Get 1. INTRODUCTION - Institute And Faculty Of Actuaries

It makes sense for actuarial examinations to have very high standards. And actuaries are paid very well, while having prestigious, comfortable jobs, with low stress levels, and no unemployment. There has to be a catch, and the catch is: it is hard, very hard, to become a fully qualified professional actuary.

Preparation is key. While everyone studies differently, the typical candidate studies about 100 hours for every hour of the exam. For example, exam P/1 is a three hour exam. That means you will be hitting the books for 300 hours to fully master the concepts tested on that exam.

Taking advantage of available study materials like study manuals and practice exams is key to passing your exams. Don't Underestimate the Necessary Amount of Time and Study Preparation. ... Start Prepping Early. ... Take One Exam at a Time. ... Take Advantage of Available Resources. ... Obtain the right study materials.

But unlike doctors or lawyers, actuaries need to, in order to become fully credentialed, pass a series of difficult tests called Actuarial Exams. These are very hard. Very very hard. The preliminary exams are 3 hours long, consisting of 30-35 multiple choice problems, and the pass rate is typically only 30-40%.

There are, realistically, about half as many problems that could be on Exam FM than on Exam P. But if you took a course or two in probability recently, and feel strong at it, I would suggest taking Exam P first. This way, you won't forget as much before you start your studies, and will have time for more breadth.

ABOUT INSTITUTE OF ACTUARIES OF INDIA (IAI) IAI is a statutory body established under The Actuaries Act 2006 (35 of 2006) (herein under referred as 'the act'). It regulates the Actuarial Profession in India.

Fellowship is available to members who wish to continue their studies to an advanced level, or to specialise in a particular actuarial field. They will need to pass further specialist exams to qualify as a Fellow.

The exam covers basic to intermediate probability concepts covered typically in a first and second year university stats class. Knowledge of first year calculus is expected. The exam is typically quite a bit harder than a university exam setting with a pass rate around 50-60%.