advice for non-member (yet)

[Alax1]

Hello,

I want to take CT1 this fall as a non-member to see whether the actuarial career is for me.

I saw that previous exams and their solutions are available for free. Precisely what material should I order from ActEd (or elsewhere) that covers the CT1 syllabus? (preferably an electronic version to get it faster)

Are there any disadavantage in taking it as a non-member? I could apply for student membership now, but since I'm not 100% sure, I wanted to try one exam first...

Thanks

 

[Little Miss Actuary]

I saw that previous exams and their solutions are available for free. Precisely what material should I order from ActEd (or elsewhere) that covers the CT1 syllabus? (preferably an electronic version to get it faster)

The minimum is CMP from ActEd really. If you have the money, I'd buy ASET as well. Anything else is just an added bonus if you are feeling flush. ActEd don't do electronic versions of the notes (there is thread about that on here...).

Are there any disadavantage in taking it as a non-member?

Not really. Only that you can only take CT1. Students might normally do 2 CTs a sitting.

 

[Zebedee]

I agree, get the CMP and ASET. If you don't want to pay for ASET you can download past papers and examiners solutions from the profession's website.

CMP: http://www.acted.co.uk/Html/paper_cmp.htm

ASET: http://www.acted.co.uk/Html/paper_aset.htm

Disadvantages of not being a member
- lack of colleagues to talk issues through with
- presumably you'll have to pay for materials and exam entry yourself
- students typically go on tutorials paid for by the employer (these might look prohibitively expensive if you're paying yourself and unsure whether you'll pursue an actuarial career)

Good luck

 

[Little Miss Actuary]

Disadvantages of not being a member
- lack of colleagues to talk issues through with
- presumably you'll have to pay for materials and exam entry yourself
- students typically go on tutorials paid for by the employer (these might look prohibitively expensive if you're paying yourself and unsure whether you'll pursue an actuarial career)

Good points that I totally missed!

On point three, I didn't know most employers pay for tutorials! Mine doesn't!

 

[Alax1]

Thanks, I'll go for CMP, not sure at all about ASET.

If things work out well, I will have CT1 and qualify for a few CT exemptions in 2010 (enrolling in a non-actuarial postgrad. degree this year): will that be enough to get employed? (taking into account economic conditions...)

Good points that I totally missed!

On point three, I didn't know most employers pay for tutorials! Mine doesn't!

 

[didster]

Whilst I generally would agree with Zebedee, those disadvantages relate more to not being hired by an actuarial employer. If you aren't working for an actuarial employer (and not likely to be soon), it wouldn't really help if you pay yourself to join as a student.

CMP is the minimum and shouldn't take long by post.

Yes you can't do any more subjects as a non-member, but (presumably) without study days and since it's already July it may not be such a bad idea anyway to do just 1 for a 'feel'

 

[bystander]

Well 25 people passed in April so it is a tried and tested exam now! Shame that unlike the members result you can't work out the pass rate as it didn't show the number sitting.

My one word of caution is that what you study and what you do day to day in the office are different. You may find you enjoy the challenge of the exams, but in an office you wouldn't enjoy it. So even if you only get a short spell on a work experience placement or speak with someone in the job, I wouldn't base your experience of the study as the determining factor of whether you'd enjoy an actuarial career.