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!

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!

Update

It has been over a year since the last post. I kind of gave up on this blog, but then I remembered that I put some goals down on my first post and wanted to see how they have panned out.

1. I wrote CSP on April 30, 2010 and when results came on July 9, I ended up with a 6. To that point, it was probably the greatest relief and excitement of my life. It was short-lived however: I got married one week later! I was not expecting to pass after leaving the room, and after a self-grade (the SOA posted the questions online, but not the solutions, so I graded myself), I put my mark in the 50-55% range. Lucky for me, that was enough for the 6. It was my first 6. In fact, I have never got the same grade twice. I now am the proud owner of one and only one 10, 9, 8, 7, 6, 3, 1, 0. The bad thing about that is that I'm out of passing grades with one exam to go!

2. I wrote DP on November 4, 2010. Grades are to be released January 14, 2011. I prepared fairly hard for the exam. After the wedding on July 17, my wife and I took our honeymoon trip in Europe, and when we got back, I started my study routine and more-or-less stuck to it. I did what I could with the time I had to study and at the end, I feel I did just as much as I did with CSP, but unfortunately I did not feel so good coming out of the exam room. But I felt the same way with CSP (actually, I felt even WORSE about CSP), and ended up with a 6, so I'm not counting myself out yet. Like CSP, I did a self-grade, and I think I'm in the 55-60% range, which is higher than CSP, but it's all relative. The passing grade may be set higher if everyone did better on average.

3. I am currently working on the 2nd FSA module. I hope to be done by December 31 as our work is taking away raises for FSA modules on that date!

4. They added a new FSA module several months ago. So there's no way I will have ALL my requirements done by December 31, even if I passed DP and complete the 2nd module. Oh well - you can never assume the process is going to be consistent one year to the next.

So really at this point, everything is dependent on the DP results. If I passed, then I should be able to obtain designation at some point next year. If I fail, then I'll obviously be re-writing next fall and designation will have to wait until 2012.

I really hope things turn out alright. The exams have really consumed a lot of the last 5.5 years, and I could really use some "life" back in my life! I'll keep this blog updated.

Already 1 Month Behind, but....

Today I submitted the Health Systems module. It took longer than I wanted it to, but I still find it difficult to tell exactly what the SOA looks for when grading. The sample solution was very direct, straight to the point. Mine was a little more vague, but I'm confident I hit all the key areas they will look for.

Submitting this took a month longer than I wanted to, but it's done, and that's all that matters. I am now going to start studying for CSP in May! This exam is going down.

I'll keep you posted with the progress. The GRASP manual has a good study schedule. I'm going to try to keep to this as best I can.

Let the real fun begin!

Purpose of the Blog

First, I'm going to lay down a couple of facts:

1. If you're not an actuary, nor familiar with the examination process we go through, you are going to find this blog particularly useless.

2. If you are an actuary, I'm really doing this blog moreso for me than anyone else, so you too are going to find this blog particularly useless.

The purpose of this blog is to track my final SOA examination progress. As it stands today, I have 2 exams left, plus the modules. I intend on using this blog to quickly jot down what I learned from my readings on a particular day (meaning there should be LOTS of posts on here by the time I am done) to explain what I've read in terms easily understandable to myself.

Like for any good mathematician, the order of operations is important. I have two exams and two modules left. Here is my plan for passing these exams and modules:

1. FSA Module 1 - Submitted by August 19. Pass.
2. CSP-GH - Active studying for this exam beginning on August 20 until the exam in early May 2010. Pass.
3. CSP-DP - Active studying for this exam beginning in May 2010 until the exam in early November 2010. Pass.
4. FSA Module 2 - Either after DP or maybe before should time permit.

Completion Date Goal = December 31, 2010

This means I want to have all the requirements for my FSA designation by December 31 of next year.

Thank you! Although this blog is moreso for me (as mentioned before), feel free to ask me any questions.