• TIME TO 2024 UK RANKINGS

  • C++ Programming for Financial Engineering
    Highly recommended by thousands of MFE students. Covers essential C++ topics with applications to financial engineering. Learn more Join!
    Python for Finance with Intro to Data Science
    Gain practical understanding of Python to read, understand, and write professional Python code for your first day on the job. Learn more Join!
    An Intuition-Based Options Primer for FE
    Ideal for entry level positions interviews and graduate studies, specializing in options trading arbitrage and options valuation models. Learn more Join!

Do the quantitative finance courses prepare one for the Actuarial exams in the investment track?

YuZhao

Joined
3/25/11
Messages
26
Points
13
Hi guys, i am wondering if the quantitative finance courses would prepare one for the actuarial exams in the investment track, in particular exam APM(advanced portfolio management) and FETE(financial economics theory and engineering)? There should be some overlap as can be seen from the names of the exam, but how much are they?
 
I don't know how many exams you have taken already, but the actuary exams are extremely specific. The only way to prepare yourself is to purchase books created specifically for the exams.

For example: I know a fellow who graduated undergrad with a 4.0GPA and an A+ in probability and quantitative analysis yet he failed the P exam!
 
there is some overlap but id advise you to buy the exam study manuals
 
MRoss said:
I don't know how many exams you have taken already, but the actuary exams are extremely specific. The only way to prepare yourself is to purchase books created specifically for the exams.

For example: I know a fellow who graduated undergrad with a 4.0GPA and an A+ in probability and quantitative analysis yet he failed the P exam!
Click to expand...
iniesta said:
there is some overlap but id advise you to buy the exam study manuals
Click to expand...
yes, i know what you are saying. I would say manual is a must to pass exams(at least i read manuals before i took each exams), but would the preparing process takes less time if one obtains a degree in quantitative finance program? Would the courses in an MFE program cover all or most of the materials in FETE and APM?
 
why would you want to pay to go to an MFE program just to pass the actuarial exams? Just pass the first two exams, and you can start a job as an actuary. Once you get that job, you get paid to study and pass exams. I think the ONLY reason you would want to take formal classes in order to take the exams is if you never took probability or stats, and have difficulty studying on your own.
And if you are trying to pass a bunch of exams in one swoop (say the first 4 or 5 exams), that won't really help you either. You will be "overqualified" from an exam perspective, and "under-qualified" from an experience perspective.

If you end up working at a financial services firm, I'm pretty sure they'll offer in-house classes for the FETE and APM exams.
 
Crazy, I do think that's the plan. I think Yu would like to hedge one job with the other. Having some SOA exams + an MFE is not a bad combo for the resume either...
 
MRoss said:
Crazy, I do think that's the plan. I think Yu would like to hedge one job with the other. Having some SOA exams + an MFE is not a bad combo for the resume either...
Click to expand...

I have 2 exams ... and I found them pretty easy so far. You would think it is easy to get a job as an actuary but it is actually more difficult then you think without any internships.
 
AndrewChang said:
I have 2 exams ... and I found them pretty easy so far. You would think it is easy to get a job as an actuary but it is actually more difficult then you think without any internships.
Click to expand...
And getting an internship is no piece of cake either!
 
so i take it that the issue is work experience. enrolling in a MFE program runs counter to that goal. really, i think joining an MFE program without any work experience is a bad investment. I think employers are more interested in what practical skill you bring to the table, and not so much about grades or your academic accomplishments. After this recession, people just flooded into grad school, so now employers will be faced with this mad rush of MS/MA/MBA/JD graduates. The ones that can demonstrate their abilities with past experiences will likely be the ones to get the jobs.

I don't know if you have already had a full time job. If you did, then great! Else, I fear you might receive an advanced degree, but end up with a job that does not reflect you academic standing. It is a question of what will likely be your return on investment after a year or two of grad school. Who knows, maybe everything will turn out great for you!
 
CrazyRussian said:
why would you want to pay to go to an MFE program just to pass the actuarial exams? Just pass the first two exams, and you can start a job as an actuary. Once you get that job, you get paid to study and pass exams. I think the ONLY reason you would want to take formal classes in order to take the exams is if you never took probability or stats, and have difficulty studying on your own.
And if you are trying to pass a bunch of exams in one swoop (say the first 4 or 5 exams), that won't really help you either. You will be "overqualified" from an exam perspective, and "under-qualified" from an experience perspective.

If you end up working at a financial services firm, I'm pretty sure they'll offer in-house classes for the FETE and APM exams.
Click to expand...

No, i didnt mean to go to an MFE program to pass actuarial exams... I go there because i like the courses there. Preparing for the actuarial exams, if it can, will be a plus.
 
Back
Top