Month: July 2016

Registration for fall exams is now open at the SOA’s site. Be sure to register for the exam before the September 26 deadline.

One of the unique challenges with FSA exams that many actuaries don’t foresee is the added challenge of balancing your job with your study time. As many actuaries rise through the exam process, they also get promotions, new positions, and of course many new responsibilities that they did not have while taking prelim exams. As a group, FSA exam students tend to be older as well. They are more likely to have children and other responsibilities in their personal life.

Actuaries tend to be very self-reliant, determined individuals. This is a great attribute and allows successful actuaries to pass exams and solve extremely complex problems.

But it can also be a disadvantage if you try to take on too much.

My biggest general piece of advice is to approach each FSA exam as a part-time job in itself and structure your life accordingly. This may mean having conversations with your supervisor and colleagues early on to make sure your work duties won’t consume valuable study time—especially in the final two months before the exam. It may also mean talking with a spouse or partner to set expectations about the availability of your time.

Having these discussions early on helps you cement a plan and remove more uncertainty around your study time. It also sets expectations in your professional and personal life so that you avoid problems down the road.

Ultimately, to pass any FSA exam, you have to put in the time—and that means not spending time on other things. Fortunately, this is a temporary phase of your life. But if you can prioritize studying now and keep the bigger picture in mind, it’s easier to make studying a priority over other things. And the more you can “sell” that concept to people in your personal and professional life in terms of how it also benefits them, the better off everyone is.