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?
Do the quantitative finance courses prepare one for the Actuarial exams in the investment track?
- Thread starter YuZhao
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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!
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!
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?
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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.
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.
AndrewChang
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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.
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And getting an internship is no piece of cake either!
AndrewChang
Baruch MFE Alum
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Exactly... and you must be getting it while your in school and they require you have this and that...
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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!
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!
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.
