 hours of study on certain topics.

  3. #3
    Actuary.com - Level I Poster
    Join Date
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    TX
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    Thank you for clarifying.

    I am now leaning towards taking MFE next because I already have the Derivative Markets book because of FM. Though I am under the impression that C might look better on my resume and it would be nice to get the hard one out of the way first. I am still leaning towards MFE, though.

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