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Actuaries, ADAPT, and the CFA exam

Written by Coach Kester:

The essence of the value actuaries provide is to manage risk. A close partner in our business of managing risk are the CFA professionals. Receiving the CFA credential involves passing 3 exams in addition to other requirements. The 3 exams are similar in structure to the initial actuarial exams. They are difficult exams that are primarily in a multiple choice format. As a result of the similarity between the two exam systems, we decided that ADAPT would be a useful tool to help students pass the CFA exams. DSC_0077

I am excited to announce that ADAPT is now available for students to prepare for the CFA exam. We are partnering with the Passed Tense team to create content that can be used to develop ADAPT practice problems, a study manual, and video instruction. There are three reasons why I’m sharing this news.

First, if you are considering achieving the CFA credentials, ADAPT combined with the Passed Tense team is now ready for the Level 1 exam. You can review ADAPT and the Passed Tense system here: passedtense.com.

Second, if you know someone who is currently studying for the CFA exam, please let them know about how ADAPT can be used to prepare them for their exam.

Third, and probably most important for many of you, because of our expansion into the CFA market, we are able to leverage our R & D so that ADAPT is improving at a faster rate. For example, we are currently working on a new tool that helps schedule your exam study. This tool is designed by the Passed Tense team. The funding for this tool is available because it is allocated over two business units. As a result, everyone wins.

Winning combinations. That is what we get excited about. With that said, do you have any features that you would like to be added to ADAPT? We are constantly working on improvements. The best ideas are the ideas that come from our customers. Feel free to share your ideas by responding to this blog. Happy ADAPTing actuaries and CFA students!

  • Sam

    How to study for CFA exams?
    Is there a CFA equivalent to the asm manual?

    • Ben Kester

      Sam, start by looking at the site Coach Kester mentioned, http://www.passedtense.com. They have a study manual for the site. Their blog can also be helpful.

  • Chen Chen

    Yes, there is a company called Kaplan which provide Schweser books. And also i heard good comments about Stalla. I’m actually planning to write my level 2 in june 2014 and would consider using adapt to study for it. When do you think the cfa exams would be up and running?

    • Ben Kester

      Chen Chen, good luck with Level II. PassedTense doesn’t have any materials out for Level II yet. Schweser bought out Stalla, so don’t worry about choosing between those two.

  • Joel

    I would like if the section review portion could be exported to Excel. I would like to be able to store results after each practice exam, but right now the current format is a pain to copy/paste over to Excel. Also, I would like it if the section review portion listed all of the topics for that exam, and not just those topics that you’ve had a question on. That way you can see if there’s a topic that you haven’t had a question on yet.

    • Ben Kester

      Joel, those are good ideas. We are re-vamping the section review and will look at these in the iteration. The ability to see all sections will probably make it in.

      • Joel

        Thanks! I also think it would be useful to sort by the number of questions that have been asked in a topic. That way if you have only seen 1 question in a topic you can easily see that. Right now you can only sort it alphabetically or by percentage, but I’m not really comfortable saying I’m good with a topic if I’ve only had 1 question. But if I got that 1 question right then I’m sitting at 100% accuracy.

  • TheHopefulActuary

    I just want to comment saying that I really love that you’re doing this. I plan on enrolling for this exam and the CFA program in the next year at some point and I will definitely use this given my success I have for the actuarial exams.

    • Coaching Actuaries

      Thanks! Let us know if you have any feedback.