ETCHED ACTUARIALWhere aspiring actuaries start their journey
Stage 3: It’s time speed up
This blog post is has been made specifically for members of my Study Strategy Consulting Program & Study Strategy Boost Program, but I’m sure many others can get use out of it too.
Now that you’ve spent time doing tons of practice questions, hopefully you know how to approach most questions that get thrown at you.
On exam day, you only have 3 hours for Exam P and FM. Exam P has 30 questions so that means you need to answer questions in 6 minutes or less. Exam FM has 35 questions so you have a little over 5 minutes to answer each question.
So now it’s time to take the knowledge and experience you’ve gained by doing all those questions previously and just speed it up so that you can read a question, figure out an approach, and do the math all within this time limit.
On exam day, you (obviously) won’t be able to use any notes, so it’s time to close your book while you’re practicing too. That means no formula sheets either!
As always, it’s important to track all the questions you do and whether or not you get them right. This will continue to give me a lot of valuable information on exactly how I should adjust your study strategy going forward so that you’re as well prepared as possible on exam day.
For any questions that you can’t complete within the time limit, I suggest training yourself to try moving on. It’s so easy to think that you just need one more minute, but that one minute often turns into 3 or 4, which means you’ve eaten into lots of time for your next question
Trust me, it’s hard (very hard) to move on when you think you can get the answer and just need a little more time. That’s why you need to practice and get comfortable with leaving and coming back later.
So once you’ve done all your TIMED questions for the day, go back and finish any that you weren’t able to finish within the time limit. That’s what you’ll have to do on exam day.
After that, review solutions and you’re done! If Q&A email support is included in your membership, be sure to send me questions for anything that you don’t understand in the solutions.
One more reason why doing these timed questions is good….
It helps you get a better sense of which questions are reasonable to complete within the time limit and which ones are going to take too long. This is important because on exam day, when you go through the questions for the first time you’ll want to make sure that you only do the ones you know you can complete within the time line. But more about that later!