I'm thinking about studying for them, but I'm trying to figure out how valuable they would be to me. I'm planning on becoming an actuary, but my interests lean more heavily toward things like derivatives and other investments, things of that nature. I looked over the level 1 practice questions, and I know most of the concepts that are presented, so I don't think it'd be too bad for me to prepare for at least that one and see how it goes...any suggestions?
Has anyone taken the CFA exams?
- Thread starter hopesfall
- Start date
It will take you approximately 3 years to get it...at least a year and a half. While I don't have my CFA yet, I've decided to get my MBA first. Yes, MBAs are a "dime a dozen" but at a lot of companies, it is required for advancement. Additionally, I thought, if nothing else, the MBA would help me prepare for the CFA.
I'm not sure if any of this helps, but I have read that the average CFA makes in the area of $160,000-$180,000 a year.
I'm not sure if any of this helps, but I have read that the average CFA makes in the area of $160,000-$180,000 a year.
[quote name='GameDude']It will take you approximately 3 years to get it...at least a year and a half. While I don't have my CFA yet, I've decided to get my MBA first. Yes, MBAs are a "dime a dozen" but at a lot of companies, it is required for advancement. Additionally, I thought, if nothing else, the MBA would help me prepare for the CFA.
I'm not sure if any of this helps, but I have read that the average CFA makes in the area of $160,000-$180,000 a year.[/quote]
An MBA will only help you prepare for the CFA if you specialize in Finance. Otherwise you will be better off taking a CFA prep course.
I'm not sure if any of this helps, but I have read that the average CFA makes in the area of $160,000-$180,000 a year.[/quote]
An MBA will only help you prepare for the CFA if you specialize in Finance. Otherwise you will be better off taking a CFA prep course.
[quote name='kell']An MBA will only help you prepare for the CFA if you specialize in Finance. Otherwise you will be better off taking a CFA prep course.[/QUOTE]
I forgot to add that. My focus is finance. I also chose the MBA because that is more general and if I decide to leave the financial world, it would still be beneficial.
I forgot to add that. My focus is finance. I also chose the MBA because that is more general and if I decide to leave the financial world, it would still be beneficial.
propeller_head
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Actuary
City Salary
Atlanta, GA $76,015
Boston, MA $84,636
Chicago, IL $81,737
Dallas, TX $77,291
Denver, CO $79,298
Houston, TX $78,574
Irvine, CA $83,319
Los Angeles, CA $85,553
Miami, FL $75,799
Minneapolis, MN $80,087
National $75,062
New York, NY $89,575
Philadelphia, PA $80,453
Phoenix, AZ $75,651
Pleasanton, CA $87,338
San Diego, CA $80,719
San Francisco, CA $89,399
Seattle, WA $83,407
St. Louis, MO $76,983
Tampa, FL $72,973
Washington, DC $80,410[quote name='GameDude']It will take you approximately 3 years to get it...at least a year and a half. While I don't have my CFA yet, I've decided to get my MBA first. Yes, MBAs are a "dime a dozen" but at a lot of companies, it is required for advancement. Additionally, I thought, if nothing else, the MBA would help me prepare for the CFA.
I'm not sure if any of this helps, but I have read that the average CFA makes in the area of $160,000-$180,000 a year.[/quote]
Hmm, I suppose the money is pretty good
. I was on a CFA exam message board and the general idea I got from the people there is that they were taking their CFA exams as sort of an intermediary between their undergrad work and their MBA. I'd like to get my MBA as well, but I think I'll end up chipping away at that while I work. If you don't mind me asking, what are you planning to do in your career? I know you mentioned your focus for your MBA was on finance, but what do you do now and what do you plan on doing in the future? Just curious. Thanks!
I'm not sure if any of this helps, but I have read that the average CFA makes in the area of $160,000-$180,000 a year.[/quote]
Hmm, I suppose the money is pretty good
. I was on a CFA exam message board and the general idea I got from the people there is that they were taking their CFA exams as sort of an intermediary between their undergrad work and their MBA. I'd like to get my MBA as well, but I think I'll end up chipping away at that while I work. If you don't mind me asking, what are you planning to do in your career? I know you mentioned your focus for your MBA was on finance, but what do you do now and what do you plan on doing in the future? Just curious. Thanks!
man I'm hella studying to be an actuary and I dont even really kno anything about what CFA is...
hell... I was actually just studying a few minute ago (I gots me an exam FM in may)
but my friend wants me to go the CFA route becoz she's all into econometrics and shit, so she loves the money.
but serious tho, what exactly is CFA???
hell... I was actually just studying a few minute ago (I gots me an exam FM in may)
but my friend wants me to go the CFA route becoz she's all into econometrics and shit, so she loves the money.
but serious tho, what exactly is CFA???
[quote name='hopesfall']Hmm, I suppose the money is pretty good . I was on a CFA exam message board and the general idea I got from the people there is that they were taking their CFA exams as sort of an intermediary between their undergrad work and their MBA. I'd like to get my MBA as well, but I think I'll end up chipping away at that while I work. If you don't mind me asking, what are you planning to do in your career? I know you mentioned your focus for your MBA was on finance, but what do you do now and what do you plan on doing in the future? Just curious. Thanks![/QUOTE]
I currently work at a large financial services company in their stock option department. The job is incredibly easy, and it pays decently (not great - around $60,000 a year)...but they're paying for my MBA. I'd eventually like to become an analyst, but the more I learn about it, the more I learn how corrupt and stressful the job is. Those are things I can easily live without. Overall, for the next year or so, I think I'll be happy. I live in Ohio so $60,000 a year is above average.
. I was on a CFA exam message board and the general idea I got from the people there is that they were taking their CFA exams as sort of an intermediary between their undergrad work and their MBA. I'd like to get my MBA as well, but I think I'll end up chipping away at that while I work. If you don't mind me asking, what are you planning to do in your career? I know you mentioned your focus for your MBA was on finance, but what do you do now and what do you plan on doing in the future? Just curious. Thanks![/QUOTE]I currently work at a large financial services company in their stock option department. The job is incredibly easy, and it pays decently (not great - around $60,000 a year)...but they're paying for my MBA. I'd eventually like to become an analyst, but the more I learn about it, the more I learn how corrupt and stressful the job is. Those are things I can easily live without. Overall, for the next year or so, I think I'll be happy. I live in Ohio so $60,000 a year is above average.
[quote name='JEKKI']man I'm hella studying to be an actuary and I dont even really kno anything about what CFA is...
hell... I was actually just studying a few minute ago (I gots me an exam FM in may)
but my friend wants me to go the CFA route becoz she's all into econometrics and shit, so she loves the money.
but serious tho, what exactly is CFA???[/QUOTE]
Charted Financial Analyst. How old is your friend? Where is she...and is she single?
hell... I was actually just studying a few minute ago (I gots me an exam FM in may)
but my friend wants me to go the CFA route becoz she's all into econometrics and shit, so she loves the money.
but serious tho, what exactly is CFA???[/QUOTE]
Charted Financial Analyst. How old is your friend? Where is she...and is she single?
I took P in august last year. I wanted to do FM in november but they didn't release the august test results until after the test registration deadline. bastards!! I passed it tho.
anyway how have u been preparing yourself for FM???
it sux for me coz I'm broke and jobless, and I'm not in school either so I dont have the benefit of financial aide. So when I looked at the practice exam for FM I was like "aw hell naw~! I don't kno any of this shit!"
and that was only 2 weeks ago!! So I had to shell out ~$70 for a got damn text book, and now I gotta learn all this new material on my own.
It sucks even more coz I dont have any solutions manual or teachers, so certain problems straight up stump me!!
hopefully I can finish the book in good time tho, coz at least the practice exams have solutions.
anyway how have u been preparing yourself for FM???
it sux for me coz I'm broke and jobless, and I'm not in school either so I dont have the benefit of financial aide. So when I looked at the practice exam for FM I was like "aw hell naw~! I don't kno any of this shit!"
and that was only 2 weeks ago!! So I had to shell out ~$70 for a got damn text book, and now I gotta learn all this new material on my own.
It sucks even more coz I dont have any solutions manual or teachers, so certain problems straight up stump me!!
hopefully I can finish the book in good time tho, coz at least the practice exams have solutions.
[quote name='JEKKI']I took P in august last year. I wanted to do FM in november but they didn't release the august test results until after the test registration deadline. bastards!! I passed it tho.
anyway how have u been preparing yourself for FM???
it sux for me coz I'm broke and jobless, and I'm not in school either so I dont have the benefit of financial aide. So when I looked at the practice exam for FM I was like "aw hell naw~! I don't kno any of this shit!"
and that was only 2 weeks ago!! So I had to shell out ~$70 for a got damn text book, and now I gotta learn all this new material on my own.
It sucks even more coz I dont have any solutions manual or teachers, so certain problems straight up stump me!!
hopefully I can finish the book in good time tho, coz at least the practice exams have solutions.[/quote]
Yeah, I should have found the solutions manual for the text (Broverman, right?), but I was cheap haha. I took a class in school that was supposed to cover the FM material, but we stopped before working with chapters 7 and 8, and we didn't touch anything that is in the other book they recommend (Derivatives Markets). So I'm studying for that part on my own. The other stuff I had forgotten a bit of, since I finished the class in December, but I'm getting back into it now and I think I'll be ready for May. I just work on the practice exams, mostly, and look at random problems from the book to make sure I retain everything. How was P? Have you started looking for jobs/internships yet?
anyway how have u been preparing yourself for FM???
it sux for me coz I'm broke and jobless, and I'm not in school either so I dont have the benefit of financial aide. So when I looked at the practice exam for FM I was like "aw hell naw~! I don't kno any of this shit!"
and that was only 2 weeks ago!! So I had to shell out ~$70 for a got damn text book, and now I gotta learn all this new material on my own.
It sucks even more coz I dont have any solutions manual or teachers, so certain problems straight up stump me!!
hopefully I can finish the book in good time tho, coz at least the practice exams have solutions.[/quote]
Yeah, I should have found the solutions manual for the text (Broverman, right?), but I was cheap haha. I took a class in school that was supposed to cover the FM material, but we stopped before working with chapters 7 and 8, and we didn't touch anything that is in the other book they recommend (Derivatives Markets). So I'm studying for that part on my own. The other stuff I had forgotten a bit of, since I finished the class in December, but I'm getting back into it now and I think I'll be ready for May. I just work on the practice exams, mostly, and look at random problems from the book to make sure I retain everything. How was P? Have you started looking for jobs/internships yet?
no, the text I got is Theory of Interest by Kellison.
upon searching amazon, there's only one dude who has a solutions manual, and he wants $50, I can't do that!!!! I wanna be employed where the company will provide the books for you!
but yeah, Ive been applying jobs non-stop since october when I got my test results, but these companies with their websites and their 'career' pages are a bitch!!! You gotta submit applications/resume/coverletter using forms and shit and they never get back to you, EVER!! My recruiter at DW Simpson tells me companies are reluctant to give someone a chance if they're not local for convenience reasons, and all these positions I apply for are out of state. I secured one interview so far in Los Angeles, but they called me back the next day saying "uhhh well actually we don't need a new hire at the moment. Why don't you apply us again after your next exam?" Thankfully I finally got another chance, it's a phone interview this thrusday.
and exam P is alright. It's all probability, which fortunately was shit I learned in school. I only studied for 4 weeks and did well, but since the material was somewhat familiar I made good progress. The way things are going now tho, not so good!!
edit: score!!! I found a solution manual http://www.actexmadriver.com/productdetails.cfm?PC=1053
the problems are just stumping me too much, and I'm only on chapter 1!!! I'm only going to read now, no problems until this book arrives (which will hopefully be this week~!!)
it costed me $31.50, but there is one on ebay for only 0.99 auction price. Still, the auction ends in 5+ days and I can't wait that long!!!
upon searching amazon, there's only one dude who has a solutions manual, and he wants $50, I can't do that!!!! I wanna be employed where the company will provide the books for you!
but yeah, Ive been applying jobs non-stop since october when I got my test results, but these companies with their websites and their 'career' pages are a bitch!!! You gotta submit applications/resume/coverletter using forms and shit and they never get back to you, EVER!! My recruiter at DW Simpson tells me companies are reluctant to give someone a chance if they're not local for convenience reasons, and all these positions I apply for are out of state. I secured one interview so far in Los Angeles, but they called me back the next day saying "uhhh well actually we don't need a new hire at the moment. Why don't you apply us again after your next exam?" Thankfully I finally got another chance, it's a phone interview this thrusday.
and exam P is alright. It's all probability, which fortunately was shit I learned in school. I only studied for 4 weeks and did well, but since the material was somewhat familiar I made good progress. The way things are going now tho, not so good!!
edit: score!!! I found a solution manual http://www.actexmadriver.com/productdetails.cfm?PC=1053
the problems are just stumping me too much, and I'm only on chapter 1!!! I'm only going to read now, no problems until this book arrives (which will hopefully be this week~!!)
it costed me $31.50, but there is one on ebay for only 0.99 auction price. Still, the auction ends in 5+ days and I can't wait that long!!!
[quote name='JEKKI']no, the text I got is Theory of Interest by Kellison.
upon searching amazon, there's only one dude who has a solutions manual, and he wants $50, I can't do that!!!! I wanna be employed where the company will provide the books for you!
but yeah, Ive been applying jobs non-stop since october when I got my test results, but these companies with their websites and their 'career' pages are a bitch!!! You gotta submit applications/resume/coverletter using forms and shit and they never get back to you, EVER!! My recruiter at DW Simpson tells me companies are reluctant to give someone a chance if they're not local for convenience reasons, and all these positions I apply for are out of state. I secured one interview so far in Los Angeles, but they called me back the next day saying "uhhh well actually we don't need a new hire at the moment. Why don't you apply us again after your next exam?" Thankfully I finally got another chance, it's a phone interview this thrusday.
and exam P is alright. It's all probability, which fortunately was shit I learned in school. I only studied for 4 weeks and did well, but since the material was somewhat familiar I made good progress. The way things are going now tho, not so good!!
edit: score!!! I found a solution manual http://www.actexmadriver.com/productdetails.cfm?PC=1053
the problems are just stumping me too much, and I'm only on chapter 1!!! I'm only going to read now, no problems until this book arrives (which will hopefully be this week~!!)
it costed me $31.50, but there is one on ebay for only 0.99 auction price. Still, the auction ends in 5+ days and I can't wait that long!!![/quote]
Yeah, I'm having a lot of trouble finding anything since this will be my first exam. My grades and references are all great though, so hopefully it'll work out in the end. Congrats on the phone interview and the solutions manual :lol:. If you find any problems you want to work on or go over sometime, let me know, because I'm always up for some extra studying haha. Have you gone to any of the forums on actuary.com (I think)? I think people post questions/answers on there too.
Oh, and for P, how much of the work is done with..."advanced" probabilities? I've taken a basic stats/probs course, but I start a 3-class sequence in the fall that is supposed to be much more in-depth, but I'd like to study and take P in November if I can learn the material in time, rather than wait for next May.
upon searching amazon, there's only one dude who has a solutions manual, and he wants $50, I can't do that!!!! I wanna be employed where the company will provide the books for you!
but yeah, Ive been applying jobs non-stop since october when I got my test results, but these companies with their websites and their 'career' pages are a bitch!!! You gotta submit applications/resume/coverletter using forms and shit and they never get back to you, EVER!! My recruiter at DW Simpson tells me companies are reluctant to give someone a chance if they're not local for convenience reasons, and all these positions I apply for are out of state. I secured one interview so far in Los Angeles, but they called me back the next day saying "uhhh well actually we don't need a new hire at the moment. Why don't you apply us again after your next exam?" Thankfully I finally got another chance, it's a phone interview this thrusday.
and exam P is alright. It's all probability, which fortunately was shit I learned in school. I only studied for 4 weeks and did well, but since the material was somewhat familiar I made good progress. The way things are going now tho, not so good!!
edit: score!!! I found a solution manual http://www.actexmadriver.com/productdetails.cfm?PC=1053
the problems are just stumping me too much, and I'm only on chapter 1!!! I'm only going to read now, no problems until this book arrives (which will hopefully be this week~!!)
it costed me $31.50, but there is one on ebay for only 0.99 auction price. Still, the auction ends in 5+ days and I can't wait that long!!![/quote]
Yeah, I'm having a lot of trouble finding anything since this will be my first exam. My grades and references are all great though, so hopefully it'll work out in the end. Congrats on the phone interview and the solutions manual :lol:. If you find any problems you want to work on or go over sometime, let me know, because I'm always up for some extra studying haha. Have you gone to any of the forums on actuary.com (I think)? I think people post questions/answers on there too.
Oh, and for P, how much of the work is done with..."advanced" probabilities? I've taken a basic stats/probs course, but I start a 3-class sequence in the fall that is supposed to be much more in-depth, but I'd like to study and take P in November if I can learn the material in time, rather than wait for next May
.yeay I seen the forums but I donno... I dont wanna hang around there and wait for dudes to help me. Plus I only allocate so much time out of my day for studying, and I dont do it in close proximity to my computer so I wouldnt wanna try some kinda pseudo studying while I browse the web in my free time. At least not now, maybe as the exam gets closer.
as far as probability, I donno what u mean by 'advanced.' Just take the practice exam P available at beanactuary.com. It had everything I needed to kno for the exam EXCEPT for mutual exclusiveness, but I remembered what that was so it was okay!
as far as probability, I donno what u mean by 'advanced.' Just take the practice exam P available at beanactuary.com. It had everything I needed to kno for the exam EXCEPT for mutual exclusiveness, but I remembered what that was so it was okay!
bread's done