A Perspective on Earned Level: Part 2

Written by Jon Lai: JonL (HD)

Your EL is Only a Gauge of Your Odds

Let’s be realistic. Guarantees are likely the rarest things in life. Passing an actuarial exam is no exception to this. No amount of exam preparation or resources could ever guarantee anyone a pass. Here at Coaching Actuaries, we are highly aware of this, and probably dislike it as much as you do. That is why we desire to offer you the next best thing to a guarantee: the tools to Raise Your Odds.

Since the best we can ever do is to increase your chances of passing, the “EL tool” is not infallible, and by no means perfect. Your EL guarantees nothing. It is but a gauge (although a good one!) of your passing likelihood. So please avoid using your EL as a crutch that is wasn’t meant to be. Instead, take it for what it is worth – a helpful measure of your chances.

Your EL cannot be the Sole Gauge of Your Odds

Meet hypothetical Jane. She always had a thing for math, but never dove into much of it at college. More than a decade of her career has past, and she’s now looking at pursuing an actuarial career. After some 40 odd practice tests and quizzes on Adapt, she finally reaches an EL of 10.

Now meet hypothetical Jake. He is enrolled at a university’s actuarial program, which is known to be quite reputable. The materials from class are all fresh in his mind. By his 7th practice test on Adapt, he already achieved an EL of 10.

Now convince me that the passing odds of these two candidates are similar. You can’t. In fact, there isn’t enough information to make such a claim, and there likely never will be enough. So many other factors are at play in passing an actuarial exam. One’s EL is only the tip of the iceberg.

In conclusion, it is time we begin speaking of the Earned Level differently. Let’s not make it out as something it is not, but instead, focus on what it is. It helps measure how well you know the material and how exam-ready you are. The measurement is based on how well you score on your practice tests. How well you score on your practice tests is based on how you took the test. Thus, a credible Earned Level comes from “honest” test-taking practices. A credible Earned Level will draw a better picture of your preparedness against the backdrop of data that supports “higher EL = better chances”. And we promise to work with you to better your chances – to Raise Your Odds.