Actuarial FM exam vs. CFA Level 1 difficulty, material, possible, anybody, compare

manchester88

I'm debating on taking the actuarial fm exam in February to keep as many options as possible open and was wondering how similar the FM exam will be to the CFA Level 1 exam. I know there won't be any ethics questions, but how does the rest of the material compare to the CFA Level 1 for anybody who has taken both exams? And how does the difficulty compare of the two exams? Also, after taking CFA Level 1 would 2 months be long enough to prepare if I have a lot of free time with Christmas break coming up?

chetan86

says the geek on cfa forums

nitoha

I don't recall integrating anything, but it's been so long since I learned derivatives I forget when I use them. This is from the syllabus:

Exam 2 assumes a basic knowledge of calculus and an introductory knowledge of probability.

I would suggest you have at least had one calculus class, but you may be able to get by without it.

Siddimaula

nerd alert!

ramdabom

I guess I shouldn't say as much keep my options open as I should be saying making my resume stronger. I figure having a few credentials is better than one credential and may make a difference between me and another candidate who may be equals other than the additional actuary exam.

sdada

none at all?

joemoran

does FM require substantial calculus? I know P requires quite a bit what about FM

amqata

Yeah, there were a few similarities between P and CFA Level 1 Quant, but definitely not enough to call them anywhere close to similar exams. Just looking for advice on what to expect, I thought about taking P after FM too, because I'm getting my MBA currently and only have night classes so all my days are usually free...other than the usual game of Madden ;)

Micholien

The FM exam requires the ability to perform calculations and have a deeper understanding of interest theory and simple derivatives. You can find the syllabus online, 'exam fm syllabus'.

Two months is enough.

I thought FM was the easiest of the preliminary actuarial exams, easier than CFA L1 in terms of overall difficulty. I studied two or three weeks for it, but I had some exposure to the material already via MBA finance program.

Let me know how it goes.

JPSem

You should go for it!! I am just finishing up my undergrad in Math/stats as well.
P1 seems ok as well but it doesn't relate to CFA L1, FM definitely does.