SA1 sadness

Discussion in 'SA1' started by Geraldine, Feb 16, 2019.

  1. Geraldine

    Geraldine Member

    I was either going to be a doctor or an actuary. I can’t believe I chose this path. What a long, arduous, tear-drenched road it’s been.

    After failing SA1 last session (which was hopefully going to be my last ever), I was dejected to find out I’d failed. I’d put in WAY more hours than what’s recommended. I’d painstakingly summarised the notes, built my lists, learnt them thoroughly, did around 20 past papers - I wanted to bury this nightmare once and for all. I thought I’d utilised all the strategies I’d learnt previously from passing CA1 and the two STs. Sadly, my name was not on the list.

    So I’m finally finding the motivation to open up the books again, and lo and behold! The syllabus change is more significant than I thought it would be (at least at first glance). I don’t know about anyone else but, for me, this is heartbreaking stuff. I can barely study the stuff I’d put in hundreds of hours for already - now I have to learn a fair amount of new stuff, figure out where the differences are in the core reading, and learn about regulatory regimes in countries I’ll never work in. Also, there seems to be stuff from the old ST1 exam in this subject.

    Why???

    Why, IFOA? You’ve robbed me of so much time. I’ve missed out on being with family for such a long time.

    I’m so exhausted. Mentally exhausted. I think nothing has driven me as close to depression as probably these exams have. I’m so tired and one more exam feels like 5 more right now. No idea why I’m writing this - venting maybe. I think the saddest thing is, I don’t even like my job and I don’t think I could stomach the idea of being an actuary till I retire. The universe is so cruel sometimes.
     
  2. KevinB

    KevinB Member

    I've felt like this so many times, if i could go back i wouldn't have chosen this career, for the effort and sacrifice you have to put in the Salary isn't even that great. You could earn a lot more elsewhere for the same effort. I also have 1 exam left, an ST, thankfully it's my first time doing it, but if i had failed my SA in December I would feel the same as you. It's been such a long road not helped by the fact i had no exemptions.

    I'm also sick and tired of sacrificing life and career for these stupid exams. I don't mind the day job but i do wonder if i will stick at this career for the next 30 years but sometimes you feel so far down the road you can't change direction until you finish.

    I'm sure once you qualify you will quickly forget about how miserable this time was!
     
    Last edited by a moderator: Feb 16, 2019
    almost_there, Infinity and Geraldine like this.
  3. Geraldine

    Geraldine Member

    Thanks for the reply! It sounds like you’ve had a very similar experience. I definitely feel like I can’t change direction because I would hate myself for having spent so much time to get here. It’s such an irony. I suppose it provides a small amount of comfort knowing our salaries will go up a bit. But yeah, I’ve often thought I could have more easily completed something else by now and been earning more for it.

    So much of the whole process is just painful - even the 3 month wait to results which are sometimes inexplicable. Truly cannot believe what I got myself into!

    Anyway, good luck with the studying. Hope you and I both make it. I think I’m in trouble though, it seems to be too late.
     
  4. Infinity

    Infinity Member

    Why don’t you give up?
     
  5. Infinity

    Infinity Member

    I suggested you should quit as this is what I was advised by a select Group of trollers on here. I took offence and even reported their posts. Acted did nothing. While their messages suggesting I should quit were allowed to remain, my recent advice to you has all been removed. I didn’t even get a message to say that my message had been removed. This goes to show I am being victimized by Acted. I’ve taken a screenshot so I can use this as evidence.
     
  6. Harashima Senju

    Harashima Senju Ton up Member

    at least you have a job. I have been writing the actuarial exams since 2013 and I'm still unemployed. Didn't even have even one exemption. I thought this was the career that would help me escape Zimbabwe but it seems I chose the wrong one. I sometimes wonder if writing the CP exams will hurt my employment prospects. Residing in a country with over 90% unemployment is not fun at all. I should have become a doctor at least they usually have 0% unemployment regardless of country
     
    Infinity likes this.
  7. Infinity

    Infinity Member

    Sorry to hear that. The length of time to qualification is absurd for such a pathetic job. People think that after they have achieved this great feat of conquering these excessively difficult exams they have achieved something. The truth is no one cares. Actuaries are a joke outside the walls of the IFOA castle and the profession is saturated. There are too many actuaries and not enough jobs. The IFOA has been fooling people into taking their exams with promises of secure and lucrative employment. The only people that have gained from these claims are the executives of the IFOA, most notably Mr Derek Cribb who’s salary has gone up from GBP 200,000 to GBP 384,000 until they stopped reporting the figure and likely even more now. You can complain to the advertising standards authority in the UK if you feel like you’ve been mislead. You won’t be the first one and the more people that complain will help getting the executives at the IFOA to take responsibility for the misery they have caused and are causing to thousands of students. No doubt this post will be deleted so make sure you take screenshots of your posts so you can rely on them as evidence of the “fixer” Acted doing the dirty work for the Institute.
     
    mossie likes this.
  8. Infinity

    Infinity Member

    So what do you guys think of the chartered actuary initiative? Essentially the IFoA is admitting that fellowship is not really required and you could have just stopped at associate.

    Please continue this discussion. I’m finding it therapeutic
     
    mossie likes this.
  9. Infinity

    Infinity Member

    Original poster - any updates? What did you decide to do in the end?
     
  10. Geraldine

    Geraldine Member

    I’m roughing it out because it is in fact only one more exam. Even though 1 more feels like a lot right now, I think it would be strange to have put in all the effort to get to this point, only to quit at the last hurdle.

    Also, I’ve managed to read through the new sections, create new notes, delete old and now irrelevant notes (from the previous syllabus) and that’s really, really helped me a LOT. I feel like it’s now just a matter of doing past papers, committing the bookwork to memory :confused: and hoping the questions play to my strengths on the day! Otherwise, September :(

    (I think IFOA would have done well to provide a set of old notes with “tracked changes” for anyone who purchased their old core reading.)

    Harashima, I’m also from Zim. I made a move at around about the stage you’re at now. I replied to one of your previous posts, and if you want to get in touch or ask about my experience with finding jobs abroad, please inbox me.
     
  11. Infinity

    Infinity Member

    I’ve passed SA3 and I only had CT4,5 and 8 left. These doubled in exams and I now have to do 6 exams and essentially repeat CT1 and CT6. I thought the same as you, I’ve put in so much effort and am nearly at the end but people in this forum told me to give up the exams. Why do you want fellowship anyway. It’s just not required. If you read the latest actuary magazine you can see how the president is telling everyone that associateship is enough and from recent council meeting minutes, the ifoa are plotting to promote associateship and even “make” employers understand that associateship is enough.
     
  12. Geraldine

    Geraldine Member

    I feel your pain - Your situation is definitely harder than mine is.

    But I suppose I want fellowship for a few reasons. Despite what anyone says, and I think a lot of people still think like this (whether right or wrong), it’s still the summit. And I guess there are a number of benefits that come with that, not just an increase in earnings potential.

    And on a personal front, it would feel like I’ve not completed something I started, or decided to quit just before the finish line.

    Of course, that’s just how I personally see it for myself and I’d never cast that expectation over anyone else because we all go through different journeys and I absolutely, certifiably know how hard it can be.

    All I can say to you is, you’re not alone in this struggle to finish off. And only you can decide what’s best for your circumstances. I can only wish you the best of luck in this decision and if you decide to go on, I do hope you find success quickly!
     
    almost_there likes this.
  13. Jesca

    Jesca Member

    Hi there. I wouldnt mind to see the notes you made--this whole change demotivated me. I am still figuring out how to tackle SA1 within these remaining few days.
     
    Geraldine and Infinity like this.
  14. Infinity

    Infinity Member

    Another person affected by the change...
     
  15. almost_there

    almost_there Member

    I think their conduct eventually boils down to pure & reckless greed due to lack of accountability and a monopoly situation. It's not normal the manner they conceal so much about how they operate- they run an exam system for goodness sake!
     
    Last edited by a moderator: Mar 27, 2019
    Infinity likes this.
  16. Maxit

    Maxit Member

    Agree with this so much. I don't understand why they didn't do this.

    I'm in the same boat as you Geraldine. Been stuck on SA2 for more sittings than I can count. The amount of family life, mental peace and respect at work I have had to sacrifice because of not passing this exam has really crushed me beyond a losing a close family member. I have been missing the pass mark by a few marks in the last few sittings. Second to last sitting, I was actually passed by one the the exam markers by a good margin but failed by the other and it averaged out overall to a fail. It was beyond devastating.

    Here's hoping this sitting is our last. Really cannot take it any longer
     
    mossie, Aladinsane and almost_there like this.
  17. Infinity

    Infinity Member

    So another example of bad marking. And sorry for your loss. I’m trying to speak out against the IFOa but my efforts are being thwarted by Acted who keep banning me on this forum. I’m obviously not the only dissatisfied person as can be seen from the above.

    How many exams have you taken Maxit?

    Was there no third marker?
     
  18. Maxit

    Maxit Member

    This will be my 5th attempt at SA2. It's been my final exam to qualification since 2016
    There was a third marker who's overall marks happened to be the average of markers 1 and 2. I had posted my rant on the SA2 forums after last years sitting. But must keep going on...
     
  19. almost_there

    almost_there Member

    I doubt this is a system that genuinely tests competence standards. This kind of system does not happen on the continent and IFoA have claimed they're equivalent (yer right). It's clearly cruel to only provide people with 2 opportunities at this boring exam a year, with no alternative means to demonstrate competence.
     
    Last edited by a moderator: Apr 9, 2019
  20. Infinity

    Infinity Member

    I’m not sure if it is worth it. I also sat SA3 5 or 6 times, mainly because of the whole syllabus change and introduction of ST7 and ST8. Now we’re being told that we don’t need to be fellows since the chartered actuary would do.

    Where is your rant? I’d be interested to read it. I have decided to stop exams and take action against the IFOA and Acted since vulnerable students are increasingly being bullied by organisations such as these that only have financial interest
     
    mossie likes this.
  21. Maxit

    Maxit Member

    Last edited by a moderator: Apr 9, 2019

Share This Page