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X Double Prime
07-01-2010, 01:53 PM
Correct me if I am wrong,

But having just passed my first upper (#5), and assuming I pass #6 in the fall,
I will still need to pass new exam 6 AND module/course 2 for ACAS. Being at the transition period, we actually have 1 more requirement than previously for ACAS?

Is this right?

TOTEM
07-01-2010, 01:58 PM
The old exam 7 is split between 6 and the new module. You are getting a break to not have to take the old gigantic exam 7.

Manny Fresh
07-01-2010, 01:58 PM
Yes, but you will be given credit for exam 7, which is a Fellowship level exam

SupraTT
07-01-2010, 02:04 PM
I'm in the same boat as you X Double Prime...kind of sux that we'll probably have to wait until next fall to take new 6, too. But either way, for us, passing current six this fall is pretty freakin' crucial (two less exams to sit for if we do).

Vorian Atreides
07-01-2010, 03:03 PM
Better than having to sit for a second Exam over the same material you just passed. More specifically, I had passed the old CAS Exam 3 which covered LC and about half of the Loss Models material. Then sat for the "new" Exam 4/C which was over all of Loss Models.

There is no additional requirements being introduced to get ACAS. They just split the current Exam 7 into two parts. So agree with Totem.

Plus, we get the benefit of not having to study for all of the new Exam 7.

We come out waaaaaaaaaaaaaaaaaaaaaaaay ahead with this transition.

DrOgey
07-01-2010, 04:11 PM
Is it really that much of an advantage to pass old 6 if one already has credit for old 5?

Before:
Pass old 5
Pass old 6
Pass old 7, 8, & 9
done with 5 exams

After:
Pass old 5
Pass old 6
Transition
Pass new 6 + Module
Pass 8
Pass 9
done with 5 exams + Module

Only difference is a module which is considered a benefit to some.

Vorian Atreides
07-01-2010, 04:16 PM
Is it really that much of an advantage to pass old 6 if one already has credit for old 5?

Before:
Pass old 5
Pass old 6
Pass old 7, 8, & 9
done with 5 exams

After:
Pass old 5
Pass old 6
Transition
Pass new 6 + Module
Pass 8
Pass 9
done with 5 exams + Module

Only difference is a module which is considered a benefit to some.
If you don't pass old 6:

Pass old 5
Transition
Pass new 1/2 Exam 5
Pass new 6 + module
Pass new 7
Pass 8
Pass 9
done with 5.5 + Module.

Note that New 7 has considerably more material than what's on the current 6 syllabus while still being tested for much of the core material on the current 6.

MightySchoop
07-01-2010, 04:23 PM
If you don't pass old 6:

Pass old 5
Transition
Pass new 1/2 Exam 5
Pass new 6 + module
Pass new 7
Pass 8
Pass 9
done with 5.5 + Module.

Note that New 7 has considerably more material than what's on the current 6 syllabus while still being tested for much of the core material on the current 6.

and don't forget that the 1/2 Exam 5's aren't going to be around forever. If it takes you a couple attempts to pass, you run the risk of having to pass the ratemaking material again (though if it takes you that long to pass the reserving material only, the ratemaking stuff can only bring your score up)

CtrlAltDelete
07-01-2010, 04:29 PM
Better than having to sit for a second Exam over the same material you just passed. More specifically, I had passed the old CAS Exam 3 which covered LC and about half of the Loss Models material. Then sat for the "new" Exam 4/C which was over all of Loss Models.

There is no additional requirements being introduced to get ACAS. They just split the current Exam 7 into two parts. So agree with Totem.

Plus, we get the benefit of not having to study for all of the new Exam 7.

We come out waaaaaaaaaaaaaaaaaaaaaaaay ahead with this transition.

:iatp:

The new exam 6 is nothing compared to the old exam 7.

SupraTT
07-01-2010, 06:21 PM
I think a lot of us posting here have passed 5, but none of the other uppers. Given that, just think about the sheer number of exams we still need to pass (whether or not they're half or whole)--old exam 6 is worth two new exams. I don't plan on missing out on this opportunity. I realize I've said nothing new here, just procrastinating a little until beer o'clock.

tommie frazier
07-01-2010, 06:32 PM
and don't forget that the 1/2 Exam 5's aren't going to be around forever. If it takes you a couple attempts to pass, you run the risk of having to pass the ratemaking material again (though if it takes you that long to pass the reserving material only, the ratemaking stuff can only bring your score up)

at least 3 I think.

MightySchoop
07-02-2010, 09:20 AM
From the transition rules (http://www.casact.org/admissions/syllabus/2011/Transition_Rules.pdf)

It is anticipated that this option will be available for at least two sittings after the official conversion to the new education structure.

I would read "at least two" to mean "exactly two" in order to be on the safe side.

|B|rad
07-02-2010, 10:02 AM
From the transition rules (http://www.casact.org/admissions/syllabus/2011/Transition_Rules.pdf)



I would read "at least two" to mean "exactly two" in order to be on the safe side.

I have to expect that pass ratios for these half exams will be not much higher than for the regular exams.

So, take the pool of people who pass 5 but not 6.

Half will pass the first reserving exam administration.

Half of the remainder will pass the second reserving exam administration.

So if you passed 5 (but fail 6 this fall), there's a 25% chance you will end up having to take the full new exam 5 eventually.


Likewise is you failed 5 but pass 6 this fall.

pernishus
07-02-2010, 10:25 AM
So if you passed 5 (but fail 6 this fall), there's a 25% chance you will end up having to take the full new exam 5 eventually.

Your two preceeding statements were okay, but this statement assumes all people have an equal chance of passing an exam.

Vorian Atreides
07-02-2010, 10:52 AM
<snip> Likewise is you failed 5 but pass 6 this fall.
But passing 6 gives you credit for new 7 regardless of whether or not you passed the 1/2 exam on ratemaking.

|B|rad
07-02-2010, 11:49 AM
Your two preceeding statements were okay, but this statement assumes all people have an equal chance of passing an exam.

I will try to write more precisely in the future :duh:

Roughly one quarter of those students who pass one of Old 5 and Old 6 (but not both!) will lose the half-exam credit they earned for New 5.

Vorian Atreides
07-02-2010, 12:37 PM
Those who did not pass current Exam 5 will have a better shot at passing the new 1/2 exam than 50% given that a significant chunk of that exam is getting placed in a Module Course.

DrOgey
07-02-2010, 01:20 PM
If one passes both 5 and 6 before the transition then there is hardly a difference.

If one has credit for old 5 but not old 6 by the transition then you take a step back by having to take "2" new exams instead of just one. I view passing old 6 more as avoiding a step back rather than getting ahead.

DrOgey
07-02-2010, 01:30 PM
If one passes both 5 and 6 before the transition then there is hardly a difference.

If one has credit for old 5 but not old 6 by the transition then you take a step back by having to take "2" new exams instead of just one. I view passing old 6 more as avoiding a step back rather than getting ahead.

To further explain my perspective, splitting exam 3 into two parts didn't gain me anything since I already had credit for the single exam. It now shows up as "2" exams on my transcript under the current structure so you could say I got credit for "2" exams just for taking 1. Since I already had credit when they split though, I didn't gain anything. I just didn't have to sit for "2" exams to get credit for exam 3.