I am extremely happy to announce that I have completed all 13 subjects from IAI with specialization in SP6: Financial Derivatives, SP5: Investments & Finance and SA7: Investments & Finance Advanced. I completed this journey in 3.87 years at age of 21.88. I had faced Failure 3 times (CM1, CS1, SP5) & secured AIR 1 4 times (CS2, SP6, SP5, CP2). I completed all the subjects using self study only. In my LinkedIn posts, I have explained the lessons that I learnt during this journey. I am sharing the same here. 1. When you want something very immensely, the entire universe conspires to help you achieve it. I sincerely wanted to complete actuarial science with Investment specialization, but was unsure how I would complete it. I did not worried about my capabilities and focused only on my interests. 2. Every person is born twice - the second time is when you earn a place among the people forever. On 12 July 2018 my ACET results came and on 19 July 2018 I became a Student Member of IAI. Since then my life has never been the same again. Similarly on 19 July 2022 I became a Associate Member of IAI & I know that my future will always be secure irrespective of short term struggles. 3. You will never be able to escape from your heart. So it's better to listen to what it has to say. After failing CM1 & CS1 in June 2019, in November 2019 logically I should have appeared and passed only CS1. But since my heart was into Financial Engineering, I studied CM2 in 2.5 months & passed CM2 & CS1 in November 2019 Exam. This gave me the confidence that yes, I can become an Investment Actuary. Similarly after failing SP5 in November 2020, I should have appeared and passed SP5 in March 2021. But again because my heart was into Financial Derivatives and I wanted to secure my career in Front Office, I studied SP6 in less than 3 months and passed SP6 in March 2021 with AIR 1. 4. Success or failure is an outcome of stochastic process - one must focus on progress and learn from their successes & failures. My initial failures in CM1 & CS1 taught me how to maintain progress in actuarial exam passes - the key takeaway was extensive practise of past exam papers under exam conditions is compulsory for good marks. Also one must simply ignore the noise that society makes about your successes & failures and simply focus on your next steps. 5. Never think about whether any event was done in past by others or not - if you want to do something just try it. Even though I knew that CP1 was a vast subject equivalent to 2 SP Subjects, I attempted it with CP2 & CP3 in March 2022. Earlier I had never passed 3 subjects in single attempt, but still I decided to try it because in my opinion "A Fail Result is always better than No Result". I passed CP1, CP2 & CP3 in First Attempt in March 2022 with AIR 1 in CP2. The summary of my journey is available at: https://iai35861.blogspot.com/2021/09/iai-links_26.html
I forgot to add this graph in earlier post, so adding here. First 3 years my passing rate was 2 subjects per year, but in 4th year I tripled it to 6 subjects in a year (excluding CB3)
So much hard work summarised in that one illustration! Do u mind me asking if u were studying full-time for part of the duration , or were u studying in parallel to working for an employer?
From October 2020 to March 2022 for 18 months I had taken Career Transition break and stayed at home to complete actuarial studies. Earlier from July 2018 to September 2020 I was pursuing CA Course from Institute of Chartered Accountants of India and working in accountancy firm. You may connect with me on LinkedIN at https://www.linkedin.com/in/shreyash2022/
Hello, congrats on your achievements! If you don't mind me asking, are you currently working in the actuarial field? And was it easy to find a job after having done all the exams but with little practical actuarial experience? I was advised back in the day to do the exams while working, as companies often do not prefer students who are well-advanced in the exams but do not have practical experience alongside. So it would be great to hear how it has been for you, if you wish to share. Thanks!
In India supply of few exam passed Actuarial students is very high, so passing more exams is always beneficial. Currently I am working in Institutional Trading as Quant Researcher, here education and degree is less important and skills are more important. In fact my manager preferred me because I had passed most of my exams and I would not require exam leaves. It varies from company to company
