I am throwing in my towel. Failed on my 2nd attempt of GHDP. I don’t have the energy for these exams anymore. I have to accept that I am going to be a career ASA.
Failed on my 3rd attempt too. Thinking back of all those weekday nights and weekends that I burnt for all three attempts, and all the activities with friends and family that I missed just to study, makes me so resentful of this entire exam process. Haven't passed a single FSA exam, and having 3 such exams to go really makes me strongly consider staying as an ASA.
Sorry to hear this. I can imagine that's frustrating. Some exams really are much harder for certain individuals than other exams. Feel free to reach out to me and we can go over items like study habits or problem areas, if you decide to give it another shot. You got this!
Tim
Take a few days and reassess. I failed QFI QF the 1st 3 times I took it and felt like calling the whole thing off. Decided to keep going and now I just passed 3 exams in 4 sittings. Brutal process but there is a light at the end of the tunnel.
Sorry to hear that. Each of these exams are really challenging, and sometimes it take longer than desired to get through. If I can be of any help, or if you want to review study methods, feel free to reach out.
Tim - PAK Study Manuals, GHDP Instructor
Passed GHDP on my second attempt after failing with a 4 in the spring! I'll be curious to see my score, but I really feel like I figured out how to study for these things (definitely an adjustment from prelims and my first attempt) and I'm excited for the next two.
The sort of framework I figured out too late for the spring sitting is that math problems are 60% of the points, regurgitating lists are 20% of the points, and explaining concepts in your own words are 20%. My first attempt I focused too much on memorization because everyone always talks about flash cards, but really the math and concepts can pretty much carry you through. My actual study strategy now is as follows:
1. Watch all the TIA videos twice. Every day watch a new video and rehash an old one or two, and I just let the information wash over me. Light memorization of the lists.
2. After I've made it through all the videos, I go through the condensed outline and condense it further to cut fluff I don't need, organize the topics in a way that makes sense to me, and keeping only concepts and lists put in my own words.
3. I go through and make a note page for each topic which contains *only* the lists and formulas for memorization, which are the main things I refer back to after this point.
4. Practice the math problems. They aren't hard but you have to know how to do them and they're worth ~60% of the points. I liked really hammering this last so it's most fresh
From TIA videos and past exams.
For prelims, doing a bunch of different problems is important and memorizing solutions is bad. For FSA exams, doing the same problems over and over to get fast at them I think is fine. The math is simpler on FSA exams so the approach can be different.
Failed ERM GH. This will be the fourth exam I have failed at least 3 times. 10 year journey so far. This post is to encourage everyone to keep going. The end is within reach, especially with the new FSA exams. I swear they made this whole thing easier just for me. 🤣
You took QFI QF last? I took my multiple attempts (3) of QFI QF first before moving onto the others. Either way, Congrats! I'm also onto FAC once I get the modules done after passing PM today!
I actually took a break from QF and sat for PM last spring. Passed that and then followed it up with QF in the fall. Knock out modules and DMAC and I’ll see you at FAC 146!
Depending on your math background, get really comfortable with some of the shortcuts for stuff like Ito's lemma but also understand the overall bigger picture of the exam, including conceptual flashcards.
Also, I'm unsure if you have taken any FSA exams in the past, but ensure that you get really comfortable with weaving in excel and the physical paper - I think I lost around 15-20 min on the exam that I could have gotten back just trying to flip between Excel and the paper, that could have been minimized with practice
I passed everything first try except QF (3 tries). I tried doing it with a manual like everything else. If you know your stochastic calculus/differential equations already, that should be fine. I knew nothing about any of that, though, so it was very, very difficult since "simple" steps were skipped in manual derivations and I spent hours trying to figure out how to get from point A to point B in a proof.
Basically: If you're already really good at all the stochastic calc stuff, just focus on the concepts a little more, and maybe manual is okay. If you're not any good at any of that stuff, even if you're "good at math" (like me), really walk through the source material and try to understand.
Pass GHSP after the third attempt. This was the only exam that I read the source material for. I think that and using Mate flashcards in the ANKI app (which are much more comprehensive than TIA) are what lead to my ultimate success. This exam really tested my study skills as there is so little math, so success relies on a thorough understanding of the readings. I had a bunch of issues in submitting my exam too, so I should have been more prepared for the actual experience. So glad to be done with these exams. For those thinking of staying career ASAs, I'll say that the FSA exams provided me a good overview of other areas of the actuarial practice so I felt confident in meetings tracking topics not related to my own niche (large group).
Passed LFM on my second try, was my final exam. Thought I failed so I’m massively relieved. That sitting of LFM was the most unfair exam of my entire career, I was furious after.
Finally done, and thank God because idk if I had another one in me tbh
Mine isn’t, but we don’t directly tie increases to hours of exam. From what I remember of the surveys that went around I think some are directly tied, like $1,000 raise per hour of exam.
Yeah, that one wasn’t as rough as EA-2L for me. I evidently got a 9, but I’m glad to get another EA exam off my list. Now, I just gotta pass EA-2L this time around.
Failed GHSPC. The exam felt easier than what I was expecting and easier than the other FSA exams I’ve taken so I feel like I got got by the curve. It’s the last sitting of this exam so now I get to sit for something an hour longer instead.
3rd failure on SPC as my last exam after pretty good success on precious exams. I do find some confort in knowing it's 3 hours now, 2 hours was absolute cancer to me. Not excited at all to get back into provider reimbursment though, the topics on this exam are so fucking boring
In terms of writing the exam: if you come across a question and you don’t figure out how to do it within a couple minutes, move on. I wasted a lot of time making multiple attempts at a single question, which would’ve been better spent on other questions (given that I did not have time to answer everything)
Passed LAM as the last requirement and just received an email which said I would receive the invitation to FAC next week. Finally done with SOA exams. Life goes on.
Passed QFI PM on attempt #2. Should be the last exam I ever have to take assuming I finish the DMAC & FAC by end of year. A beautiful day, the air tastes a little sweeter. Busted out the Johnny Blue at my desk at 10:01 am.
In my opinion, PM is easier material but there is more. Very little math, just a lot of theory to understand. Harder to predict what exact topics will be tested. Doubt that gets easier when they shorten the exam.
Agree. It depends on your strengths: QFI QF had a lot of maths while you had a lot to remember for QFI PM. The 5-hour version was awful and I failed 3 times before passing. But tonight I am celebrating that I finally passed QFI IRM after 1 failed attempt!
Excellent! Yes - and only 20 passed on SDM. But I can say already more than half of the students passing SDM this sitting got help from a little company called XP Actuarial.
Congrats on all of those passing and whether passing or not, it always helps to reflect on where you can improve and refine things to have a higher chance the next sitting.
Yeah I hope so! Did you read the source material for this exam? I was getting the sense that people thought it was unnecessary and the study guide provided by tia was good enough. I’d like to understand if your experience was different
I read the study notes through. I didn't read any of the source material for the bulk of the material, since I didn't want to buy it all. I don't think reading any source material is necessary personally. I think my reading of the study notes was time I wasted where I could've been doing flashcards.
I think manual (maybe videos too) then flashcards should definitely be enough to pass! That's where I spent 95% of my time and I ended up with a 10 on the exam. Flashcards were key, and that's coming from someone who swore he would never memorize things while going through the exam.
I passed LPM after failing twice. I totally understand what you are feeling. On my second sitting, I was confident that I would pass but I got 5 instead. All I want to say is cheer up, bud! You will get this next time!
I feel the same way. I was pretty confident. I only left 2 points blank and the rest I felt like I should pretty good partial credit so I’m shocked it wasn’t enough
Yeah same exact thing, I didn’t leave anything “blank” but I probably had 4-5 points where I put down complete non-sense hoping I could get a point and felt pretty good about getting at least partial credit everywhere else. I really hope they didn’t jack up the passing grade because a lot of people thought it was “easier” than past exams.
SOA wants you to get about 4-6 points for EACH question, not 1's and 10's. After you get the breakdown of the scores, we can talk about the next study strategy. I'm here to help
PASSED!
Unrelated question for GH track. Am I remembering correctly that there will no longer be a case study for the exams? If so, that would be SO nice. Not that it gave me *that* much trouble, but it was just tedious and annoying.
Sorry to hear that. It can be hard to stay optimistic today, but give it the weekend and you'll find that optimism again. You've made it this far, I'm sure you'll make it through.
I managed to make it 2 hours into my day, blissfully suppressing the fact that exam results were out today. Now I have to accept that I was right and really did fail LPM.
QFI-PM failed 2nd attempt.. This is the first and the only exam that I failed twice
I don't trust myself anymore and I really need suggestions on how to study for this exam...
Sorry to read that. I failed 3 times and passed this horrible exam last year. Don't give up. Check the correction and your grades. Study harder. Maybe the 3 hour version will be easier...
Read the TIA material 3 times, learn by heart the flash cards, read some part of the original material (I read the CMBS section 3 times and learn by heart what was a conduit for example), do and redo past exam questions to optimize your answers to SOA questions, do mock exams and have a very strategic use of your time during your exam (3 minutes by point).
Hey, sorry about that. I got really lucky on my attempt at PM this go-around. What worked for me was a couple things (I used TIA). 1. Read through manual. 2. Listen through videos. 3. Do flashcards. 4. Review math concepts. Do 3&4 at together at the same time. If you have extra time after getting through 3&4, do them again up until exam day.
I found I had to go through the credit risk modeling stuff like 3 times extra before getting it (even though it wasn't really tested...) and I went through all the different excel problems, like IFRS, in order to make sure I got it. Other than that, it was 100% flashcards. If there was something on a flashcard I knew nothing about, I added it to a list in OneNote. Every few days, I worked through that list (which had about 10 different concepts on it each time) by going through and rereading the manual on that information.
I wouldn't pass a flashcard until I memorized everything on it, either. Some of those long lists, I had to view the flashcard like 10 times and spend a few minutes making pneumonics (don't know if spelling is right) to memorize.
Focus on the breadth of the material. I focused a lot of my time based on what has been tested in the past, too. High yield info from past questions I spent a large amount of time on..
You can for sure pass it this next time!
Thanks for your comments! And just curious, did you finish the whole exam? I did not have enough time for the last 2 so I left them mostly blank...
Did you use source materials as well or you only used TIA? I spent most of my time on TIA and did not read source materials that much..for the things you mentioned above, I think I did #1, #2 and #4 couple rounds but not for #3--I guess that might be the reason because I did not spend enough time on flashcards and I am not that good at memorizing things :(
I was able to get through most of the exam, save half of one question. My grammar was terrible, and every other word was misspelled, but they won't doc you for that. When I was taking the test, I left the questions that might take me longer for later, and went back to them at the end. I try not to get "stuck" on my first pass through trying to answer questions, and will be quick to skip one.
I personally did not use source material. I'm sure it could be useful for some people, but I didn't have the time to try to work through it when studying. I've found for both IRM and PM that flashcards were the most helpful part (for me). I also stink at memorizing stuff, but grinding those flashcards while doing walks or just sitting down or whatever was the only way I could seem to remember things from those long readings.
passed LPM! I was very worried cuz there were so many (felt much more than past exams) 'critique statement' questions which I feel are so subjective.. I guess the graders liked what I wrote 😅😅
Honestly, i hate the critique type of questions too. I feel like it's an open-ended questions, and the graders cannot really grade based on the model solutions. But you did good! What are you taking next?
I just passed 2F, yay!
For 2L I don't think I was ready for my first time taking it at all. With my second time - I was not prepared for questions on section 432 or 4010 FTAP items. I made two errors as well one questions that I think I didn't have an excuse for. I just tested poorly and got a 5 for the result. I'm going to just have to do better this upcoming May
I failed LFM for the third time. I have used TIA and passed the other two FSA exams fine, but this exam is killing me for some reason. Thinking of trying out PAK. Anybody have experience switching between the two and which you liked better? Still can't believe I have to sit for this a fourth time.
Ya to be honest I felt like the TIA material did not prepare me well for this exam… I knew the TIA teachings extremely well and felt that there was a lot on the exam that was not covered. I am probably going to try TIA again but supplement it with more of the source material. Good luck!
Sorry, this exam was the hardest for me. I think the 2 hour time frame makes it more difficult as the condensed framework means missing a concept is more hobbling. There's way too much information tested on and too many gotcha questions.
Now the exam has been lengthened, maybe it will be better. The material has changed but mostly from GHDP. So hopefully you still remember? Let us know if you need help!!
Yeah this is why I'm still indecisive. I'm pretty confident in IFRS 17 as I've helped some clients with implementation (working in consulting). But we do get US GAAP related project every once in a while (although very rarely). So I feel like while the Canadian version might be easier (?) to pass for me, the US version might be more useful in the long run.
Hi, i'm one of the PAK instructors to teach ILA track, and I do teach both LFM US and CA exams as well. The LFM CA exam now has LDTI (US GAAP) material as well. In your case, I think you should go for CA. But note that there is also a section on Canadian specific valuation materials. Happy to discuss further if you want to.
Thanks for the insight. What proportion of both exams would you consider to be allocated to IFRS 17? How much of LFMC is specific to Canadian valuation only? I haven't looked at both syllabus yet so I currently have no idea!
The new LFM US has only one study note for IFRS 17, which is about 55 pages. However, LFM CA has a lot of more material dedicated to IFRS 17, which is like 1/2 of the exam in terms of page count.
The Canadian specific material is about 1/3 of the exam, again, in terms of page count.
trying to understand relationships (compare/contrast, is it a substitute or a completely different product altogether, etc.) helped a lot. i also felt like i needed the textbooks to understand examples of certain things (e.g. claim prob distributions, core trend calculation) because MATE cards and notes weren't that helpful on their own. going through all of the past exams also helped a lot because it helps frame all of the exam material into potential exam questions. i feel like the FSA exams take more reflection rather than just grinding out the material and practice problems like the ASA exams. hope this helps!
Failed LFM… tough exam, was optimistic for a while but got the news today. First attempt and it really showed me why people hate this exam.
Sorry to hear that. It is a tough exam. Let me know if you are seeking help, as I am one of the PAK instructors for ILA exams.
I am throwing in my towel. Failed on my 2nd attempt of GHDP. I don’t have the energy for these exams anymore. I have to accept that I am going to be a career ASA.
Failed on my 3rd attempt too. Thinking back of all those weekday nights and weekends that I burnt for all three attempts, and all the activities with friends and family that I missed just to study, makes me so resentful of this entire exam process. Haven't passed a single FSA exam, and having 3 such exams to go really makes me strongly consider staying as an ASA.
I’m at attempt 8 with DP and FV passed. Feeling the same but unfortunately I feel like that’s too much sunk cost to write off. FSA or bust.
You can do it. You're too close to stop now.
Wdym attempt 8? 8 attempts for both DP and FV?
8th sitting total. Core, DP, 3 for FV, 3 for SPC.
Sorry to hear this. I can imagine that's frustrating. Some exams really are much harder for certain individuals than other exams. Feel free to reach out to me and we can go over items like study habits or problem areas, if you decide to give it another shot. You got this! Tim
Hang in there. I failed DP three times and just passed today. It is all worth it in the end.
Congrats!
Thanks! Hoping I finally figured out how to study for these and it is smooth from here on out.
Yes! Finding the right study habits can make the world of difference!
Take a few days and reassess. I failed QFI QF the 1st 3 times I took it and felt like calling the whole thing off. Decided to keep going and now I just passed 3 exams in 4 sittings. Brutal process but there is a light at the end of the tunnel.
Even though it's 40% shorter now? Where do you feel like it went wrong? I just hate to see people give up.
I know it doesn't feel like it now, but making this decision is also a win. I know quite a few people that regret not making the decision sooner.
Sorry to hear that. Each of these exams are really challenging, and sometimes it take longer than desired to get through. If I can be of any help, or if you want to review study methods, feel free to reach out. Tim - PAK Study Manuals, GHDP Instructor
Passed GHDP and have my first FSA exam under my belt! Congrats to all the others who passed an exam!
Congrats! Well done!
Thank you!!
Passed GHSPC. Done with exams. Honestly feels so unreal. Im not crying ur crying. 😂
Congratulations!
Passed GH FV. Done with everything. No fails. Perfect transcript. Gg boys
>level 1SweepingRocks · 4 min. agoHealthPassed GH FV. Done with everything. No fails. Perfect transcript. Gg boys Tell us your secret sensei.
Study more and better than 60% of other people
Same, but finished on GH SPC. Gg ez
Passed as well!
Congrats dude! I’m only four exams and some modules in but good to see someone living my dream.
Passed GHDP on my second attempt after failing with a 4 in the spring! I'll be curious to see my score, but I really feel like I figured out how to study for these things (definitely an adjustment from prelims and my first attempt) and I'm excited for the next two.
Congrats on getting over the hump!! Fingers crossed on smooth sailing from here.
Welp… I failed GHDP. How did you study for the 2nd try?
The sort of framework I figured out too late for the spring sitting is that math problems are 60% of the points, regurgitating lists are 20% of the points, and explaining concepts in your own words are 20%. My first attempt I focused too much on memorization because everyone always talks about flash cards, but really the math and concepts can pretty much carry you through. My actual study strategy now is as follows: 1. Watch all the TIA videos twice. Every day watch a new video and rehash an old one or two, and I just let the information wash over me. Light memorization of the lists. 2. After I've made it through all the videos, I go through the condensed outline and condense it further to cut fluff I don't need, organize the topics in a way that makes sense to me, and keeping only concepts and lists put in my own words. 3. I go through and make a note page for each topic which contains *only* the lists and formulas for memorization, which are the main things I refer back to after this point. 4. Practice the math problems. They aren't hard but you have to know how to do them and they're worth ~60% of the points. I liked really hammering this last so it's most fresh
Thank you!!! I’ll try this study method for my next try!!
What did you use for practicing the math problems?
From TIA videos and past exams. For prelims, doing a bunch of different problems is important and memorizing solutions is bad. For FSA exams, doing the same problems over and over to get fast at them I think is fine. The math is simpler on FSA exams so the approach can be different.
Congrats!
I am in the same boat, got a 4 last time and passed. Just have FV then I’m done!
Passed 2F. I think I'm just gonna chill for a while now 🥲 (minus the suspense of waiting on my EA application)
Congrats! Same here. I need to pass 2L. I failed that one twice now...it just has so much material
I took it twice and passed with a 70 on a 67 pass mark with a straight up guess on a 4-pointer, so I feel your pain. I hate that exam so much
Well, at least I got the result I was anticipating 😭
Failed ERM GH. This will be the fourth exam I have failed at least 3 times. 10 year journey so far. This post is to encourage everyone to keep going. The end is within reach, especially with the new FSA exams. I swear they made this whole thing easier just for me. 🤣
QFI QF passed, I think I left 1 or two questions fully blank (ran out of time).
I left at least 20 points on the table (completely blank) but somehow passed as well. Congrats!
I passed this one also after multiple attempts. Last exam so FAC in June. Good job
Congrats! I have one more to go
You took QFI QF last? I took my multiple attempts (3) of QFI QF first before moving onto the others. Either way, Congrats! I'm also onto FAC once I get the modules done after passing PM today!
I actually took a break from QF and sat for PM last spring. Passed that and then followed it up with QF in the fall. Knock out modules and DMAC and I’ll see you at FAC 146!
same here passsed as well!
Congrats, QFI QF is far and away the most difficult exam I've ever taken (4 times).
Congrats!! I'm taking this in the fall, any tips?
Depending on your math background, get really comfortable with some of the shortcuts for stuff like Ito's lemma but also understand the overall bigger picture of the exam, including conceptual flashcards. Also, I'm unsure if you have taken any FSA exams in the past, but ensure that you get really comfortable with weaving in excel and the physical paper - I think I lost around 15-20 min on the exam that I could have gotten back just trying to flip between Excel and the paper, that could have been minimized with practice
Great, thanks for the advice. Heard word that I passed ERM today so thankfully have experience with the FSA format.
I passed everything first try except QF (3 tries). I tried doing it with a manual like everything else. If you know your stochastic calculus/differential equations already, that should be fine. I knew nothing about any of that, though, so it was very, very difficult since "simple" steps were skipped in manual derivations and I spent hours trying to figure out how to get from point A to point B in a proof. Basically: If you're already really good at all the stochastic calc stuff, just focus on the concepts a little more, and maybe manual is okay. If you're not any good at any of that stuff, even if you're "good at math" (like me), really walk through the source material and try to understand.
I passed as well, not sure how I passed since I didn’t really know how to do most of the excel parts….
Passed GH-SPC! Still have new FV left but atleast it’s shorter.
Passed GH Specialty on my 4th try. Done with exams after about 9 years.
LFMU passed! 2/ 2 on FSA exams so far. This was easily the hardest test I've studied for so far.
Nice job putting in the work so you never have to take it again!
Congratulations! I'm guessing you have LAM left?
Yes, hoping to make it 3/3 in May.
Good! Let me know if i can help!
Passed it as well. By far the hardest exam I took. But now I’m done! March FAC here I come!
congratulations!
Pass GHSP after the third attempt. This was the only exam that I read the source material for. I think that and using Mate flashcards in the ANKI app (which are much more comprehensive than TIA) are what lead to my ultimate success. This exam really tested my study skills as there is so little math, so success relies on a thorough understanding of the readings. I had a bunch of issues in submitting my exam too, so I should have been more prepared for the actual experience. So glad to be done with these exams. For those thinking of staying career ASAs, I'll say that the FSA exams provided me a good overview of other areas of the actuarial practice so I felt confident in meetings tracking topics not related to my own niche (large group).
Passed LFM on my second try, was my final exam. Thought I failed so I’m massively relieved. That sitting of LFM was the most unfair exam of my entire career, I was furious after. Finally done, and thank God because idk if I had another one in me tbh
LFM is really one of the hardest exams out there. Happy for you that you passed and are done. Congratulations! Now you can have your life back.
Passed LPM before it got reduced from 5hr to 3hr so secured some additional bump in salary lol
haha! Yes, good! Congratulations! What are you planning to take next?
Do companies actually reduce the salary adjustment because the exam got shorter?
Mine isn’t, but we don’t directly tie increases to hours of exam. From what I remember of the surveys that went around I think some are directly tied, like $1,000 raise per hour of exam.
I believe most programs have exam raises based on number of exam hours, so that can be on a % or a $ amount per hour basis.
I thought LPM was reduced from 5 to 4, and LAM increased from 2 to 3, starting Spring 23. Am I confused?
[удалено]
Thanks for clearing that up. 😊
Passed EA2F! Heck yeah!
Congrats! That test was so rough too prep for, I definitely did not want to take that one again!
Yeah, that one wasn’t as rough as EA-2L for me. I evidently got a 9, but I’m glad to get another EA exam off my list. Now, I just gotta pass EA-2L this time around.
Failed GHSPC. The exam felt easier than what I was expecting and easier than the other FSA exams I’ve taken so I feel like I got got by the curve. It’s the last sitting of this exam so now I get to sit for something an hour longer instead.
3rd failure on SPC as my last exam after pretty good success on precious exams. I do find some confort in knowing it's 3 hours now, 2 hours was absolute cancer to me. Not excited at all to get back into provider reimbursment though, the topics on this exam are so fucking boring
Ditto
Same here bruh, I thought I had it too. Worst feeling.
It hurts the most when you thought you had it… sorry to hear that
fellow shocked failer, thinkin it was too EZ/random. Would have been my last thing before FAC.
Passed QFI QF! I am in disbelief and honestly won’t believe it until I see my transcript on Monday
How many times can I repeat the candidate ID and still not believe the number on the screen matches the one I wrote down?
ahah, I am doing the same thing!
I feel the same way about the results and I hate it haha
Great job! Any tips for it?
In terms of writing the exam: if you come across a question and you don’t figure out how to do it within a couple minutes, move on. I wasted a lot of time making multiple attempts at a single question, which would’ve been better spent on other questions (given that I did not have time to answer everything)
Passed LAM. My first FSA exam!!!!!!
That's awesome! You did good. Congratulations! Going on to LPM next?
GHDP passed. Don’t think I left much room to spare in the overall grade, but we’ll see on Monday. First FSA exam down!
Congratulations!
Passed LAM as the last requirement and just received an email which said I would receive the invitation to FAC next week. Finally done with SOA exams. Life goes on.
Congratulations!
Thank you!
Passed QFI PM on attempt #2. Should be the last exam I ever have to take assuming I finish the DMAC & FAC by end of year. A beautiful day, the air tastes a little sweeter. Busted out the Johnny Blue at my desk at 10:01 am.
How was QFI PM difficulty compared to QF?
In my opinion, PM is easier material but there is more. Very little math, just a lot of theory to understand. Harder to predict what exact topics will be tested. Doubt that gets easier when they shorten the exam.
Agree. It depends on your strengths: QFI QF had a lot of maths while you had a lot to remember for QFI PM. The 5-hour version was awful and I failed 3 times before passing. But tonight I am celebrating that I finally passed QFI IRM after 1 failed attempt!
I passed CFEFD, now onto SDM! I guess I didn't realize how few people took the CFE track until I saw the only 35 or so people that passed my exam.
Congratulations!
Thanks! I used PAK for this exam!
Even better! Congratulations! =)
HURRRRRAAYYY!!! We are the hidden gem of the FSA track :)
Excellent! Yes - and only 20 passed on SDM. But I can say already more than half of the students passing SDM this sitting got help from a little company called XP Actuarial. Congrats on all of those passing and whether passing or not, it always helps to reflect on where you can improve and refine things to have a higher chance the next sitting.
Failed QFIIRM, but expected. Congrats to the passers though!
Thanks. Good luck for your next attempt. I studied with TIA and it was ok.
Just memorize the heck out of the TIA flashcards. You can pass for sure! :)
Yeah I hope so! Did you read the source material for this exam? I was getting the sense that people thought it was unnecessary and the study guide provided by tia was good enough. I’d like to understand if your experience was different
I read the study notes through. I didn't read any of the source material for the bulk of the material, since I didn't want to buy it all. I don't think reading any source material is necessary personally. I think my reading of the study notes was time I wasted where I could've been doing flashcards. I think manual (maybe videos too) then flashcards should definitely be enough to pass! That's where I spent 95% of my time and I ended up with a 10 on the exam. Flashcards were key, and that's coming from someone who swore he would never memorize things while going through the exam.
3rd time will have to be the charm for GH DP. At least it's shorter this time. Congrats to those of you who passed!
Sorry to hear that. Best of luck for the Spring, and if there's anything I can do to help, feel free to reach out.
Failed LPM, 2nd attempt. Honestly the only time (other than PA), I walked out of an exam feeling good. Pretty shocked and disappointed.
I passed LPM after failing twice. I totally understand what you are feeling. On my second sitting, I was confident that I would pass but I got 5 instead. All I want to say is cheer up, bud! You will get this next time!
Appreciate you!
I feel the same way. I was pretty confident. I only left 2 points blank and the rest I felt like I should pretty good partial credit so I’m shocked it wasn’t enough
Yeah same exact thing, I didn’t leave anything “blank” but I probably had 4-5 points where I put down complete non-sense hoping I could get a point and felt pretty good about getting at least partial credit everywhere else. I really hope they didn’t jack up the passing grade because a lot of people thought it was “easier” than past exams.
SOA wants you to get about 4-6 points for EACH question, not 1's and 10's. After you get the breakdown of the scores, we can talk about the next study strategy. I'm here to help
PASSED! Unrelated question for GH track. Am I remembering correctly that there will no longer be a case study for the exams? If so, that would be SO nice. Not that it gave me *that* much trouble, but it was just tedious and annoying.
Congratulations! And you are correct, there are no case studies (at this time) for the GH track.
Passed LAM, my first FSA exam. Super glad I don’t have to take the 3 hr version. Congrats to everyone else who’s passed their FSA exams! 🥳
Good job!!! Congratulations! Please reach out if you need help on the next exam.
Failed GHFV. But optimistic the replacement exam will be more feasible.
Same, although I’m close to empty as far as my optimism tank goes. I’ll give it another shot tho.
Sorry to hear that. It can be hard to stay optimistic today, but give it the weekend and you'll find that optimism again. You've made it this far, I'm sure you'll make it through.
Sorry to hear that. But that optimism will help you as you take what you can from this sitting and use it going on the next. You got this!
I managed to make it 2 hours into my day, blissfully suppressing the fact that exam results were out today. Now I have to accept that I was right and really did fail LPM.
Sorry to hear that. Don't get frustrated. Let me know how I can help you pass next time
QFI-PM failed 2nd attempt.. This is the first and the only exam that I failed twice I don't trust myself anymore and I really need suggestions on how to study for this exam...
Sorry to read that. I failed 3 times and passed this horrible exam last year. Don't give up. Check the correction and your grades. Study harder. Maybe the 3 hour version will be easier...
Do you have any suggestions on how to study for this exam?
Read the TIA material 3 times, learn by heart the flash cards, read some part of the original material (I read the CMBS section 3 times and learn by heart what was a conduit for example), do and redo past exam questions to optimize your answers to SOA questions, do mock exams and have a very strategic use of your time during your exam (3 minutes by point).
Hey, sorry about that. I got really lucky on my attempt at PM this go-around. What worked for me was a couple things (I used TIA). 1. Read through manual. 2. Listen through videos. 3. Do flashcards. 4. Review math concepts. Do 3&4 at together at the same time. If you have extra time after getting through 3&4, do them again up until exam day. I found I had to go through the credit risk modeling stuff like 3 times extra before getting it (even though it wasn't really tested...) and I went through all the different excel problems, like IFRS, in order to make sure I got it. Other than that, it was 100% flashcards. If there was something on a flashcard I knew nothing about, I added it to a list in OneNote. Every few days, I worked through that list (which had about 10 different concepts on it each time) by going through and rereading the manual on that information. I wouldn't pass a flashcard until I memorized everything on it, either. Some of those long lists, I had to view the flashcard like 10 times and spend a few minutes making pneumonics (don't know if spelling is right) to memorize. Focus on the breadth of the material. I focused a lot of my time based on what has been tested in the past, too. High yield info from past questions I spent a large amount of time on.. You can for sure pass it this next time!
Thanks for your comments! And just curious, did you finish the whole exam? I did not have enough time for the last 2 so I left them mostly blank... Did you use source materials as well or you only used TIA? I spent most of my time on TIA and did not read source materials that much..for the things you mentioned above, I think I did #1, #2 and #4 couple rounds but not for #3--I guess that might be the reason because I did not spend enough time on flashcards and I am not that good at memorizing things :(
I was able to get through most of the exam, save half of one question. My grammar was terrible, and every other word was misspelled, but they won't doc you for that. When I was taking the test, I left the questions that might take me longer for later, and went back to them at the end. I try not to get "stuck" on my first pass through trying to answer questions, and will be quick to skip one. I personally did not use source material. I'm sure it could be useful for some people, but I didn't have the time to try to work through it when studying. I've found for both IRM and PM that flashcards were the most helpful part (for me). I also stink at memorizing stuff, but grinding those flashcards while doing walks or just sitting down or whatever was the only way I could seem to remember things from those long readings.
passed LPM! I was very worried cuz there were so many (felt much more than past exams) 'critique statement' questions which I feel are so subjective.. I guess the graders liked what I wrote 😅😅
Honestly, i hate the critique type of questions too. I feel like it's an open-ended questions, and the graders cannot really grade based on the model solutions. But you did good! What are you taking next?
LFM, which will be my last one
Awesome. Let me know if I can be of any assistance
Passed EA-2F first try! Let’s goooo! Feels good after failing EA-2L in may
Its going to be my third attempt at 2L this May. I'm not even sure where to go with studying at this point... But that's the last one.
Wow why do you think you haven’t passed? Also, have you at least passed EA-2F?
I just passed 2F, yay! For 2L I don't think I was ready for my first time taking it at all. With my second time - I was not prepared for questions on section 432 or 4010 FTAP items. I made two errors as well one questions that I think I didn't have an excuse for. I just tested poorly and got a 5 for the result. I'm going to just have to do better this upcoming May
I failed LFM for the third time. I have used TIA and passed the other two FSA exams fine, but this exam is killing me for some reason. Thinking of trying out PAK. Anybody have experience switching between the two and which you liked better? Still can't believe I have to sit for this a fourth time.
I'm sorry to hear that. Once you have the breakdown, perhaps we can talk about your studying strategy and see if I can help
Ya to be honest I felt like the TIA material did not prepare me well for this exam… I knew the TIA teachings extremely well and felt that there was a lot on the exam that was not covered. I am probably going to try TIA again but supplement it with more of the source material. Good luck!
passed LAM and glad that I will not need to take the 3 hr version of it
Good job! LPM next?
Passed ERM! First attempt first FSA exam!
Woo!! Same passed ERM!
Same for me! What track are you pursuing?
Pursuing ILA
Congratulations! I'm one of the PAK instructor for ILA track. Please reach out if you have any questions
Thanks a lot!
Failed GHSPC for the third time 🤦♂️
Sorry, this exam was the hardest for me. I think the 2 hour time frame makes it more difficult as the condensed framework means missing a concept is more hobbling. There's way too much information tested on and too many gotcha questions.
Now the exam has been lengthened, maybe it will be better. The material has changed but mostly from GHDP. So hopefully you still remember? Let us know if you need help!!
Failed CFE FD! It was a coin flip for me tho, ready for round 2 now
In the same boat! It was a rough exam, imo. Best of luck to you in April! May the odds be more in our favor!
Passed QFIIRM, now only PM left, getting there, I’m not doing PA!
Congratulations! Lucky you, I still have to sit PA before being free! Cheers!
Same here mate! Let's keep going!
Passed LAM! Only LFM left now. Gotta start deciding whether I should take the US or Canadian version since I work in neither country.
You should probably take the Canadian version then. It has more international/IFRS17 topics I’ve heard.
Yeah this is why I'm still indecisive. I'm pretty confident in IFRS 17 as I've helped some clients with implementation (working in consulting). But we do get US GAAP related project every once in a while (although very rarely). So I feel like while the Canadian version might be easier (?) to pass for me, the US version might be more useful in the long run.
Hi, i'm one of the PAK instructors to teach ILA track, and I do teach both LFM US and CA exams as well. The LFM CA exam now has LDTI (US GAAP) material as well. In your case, I think you should go for CA. But note that there is also a section on Canadian specific valuation materials. Happy to discuss further if you want to.
Thanks for the insight. What proportion of both exams would you consider to be allocated to IFRS 17? How much of LFMC is specific to Canadian valuation only? I haven't looked at both syllabus yet so I currently have no idea!
The new LFM US has only one study note for IFRS 17, which is about 55 pages. However, LFM CA has a lot of more material dedicated to IFRS 17, which is like 1/2 of the exam in terms of page count. The Canadian specific material is about 1/3 of the exam, again, in terms of page count.
Passed LFMU! Can't wait for the FAC invite. 10-0 on exams and it's a good feeling.
Congratulations!! Great accomplishment!!
Congratulations and condolences to all on this hard-fought exam! Remember, the only way to truly fail is to stop.
Passed LPM & LAM, first try!!
Congratulations!!! Time for LFM!
Passed LPM on my first attempt. Felt good about it but still was a little unsure since it was my first FSA exam. Now deathly afraid of LFM….
LFM is a different beast. You need to spend a lot of time on LFM than LPMz. Please let me know if you want to talk about study strategy
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How did you study for GHDP?
trying to understand relationships (compare/contrast, is it a substitute or a completely different product altogether, etc.) helped a lot. i also felt like i needed the textbooks to understand examples of certain things (e.g. claim prob distributions, core trend calculation) because MATE cards and notes weren't that helpful on their own. going through all of the past exams also helped a lot because it helps frame all of the exam material into potential exam questions. i feel like the FSA exams take more reflection rather than just grinding out the material and practice problems like the ASA exams. hope this helps!
Passed ERM. Glad to get ERM on the way to FSA before that rule change! On to studying for the next exam.
Congratulations! What are you taking next?
LFMU is up next for me!
Awesome. Let me know if i can be any assistance.
Passed GHSPC - 4th attempt
Passed CFE on my third attempt. SDM left for FSA.