Most of you will already know what a study group is, but just in case you don’t, it’s a group of people that get together either in person or virtually (online) that are studying for the same test.
As you can imagine, study groups are an excellent resource for people writing actuarial exams because you typically don’t know many people going through the process that are at the exact same place as you.
In the Actuary Accelerator Community, we have study groups where students writing the same exam can get together virtually and discuss any problems that they’re having throughout their study period. If you’d like to check them out, you can sign up for the Actuary Accelerator Community (AAC) here.
Here are the top 3 advantages of a study group. I really don’t think there are any disadvantages. So why not get yourself in one?
ADVANTAGE # 1: Helps to reduce procrastination
Sometimes when you’re studying alone it can be hard to keep motivated. It’s easy to procrastinate and let your study time slip away. A good study group will help to keep you on track with your study schedule so that you don’t fall behind. In our NSC study groups, I post help guide students through the process by posting the weekly schedule each week. Group members should try to stay on track with the study schedule or ahead of it.
Procrastination is one of the main reasons that I failed preliminary exams. I found it easy to procrastinate on studying for actuarial exams because it’s a self-study concept, which means that you can do it at your own pace. It’s easy to feel like you still have so much time left to study and therefore keep putting it off whenever something more exciting comes along.
ADVANTAGE # 2: Get a different perspective/Answers to your questions
One of the best things about a study group is that they are all going through the study process at the same time as you. You can ask questions to your group about anything you’re not understand and often they can help explain things to you. It’s also beneficial to hear other people’s perspective of different topics because sometimes that helps to give you a better overall understanding.
—RELATED: HOW TO START STUDYING
Have you ever tried to memorize something by “teaching” it to someone else or your dog or cat? Well… my cat has been given many math lessons at this point and I’m sure he enjoys every bit of it. Teaching a topic to someone else is an excellent way to embed the information into your own head. A study group is surely ready to listen!
ADVANTAGE # 3: Good company
Many students writing actuarial exams feel alone and somewhat isolated from society when studying for exams. I mean, you really don’t have much time to be out with friends and often you don’t know many people also writing the same exam as you. A study group helps you to connect with other people reaching for the same goals are you are and this can be great! It’s nice to know that you have a whole group of other people that understand what you are going through and can root for you!
Looking to join a study group? Check out the Actuary Accelerator Community to find Exam P and FM tutoring, study groups, and more!