AFOQT Exam Prep 21, Counting and Probability Basics

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