When I first prepared for the P exam I had no idea what to expect. I read stories of people who failed multiple times, I knew classmates who failed, and I knew that the rate of failure was hovering slightly above 50%. On the other hand, one of my mathematics professors proclaimed that she passed on the first try with a perfect 10. I also read several stories of people who passed the exam while still in high school, and others who said that it was not a difficult test. Despite all of the sources I uncovered regarding the test, I only felt more nervous. I wondered if I would replicate the results of my professor who artfully passed with a perfect score, or if I would end up retaking the test a few times. One thing that helped soothe my tumultuous mind was the power of probability.
The pass rates for current actuary exams have been bleak, essentially conveying that an average non-Adapt user is likely to pass with similar probability of a coin flip or less. What I love the most about the Adapt program is that I can have the assurance that if I reach an Adapt level 7, I will not be left at the mercy of a single coin flip. Instead, I have the nearly the same odds as getting three extra attempts!
Try it for yourself. Find a coin and flip it four times, did you get at least one head? Think of that as your odds of passing Exam P with an Earned Level of 7 or higher on Adapt. Those are fantastic odds, something you can bet your money on. As probability would indicate, it’s possible that someone who reads this will flip a coin four times and get all tails. Do not panic, the laws of probability are not foretelling your failure. Try to do it again and see how often you can get four tails in a row (it should occur about 6 times out of 100 trials). The bottom line is that this event is unlikely, and in the same way it is unlikely that you will not pass an actuary exam with an earned level of 7 or higher. To add more reassurance on top of the sheer probability, you are in total control of how much you put into the exam. If you want to push higher than an earned level 7, you can! You can raise your odds higher and higher until you have a personal level of satisfaction and near certainty of your success. You can have this reassurance at your fingertips as an Adapt user.
If you are like me then you know that more reassurance will lead you closer to the often elusive, “Peace of Mind”. There is enough to worry about apart from studying for the exam! My mind is made up. I want assurance of my knowledge before I take another actuary exam. It was clear to me ever since I walked out of the testing center with a note of congratulations. I will use Adapt through my entire process of becoming a professional actuary.