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Thread: What should i do!?

  1. #1
    Actuary.com - Level I Poster
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    What should i do!?

    Hey guys I need some advice on what I should do, I am currently attending UC Merced as an applied math/econ student. I applied to UCSB for their actuarial science program and I got in, but the thing is that at UCM I am on track to graduate by next year so id be able to get a 4 year in 3 years. Now I know that UCSB has an excellent Actuary program but is it worth transferring and postponing my graduation date? I know that at UCSB they would be able to prepare me a lot better for the exams. Another question I have is how hard are the preliminary exams? would I be able to study for them on my own? Please help!
    Thanks

  2. #2
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    Quote Originally Posted by tennisplayer23 View Post
    Hey guys I need some advice on what I should do, I am currently attending UC Merced as an applied math/econ student. I applied to UCSB for their actuarial science program and I got in, but the thing is that at UCM I am on track to graduate by next year so id be able to get a 4 year in 3 years. Now I know that UCSB has an excellent Actuary program but is it worth transferring and postponing my graduation date? I know that at UCSB they would be able to prepare me a lot better for the exams. Another question I have is how hard are the preliminary exams? would I be able to study for them on my own? Please help!
    Thanks
    Since you're in applied math, preparing for the exams on your own is doable. I passed all five (P/1, FM/2, MLC, C/4, MFE/3F) in roughly a year and a half while working full-time. The consensus is that actuarial school programs take you nowhere in the US. If you read the job ads, you can see that the requirements are in terms of SOA/CAS designations or # of exams; graduating from an actuarial program doesn't give you any more points than from a university degree on heavy metal.

    The preliminary exams are hard. You might be familiar with much of the material, but these exams demand proficiency - given the time constraints.

  3. #3
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    Quote Originally Posted by Iņaki Viggers View Post
    Since you're in applied math, preparing for the exams on your own is doable. I passed all five (P/1, FM/2, MLC, C/4, MFE/3F) in roughly a year and a half while working full-time. The consensus is that actuarial school programs take you nowhere in the US. If you read the job ads, you can see that the requirements are in terms of SOA/CAS designations or # of exams; graduating from an actuarial program doesn't give you any more points than from a university degree on heavy metal.

    The preliminary exams are hard. You might be familiar with much of the material, but these exams demand proficiency - given the time constraints.
    ''' five exams in a year and a half, how long did you spend studying for each exam?

    Yeah so I guess I should stay at UCM and graduate early then. The thing is though, in most of the math classes I have taken they seem to deal with more of the applications in the physical sciences, and like right now I'm taking complex analysis and PDE's, is any of this type of math actually related to the exams or real actuarial work in general? Cause it seems like the exams are based mostly on stats and prob.

  4. #4
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    Quote Originally Posted by tennisplayer23 View Post
    ''' five exams in a year and a half, how long did you spend studying for each exam?

    Yeah so I guess I should stay at UCM and graduate early then. The thing is though, in most of the math classes I have taken they seem to deal with more of the applications in the physical sciences, and like right now I'm taking complex analysis and PDE's, is any of this type of math actually related to the exams or real actuarial work in general? Cause it seems like the exams are based mostly on stats and prob.
    Didn't keep track, but it varied. There were six weeks between P/1 and FM/2. I certainly had more background on (deterministic) financial mathematics than on other topics. C/4 took me about 4 months, maybe longer. My sequence was P -> FM -> MLC and MFE (only passed MLC) -> C -> MFE.

    Actuary is definitely more about probability & statistics than physics/engineering (also for the exams). There's more chance to apply PDEs in quant positions (as in investment banking).

  5. #5
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    Quote Originally Posted by Iņaki Viggers View Post
    Didn't keep track, but it varied. There were six weeks between P/1 and FM/2. I certainly had more background on (deterministic) financial mathematics than on other topics. C/4 took me about 4 months, maybe longer. My sequence was P -> FM -> MLC and MFE (only passed MLC) -> C -> MFE.

    Actuary is definitely more about probability & statistics than physics/engineering (also for the exams). There's more chance to apply PDEs in quant positions (as in investment banking).
    Damn that's pretty crazy, seems like a lot of studying. Well I am finishing up second year of college and since I started with a year already done, I will be graduating may 2016, so should I study for the exams while in college or wait until I graduate?

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