Any actuaries in here?

[mittman84]

Just wondering if there are any actuaries in this forum. I am a college junior majoring in actuarial science, and economics, with a minor in finance.

I am.

[mosdef]

[ QUOTE ]
Just wondering if there are any actuaries in this forum. I am a college junior majoring in actuarial science, and economics, with a minor in finance.

[/ QUOTE ]

almost. i have to write course 7 and then do the professional development stuff before the exam system changes. i work at an actuarial consulting firm

[mittman84]

Have you taken any of the exams yet? I don't know anything about the changes in the exam system. I am taking the first exam (on probability) in may.

[yellowjack]

I'm jealous. I was going to try the exams (haven't even started) but I never give myself time to study. I understand it's about 100 hours of studying for every hour of the exam. I don't have the discipline to do this, and actuarial science isn't offered at my university. Good luck to you guys.

[mittman84]

well the first actuarial exam is over probability. My schools STA584 is called Mathmatical Statistics 1 and is what exam 1 is over. Other than that just throw in some managerial finance classes, the basic accounting classes (201-202 here) and some econ classes, and you will have everything you need if you are already a stat major (assuming you have had Calc1-3, introduction to annalysis, and possibly advanced calculus 1). Check out beanactuary.com for more info.

[kyro]

I passed the first exam...barely. The second exam I imagine should be easier. Unfortunately, I am a such a lazy slacker, getting through school will is tough enough. But I do enjoy the material.

[yellowjack]

Thanks for the advice. I had beanactuary.org and a whole bunch of other sites bookmarked last summer. I don't doubt I could pass the first exam, but after that I don't know. Now I have dreams of playing $10/$20 SHLHE and higher part-time to go with whatever job I take do with stats. Not exactly +EV but I can see myself doing it. I don't see myself getting past even the first 4 actuarial exams.

[Darryl_P]

I got my FSA in 1993 but haven't practiced since 1997. If I could do it all over I probably wouldn't have wasted my time. If you're capable of passing all those exams you're also capable of making a good living gambling and you'll have lots of spare time for your family rather than sucking up to your bosses, clients and society at large (unless of course you're doing it because you feel a need to satisfy these people/entities and a paycheck is just a bonus).

[mittman84]

haha, thanks for the encouragement. I take it you play poker for your main income?

I'm taking Exam 6 (P&C Exams) in about 2 weeks... it's a good career, but the studying is a huge pain (and it's likely more than 100 hours of studying per exam later on)...especially if you're like myself and would rather be playing poker /images/graemlins/smirk.gif

[Darryl_P]

Any time you need some motivation, just ask me and I'll tell you the best way to be a lazy bum /images/graemlins/smile.gif

For the last 8 years gambling has been pretty much my only income, divided 80-10-10 between sports betting, poker and blackjack. I'd say my EV is about the same in all three but I prefer sports betting because it's hands off and so it's easier to remove myself emotionally and concentrate on other things like family, health, etc.

The hardest part of being a pro gambler is not the math but the isolation. It takes a special type of personality -- the type that could go hiking in the mountains alone for a month straight without going nuts.

Are you considering the thought of gambling for a living?

[yellowjack]

Hey DarrylP,

I've thought about the isolation too from gambling. Have you thought about volunteering or working doing something you really enjoy (i.e. coaching sports, etc.) to get "out there" more?

[Darryl_P]

Hi Yellow,

Yes I did teach a bit of math and English for a while but eventually I found that also went counter to my philosophy of life since I helped people to become part of the system which, according to my philosophy, is my enemy.

Technically those subjects are not directly related to the system but I knew my students would be using it for that and that bothered me. I felt I should band together with other teachers (kind of like a labor union) and make good quality teaching become an expensive commodity rather than give out all that great knowledge for free to people who will use it to make humanity evolve backwards.

Apart from that I have 3 kids who I enjoy spending time with so I'm not really that bored anymore.

Are you a pro gambler also? If so, what do you do "on the side"?

[yellowjack]

I'm just a university student right now majoring in stats, graduating in 2 years. Gambling-wise my bankroll is not even close to going as a full-time gambler.

I've imagined working some dead-end stats job part-time to keep my parents happy and playing poker because there is so much potential profit in it. I would educate myself in the form of poker that the public is playing.

The isolation bit is something I have thought about continuously, which was another motivation for me working in society at least part time. Tutoring math (and not teaching) came to mind, because I know I derive enjoyment from helping students succeed in it.

Your philosophy on the system being the enemy is intriguing, could you elaborate on what the system is, and why it's the enemy?

[Darryl_P]

Very closely related to my philosophy is that of the Unabomber as outlined in his manifesto (http://www.thecourier.com/manifest.htm)

In a nutshell I believe that the system is designed to help the less capable and less intelligent by hindering and stealing from the more capable and more intelligent. The education system is an organic and vital component of it as it starts the brainwashing at a very young age. It coerces you to subordinate your own needs to those of the system by instilling guilt any time you want to pursue your own goals without helping (or heaven forbid, hindering!) others. The media continues the brainwashing for the adults as do the various authority figures.

And as one of the more capable and more intelligent members of the population I naturally want to fight against that which tries to hinder, manipulate and steal from me, or at the very least not support it voluntarily.

[mosdef]

[ QUOTE ]
and it's likely more than 100 hours of studying per exam later on

[/ QUOTE ]

this is true. i studied 200 hours for courses 5 and 6 and 300 for course 8. it's a big commitment when added on top of your 9 to 5 job.

[mittman84]

what are exams 5,6, and 8 on?

[tipperdog]

[ QUOTE ]
Very closely related to my philosophy is that of the Unabomber as outlined in his manifesto (http://www.thecourier.com/manifest.htm)

In a nutshell I believe that the system is designed to help the less capable and less intelligent by hindering and stealing from the more capable and more intelligent. The education system is an organic and vital component of it as it starts the brainwashing at a very young age. It coerces you to subordinate your own needs to those of the system by instilling guilt any time you want to pursue your own goals without helping (or heaven forbid, hindering!) others. The media continues the brainwashing for the adults as do the various authority figures.

And as one of the more capable and more intelligent members of the population I naturally want to fight against that which tries to hinder, manipulate and steal from me, or at the very least not support it voluntarily.

[/ QUOTE ]

Response Option #1: Works for me. I'd adopt any philosophy required to get into bed with Jennifer Tilly.

Response Option #2: Would this be a good time to ask you for a donation to a worthwhile charity?

Response Option #3: You should seriously consider therapy.

Choose your favorite.

[mosdef]

[ QUOTE ]
what are exams 5,6, and 8 on?

[/ QUOTE ]

the system is about to change, so this is a little out of date, but...

5 was on general actuarial fields: life insurance, group insurance, and pensions

6 was investments (specifically how they relate to actuarial fields)

8 is where you pick one of several exams, specialized to your actuarial field. there is life insurance, group insurance, investments, retirement (my field), and some others.