[JohnnySPal]

(Original post by GilbertLam)
Ok I'm going to order the pack in a few days time. So just to clarify: all I need to study for CT1 is the Combined Materials Pack, the actuarial tables and a suitable calculator? Is there anything else that's really obvious that I'm missing out? Do I need any of the stuff on that website such as core reading etc...or is everything included in the pack? Is this the correct actuarial table http://www.actuaries.org.uk/members/...lications_shop

I just checked the ActEd website and the Combined Materials Pack is $114 (I don't have a pound sign), does this look right to you?

Also where can I find the exam deadline for April 2010?

Thank you so much for you help!

£114 is correct, yeah. You can buy the tables by opening that link and clicking on Formulae & Tables on the side bar.

The exam deadline will be on the institute's website (http://www.actuaries.org.uk/students...ant_dates#2010)

[GilbertLam]

The damage has been done. I paid $114 for Combined Materials pack for CT1 and $19 for actuarial tables. Now I need a suitable calculator. That's my 1 week's worth of salary out the window lol.

[GilbertLam]

(Original post by JohnnySPal)
£114 is correct, yeah. You can buy the tables by opening that link and clicking on Formulae & Tables on the side bar.

The exam deadline will be on the institute's website (http://www.actuaries.org.uk/students...ant_dates#2010)

Only the actuarial tables have arrived at the moment, and looking through it, all the mathematical formulae do look quite intimidating I have to be honest lol! Are you sure A-level Maths is sufficient?

My sister is an accountant so she is able to explain some of the stuff to me, but in case I get stuck are there any group tutorials I can go to? Especially any free ones?...or any crammer courses? My sister trained with BPP and they had tutorials for her exams so I'm wondering if it's the same for actuarial exams.

Cheers.

[JohnnySPal]

(Original post by GilbertLam)
Only the actuarial tables have arrived at the moment, and looking through it, all the mathematical formulae do look quite intimidating I have to be honest lol! Are you sure A-level Maths is sufficient?

My sister is an accountant so she is able to explain some of the stuff to me, but in case I get stuck are there any group tutorials I can go to? Especially any free ones?...or any crammer courses? My sister trained with BPP and they had tutorials for her exams so I'm wondering if it's the same for actuarial exams.

Cheers.

Don't worry about the formulae. They're provided for a reason - so you don't have to remember them. Because you'll have them questions will usually (presumably) break down into a routine "throw the numbers in and get an output"-type thing. You'll only use about two of those formulae for the entirety of CT1! You'll mainly need the tables for the interest rate tables, and the normal distribution table lookups near the back.

Really, A-level maths will be fine. You'll need to be pretty good at it (you're on for an A right?) but it will definitely suffice. When you get your CT1 notes you'll stop worrying I'm sure. CT3 will be the module that's heaviest on the maths so if you fancy learning a second module I'd recommend that next, to feel content with the maths in future modules you take.

I dunno about extra classes. I'm pretty sure you can book one/two/three day block tutorials through ActEd but I definitely didn't need it for CT1 so I dunno how useful they'd be...

[stosie]

(Original post by GilbertLam)
Only the actuarial tables have arrived at the moment, and looking through it, all the mathematical formulae do look quite intimidating I have to be honest lol! Are you sure A-level Maths is sufficient?

My sister is an accountant so she is able to explain some of the stuff to me, but in case I get stuck are there any group tutorials I can go to? Especially any free ones?...or any crammer courses? My sister trained with BPP and they had tutorials for her exams so I'm wondering if it's the same for actuarial exams.

Cheers.

Don't worry too much about the tables most of it isn't relevant for CT1, the tables are the same for all the exams so you won't need to use most of it.

There are tutorials from ActEd, which is owned be BPP. They do revision days and regular or block tutorials. I think they work out at £120-150 a day but I don't know whether that includes VAT as my company pays for mine.

I have had my first CT1 tutorial and found it really useful, I do have a lot less time to work it out in my own time though as I am doing 3 CT subjects with only 20 study days.

You may find a revision day useful or something called ASET (acted solutions with exam technique) or getting a mock exam with marking. One of these would at least let you know if you are answering questions in the right way.

Make sure you do the assignments in exam conditions even if you're not getting them marked as this will let you know what the time pressure is like.

[GilbertLam]

[QUOTE=JohnnySPal

Really, A-level maths will be fine. You'll need to be pretty good at it (you're on for an A right?) but it will definitely suffice. When you get your CT1 notes you'll stop worrying I'm sure. CT3 will be the module that's heaviest on the maths so if you fancy learning a second module I'd recommend that next, to feel content with the maths in future modules you take.

[/QUOTE]

Yeah I got an A at A-level Maths. All my modules were A's except Mechanics for which I got an E lol. I hate Physics with a passion! I actually got my CT1 notes today too! I don't really know what I paid 114 pounds for though lol...

I think as a non-member I can only do CT1. Do I have to be taken in by a company to be a member?

[GilbertLam]

(Original post by stosie)

There are tutorials from ActEd, which is owned be BPP. They do revision days and regular or block tutorials. I think they work out at £120-150 a day but I don't know whether that includes VAT as my company pays for mine.

I have had my first CT1 tutorial and found it really useful, I do have a lot less time to work it out in my own time though as I am doing 3 CT subjects with only 20 study days.

You may find a revision day useful or something called ASET (acted solutions with exam technique) or getting a mock exam with marking. One of these would at least let you know if you are answering questions in the right way.

Make sure you do the assignments in exam conditions even if you're not getting them marked as this will let you know what the time pressure is like.

Thank you very much for the tips! You're definitely going to be one of the people on my 'people-to-ask-when-I-get-stuck' list lol

[JohnnySPal]

(Original post by GilbertLam)
Yeah I got an A at A-level Maths. All my modules were A's except Mechanics for which I got an E lol. I hate Physics with a passion! I actually got my CT1 notes today too! I don't really know what I paid 114 pounds for though lol...

I think as a non-member I can only do CT1. Do I have to be taken in by a company to be a member?

Have you actually done any proper research into this?

Anyone can become a member of the institute. Thing is, CT1 is the only exam you can take where you don't have to be a member. Thing is, being a member costs you a lot of pennies each year. By doing CT1 you can test the examination waters without splashing out something like £250 (additional) pounds on being a member in the process.

You paid £114 for everything that came through. Do you not think there's enough or something? I **** myself with intimidation when I got my pack through

Good luck with the studying. Don't underestimate how much you have to do.

[GilbertLam]

(Original post by JohnnySPal)
Have you actually done any proper research into this?

Anyone can become a member of the institute. Thing is, CT1 is the only exam you can take where you don't have to be a member. Thing is, being a member costs you a lot of pennies each year. By doing CT1 you can test the examination waters without splashing out something like £250 (additional) pounds on being a member in the process.

You paid £114 for everything that came through. Do you not think there's enough or something? I **** myself with intimidation when I got my pack through

Good luck with the studying. Don't underestimate how much you have to do.

I did do research into it, obviously not enough

Yes I've seen it, and I am in shock at the load...but I still don't think it's worth 114 pounds! But I'm stingy like that...

[JohnnySPal]

(Original post by GilbertLam)
I did do research into it, obviously not enough

Yes I've seen it, and I am in shock at the load...but I still don't think it's worth 114 pounds! But I'm stingy like that...

ActEd don't have thousands upon thousands of customers. They need to pay a lot of very specialised people to write these notes. You do the maths

Guck luck with the studying.

[manthew]

(Original post by beatleboar)
Hello.
You seem to know quite a lot about this kind of thing.
I am dead interested in becoming an actuary.
I just want to know if I am heading the right way and if there is any tips you could give me?

i) I am hoping to get an A* in Maths and an A in further maths as level. With Geography, Business and Economics, Law and General Studies. Hoping all to be A or maybe A*. They may consider some subjects to be weak though however?
ii) Economics as a degree, how suitable is it? Also the university I attend will this play a big part? Eg. York, Durham, Nottingham, Bristol and Warwick.
Aim for a firs, more likely going to end up with a 2.1.

Then I don't know really what else to do.
Your help, would be incredibly appreciated.
Thanks.

An A in further math is sufficient enough (i take it you take further stats) and a 2.1 degree is just what the firm wants. However, it really depends on the firm to hire you or not. Because I believe you can't be an actuary without working experience in the UK. I have a friend who go hired to HSBC with A-levels [He got A in further Math and he's an amazing guy] and he's doing his CT7 now I believe.

[beatleboar]

(Original post by manthew)
An A in further math is sufficient enough (i take it you take further stats) and a 2.1 degree is just what the firm wants. However, it really depends on the firm to hire you or not. Because I believe you can't be an actuary without working experience in the UK. I have a friend who go hired to HSBC with A-levels [He got A in further Math and he's an amazing guy] and he's doing his CT7 now I believe.

It isn't an A level though it is only at AS level?

[beatleboar]

(Original post by JohnnySPal)
ActEd don't have thousands upon thousands of customers. They need to pay a lot of very specialised people to write these notes. You do the maths

Guck luck with the studying.

How competitive is it to get on to an acturial graduate scheme.
Baring in the mind I would have done.
CT1.
2.1 Economics.
A*AAAAa at A level.
Relevant work experience.
Internships hopefully. ( Baring in mind I am not successfully secured a job with the company) .

[johndale]

(Original post by Smtn)
Not without further education. Do a Finance MSc then you'll stand more of a chance

Anything that relates with financial course can move you up.

[GilbertLam]

Hi can anyone help me with this. It's been bugging me a bit...

I'm on Chapter 3: Force Of Interest and it's to do with proving delta(t) = d/dtlnF(t). In the exam I probably don't need to prove it but there's just a tiny thing I don't quite understand.

Firstly I DO understand how A(t,t+h) = [F(t+h)]/F(t) by noticing the principle of consistency and using the formula F(t)=A(t0,t) but then when I sub this back into lim [(A(t,t+h)-1)/h] I don't see how it's the same as lim [F(t+h) - F(t)]/F(t) x 1/h. Where does the minus F(t) come from and why is it not minus 1 like the original formula is??

Sorry if I have completely confused you, I hate writing formulae out on computer. I hope someone understands what I'm talking about lol.

Please help.
Thank you!

[JohnnySPal]

(Original post by GilbertLam)
I'm on Chapter 3: Force Of Interest and it's to do with proving delta(t) = d/dtlnF(t). In the exam I probably don't need to prove it but there's just a tiny thing I don't quite understand.

Firstly I DO understand how A(t,t+h) = [F(t+h)]/F(t) by noticing the principle of consistency and using the formula F(t)=A(t0,t) but then when I sub this back into lim [(A(t,t+h)-1)/h] I don't see how it's the same as lim [F(t+h) - F(t)]/F(t) x 1/h. Where does the minus F(t) come from and why is it not minus 1 like the original formula is??

The last step coming from multiplying numerator and denominator by F(t). Simples.


EDIT: Goddamnit latex is still broken. Come on TSR bods get it sorted:

(A(t,t+h)-1)/h
= { [F(t+h)/F(t)] -1 } / h
= { F(t+h)-F(t) } / hF(t)

The last step coming from multiplying numerator and denominator by F(t). Simples.

[GilbertLam]

(Original post by JohnnySPal)


The last step coming from multiplying numerator and denominator by F(t). Simples.


EDIT: Goddamnit latex is still broken. Come on TSR bods get it sorted:

(A(t,t+h)-1)/h
= { [F(t+h)/F(t)] -1 } / h
= { F(t+h)-F(t) } / hF(t)

The last step coming from multiplying numerator and denominator by F(t). Simples.

Oh ok I understand that. I kept getting the middle line but I never multiplied by F(t). Why can't we just leave it like the middle line but have to multiply by F(t)??

[JohnnySPal]

(Original post by GilbertLam)
Oh ok I understand that. I kept getting the middle line but I never multiplied by F(t). Why can't we just leave it like the middle line but have to multiply by F(t)??

Because you want to use the definition of derivative. The limit isn't dependent on t so you can take the F(t) on the denominator out. You're then left with F'(t)/F(t), by virtue of the fact that:

F'(t) = lim [F(t+h) - F(t)] / h

Where the limit is as h tends to 0 (sorry, latex still isn't working). The above is a standard definition; it hasn't been derived from anything.

Look at this article if you're confused by the limit definition of a derivative, it's really intuitive when you think about it for a second: http://en.wikipedia.org/wiki/Derivat...ence_quotients

[GilbertLam]

(Original post by JohnnySPal)
Because you want to use the definition of derivative. The limit isn't dependent on t so you can take the F(t) on the denominator out. You're then left with F'(t)/F(t), by virtue of the fact that:

F'(t) = lim [F(t+h) - F(t)] / h

Where the limit is as h tends to 0 (sorry, latex still isn't working). The above is a standard definition; it hasn't been derived from anything.

Look at this article if you're confused by the limit definition of a derivative, it's really intuitive when you think about it for a second: http://en.wikipedia.org/wiki/Derivat...ence_quotients

Oh ok thanks. I did actually look at that website earlier on this evening but it was only a glance. I don't think I've ever been taught the definition of a derivative as it sounds new. But it could just be that I've forgotten it...

[GilbertLam]

Hi it's me again. This is probably really obvious but why does A(t0,t0+n)=e^dn?

Thanks.