Restarting the exams

I'm back in actuary once more after a 2 year break, working as a consultant. It has reignited my interest in developing an actuarial career. In my early 20s I wasn't motivated enough to do the exams, but now I am!

I have decided to sit 3 exams (2 of them resits) off my own back in September and really make an effort to pass them. If I end up failing or hating the experience then at the end of this year I will put a permanent line under actuary and seek alternative careers.

In order to sit 3 exams in September it will cost the following

Join institute £418
Exam fees £480
Notes £330 (combined materials pack)
Total cost £1228

I'll get tax relief on this.

A few questions:

1. I'll want to sit CT6, CT7, CT8. Having looked very briefly at the syllabus, it looks the same as for the old 103, 107, 109 for which I already have notes for. Should I bother getting any new notes this time?

2. Should I pass these three, and work in actuary for a long time, do you think this cost will be negligible in the long run? (Just now it seems a lot- I could take that money and go on a nice holiday somewhere!)

Regards

scarlets

 

CT6 is a combination of old subject 106 (mainly) and a small part of 103. If you have notes for 106 you will get the CT6 notes at a reduced price. I would advice on ordering new notes for the new strategy.

CT8 is a combination of old subject 109 (mainly) and a small part of 103. If you have notes for 109 you will get the CT8 notes at a reduced price. Quite some change to the notes so again, I would advice on new notes.

Can't say much about CT7, I've been exempted from it.

Good luck.
Erik

By the way, won't your employer cover your subscription costs?

 

cheers Erik. I'm just working a short-term contract of which exams wasn't part of it. However if I do get offered a renewal I will mention my desire to restart exams and hopefully something can be arranged.

 

AFAIK, CT7 hasn't really changed much. In CT6, some topics have been moved to the ST exams; if you don't order new notes, you need to be very aware of what is and isn't on the new syllabus.

 

CT8 has more martingale that 109. I wouldn't say it was harder but some different material.

As for if it is worth it. I can't believe I am doing this five years later on.
I think if you like the job you will stay otherwise you will move back on.

As an aside are you in the same branch as you were last time?

Was in Insurance before, now pensions. I find the job preferable.