All Coaching Actuaries Online Manuals can be printed by subsections from your browser or saved as a PDF. However, please note that there may be formatting differences between the online version and the saved PDF. As noted on our Learn product pages, please remember that updates to the Online Manual are made instantaneously online without notice. Don't know much about Coaching Actuaries P manual but I can say that the Actex Manual for P is better than the ASM manual. I have and used both. The ASM manual has only 80 pages of material and the rest is the practice exams. If you have no background knowledge on probability, the manual is not enough to give you an insight on the material.
The ASM Study Manual for Exam SRM covers the full syllabus of the exam and includes practice problems, practice exams and solutions to both problems and exams. While K nearest neighbors is included as part of the linear models topic on the syllabus, the ASM for SRM manual covers that topic as a separate lesson. However, none of the sample questions are on this topic. Aside from that, the distribution of the sample questions is approximately the same as the syllabus weights (with the bulk of the material on the exam and in the manual on linear models), except that there are no sample questions on Basics of Statistical Learning.
Who should use this manual?
The SRM course gives you an introduction to statistical learning and data science. It is a prerequisite to the Predictive Analytics exam. Exam takers using ASM for SRM should have some knowledge of calculus, probability, and mathematical statistics, and you should know what matrix multiplication, transposition, and inversion means. However, the technical part of this course is light; you should know what we’re talking about when we mention testing a null hypothesis H0 against an alternative, or Student’s t test, and it would be nice if you know what maximum likelihood estimation is, but we don’t go very deeply into mathematical statistics.
In this manual, there are 28 sample questions and 6 practice exams. All have complete solutions. Many exercises are original, but they also include SRM sample questions and questions from old CAS MAS-I and S exams. All of the practice exam questions are original. However, a small number of the calculation questions are just slight variations of the SRM sample questions. For the knowledge questions, there was a limit to the number of different tricky statements the author could come up with, so you may find them slightly repetitive.
Note: this manual does not cover R, and you won’t need it for SRM. However, you will need it for the PA exam.
Printed manual is three-hole punched, shrink-wrapped, and notebook-ready for convenient transporting.
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Abraham Weishaus Ph.D., FSA, CFA, MAAA
Abraham was formerly a financial reporting actuary for Guardian Life Insurance Company. He served on the SOA's Education and Examination Committee for 11 years. He also taught exam preparation courses for the Actuarial Society of Greater New York (ASNY) for 15 years and for CAMAR for 6 years. Abe is currently a professor at Columbia University and teaches exam preparation courses at St. Johns University. He has been an ASM author for over 16 years and publishes material for exams P, MFE, MLC and C.
Resale, sharing or any other violation of copyright is not allowed. Copyright infringement is a violation of the CAS & SOA Code of Professional Conduct and can result in discipline procedures.
The most popular study guides for Exam P are ASM, ACTEX, TIA and the Coaching Actuaries. These will teach you all the math concepts you need for the exam. In addition, you can get personal, step-by-step guidance on how to prepare for the exam by joining the Study Strategy Program.
You’d be well off purchasing any of these options, but first let’s talk about why you’ll need these materials.
The Exam P syllabus (which can be found here) lists many different math concepts that you need to know. These range from things like general probability, univariate distributions and multivariate distributions.
The syllabus mentions some recommended textbooks to read, but the problem is that they’re not specifically designed to help you pass Exam P. They’re just regular text books like you might have been assigned to read in your college or university courses.
Fortunately, many actuarial-minded people have set out to help you prepare for your exam as efficiently as possible. So, they’ve condensed all those recommended textbook readings into a more manageable package that relates everything specifically to Exam P.
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These study materials will not only teach you the concepts that you need to know, but they’ll also give you specific examples about how the topics could be tested on the exam. Better yet, they come with tons of sample Exam P practice problems that you can use to prepare. That’s something you won’t get by just reading through the recommended textbooks.
In addition to study materials, I also recommend joining the Study Strategy Program as it offers everything that regular study materials do not. This includes an actuarial mentor (Brea from Etched Actuarial), a personalized study schedule, weekly accountability check-ins, a Q&A forum and performance targets so that you feel 100% confident that you’re preparing the right way.
Now that you know why study materials are important, I’ll compare and contrast the differences between the most popular options. Hopefully this will give you some insight into which options are best for you.
I’ve broke the comparison down into study manuals and online seminars. Study manuals are best for people that prefer to read, whereas an online seminar would be best for anyone that prefers to watch video lessons.
Provider | Video Lessons? | Features |
---|---|---|
ACTEX | No | For anyone that prefers to read, most affordable, includes GOAL |
ASM | No | For anyone that prefers to read, most affordable, includes GOAL |
Coaching Actuaries | No/Yes (depending on bundle) | For anyone that prefers to read or watch videos (depending on bundle), includes ADAPT, most affordable video option, student discount |
TIA | Yes | For anyone that prefers to read or watch videos (depending on bundle), assumes no prior knowledge, student discount |
Study Strategy Program | No | Personally guides you step-by-step on how to fully prepare for your exam, does not include study material |
ASM (you can see a sample here) and ACTEX (you can see a sample here) are both very similar, which is why I’ve included them both together in the same section.
Both of these manuals are great for Exam P, but ACTEX is the more popular one. I like that ACTEX includes a calculus and algebra review at the beginning (but this is available for free in their sample linked above). Free unlock code for lg b470. The choice between the two really just comes down to the style of writing that you prefer.
They both have many great features. In particular, I love that they include GOAL. GOAL is an online program with over 1200 practice problems for Exam P. You can use it to take practice exams in simulated exam conditions, or to quiz yourself on topics that you’re having difficulty with.
In addition to that, they both have Pass Guarantee clauses which allow you to get an extension on everything in the package if you fail your exam. This only applies in certain situations, so make sure to read the Pass Guarantee details before purchasing.
Lastly, I like that both of these manuals can be purchased electronically or a physical copy can be purchased. Personally, I prefer to have a physical copy so that I can write in it (or sell it after my exam is done). But the electronic version is nice for anyone that lives outside the U.S. and doesn’t want to pay the high shipping costs.
Another very good study manual option for Exam P is the Coaching Actuaries [ADAPT + Manual] option. ADAPT is similar to GOAL, which is included with the ASM and ACTEX study manuals. It gives you hundreds of practice problems, but unlike GOAL, they’re rated by difficulty level so you can gradually work on harder and harder problems as you improve.
The study manual included in this bundle is very well designed and helpful, but unfortunately they don’t have a sample available on their website.
The Coaching Actuaries Exam P manual is only available electronically, but the benefit of this is that you’ll always have the most up-to-date version. Also, in my opinion, the ADAPT technology is a bit more advanced than GOAL that is included with ASM and ACTEX.
Any of these three of these options (ASM, ACTEX, Coaching Actuaries [ADAPT + Manual]) will be enough to fully prepare for your exam if you used them properly. But, going with ASM or ACTEX is the more affordable option.
Generally I recommend purchasing your study manual new. The new versions are the most up-to-date with any syllabus changes and they’ll include GOAL. In my opinion, having GOAL is extremely beneficial and I wouldn’t recommend going without either it or ADAPT.
Using an old version of the ACTEX or ASM manual is OK if you’re on a tight budget. It should be newer than 2015 though, otherwise it’s getting too outdated. Probability Generating Functions were added into the syllabus in 2018 so an older manual may not have any information on that.
Since Coaching Actuaries [Manual + ADAPT] is only available electronically, you’ll always have the most up-to-date version if you purchase it.
Online seminars offer something that study manuals don’t: Video lessons!
If you prefer to learn by watching videos and having an instructor explain things to you through a slide-show type presentation, then an online seminar may be better for you. The most popular online seminars for Exam P are TIA (The Infinite Actuary) and the Coaching Actuaries [Learn + ADAPT] package.
Online seminars are more expensive than the ASM and ACTEX study manuals that I talked about earlier, especially if you’re not a student. Fortunately, student discounts are available at purchase on both the TIA package or the Coaching Actuaries [ADAPT + Learn] Bundle.
To decide if this is a good option for you, you should first check out some of the sample videos to make sure that you like the teacher’s presentation style. You can find sample videos from the TIA seminar on their website.
I’ve heard lots of good things the TIA seminar, including:
1. The videos are very well done.
2. Instructors are able to answer your questions about the videos in the online forums.
3. Videos can be downloaded to your phone or tablet (only a certain # at a time) so that you can watch even when you don’t have internet access.
I also like the fact that TIA offers a Pass Guarantee (free 6 month extension of their online seminar) if you don’t pass the first time. That’ll save you some money in the unfortunate situation that it happens. Of course, you should read the conditions on their website for when this Pass Guarantee will apply.
Another great feature about the TIA seminar is that they assume no prior knowledge of the exam syllabus. So if you’re rusty on your calculus and algebra skills, or if you’ve never seen some of the concepts before, TIA should do a good job of teaching you everything you need to know right from the basics.
Similar to TIA, you’ll also want to watch a video sample from Coaching Actuaries to make sure that you like the teaching style. You can watch a sample video here.
The [ADAPT + Learn] Bundle includes video lessons, ADAPT and an online study manual. ADAPT is similar to GOAL, which is included with the ASM and ACTEX study manuals. It gives you hundreds of practice problems, rated by difficulty level, so that you can gradually work on harder and harder problems as you improve.
Just like TIA, I’ve heard great things about the Coaching Actuaries seminar:
1. The videos are very well done.
2. Instructors are able to answer your questions about the videos in the online forums.
3. Most practice questions have video solutions.
Like TIA, ASM and ACTEX, Coaching Actuaries also has a Pass Guarantee (on longer subscription lengths) so that you can get a free extension if you fail. Before purchasing, you should read the conditions in which this Pass Guarantee will apply though.
Deciding between these two options is a tough choice!
If you don’t have any prior calculus and algebra background (or if it has been a while since you studied it) then I recommend going with the TIA online seminar. They’re video lessons assume no prior knowledge of these concepts.
In any other situation, I recommend going with the Coaching Actuaries [ADAPT + Learn] option because of the ADAPT program that you’ll have access to is more advanced than the technology that TIA has for practice problems and exams. Also, if you’re not a student, this option is cheaper too.
Be careful when you’re purchasing study materials. Amazon and E-Bay are not reliable sources.
Here are my recommendations on where to purchase your Exam P study materials:
Study Strategy Program: Once you join, I can help you narrow down your options and choose which materials are best based on your preferred learning style and budget. You can go here to join.
ASM: Purchase on the ACTEX Mad River website. Here’s the link to ASM + your first month of my Study Strategy Program for Exam P.
ACTEX: Purchase on the ACTEX Mad River website. Here’s the link to ACTEX + your first month of my Study Strategy Program for Exam P. In the program I guide you step-by-step on how to prepare for your exam.
TIA: Purchase on their website. Get 23% off your first month in the Study Strategy Program by purchasing TIA and the program on the same day. Use discount code TIAP here to claim get this deal!
Coaching Actuaries: Purchase on their website. Get 23% off your first month in the Study Strategy Program by purchasing TIA and the program on the same day. Use discount code COACHINGP here to claim get this deal!