I wanted to know whether it is worth carrying on writing the SA3 subject as there will be syllabus change in 2009. The SA3 will be split into reserving and pricing papers separately. I have just written the SA3 paper and I have no chance of passing. I am a bit discouraged by the pass rate of the exam (around 25%- 30%) over the last few years. The pass rate for SA4 and SA2 are much higher. Can anyone advise? Why is the subject so difficult?
The proposals to change the GI syllabus involve a lot of new material. But currently, the proposal is to split ST3 into two, not SA3. As for the low pass rate, see the FAQ thread: http://www.acted.co.uk/forums/showthread.php?t=563 I think there are many reasons why people fail this exam - far too many to mention here, I'm afraid. These are discussed more fully in the SA3 tutorial, along with proposals to stop you falling into the same trap. The whole technique of tackling the SA3 exam takes a while to master, which is perhaps why so fewer people take it in the summer.
I don't have any magical answers but here are a few views on your deliberations: 1. What field do you currently work in? Most people will do the SA in their current field in part to draw on experience and secondly employer expectations. So...can you justify a switch to your boss 2. Why was the last sitting a write-off? Insufficient preparation? This can be overcome and you may be jumping the gun to switch. Sometimes, just thinking positive helps. If you go in there thinking Oh people take N attempts to crack this may mean the nerves become unbearable and spoil your performance. 3. Why is the pass rate low? Could it be that there is more material to cover and so the questions come from a far broader spectrum? 4. Switch? Where do you want to work long term? If it is a switch to GI you want then the SA may help. 5. Switch means you are back to studying something fresh. Could be good or bad depending on your track record for first time success. It's such a personal decision, but the above is how I'd tackle the dilemna. By the way, haven't heard about the split. Will it be two seperate subjects or 2 papers but one exam? Anything happening on other papers? It must be possible for this to apply to life too. 2009 is a long way off. Make a decision and go for it. You can be a Fellow by then.
As expected, I have failed..Pass rate of 39% compared to 26% to 30% seems more encouraging..However, this was an easy paper with more bookwork than previous sessions. I don't think we will get such an easy paper soon. So, how did you guys do? Those who pass please provide some tips!!!!
No matter - I failed too Hello, I am afraid you just have to accept these things. Two people I know passed and they deserved it. They worked very hard and I presume their employers helped in more ways than just study leave (eg experience). The key is to pass quickly as FIA (and if you can do that without SA3 more easily then you should) and then use CPD to catch up on GI if necessary. Also, are you sure you put in the necessary work? I did not and I failed. Finally, please bear in mind there will be others with more pressing concerns than exams - for instance serious illness, floods etc... In other words exams help but they are not the be all and end all. As a post-script, I hope we get a detailed report on SA3 which helps us understnad the subject better.
To be honest, I have not worked as hard as I should have. I got panicked in the end because I did not read those recommended readings... Also, there were questions in the past exams where I just could not figure out the answers especially the exposure parts. I do not work in GI but in pensions in a developing country. Perhaps that makes it harder for me..Anyone else working in a different field than GI? I personally felt that those working in GI were at an advantage for this session especially with the second question in SA3 April 2007 (with MCR, ICR etc). How do you guys feel? I am also waiting for the exams solution...
Hi Vinny, If you work in Pensions, why don't you do SA4? Even people who work in GI struggle with SA3 so it probably makes it harder to pass if you don't work in a GI field...
