Just wanted to update the blog to say that the PEC was completed last week. I won't have results until mid-to-late July, but I'm pretty sure I demonstrated "adequate knowledge" on the exam - at least enough to pass. Unlike the SOA exams, the markers are not looking to fail people. Historically, the passing rate for the PEC has been over 80%.
What I did do however was switch from the Individual Life & Annuities track into the Group Benefits track about a month before the course started. After getting through all the ILA readings, I went back to the beginning and could not recall much. Since it was not my SOA exam track, it simply proved to be too much to learn. The Group readings on the other hand were similar to the SOA readings I had already done, so I made the switch. I'm very glad I did because I heard that the ILA exam was fairly tough.....so I'm thinking I may have been in that 20% had I stayed. The important thing is passing.
Anyway, I'm still at the same spot in regards to the SOA. I have one module + DMAC left. If I can get both done by August 22nd, I will be going to the FAC in Dallas this December. Assuming that I passed the PEC last week, this means that I will obtain both FSA and FCIA designations simultaneously (you can write the PEC without having an FSA, but you cannot have an FCIA designation without the FSA). Very excited. I feel like I have passed through the tunnel with the light at the end. Everything from here until the end is pretty much a formality!
If I miss that August deadline (I really want to enjoy this summer!....but doing TOO much enjoying will cut into the studying time), it will be the March FAC in Atlanta. Either way, I get to go somewhere warm in the winter! Hahaha.
I'll keep everyone posted. Take care!
Friday, June 17, 2011
Friday, January 28, 2011
PASS!!!
I did not update the blog (who am I kidding - this is a journal!) on the Friday the results were released, but it brought HUGE news. I passed my last SOA exam!! I was at work when I found out (just after 10:00am), and the first thing I did when I saw my number was throw my glasses off and cry a little bit. Not much, but probably enough that my next-door cubicle neighbours were probably wondering what was going on!
I spent the next two hours telling everyone I could, starting with the wife of course, who was honestly probably happier about it than I was! That's an important point actually. TANGENT TIME!
Ok, so everyone is obviously happy for you when you pass, but no one, NO ONE, understands the significance of a pass unless you're going through it yourself, or you are attached to someone who is going through it. A common saying among actuarial students is that the exams cost them friendships. This is true. It is difficult to maintain a consistent social life and have success with exams. Well, some people can - and these are people who should probably be professors as opposed to actuaries - but for the most part, social life (and therefore friendships) does suffer. Working by day and studying by night certainly put a strain on the relationship with my family. I live a few hours away from them, and could really never sacrifice a full weekend to not study and see them. It's an awful feeling, but I'm hopeful things patch themselves up now that I'm done exam writing.
Anyway, the next couple of hours after I saw I passed were spent telling everyone close to me the news. It was a great morning! The only thing that makes days like that better is when the people around you pass as well. Unfortunately, that was not the case for a couple of friends of mine who wrote the same exam. I treated them to beers after work that day. I know they'll get it soon though, and I can't wait to be on the receiving end of the beer when that day happens!
So my goal coming into this job at the start of 2010 came true. I passed BOTH of my FSA exams! It's unbelievable when I think about it! People in this office were generally successful. Definitely more passes than not. Hindsight being 20/20, coming here when I did was one of the best decisions I have ever made.
So what are the next steps? I'd really like to finish off my final FSA module and the DMAC (I completed the PRF Module just before Christmas) as soon as possible, but the PEC is being offered in June. Because I'm taking the Individual Life & Annuities track at the PEC (as opposed to my SOA track which was Group), my studying has to start very soon. After the PEC is over, then I'll finish up the SOA requirements and get my FSA. If everything goes perfectly, I'll be FSA/FCIA by year's end.
What a year 2010 was! Wedding, trips, passing exams......I don't think there will be a year quite like this last one!
I spent the next two hours telling everyone I could, starting with the wife of course, who was honestly probably happier about it than I was! That's an important point actually. TANGENT TIME!
Ok, so everyone is obviously happy for you when you pass, but no one, NO ONE, understands the significance of a pass unless you're going through it yourself, or you are attached to someone who is going through it. A common saying among actuarial students is that the exams cost them friendships. This is true. It is difficult to maintain a consistent social life and have success with exams. Well, some people can - and these are people who should probably be professors as opposed to actuaries - but for the most part, social life (and therefore friendships) does suffer. Working by day and studying by night certainly put a strain on the relationship with my family. I live a few hours away from them, and could really never sacrifice a full weekend to not study and see them. It's an awful feeling, but I'm hopeful things patch themselves up now that I'm done exam writing.
Anyway, the next couple of hours after I saw I passed were spent telling everyone close to me the news. It was a great morning! The only thing that makes days like that better is when the people around you pass as well. Unfortunately, that was not the case for a couple of friends of mine who wrote the same exam. I treated them to beers after work that day. I know they'll get it soon though, and I can't wait to be on the receiving end of the beer when that day happens!
So my goal coming into this job at the start of 2010 came true. I passed BOTH of my FSA exams! It's unbelievable when I think about it! People in this office were generally successful. Definitely more passes than not. Hindsight being 20/20, coming here when I did was one of the best decisions I have ever made.
So what are the next steps? I'd really like to finish off my final FSA module and the DMAC (I completed the PRF Module just before Christmas) as soon as possible, but the PEC is being offered in June. Because I'm taking the Individual Life & Annuities track at the PEC (as opposed to my SOA track which was Group), my studying has to start very soon. After the PEC is over, then I'll finish up the SOA requirements and get my FSA. If everything goes perfectly, I'll be FSA/FCIA by year's end.
What a year 2010 was! Wedding, trips, passing exams......I don't think there will be a year quite like this last one!
Monday, January 10, 2011
The Longest WEEK......
Friday is the results day, and although it feels weird saying this, thank GOD it's year-end right now, otherwise the days would be rolling by at a snail's pace as opposed to a turtle's (the days are still slow, but thanks to year-end, not CRAZY slow).
I just want to find out to get this over with. Will I have to study for this again or won't I? That's it.
Anyway, typing this brought me one minute closer to results. Only another 5,200 or so to go!
Take care!
I just want to find out to get this over with. Will I have to study for this again or won't I? That's it.
Anyway, typing this brought me one minute closer to results. Only another 5,200 or so to go!
Take care!
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