Welcome to ST2.
Work Ex is not necessary but by itself might help say by 5%.
Regardless of what others will say to you, I would not rate it any higher.
But just the course notes itself might help by 15%, I guess.
Practicing Past question papers can help a lot more.
Do you know a group of people who are giving ST2 or has knowledge of ST2 or work in a life actuarial field?
Course notes is just a guide and you need someone to discuss it with.
That will be of great help.
Probably people are scaring you with Work Ex but once you get to work you are pretty tied up to a particular work and will take decades to get the big picture that ST2 tries to implant.
If you have a versatile group of people as mentioned, that will come in so handy, more helpful than your own work ex.
To summarise, you need everything, study regularly, get experience insights (I believe only a part of it will be from ur own work ex), discuss with people, practice past question papers, attend a tutorial . Also start praying and stop weekend boozing.
I know people with loads of experience giving ST2 for 5-7 years. (A friend with just 1 1/2 work ex cleared ST1 and ST5 both first shot.)
So, May God help us all !!!
