Actuarial Exam Preparation

You’ll need to have a good educational background in order to prep for the actuarial exams. Just like any other type of exam, the key to passing is preparation. With the actuarial exams though, it’s not just one exam, it’s actually a series of exams that you’re going to need to pass. Additionally, there’s going to be series sets of exams that you’ll need to pass to remain active throughout your career.

Before you can proceed you’ll want to make sure that you take all of the needed courses in order to become an actuarial. Your college advisor is going to be able to tell you the courses that you need to take and study, however, there are some courses that are constants throughout different schools, such as:

  • Two semesters of statistics
  • Three semesters of calculus
  • One semester of finance
  • One semester of business communications
  • Three semesters of economics

Other than that you’ll of course need your actuarial science courses as well, which you’ll be able to get from your college advisor.

After you have the plan in place and know all of the courses that need to be taken you can set the time for your first exam. More often than not, a college student pursuing this career path will take the first of the exams while they’re still in school. The reason for this is that the material is still fresh in the mind and most companies aren’t going to hire an actuary without them passing at last one exam.

After you’re signed up you’ll want to review the test syllabus before taking the actual test. The syllabus is going to cover anything that could be found on the actuarial exam you’ll be taken. Ensure that you not only know the material being covered but understand it as well.

One common thing that’s often overlooked and shouldn’t be is the sample exam. You can find many sample exams you can download and then practice on. This is going to let you know what areas you need to focus on more and what ones you’re fine on. You should continue doing this until you’re able to pass it as if it’s second nature.

If you’re having problems or do better in a group setting, either form or find a study group. For many people, there’s no better way to learn material then the give and take of questions and answers with others. Finding other actuarial students is going to allow you to study and practice together, i.e. – learning from one another.

On the day of the actually exam you’ll need to go in prepared. This means that you should show up early and have everything with you that are listed as required. The night before ensure that you get plenty of sleep and trust in your studying and self and/or group practice testing. Test taking is easier for some than others; however, the exuding of confidence is king. You’re prepared and you’re ready to get the first one out of the way.

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