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newbie questions - which study material to buy?

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  • newbie questions - which study material to buy?

    I recently decided to take exam FM/2 and had a couple of questions:

    (1) what book do you reccomend? As you probably know, there are 2 approved books:
    Theory of Interest (Second Edition), Kellison, and
    Mathematics of Investment and Credit (Third edition), Broverman

    I read (from actuary.com/forums) that the Broverman book is more beneficial than the other. What do you reccomend? Or, can I get away with just buying the Actex study notes? Or a combination of the two? What is your advice?

    (2) I have just started studying now (as of today) and am wondering if this is too unrealistic of a task, i.e. is there too much material to cram with about 1 1/2 months before the exam? I have set aside about 5 hrs/day to study up to the exam so I'm not terribly too worried. Is it possible? What do you think?

  • #2
    http://www.actuary.com/actuarial-dis...ults&pollid=10
    Last edited by admin; September 23 2005, 04:08 PM.
    FSA, MAAA, EA and CEO of Actuarial Study Materials - www.studymanuals.com

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    • #3
      Disclaimer: I already had taken an introductory finance class which discussed some of the key FM concepts such as present value and bonds but had no previous exposure to actuarial notation before starting to study with Kellison's Theory of Interest.

      I thought Kellison's book, though sometimes difficult to get through, served as a very good foundation for preparing for the Spring '05 FM exam. As you might have already read elsewhere, this was one of the "easiet" tests given in SOA history in terms of the overall passing percentage, but I felt very adequately prepared for it from: 1) my reading most of Kellison and doing selected problems I felt were appropriate; 2) working all the previous Interest Theory problems from past Course 2's I could find; and 3) scouring the web for more practice problems. I believe that with a thorough treatment and study of past exam questions along with Kellison's book, a pass is possible. Kellison is good for foundations; but if you can't work exam questions, it won't mean that much, so really learn how to do those.

      Perhaps using this text in conjunction with a study manual will help you see things clearer. I wish you the best.
      Last edited by .Godspeed.; September 23 2005, 01:00 PM.
      act justly. walk humbly. .

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      • #4
        Exam FM study materials

        Dear El_Torero:

        I post practice problems at this forum, and you can decide for yourself whether they do a good job preparing candidates for the exam FM. If you like them, consider my study manual available at: www.neas-seminars.com/registration/ (see: study aids for exam FM/2). I also teach an intensive review for exam FM/2 at Illinois State University including an exam-like test at the end of the review:
        www.math.ilstu.edu/actuary/prepcourses.html

        Good luck in your studies. Yours,
        Krzys' Ostaszewski


        Originally posted by El_Torero
        I recently decided to take exam FM/2 and had a couple of questions:

        (1) what book do you reccomend? As you probably know, there are 2 approved books:
        Theory of Interest (Second Edition), Kellison, and
        Mathematics of Investment and Credit (Third edition), Broverman

        I read (from actuary.com/forums) that the Broverman book is more beneficial than the other. What do you reccomend? Or, can I get away with just buying the Actex study notes? Or a combination of the two? What is your advice?

        (2) I have just started studying now (as of today) and am wondering if this is too unrealistic of a task, i.e. is there too much material to cram with about 1 1/2 months before the exam? I have set aside about 5 hrs/day to study up to the exam so I'm not terribly too worried. Is it possible? What do you think?
        Want to know how to pass actuarial exams? Go to: smartURL.it/pass

        Comment

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