actuarial exams

[Zeuge]

I'm sure it's been asked before, but is there any utility in taking actuarial exams for anything other than actuarial positions? Would having a few actuarial exams under your belt be a plus for risk analyst positions, for example?

 

[MRoss]

It has been asked many times. Short answer: Don't do it.

 

[Zeuge]

What if I'm interested in quantitative consulting positions? It won't help at all?

 

[MRoss]

It won't help at all?

Reviewing your multiplication table will help you. Practicing your algebra will help you. But is it worth 3 months of your life to pass each exam? I doubt it.

 

[YYe]

Reviewing your multiplication table will help you. Practicing your algebra will help you. But is it worth 3 months of your life to pass each exam? I doubt it.

I prepare less for a month for each exam

 

[darth]

I prepare less for a month for each exam

Agreed... I needed about a week's time for first three...

 

[Zeuge]

Yeah, I doubt it'll take that long to prepare, given that stats and probability is fresh in my mind. If it's useless outside strictly actuarial positions I won't bother, though

 

[IlyaKEightSix]

The first one is probability, which may be somewhat interesting to potential employers.

The rest of them? Rubbish.

 

[darth]

The first one is probability, which may be somewhat interesting to potential employers.

The rest of them? Rubbish.

Have you gone through the content of the other exams ?

 

[YYe]

Have you gone through the content of the other exams ?

I think they are helpful, just not that rigorous.

 

[Zeuge]

I'm getting really mixed messages here -- if I don't want to be an actuary per se but am interested in consulting/risk analysis, are actuarial exams at all useful?

 

[darth]

I think they are helpful, just not that rigorous.

I think it gets really rigorous after MFE( Financial Economics exam)....

 

[YYe]

I think it gets really rigorous after MFE( Financial Economics exam)....

Agreed..the ASM manual for MFE almost drove me crazy at the beginning.

 

[bullion]

Agreed..the ASM manual for MFE almost drove me crazy at the beginning.

Are we assuming you aren't crazy to begin with?

 

[YYe]

Are we assuming you aren't crazy to begin with?

Hahaha maybe a bit crazy or I wouldn't think of a better reason for planning to take MFE without any background knowledge at that time :D

 

[SYau]

Don't do it.

 

[Zeuge]

Don't do it.

Point taken. Are there any exams/certifications that would help me at all, or should I just focus on math and stats classes in school?

 

[bullion]

Focus on school. Get really really good recommendation (like "I will sell my own children to see this guy getting admitted to your program"). Most importantly, get a job in related areas. It'll come back to help a lot at graduation

 

[SYau]

Point taken. Are there any exams/certifications that would help me at all, or should I just focus on math and stats classes in school?

A few of my classmates have CFA, but my limited experience is that it doesn't seem to help quant finance all that much (it certainly doesn't hurt). Aside from that, I agree with bullion, focus on (financial) math and C++/OOP design/programming.

 

[Eric.Z]

Agreed..the ASM manual for MFE almost drove me crazy at the beginning.

MFE is my favorite actuarial exam...I studied MFE by myself when I was a freshman in college. I agree that the SOA exams would not help much in terms of admission and employment. However, for a college student, it teaches one how math is applied to finance and leads one to think about his course plans and career development. I think it is useful.