What are some strategies during the actual exam?
There are so many different exam strategies, but these are some Coaching Actuaries swears by:
Right after the exam clock starts, write down long formulas you’re afraid you won’t remember when you’re nervous
Split questions into 3 levels: level 1- easy questions, level 2- questions that are doable but may take time, level 3 hard questions that you don’t understand your first read through and don’t know how to solve at all
Do a quick read on all the questions, then work on level 1 questions first, followed by level 2 and lastly level 3.
For Exam P, FM, MFE & C, try to solve the questions in less than 6 minutes. You must be willing to skip the question if it takes too long.
Write down important formulas and summarize questions in mathematical form. Also, since most of the preliminary exams are multiple-choice exams, sometimes plugging in the given answer choices to your workings to identify the correct solution, may be more efficient.
When guessing, eliminate answers that are definitely wrong first. During the last 10 minutes of the exam, make sure that you have selected an answer for every problem. The last thing you want to do is work the exam until the last minute and then not have time to guess for questions you didn’t solve.
Although doing these things cannot guarantee a passing score, they will without a doubt make the test taking process easier and Raise Your Odds!