How to Prepare for the Actuarial Exams
To prepare for the actuarial exams you need to have a good educational background. As with any exam, preparation is the key to passing. In this case, you have not just one, but a series of exams to pass. There is also an ongoing set of exams to remain active in your career.
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Instructions
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Take the college courses you need to become an actuarial. Your advisor can tell you which courses you need to study. However, some of the courses you need are three semesters of calculus, two of statistics, three of economics, one of finance and business communications, as well as actuarial science courses.
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Set a time for the first exam. College students more often than not take the first exam while they are still in college. This is good because the material is still fresh in their minds and most companies that hire actuaries won't do so until they have passed at least one exam.
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Review the syllabus. Anything that may be found on the actuarial exam is covered in the syllabus. Make sure you not only know the material but also understand it. This can be found in a site listed in the Resources section.
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Try the sample exam. There are sample exams that you can download and practice taking. Continue taking the exams until you can pass it in your sleep. This site is also listed in the Resources section.
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Form a study group. There is no better way to learn than bouncing questions and answers off others. By finding other actuarial students you can practice and study together, thereby learning from each other.
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Be prepared for the day of the exam, show up early and be sure you have brought everything that is listed as required. Get plenty of sleep the night before and don't worry if you are well prepared to take the actuarial exams.
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Tips & Warnings
You can take the first two exams and the fourth without declaring a specialty. Depending on what you choose to specialize in, they will have their own third exam.
Be prepared to study a lot and often. There are many exams to become and stay active as an actuarial.
