Actuarial Failure. Can you tell me one successful person, who got successful without facing failure in life?
If everyone fails, will that be considered as failure or step in learning. If everyone goes through failure before becoming successful then a failure should be embraced, isn’t it?
And we all know; failure is very common in actuarial. There are only few persons who clears all papers without failing.
In fact, you are lucky to face it now, you are taking yourself to the next step. The step when you understand your mistakes. The seep when you are growing. And that’s good, you should give a party (and invite me too :p).
How to overcome failure?
The best way to overcome failure is to understand failure. Try to understand why you failed. Try to think about the mistakes that you did. Try to ask yourself these questions:
Have you started preparations early?
Have you done enough past papers?
Have you done revision from time to time?
Were your concepts clear?
Try to find that shortcoming, and convert that into overcoming.
And even if you think that you did everything right still you fail. Then it’s alright. Its fine. Sometimes the time is just bad, sometimes examiner mood is bad. It’s alright.
Failure just means you are growing. And you need to embrace it!
So when is the party huh!
And one of my favorite quotes “Don’t fear for facing failure in the first attempt, because even the Maths starts with zero”
Blog 32: Giffen Goods by Xavier Lo, FIA, FRM, MBABlog 31: The Insurance Industry and Hedging with Derivative Instruments by Xavier Lo, FIA, FRM, MBASpecial Blog: Theory Of Appropriate Salary Thresholds by Xavier Lo, FIA, FRM, MBABlog 30: Impact of Covid-19 on the General Insurance Industry by Xavier Lo, FIA, FRM, MBA