1. Actuarial Exam Workshop 2019-2020

2. Exam Process Registration Subsidy Policy VEE Process Course Prep
Study Strategy
Exam Day
Subsidy Policy
VEE Process

3. Exam Registration Part I: Ordering the Exam
Be aware of exam registration deadlines!
Visit soa.org or check SAM s/calendar for reminders
Register ASAP (first-come first-serve basis)
Step 1: Visit soa.org and create account (for new members)
Step 2: Under “Education and Exams,” click registration
Step 3: Select the exam you are taking (choose CBT if possible). Click Go.
Step 4: Follow the instructions. Enter credit card information.
IMPORTANT: You do not select your testing location/date when you initially pay!

4. Exam Registration Order Receipt
Actual receipt attached

5. SOA Letter of Confirmation

6. Exam Registration Part II: Scheduling the Exam
Receive Letter of Confirmation 3-5 business days later
Check spam folder if still missing
Follow instructions on for scheduling your specific exam date and time
Location will be at a prometric testing center (choose location that is closest to you)
Factors to consider: Will you be at home or on campus? Will you be working at an internship?
Appointment confirmation from Prometric will be ed to you immediately after you schedule
Review their instructions/directions to see what you need to bring to the exam and how you get to the testing center

7. Registration Review

8. SOA Actuarial Exams: 2019/2020 Exam P Exam FM Exam IFM Exam SRM
Exam STAM
Exam LTAM
Exam PA
Jan
Feb
Mar
Apr
Jun
Jul
May
Oct
Dec
Nov
Sep
Aug
When to take exams? Course planning!
9/2/2018

9. Exam Process Registration Subsidy Policy VEE Process Course Prep
Study Strategy
Exam Day
Subsidy Policy
VEE Process

10. Course - Exam Matching Course Exam MA 425 P MA 424 FM
MA FIN 300/302
IFM
STATS 415
SRM
MA MA 524
STAM
MA MA 521
LTAM
TO 414 PA

11. Exam Process Registration Subsidy Policy VEE Process Course Prep
Study Strategy
Exam Day
Subsidy Policy
VEE Process

12. Study Resources Course Material Study Manuals SOA Problems/Syllabus
SAM Library (contact Professor Natarajan or me)
Exam Chair ( if you have any question regarding exams/VEE/class registration

13. Suggested Study Strategy Tips
Best piece of advice: Everyone studies differently. Find what works for you.
Courses provide general knowledge, Study Manuals are your study guide
Focus more on the study manual
During Course
Take good notes and review material frequently
Do well on tests! - More likely to do well on the exam if you perform highly in the class
Find time to review study manual
Study Manuals
Coaching Actuaries (Promo code: ????), ACTEX, ASM, TIA
Covers exam content and provides sample problems/practice exams
Utilize SAM Library for free study materials!
Goal: Learn material in class but find most important material/what’s tested on exam by reviewing the study manuals

14. Important Additional Study Resources
Adapt (coaching actuaries)
Receive thousands of practice problems
SOA Sample Problems
Retired exam problems
Many questions still repeated on exam
Review exam syllabus on SOA website

15. Study Timeline Everyone learns at different speeds
Rule of Thumb: 100 hours of studying per hour of the exam
Create a schedule and stick to it (studying lasts months)
Schedule suggestion: Make sure you leave enough time to cover all content and still have time for 1 month of practice problems/practice tests
NOTE: Exams get harder (more material = study more) as you progress
Sample Study Strategy (Minimum Study Amount):
1 semester: learn material through course and work through study manual
1 month: Practice! (problems and exams)
Take Exam

16. Utilize Peers Study in groups Utilize Slack
Ask your SAM mentor how they studied
Reach out to your Exam Chair

17. Day Before The Exam
Drive to the testing center so you don’t get lost on exam day
Make sure your calculators are fully charged/ buy an extra calculator
Review Exam Syllabus for acceptable calculators
Light studying
Don’t stress yourself out
Pack your bag
Photo ID, calculator, exam receipt
Check prometric confirmation /exam syllabus for additional information
Get a good night’s sleep!
Be confident!

18. Exam Process Registration Subsidy Policy VEE Process Course Prep
Study Strategy
Exam Strategy
Exam Day
Subsidy Policy
VEE Process

19. Exam Day Eat breakfast Arrive early
Testing center procedures (Prometric is very official)
They will pat you down/ use metal detector
They will check your glasses for cameras
They will provide you with pencils….I have no idea why
They will clear your calculator’s memory
You will be seated at a computer terminal and instructions will be given on screen
Take a deep breath and begin the exam
Don’t panic! You will find a rhythm
Finish exam and take a brief survey
Receive automatic results for P, FM, IFM, SRM, and STAM, need to wait 6-8 weeks for others

20. Official Results 6-8 weeks after the exam
If signed up for texts, receive a text from SOA: “Hello candidate (number) the result of your (exam) is Pass/Fail”
List of passing candidate numbers can be found at soa.org → “Education & Exams” → “Exam Results” → Choose exam
Transcript can be found at soa.org → “Education & Exams” → “Exam Results”
Use transcript for official proof of pass if there’s no preliminary pass for reimbursement

21. Exam Process Registration Subsidy Policy VEE Process Course Prep
Study Strategy
Exam Strategy
Exam Day
Subsidy Policy
VEE Process

22. Congrats! You Passed!

23. SAM Exam Reimbursement Policy
Step 1
Be a paid member of SAM
Declare actuarial math major
Be an enrolled student when exam is taken
Be an enrolled student when all materials submitted
Step 2
Fill out exam reimbursement form
Proof of passing (preliminary or official transcript if preliminary isn’t provided)
Receipt of exam purchase
Resume
Step 3
Case 1 - Pass During
School Year:
Send materials to Professor Natarajan’s Office (EH 2855)
Case 2 - Pass Over Summer:
materials to Professor Natarajan
We will not go into detail on this during the Mass Meeting. All we will say is that we reimburse your exam fees if you pass. For further information, read over this slide when we it out, go to the SAM website, or talk to a SAM board member.
For Further Information:

24. Exam Process Registration Subsidy Policy VEE Process Course Prep
Study Strategy
Exam Strategy
Exam Day
Subsidy Policy
VEE Process

25. Course - VEE Matching Course VEE ECON 101 + ECON 102 Economics
STATS 426
Mathematical Statistics
ACC FIN 300/302
Accounting and Finance

26. SOA Approval
Step 1: Take all courses required for all 3 VEEs. You will need your transcript.
Step 2: Go to soa.org → Education and Exams → VEE: Validation By Educational Experience
Step 3: Apply for each VEE separately
Step 4: Wait 6-8 weeks for SOA approval

27. SAM VEE Reimbursement Policy
Step 1
Be a paid member of SAM
Declare actuarial math major
Take VEE courses at Michigan
Be an enrolled student when all materials submitted
Step 2
Fill out exam reimbursement form
Proof of payment to SOA
Resume
SOA approval for VEE credit is NOT NEEDED!
Step 3
Case 1 - Apply During
School Year:
Send materials to Professor Natarajan’s Office (EH 2855)
Case 2 - Apply Over
Summer:
materials to Professor Natarajan
For VEEs: You have 30 days to submit all materials to Professor Natarajan after applying for VEE credit with the SOA
Note: Students can only apply for reimbursement after receiving all 3 VEEs or in their final semester of their senior year if all 3 are not achieved
Timeline
We will not go into detail on this during the Mass Meeting. All we will say is that we reimburse your VEE fees if you pass. For further information, read over this slide when we it out, go to the SAM website, or talk to a SAM board member.
For Further Information:

28. Panel