Actuarial Exam-II: Financial Math
Exam MLC/3L: Life Contingencies
Practice Sample Exam and Solutions, Study Notes, Exam Strategies
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The 2nd exam(FM: financial math) is different from the first one: probability, it heavily depends on the good use of financial calculator. You
need to buy a financial calculator specified by the actuarial of society.
So if you are very good of using calculator, and not that excellent at math, then this exam might be easier for you(compared with the 1st exam),
as you can see
previous actuarial exam preparation homepage, passing percentage for 2nd exam
is actually higher than the first exam.
The mathematics complexity requirement is not that
much as the first one.
If you want to make good use of the sample exam, then you need to do the problems by yourself first, try to figure it out by yourself, don't read the solutions unless you really have to;
otherwise, if you just simple read the solutions, then it will not help you that much.
One of my students barely passed the undergrauate probability class, she just simply read the solutions, and she had to try at least 4 times to finally pass the exam.
During the exam, most people will feel again that they don't have enough time to complete all the problems, especially if you are not good at using financial calculators,
it will be difficult for you to finish all the questions within the very limited time, check this page for
the strategy to pass the exam.