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tope
08-04-2004, 10:09 AM
I have just submitted my PD plan (2 weeks ago)

Does anyone know of any reason why your PD plan will be rejected besides not following the requirements?, also how long into the review process do they usually tell you ...Am I to assume that if you havent heard from the Commitee after 4 weeks, that you are ok?

Actuary_JB
08-04-2004, 01:26 PM
If you meet all of the requirements, your plan will probably not be rejected. However, they may request additional information or clarification if they don't feel you have fully satisfied all items on the checklist. This isn't a "rejection," but it does cause a delay in your approval.

If you receive the "rubber stamp" approval, I think you will generally hear back in just a few days. However, if you plan is receiving a full review (like mine did), it could be as long as 3-4 weeks before you hear anything.

Once the PD plan is approved, you should hear from the SOA fairly quickly.

JB

tope
08-04-2004, 03:18 PM
Rubber stamp approval...I ve not heard of anyone who got that..if anyone has, can you please let one know what was done to get that approval?

Thanks for the tip JB

Woodrow
08-04-2004, 03:32 PM
Are we talking about the initial plan, or your final executed plan?


Rubber stamp approval...I ve not heard of anyone who got that..if anyone has, can you please let one know what was done to get that approval?

Get lucky. I think he is referring to the pact that some completed PD plans don't really get reviewed at all.

Actuary_JB
08-04-2004, 04:56 PM
Sorry for the confusion. I'm referring to the final Executed PD plan. Basically, for most of the executed PD plans, they just check to see if you have fulfilled all of the required credits needed. If so, and your advisor has signed off on the plan, they approve it without actually reading through all of your information (write-ups, project, etc.) This is what I was referring to as the "rubber stamp" approval.

The SOA will randomly select a few PD plans to review just to make sure that the candidates are actually doing the work. If you're one of the unlucky ones to get selected, the SOA will thoroughly review all of your material to make sure you have met all of the requirements. This obviously takes much longer and could lead to more work for you.

Thus, as Woodrow said, just get lucky.

JB

tope
08-05-2004, 09:27 AM
So, you are saying you could get your PD response in a matter of days, few weeks? :viola:

Jeez, I hope so, I can use the moula that I will get from gettin my ASA with this ASAP :P :D


I wonder what is the earliest a person has recieved confirmation from SOA

paranoid
08-05-2004, 08:54 PM
I wonder what is the earliest a person has recieved confirmation from SOA

I had a coworker overnight his on a Thursday, had an email approval by Tuesday. Mine, otoh, took more than 4 weeks. Overnighted to the SOA the same day.

Swiper
08-06-2004, 09:17 AM
I overnighted mine on a Monday and received approval the very next day on Tuesday. I, however, had 40 credits from transition and only needed to submit 10 additional credits which may have contributed to the quick approval.

Faye
08-09-2004, 01:15 PM
One of my coworker got rejected before. He is now qualified.

Storm
08-09-2004, 02:32 PM
I have 5 credits. How does this work? I know it is applied to the project part, but how do I reflect it?

RedSoxFan
08-10-2004, 01:14 PM
I have 5 credits. How does this work? I know it is applied to the project part, but how do I reflect it?

I thought you had to have at least 15 transition credits to get out of the project. If not, you must do the project. In your case, your 5 credits will count as regular SOA-approved credits.

Storm
08-10-2004, 01:29 PM
This is from the SOA website:

"Evaluation-validated programs (with passing score) Values for many examination-validated options are listed on the PD page of the SOA web site.
conversion credit from pre-2000 SOA education system Credits are first applied to the project component, then to the SOA-approved program requirement and finally to any remaining units needed. However, a candidate with 15 or more units of conversion credit may elect to complete a project if desired. Note: Candidates completing PD for ASA level credit must have a minimum of 25 units of examination-validated credit plus 15 units of conversion credit from the pre-2000 system to be exempt from completing the project component. "

I am not trying to get out of the project, but it seems those five credits will apply to the project. Just curious how it would.

Swiper
08-10-2004, 01:59 PM
This is from the SOA website:

However, a candidate with 15 or more units of conversion credit may elect to complete a project if desired.

I agree with RedSoxFan, you need to complete the project. I think the above quote from your post indicates that. Stating that those with 15 or more credits may elect to complete a project basically indicates that only those with 15 or less credits are required to complete the project.

Also, I know someone who had 10 pre-2000 credits and they had to complete the project.

Storm
08-10-2004, 02:43 PM
I was always under the impression that I would have to complete the project. However, it sounds like I can do a 10 credit project instead of a 15 credit project (at least that is how I read it). I was just wondering how can those 5 credits be quantified for a project.

Swiper
08-10-2004, 02:48 PM
it sounds like I can do a 10 credit project instead of a 15 credit project (at least that is how I read it). I was just wondering how can those 5 credits be quantified for a project.

It is my understanding, and based on talking with others in your situation, that you have to complete a 15 credit project with your 5 credits applying toward the remaining 35 pd credits. I don't think you are allowed to complete a 5 or 10 credits project, only a 15 credit project. I am pretty sure that when it comes to applying pre-2000 credits toward the project it is either:

a. you have 15 or more and are exempt from doing a project (unless you elect to do one).

b. you have less than 15 credits and must complete a 15 credit project with your pre-2000 credits applying toward the the remaining credits

Storm
08-10-2004, 03:53 PM
Sounds good. Thanks!

hopper
08-11-2004, 11:40 AM
if you have 10 SOA credits and 15 credits from PRM exams, do you still have to do the project?

aces219
08-11-2004, 12:15 PM
if you have 10 SOA credits and 15 credits from PRM exams, do you still have to do the project?

I believe so.

Emily
08-11-2004, 01:59 PM
if you have 10 SOA credits and 15 credits from PRM exams, do you still have to do the project?
You would need 15 conversion credits from the pre-2000 SOA exams. That's not the same as SOA approved credits.

RedSoxFan
08-11-2004, 04:48 PM
if you have 10 SOA credits and 15 credits from PRM exams, do you still have to do the project?
You would need 15 conversion credits from the pre-2000 SOA exams. That's not the same as SOA approved credits.

What are PRM exams?

This might help: The CPA exam is worth 15 credits. But you are not allowed to apply it to the project requirement, even if you passed it before 2000. I know that for a fact.

Emily
08-11-2004, 06:20 PM
If you don't have at least 15 PD credits that have been showing up on your SOA transcript for the last four years, then you have to do the project.

hopper
08-11-2004, 10:01 PM
Darn it! I should not have taken that new job in Nov 99. Couldn't even pass demography and that was all I took :) Maybe, I should not have switched jobs 5 times in the last 8 years :-?

tope
08-17-2004, 04:00 PM
I ve just been informed by the PDcomments that they expect to have my PD back in 2 weeks, that makes it about 5 weeks since submittal


Does anyone know of a situation where your PD plan was sent back to you after having waited about 5 weeks?. If the PD commitee needed something else, how soon do they notify you of this?

Thanks

TW Man
08-17-2004, 10:26 PM
Tope;

It is bad to hear that we need to wait for 5 weeks. I also want to know the answer. If the PD commitee needed something else, how soon do they notify you of this?
Anyone can give us the advice. Thanks.

awacs
08-25-2004, 05:24 PM
But look at this quote from
http://www.soa.org/ccm/content/exams-education-jobs/candidate-and-exam-information/asachanges_faqs/ :

"Answer: Conversion credits allocated to PD are first applied to satisfying the examination-validated requirement. A candidate must have a minimum of 25 units to satisfy this requirement. If the candidate has a sufficient number of additional conversion PD credits, then 15 units are applied to the project component, and any remaining to the required seminar/meeting units (10)."

Which makes me think that a candidate with (only) 25 conversion credits does NOT get project credit, and, logically, would be required to complete a project.

Emily
08-25-2004, 06:48 PM
Which makes me think that a candidate with (only) 25 conversion credits does NOT get project credit, and, logically, would be required to complete a project.
Not quite exactly. That quote only applies to ASA PD. And your comment is only true if the candidate has only 25 conversion credits and no other exam validated credits. Someone with 25 credits for the CFA exams, and 15 credits from the SOA conversion would not have to do a project.

awacs
08-25-2004, 09:31 PM
Which makes me think that a candidate with (only) 25 conversion credits does NOT get project credit, and, logically, would be required to complete a project.
Not quite exactly. That quote only applies to ASA PD. And your comment is only true if the candidate has only 25 conversion credits and no other exam validated credits. Someone with 25 credits for the CFA exams, and 15 credits from the SOA conversion would not have to do a project.

But someone who had the opposite (15 CFA credits/25 Y2K) credits ... would? Or any number up to 40?

Despite the clear statement to the contrary?

Why should someone who has 25 credits be "worse" (from the project requirement standpoint) than a candidate with 20?

Can a candidate "disclaim" conversion credits?

mr.c
08-25-2004, 10:34 PM
But look at this quote from
http://www.soa.org/ccm/content/exams-education-jobs/candidate-and-exam-information/asachanges_faqs/ :

"Answer: Conversion credits allocated to PD are first applied to satisfying the examination-validated requirement. A candidate must have a minimum of 25 units to satisfy this requirement. If the candidate has a sufficient number of additional conversion PD credits, then 15 units are applied to the project component, and any remaining to the required seminar/meeting units (10)."

Which makes me think that a candidate with (only) 25 conversion credits does NOT get project credit, and, logically, would be required to complete a project.

Does that quote refer to PD for ASA? For PD for FSA, I believe that conversion credits do apply to the project first. For ASA, exam-validated credits are needed, and IMHO, it makes more sense to apply conversion credits to that first.

mr.c
08-25-2004, 10:38 PM
Why should someone who has 25 credits be "worse" (from the project requirement standpoint) than a candidate with 20?

Sure, someone is worse from the project standpoint with 25 credits than 20, but that person is better from the exam-validated standpoint. Wouldn't you rather do a project than take an exam? If you really do have an exam 5 or 10 credit exam to take, maybe you could apply for an exception from the SOA.