FM Exam

I ended up with a better final grade in interest theory than I did in my probability class at Binghamton, so I decided to take the financial mathematics exam before the probability one. (I also have a hatred for probability and thought the FM would be easier for me). I am currently studying for the P exam now, and actually procrastinating by updating this blog, so I can't actually tell you which exam I thought was easier yet, but based on the number of times I had to sit for the FM, I think I am going to find that one was more difficult.
My first attempt was in February 2012. Two months after the completion of interest theory. My teacher warned us many times that this exam was going to require much more studying, even after taking his course, but honestly I didn't believe him! I got an A in the class and actually enjoyed it. So I started studying early January. I used the manual we used in the class, Arcones Manual for the SOA Exam FM/CAS Exam 2... It was good for a beginner just starting to learn the material, but it is absolutely necessary to get another book to study from. I learned the hard way that being cheap with study guides was going to backfire since now I had to pay ANOTHER 200 to retake the exam.
So the first try was a major fail. I got a 4. I wasn't terribly down on myself because I knew the passing rate wasn't high and a lot of people fail the first time. Also I knew I hadn't studied at all like I should have been.
You would think this failure would be eye opening and would motivate me to work harder and take it again in April, and it was... but only for a few weeks. I was at school, had difficult classes, a new job that forced me to get out of bed at 7am... and most importantly it was my last semester of college EVER. I had to make the most of it and I most definitely did, but it cost me another 200 bucks and a blow to my self esteem when I failed again.
So I was upset and frustrated... even thought about giving up... but instead settled on giving myself time and taking it again in August. I know I'm giving excuse after excuse but how can someone study all summer when their friends and family are on vacation?? I had a hard time getting myself to the library and ended up failing again. I got a 5 so I knew I was close, but come on! Three failures? I felt pretty stupid, but this time I also felt extremely determined.
I bought the ASM/FM study manual in March and didn't make it through the entire thing until August. I was kinda stumped on how to study more so I did some research. I had always noticed people talking about ADAPT scores on the actuarial outpost blogs so I looked into that. ADAPT has tons of study guides and programs for the FM so I purchased a 90 day coaching actuaries subscription that creates as many practice tests as you can get through in the allotted time. It also grades them, and scores your readiness level. I ended up somewhere in the high 8 range when I finally took the exam and actually got an 8 when everything was all said and done. I raised my score 3 points in the 2 months I had with that program. I, obviously, highly recommend it!!
Anyway, I guess the point of me admitting to you all that I failed the FM 3 times is that you absolutely should not give up. I underestimated the test by a lot, but the fact that I ended up with an 8 and not just a 6 shows that when you study right, it will pay off. Don't ever think you're just not smart enough to pass. I started to believe that but I kept trying and it paid off. Just do a billion practice problems, buy the best study material, go to the library, and you'll do great.