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Changes in 2012 to 2/FM ??

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  • Changes in 2012 to 2/FM ??

    I'm happy in my current career, but longer term being an actuary might be for me… So I'm in no rush and was planning on testing the waters with a 2/FM exam spring 2012. Was thinking of getting books:

    Mathematical Interest Theory by Vaaler & Daniel
    Derivatives Markets by McDonald

    I like how Derivatives markets also satisfies the syllabus for the MFE exam as well. Does anyone know if changes are in the works, more specically these books should still be (mostly) valid for the 2012 exam, per syllabus http://www.beanactuary.org/exams/syl...2-exam-fm.pdf?

    Early 2012 will likely buy the 2/FM Actex 2012 study manual to complement the above two books and studying conducted during 2011.

    Good or bad plan? Comments anyone? Thanks.

  • #2
    I never purchased the textbooks for actuarial exams. It seems pretty pointless to me, since study manuals summarize the material from the texts. Having information and then a summary of information seems a little superfluous to me. The only point would be more practice problems.

    Regardless, I highly highly doubt there will be any significant syllabus changes. The only exam the SOA has mentioned a significant change will be occurring in is MLC. I didn't use the DM textbook for MFE either - I used ASM manual.

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    • #3
      Originally posted by NBran View Post
      I never purchased the textbooks for actuarial exams. It seems pretty pointless to me, since study manuals summarize the material from the texts. Having information and then a summary of information seems a little superfluous to me. The only point would be more practice problems.

      Regardless, I highly highly doubt there will be any significant syllabus changes. The only exam the SOA has mentioned a significant change will be occurring in is MLC. I didn't use the DM textbook for MFE either - I used ASM manual.
      Hi NBran - Thanks for your response.

      Do you (or anyone) know if Actex updates their material every year? I assumed next spring they would have a 2012 edition only because I see "new books" 2011 edition currently.

      I hear good thing about Actex, does Actex help create the exams?

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      • #4
        Originally posted by csx1970 View Post
        Hi NBran - Thanks for your response.

        Do you (or anyone) know if Actex updates their material every year? I assumed next spring they would have a 2012 edition only because I see "new books" 2011 edition currently.

        I hear good thing about Actex, does Actex help create the exams?
        No. These companies that produce manuals do not help create the exams. They base their manual material from the required readings from the texts on the syllabus and use questions that were previously on released exams or part of the sample questions. They also create their own questions following the formatting/style of the exam. I cannot speak for Actex, but ASM generally releases new manuals once per year. The new editions sometimes change the explanations in certain sections or add more problems/practice exams and fix errors from earlier versions.

        The questions for exams are created by committees that are largely comprised of volunteers.

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