It is common in the actuarial profession to have to retake exams, even after hundreds of hours of study! Failure does not indicate a person’s inability to become an Actuary, especially with a grade of 4 or 5, exams are challenging! If you were close (score of 4 or 5) to passing exams P (Probability) or exam FM (Financial Mathematics), the Organization of Latino Actuaries invites you to apply to the perseverance exam scholarship.
Eligibility: Latino actuarial candidates who sat for exam P or FM after June 1, 2019 who received a grade of 4 or 5 and need financial support. OLA will cover the cost of the failed exam with the condition that the same exam is retaken after the date of this application and within 90 days of this application. Applicants need to be U.S. based. This scholarship is not designed for individuals with full-time jobs in an actuarial position.
Selection Criteria: Applications will be reviewed seeking candidates who show commitment to pursuing the actuarial career and have a plan to improve their scores. Eligible applicants will be asked to answer some questions and submit their exam transcript showing the grade and the date the exam was taken. Preference will be given to applicants who need greater assistance and who will benefit the most.
Deadline: The deadline to apply is 90 days after the failed exam sitting except for students who sat for exams from June 1 through September 30, 2019 who can apply before the end of 2019. Winners will be notified via e-mail.
If you don’t have funds to register for the next sitting, you can register to the subsequent sitting once you have the check.
If you have any questions about this application, please contact us at LatinoActuaries+Exam@gmail.com.