Hello, I am an actuarial technician (unsupported in the exams) working for a large life office. I am considering taking CT1 (and possibly CT4) in April '09. What is the role of the mentor in actuarial study support and how useful is it? I am considering approaching my manager who is a qualified to act as a mentor while I self-fund some exams and apply for study support in the future. Your thoughts, please.
Firstly, you don't need one to pass the exams. BUT having someone to chat over problems with can help if you can't afford marking/tutorials. No-one is duty bound to help so you need to be careful how you ask and both be clear what you want & whats available. Work based skills is different. You do need a supervisor to look over your attempt at qns for this bit of your training. See the actuarial website for more detail
Regarding the study side of the actuarial courses (i.e. not the work-based skills bit) I would say that you don't need a mentor. The Acted notes are excellent and provide a very clear, thorough grounding in what you will need for the exam. They are far superior to what you could find in just about any textbook, and (I've found) come in at just the right level. Acted also provide study aids such as CDs and flashcards that I have found invaluable. Finally, the online webinars that Acted offer are perfect for any remaining niggling issues. No, I'm not being paid by Acted . I joined the actuarial profession a year ago after having had a year's experience as an actuary about 8 years prior to that (so essentially I was almost starting from scratch in terms of knowledge). Since then I've finished the CT and ST subjects, and CA3, with no fails, thanks mainly to the support I've had from Acted. I've not had to bother anyone in work with a single question about my studies. My opinion: a combination of Acted's offerings and your own hard work is enough to get through the exams. Other students with different experiences may disagree, of course.
