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Exam P - withOUT heavy mathematics background

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  • Exam P - withOUT heavy mathematics background

    I have a finance background and currently work in investment banking. I have passed the first CFA examination and my math background comprises 1 calc. course (no discussion of multivariable calc.) and 2 business statistics courses (which discuss plenty of probability material but without the use of calculus).

    Is it possible to pass exam P and exam FM through studying the ACTEX manuals?

    How many study hours would be necessary to pass Exam P (give a rough estimate)?

    Does anyone think that in order to pursue these exams I would absolutely need to return to college and take more calc.?

    I would like a thorough answer if possible...

    Kind regards

  • #2

    I am sorry to be the bearer of the bad news, but as I see it, the idea of seriously taking actuarial exams without learning all of calculus is, well, close to insane. You do not have to take classes, but you must, absolutely must learn three semesters of calculus.

    Krzys' Ostaszewski
    Want to know how to pass actuarial exams? Go to:


    • #3
      I'm also from a non-heavy math background so I plan on teaching myself Calculus over the summer for the P test in the fall. What books or learning materials would you recommend that cover the first 3 semesters of Calculus?


      • #4
        You may wish to try the Calculus Review Manual, written by Professor Sam Broverman, published by ACTEX Publications. You could use this manual to refresh your memory on what you did learn and identify those areas where further study is needed. The further study could be obtained via self-study using any good college level calculus textbook or an on-line course focused only on those areas where further learning is needed.

        The ACTEX Calculcus Review manual provides a comprehensive review of the prerequisite calculus knowledge which is assumed on the Society of Actuaries and Casualty Actuarial Society exams. The manual covers the topics of Integration, Differentiation, Sets, Functions, and Limits. It also contains a series of problem sets and solutions related to each topic.
        Sandi Lynn Scherer
        ACTEX Publications


        • #5

          Easy with the language.

          I think the backgrounds in combination would offer value added.

          Regarding the attachment..beware of the statistics which AIMR posts. There is a sample bias. Some of their stats only count people with 10 years of professional finance experience. Obviously AIMR will report high salarys for the benefit of its own cause.