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Thread: 2 more weeks!!How's your progress for this coming FM exam?

  1. #1
    Actuary.com - Level II Poster
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    2 more weeks!!How's your progress for this coming FM exam?

    FM exam is two more weeks from today. How's everyone's progress??

    I am little nervous because I don't know how hard the exam is gonna be.........

    What do you all think which topic is the hardest one?

    Welcome to share!!

  2. #2
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    Not as good as I would like. I've been so busy with other stuff but I think I have a decent grasp. I need to just work on some specifics and much much more practice.

    Quote Originally Posted by YKT View Post
    FM exam is two more weeks from today. How's everyone's progress??

    I am little nervous because I don't know how hard the exam is gonna be.........

    What do you all think which topic is the hardest one?

    Welcome to share!!

  3. #3
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    problem sets, problem sets, problem sets.... :Smart:
    i'll just do as many as I can, hopefully i'll be able to see all TYPEs of questinos, and get my problem-solving speed up

  4. #4
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    I feel alright. I took my first practice exam last night, got 18/25. There were only 4 I didn't answer, and now I know what I have to work on (Continuous annuities, force of interst/discount, etc).

    I'm taking the ASM study manual. I don't feel as confident as I did when I took P, but I feel like I'm on the right track.

  5. #5
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    A little nervous...but its just practice practice practice from now till then ...


    O h i have a question...
    How would you do this question:
    Theory of Interest...
    Sectin 6.4
    Question 24...
    I can do all things through Christ who strenghtens me

  6. #6
    Actuary.com - Level II Poster
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    Do you all think redo all the practice questions is helpful?

  7. #7
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    Thumbs up

    Yea i think it makes sense to redo practice questions because in doing so you can pin point what you need to review, what you doing from memory and not a clear understanding of the topic and will help build your speed etc.
    I can do all things through Christ who strenghtens me

  8. #8
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    #24 A borrower is repaying a loan with 10 annual payments of $1000. Half of the loan is repaid by the amortization method at 5% effective. The other half of the loan is repaid by teh sinking fund method in which the lender receives 5% effective on the investment and the sinking fund accumulates at 4% effective. Find the amount of the loan. Answer to the nearest dollar.

    The hard part was deciding is the question telling you that half the loan is figured each way, or half the payments. To get the answer in the back, use half the payments.

    500a10@5% = 3860.8675

    (500-(.05)(L))s10@4%=L (L being that portion of the loan
    L = 3751.2051

    Add the two up and get $7612 - which is close to $7610 in the back.

    I did it another way. I took Xa10@5%=1/2 L This gets an equation of L = 15.4435X.

    For the sinking fund portion, I put:

    (1000-X-(.05)(.5)L)s10@4%=1/2L. Insert 15.4435X for the L's and you'll get X= 492.7649. Put that in the original formula and you'll get $7610.

    (The first time I did it, I did not use 1/2L in the sinking fund portion, just L, and was getting it very wrong).

  9. #9
    Actuary.com - Level I Poster
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    Quote Originally Posted by YKT View Post
    Do you all think redo all the practice questions is helpful?
    It has definitely helped out my problem solving speed, and I have seen where I kept making the same mistakes. But now that I know what my mistakes were, I've been able to fix them. I now have 3 notebooks full of practice problems, and you just have to keep going.

    - Troy
    The Darth Vader Rule is great!

  10. #10
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    Quote Originally Posted by Troy_Harkin View Post
    It has definitely helped out my problem solving speed, and I have seen where I kept making the same mistakes. But now that I know what my mistakes were, I've been able to fix them. I now have 3 notebooks full of practice problems, and you just have to keep going.

    - Troy
    lol, yea, totally true, practice, practice, and pracitce, that's the way to beat any exam. but i have a problem of feeling "i have done enough, i have done enough" after i have done like "2-notebooks" of practice problems and start to feel good about myself. And then I start to relax, and i have to keep reminding myself how important the exam is and try to get motivated again

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