Each upper level actuarial exam is different in its focus and requires different exam taking skills and tips. So what do you need to know about CAS Exam 5? Exam 5 can be especially daunting if it is your first upper level exam, so here are a few tips to get you started:
- Exam 5 is a short answer style exam versus multiple choice. Some people who have easily gone through the earlier exams can be thrown off by 5. The more you know what to expect and how to adjust your study style, the less likely this will happen to you.
- Questions are broader in scope and often require interpretation of calculations and concepts in addition to the basic numerical answer.
- Exam 5 requires you to be able to apply these concepts quickly on exam day.
- Exam 5 focuses more on specific actuarial techniques that involve simple arithmetic vs highly theoretical math topics found in earlier exams. You need to switch from number crunching to analyzing a scenario and presenting a recommendation in a short space of time.
- Exam 5 has a lot of calculation problems. BattleActs has an infinite number of computer-generated problems for unlimited practice.
- About 25-35% of Exam 5 is short-answer essay-style questions. You must learn to write complete yet concise answers to these types of questions.
- People say one of the hardest things about Exam 5 is time management on exam day.
We have the tools, tips and features to guide you through each of these and a whole section on how to pivot your study strategies for upper level exams. Discover more about BattleActs at https://battleactsmain.ca. We’d love to help you “Slay the Beast”.
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