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help required to choose between STs and SAs

I

Ivanhoe

Member
Hi guys,

I was unable to decide whether to take ST5 or ST6 and then consequently SA5 or SA6. I had an exemption in CT8 and I am at a disadvantage of not knowing the technical content of CT8. Also, I work in employee benefits and do not work in Investments. I have completed the three levels of the CFA Program and so know something about investments. However, the CFA Program hardly had any technical content. Can you help me reach a decision as to which one of the above mentioned STs and SAs should I opt for?

Regards,
 
I think the only sensible answer here is that you need to have a dig through the syllabi and see whether you think the pre-requisites are do-able. If you've been exempted from CT8, then presumably the Profession thinks you know the material to a reasonable standard.
 
St6

I think you may have a chance with ST5 but ST6 is another matter - its really technical - the most technical of all ST subjects. Knowledge of CT8 will go some way.

ST5 syllabus has some stuff on option valuations & Black Scholes but you find that this is what links the most with CT8 but its a only a relatively small part of it. So I say ST5.
 
Thank you for the prompt responses,Sonnyshook and Calum! Honestly, I am tired of taking exams and not as much keen to dig up stuff from CT8. I think I should go for ST5. By the way, what is your opinion about the SAs?

As an aside, I am working for a small consultancy which allows me time to study. Honestly, I want to move to one of the Anglosaxon nations (I stay in India). I was just holding myself back in the consultancy so that I could complete my exams. However, I am missing out on some valuable corporate experience and have at times thought only about going for the associateship. Do you think that completing all exams would really matter or I should just go for some good work experience with the associateship, if I intend to work for some reputed consultancy abroad?By the way, I am in my early 30s. I would be glad to have your opinions.

Regards,
 
An important fact not mentioned above is that ST5 knowledge is expected for both SA5 and SA6, whereas ST6 is expected for neither.
 
choices

Hi, All the comments that have been added above sem very sensible in my humble opinion. ST6 doesnt seem ideal for you and ST5 might be better. SA6 is very hard in the UK if you dont work in the investment field because almost all the questions are about current business trends in the UK investment consulting and manager research environment. SA5 is possible as the core reading does give you something to get your teeth into. A general awareness of financial matters is required rather than a very detailed and specific knowledge of the consulting environment (which is what you need for SA6). As for the decision about where to work, I couldnt begin to advise there as I have no experience on the differences. Sorry.
 
Didster and Mr. Mckee, Thank you so much. That was very useful!
 
Hi Colin

This was your answer to my question (SA5 or SA6?) almost one year ago
(you can find it at http://www.acted.co.uk/forums/showthread.php?t=4348):

"In the past I have always agreed with your analysis. SA5 has core reading which is examinable and gets you some marks. SA6 has very little copre reading and has always been about current issues in the investment consulting arena and is quite hard to pass if you are not up to date with these issues. So I would recommend SA5. Recently I must admit, the SA5 exam has had less marks for core reading and this has been associated with a falling pass rate. So its a tougher call now, but on balance I would still say that if you are not in consulting or fund management, dont do SA6 - rather do SA5.
Hope this helps"

There have been two exam sessions since then. Can you please tell us whether SA5 continues to become "unpredictable" (ie with less marks from core reading) or whether during the last two sessions someone with good knowledge of the core reading had a good chance of passing SA5?

Thanks in advance.

Mseng
 
SA5 and SA6

Hi, The SA5 exam still has parts of questions that relate to core reading. For example in September 2010 there were quite a few marks for discussing product risk, the role of a clearing house, etc. April 2011 had less but it seems to rise and fall. However there are some marks. SA6 has almost no marks for core reading based qustions, and the exam targets the current business environment in the actuarial consulting and manager research industry. Hope this helps.
 
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