Pass Rates for Actuarial Exams 2019

Subject & Rate below:
Contingencies 57%
Actuarial Statistics 57%
Business Finance 54%
Financial Maths 48%
Actuarial Risk Management 45%
Health Specialist 44%
Business Economics 41%
Risk Specialist 41%
Pension Specialist 40%
Communications 35%
Life Fellowship 34%
Banking Fellowship 33%
Health Fellowship 31%
General Specialist 30%
Life Specialist 27%
Risk Models 27%
Finance Specialist 26%
Financial Engineering 26%
Finance Fellowship 17%
General Fellowship 14%
Pension Fellowship 0%

[@MJtheFellowActuary]

All the pass rates are in the description

[@MJtheFellowActuary]

My book on Financial Instruments: www.amazon.com/Understanding-Financial-Instruments-Simple-Diagrams-ebook/dp/B01LYJOG2Q

[@MJtheFellowActuary]

Udemy Course on Actuarial Statistics www.udemy.com/actuarial-statistics-exam-pct3/

[@dawidcronje3900]

Hey MJ! Just a (relatively) quick question from a curious Matric student.. I was wondering what your opinion is with regard to overseas job prospects for South African actuaries, i.e. countries that we have the mutual recognition agreement with, like Australia, the UK, etc.? Do you think South African actuaries are well regarded and/or demanded in these countries? Thanks for your time 😊

[@MJtheFellowActuary]

Yes, South African Actuaries and Accountants have a very good international reputation. Funnily enough the South African financial system is one of the best in the world

[@dawidcronje3900]

@@MJtheFellowActuary thanks for the quick reply. I've actually heard that from quite a few other people as well. Nice to hear your take on it :)

[@tomthomas17]

Hey MJ I’m going to be a senior in high school next year and I’m deciding between a a dual degree in actuarial science and finance or a double major with finance and accounting. I’ve always been in high level math classes but not the very best at them. Would tht hinder my studying for being an actuary? And are the job prospects after graduation high as I’ve seen a few students not receive jobs after college.

[@MJtheFellowActuary]

It’s an interesting choice. If you want to audit the past, do accounting and finance. If you want to predict the future, do Actuarial Science and Finance.

[@imtyazrahim8690]

Man, I am so grateful for your videos. I passed CA1 in this sitting (first attempt out of varsity) and I definitely watched your videos (I know you didn't have all the chapters but it still helped a great deal!)....also I have been watching your videos for a while. I can safely say it wasn't an easy exam...it was actually rather difficult and I found the questions really challenging. I knew my work inside out and I still found the exam rather difficult (the consensus from most people was that it was hard and they didn't think they passed me included). I think the key was answering the question (and not reciting a list - you can apply the list which is different), putting down enough points, asking other people for advice as well, and A TON OF PAST PAPERS. THANK YOU AGAIN.

[@MJtheFellowActuary]

Well done!! Its an absolute pleasure. I actually made videos for every single chapter, but this was before my KZbin days and I couldn't find half of them when I came to post them on KZbin. What exam are you going to write next?

[@imtyazrahim8690]

@@MJtheFellowActuary Ah man if you could ever find them I am sure it would be so beneficial to so many people (as your current videos are)! I am going to write the Life ST (ST2 I think it is still called). I work at a life insurance company so just feel like it is a good fit for me right now. If you have any resources for ST2, I would really really really appreciate it! Even just advice would be so helpful! and if you ever do think about re-making the CA1 videos, I would be more than happy to try and assist where I can. No expert but I am willing to help the up and coming actuaries to get over the line!

[@jashpoonatar2408]

Can you make a video introducing the papers, level, courses to do with it,etc It can help us understand the profession easily

[@MJtheFellowActuary]

This is a great idea! Will consider it!!

[@jashpoonatar2408]

I am confused Are there 15 papers or 21??

[@MJtheFellowActuary]

Everyone write 8 level one papers, 3 level two papers and then they choose 2 level three papers and 1 level four paper. So you don’t have to write all the level three and four papers, just the ones you want to specialize in

[@ABC-123-ZXC]

@@MJtheFellowActuary the correct answer is BOTH, MJ

[@jashpoonatar2408]

Do we need to pass all papers to get a good enough job or even if we miss some its ok?

[@MJtheFellowActuary]

You can get a job after passing 1, but the more you pass, the more responsibilities your employer will trust you with which equals bigger pay

[@imtyazrahim8690]

I second what MJ said. If you have very few exams, it becomes harder to employ (not impossible - I had 3) but as MJ mentioned it's the responsibilities which is key. If you have very few, you are going to need to take more time off from work to pass and also the cost of your exams may be higher. I wouldn't say that all is over if you have few but I would really suggest that whatever job you get really prioritize those exams :).

[@jayjayf9699]

Where is a link to your Udemy in actuarial statistics

[@MJtheFellowActuary]

Udemy Course on Actuarial Statistics www.udemy.com/actuarial-statistics-exam-pct3/

[@adamsmithintin2803]

I passed the financial engineering class it was actually an easy paper it was the online part that was really hard, this will be the reason so many people failed

[@MJtheFellowActuary]

Thank you for letting me know about, I’m going to go over the computer section, looks like it’s Excel

[@adamsmithintin2803]

MJ the Fellow Actuary yes it is excel for that exam. I couldn't start half of the questions, I reckon I managed to get some marks in the comment on your results part without having the results. The CM1 exam (the old CT1 and CT5 class) was the same according to friends that sat it. Very hard excel part of the exam but the paper was very straight forward. Maybe that's how the exams will be going forward.

[@terranceforrestjr1159]

I'm getting ready to take the probability exam, what is the pass rate?

[@MJtheFellowActuary]

Exam P is similar to Actuarial Statistics, so pass rate is high compare to the other exams

[@terranceforrestjr1159]

@@MJtheFellowActuary thanks

[@juniordachaser7177]

Does Actuarial Sciences have more mathematics than Mathematical Statistics?

[@ax_the_great]

More maths stats

[@MJtheFellowActuary]

For us in South Africa, you do a double major in Actuarial Science and Mathematical Statistics, and the two would cross over all time

[@johnappleseed2578]

The sheer cheekiness @4:00

[@biancavanreenen2822]

Is that a llama or alpaca?

[@MJtheFellowActuary]

He is called the Dolly Llama 🦙

[@panye9477]

For us South Africans would financial engineering be the previously known ct8?

[@mathtyme]

Yep it is, although there are some aspects of the previously known CT6 within it (run-off triangles and ruin theory).

[@MJtheFellowActuary]

Yes. Market Theory, Option Pricing, Asset Valuation, Interest Rate Model’s, etc with Liability Valuation (Ruin Theory, Run off Triangles) added

[@mas0ny149]

Hi. I'm looking to do actuarial studies. Just wondering about these exams, do u finish then once and never have to do them again? Or do u have to keep redoing these exams every few years to keep your certification?

[@Jack-nd3pl]

Mj I am thinking about majoring in actuarial science I would like 2 know which south african university is best suited for acturial science and I would like 2 know the salary range of actuaries in south africa

[@tshegofatsomolosi3953]

Please share a link to your book.

[@MJtheFellowActuary]

MJ the Fellow Actuary 6 days ago My book on Financial Instruments: www.amazon.com/Understanding-Financial-Instruments-Simple-Diagrams-ebook/dp/B01LYJOG2Q

[@maburwanejohannes4647]

And to pass you need 50%?

[@mattyio003]

See you tomorrow MJ👍🏽

[@ismailjiwa776]

Are u like a proper actuary??

[@MJtheFellowActuary]

Ya I'm a Fellow locally and a CERA internationally

[@MrAbhishekbiswas]

Can u throw some light on indian actuarial prospects

[@MJtheFellowActuary]

I've heard there is a bit of competition for actuarial graduate jobs, so try make your CV stand out by supplementing it with Data Science and Programming skills. This combination makes you very valuable!