Episode Details

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Permutations (n!/(n−r)!) are for arrangements where order is critical, like assigning specific job titles. - Combinations (n!/(r!(n−r)!)) are for selecting groups where order is irrelevant, like forming a committee. - A helpful mnemonic: **P**ermutation means **P**osition matters; **C**ombination means the **C**ommittee is unordered. - For multiple event probabilities, the keyword 'AND' signals multiplication, while 'OR' signals addition (subtracting any overlap). - The AFOQT uses small numbers, so practice calculating factorials manually to save time and avoid errors. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep