I have done SA2 five times and failed and I am now pleading for help on ideas to pass it. I first sat for SA2 in September 2013. I had just done ST2 that April and passed (1st attempt) and thought to do SA2 while the assumed ST2 knowledge is still fresh in my mind. That did not help. Since then it has been stab after stab at this exam with no success. Over the numerous attempts, I have used various study methods and materials:- I have read through the notes severally I have done past papers since 1999, and done them actively not just reading them like notes I have been keeping myself updated on topical issues I have used flashcards I have done three ActEd Mock exams and had them marked I have used ASET and even Mini-ASET at some point I have done exam counselling complete with report and telephone call and implemented their recommendations Hell, at some point I even appealed my exam result after getting an FA after putting all the above effort After a couple of consecutive failed attempts I took a break from it and did my second ST which I passed effortlessly, went back to SA2 and still no success. My grades during these attempts were 3 FAs and 2 FBs (they hadn't started publishing marks then). I am now buying new notes for the next year (yet again) as the latest I bought were for 2015. Also, due to the major changes in the syllabus I am wondering to which extent past papers will be a useful revision tool for this. If ever I am going to pass this exam, I'm going to need special help. So please, those who have passed this exam recently, and especially after failing it, what approach did you take?
tutorials? I know more tricky for you due to location, but might be worth splashing out on at this stage. There's a Live Online Revision tutorial for SA2 according to the ActEd bulletin, too.
When you see a 10 mark question do you think that's 10 points or 20 points I need to make? I assumed 20 and stopped caring about writing complete sentences, just listed lots of points.
I'm not convinced lists help but as headers to develop your ideas they are a good start. The SA level is about application of your knowledge. Read questions very carefully and understand the scenario well so that you write answers that fit the brief. If you can pinpoint certain weaknesses that you have, this may be a good pointer to revision and practise need. Enquire whether there is any one on one support available at acted. It won't be cheap but in your case may be what best suits needs. Good luck.
I didn't mean lists as in remembering lists. I was referring to an exam technique of not bothering to write nice paragraphs as much, best to list points and score more!
Yes long winded sentences aren't the way to go. Someone told me be a points Hoover. Write succinctly. Make each point clear. Ensure they are separate. Do not repeat yourself. Add depth where relevant. Works with all later exams as an answer style. Finally, know your stuff. Then apply well.
Hi Flowesh I certainly feel your pain. I had multiple attempts in SA3 and got FAs/FBs and now being within 5 marks of the pass mark! I have now decided to cut my losses and move to SA2. My strategy is not to buy the latest full CMP, but rather the Core Reading and also focus on the recommended reading list. I am also planning to buy MyTest and possibly the Live Online Resivion Tutorial. Hopefully I make it the first time!
There are a couple of chapters in SA2 that relate to company reporting, accounting stuff. For me it was a tough decision what to do on those. They're really dull and I don't think they've been examined for at least 10 years. Yet no one can responsibly advise students not to bother with these chapters as they could potentially come up. If that material came up in a 50 mark question then many people would struggle. If IFoA have no intention of examining this material then why do they still exist in the core reading? It's just wasting people's time.
Thanks a lot for your ideas guys. In one of my mock exams the marker said I needed to get more detailed and granular in my answers but thereafter in the exam counselling the examiner said I need to write shorter answers. I'm happy to try out MyTest this time but if I get that is there need for the Online Revision as well? I also quite like the idea of getting one one support from ActEd tutors. Will contact them to check. I know it would cost me much but I have already spent thousands of pounds resitting this exam and buying all manner of study materials so any extra expenditure would not be so painful if it would help me pass. I cannot change subjects because in my workplace it is thoroughly pertinent that I qualify as a life actuary. And I do love life insurance more than the other subjects though it clearly doesn't love me back. I do know my stuff well as I have been going through the notes all this while in addition to working in life assurance consultancy for the past 5 years. In the first 2/3 attempts I think I figured out my weaknesses and worked on them but after that I honestly don't know why I continued to fail.
Very different beasts. ActEd site has more details of each. MyTest is online quickfire questions. Online Revision day is a tutorial based on past exam questions, with a tutor etc (just online rather than face to face).
Just an observation FloWelsh, no one ever asks you what SA you did. So from that perspective doing sa2 doesn't make you a life actuary or sa4 a pensions actuary. It's your practical knowledge that makes the difference. I agree though if you work in life, it's sensible to stick with sa2 as you clearly aren't showing an interest in wanting to switch discipline.
I have finished reading the notes and want to get on with revision. I found reading the notes quite beneficial, there was a lot to learn even though I had read them severally in my previous attempts. I intend to go over them again say in March - but I need to ask, how many times is too many for reading notes, considering the need to focus on questions practice? Also, considering I have done the past papers before, what more can I use to get questions practice?
Reading is a passive activity albeit you are at the time retaining material. However how good is your memory or retention? Active learning is better because it tests your application and use of the material. You don't always need to re read the notes in entirety - although that covers everything possible. I'd say get stuck into questions. Where you notice your knowledge has gaps or is weaker, return to the notes of these bits to refresh your knowledge. Whilst reading take your own notes where you struggle. Paraphrasing rather than strict word for word learning can help. Summarising your extra reading and articles highlighting how it relates to the course may also help. But remember they examine the course so don't stray too far. For extra qns is there more than one series of assignment questions? You've made a positive start. Keep going and good luck
It is really hard to give any kind of advice about time spent on course notes v. question practice: both are necessary, and it depends on what you might be finding difficult. Do you have a feel for what your weaknesses might be? Anyone taking SA2 definitely needs to focus a reasonable amount of time on developing and practising different idea generation techniques, as getting good breadth of (tailored) answer points is very important. And this can be done through a combination of the course notes together with question practice. In terms of past papers, have you done 402 past papers as well as all of the available SA2 papers? For those questions where regulation has changed, try altering the context (e.g. to Solvency II) and work out how the answer should vary. You also might want to look at some SA1 and even SA3 past papers, as there are some similar themes that can come up (capital management, Solvency II etc) - again, try adjusting the context to be more SA2 specific. There may well be many other suggestions & it will be good to hear what has worked for others?
Wise words from bystander! Also note that there are 3 mock exams available for SA2 which you may find useful, if you don't already have them.
Hi FloWesh As well as making sure you have been marked in line with the published process, have you submitted a Subject Access Request to the Institute for your exam marks and related data? You may find the mark breakdown by each part of each question helpful in your revision, as the average, moderated mark you have been given will hide a lot of helpful details. Instead, the breakdown by each part of each question will give you an idea of where you may be dropping marks without realising. More details can be found on the thread covering the exam marking issues: https://www.acted.co.uk/forums/index.php?threads/exam-marking-problems.12902/
How to achieve balance between depth and breadth in answers Guys, thanks for your continued responses here. Now I moved on to question practice with a bit of course rereading here and there. I have done a mock exam and had it marked and the most critical feedback was that I need to get more depth/detail into my answers. I find it challenging to implement this feedback because in one of my previous failed attempts I got exam counselling and one of the areas of improvement suggested was that I needed to cover more breadth and less detail in my answers. Why such differing feedback? Are the marking practices/schedules between IFoA examiners and Acted mock exam markers that different? How did some of you manage to strike that balance between depth/detail and breadth in your exam answers? Considering the time constraints and the risk of getting lost in unnecessary detail. And also the marks on offer. I find that if there are many marks on offer, my instinct is to go for breadth.
You can get different views like this if you take them in isolation, rather than look at why the comments were made. Typically the difference in approach lie in the question and how it's phrased. What instruction verb: discuss, describe etc. I also try to think which are the key points in my answer. The more critical the more I'd add detail to those elements but less on the other points. Likewise that's how I decide on order to write. Big issues/ideas first. Retread the mock questions and see if you can find the difference. I agree it's difficult and yes if there are lots of marks and the question is asking for say considerations in a scenario, then breadth is probably the way to go. If it's a process there are only so many steps so that implies depth to me. Hope this sitting is the one you nail it! Good luck.
Hi StudentActuary_02, I've noticed you encouraged raising a Subject Access Request several times on these forums. I've just failed SA2 for the second time therefore considering raising an SAR. Can you please tell me how you applied for one and how long did it take before you got a response?
Hello FloWesh Having also sat some of the written papers multiple times I feel your pain. I took a turning point when my managers and peers offered to mark practice papers for me. The feedback they gave helped me to understand what it was that markers were looking for, in particular, short and precise answers that were relevant to the question. The breadth vs depth was a really big issue for me but I seemed to be more successful when making a broad point and then adding two or three examples to demonstrate my understanding and tying my answer back to the question. This also helped to avoid my repeating myself. The other issue for me was that I felt that I knew the content inside out - like you I read the notes over and over again and they made sense. But this isn't enough if you can't demonstrate you know the stuff in the exams, and this is why doing practice papers is so important. Unfortunately, the nature of the exams means that technique can be more important than understanding. It is also important not to get disheartened! Take lots of break from study, let yourself be distracted by other things and don't feel guilty when you are not studying! Give yourself time to let your learning sink in then when you come back to it it will become easier to apply in practice questions. Keep going and best of luck!
