DMAC has time limit after you receive DMAC pass grade. All other FSA modules or exams do not have, so far.
You are allowed to start FSA component before you have your FAP.
The 2nd floor hit the point, but I do suggest you start looking for internship or jobs. If you passed your FAP and even get your ASA, without any actuarial working experience, it could be very hard for you to get a job, because you have high credential but no experience, it is very hard for company to give you "correct" salary. Also, think it through, if you are a FSA during your university period without real working experience then no company would recruit you (normally speaking).
So I suggest you start immediately to seek for working experience.
However, if you are going to take FSA exams or FAP (i.e. you determined to pick 1 of these during your schooling period), then I suggest you start your FSA exams. The reason is that, FAP is time consuming in sense of reading and completing the module but it is not hard. Yet FSA exams are time consuming that you need to focus and you cannot split the contents into many many parts. Therefore, during school time, you can focus yourself easier, but during real working environment, you would be very busy (e.g. OT), such that you would have less time to focus on EXAM. On the contrary, for FAP or FSA modules, you can do it a bit by a bit after you call off your day in office.
Hope I am delivering myself clearly.
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