do you know CAS results in time to cancel SOA M?

[pythag0ras]

I'm working in P&C so I am considering taking both CAS 3 and SOA M, but since I will have to pay for the second exam myself I want to know how possible it would be to take CAS 3 on 5/4 and then determine with reasonable accuracy whether I passed before the SOA exam on 5/19. That would enable me to get a refund (except for $60, which seems worth it given the option value) for the SOA exam if I passed CAS. How soon and how accurately can I know, though?
-Does CAS always post the exam and solutions online, and how soon do they do that?
-Does CAS always send candidates their answers, and how soon do they do that?
[for the above two I realize I would have to rely on unofficial passmark estimates]
-How soon are official results available for CAS?

Thanks!

[blackjack]

They release official answers usually 1 week or so after the exam date. Have your exam sent back to you though (you can do this on the CAS exams using a self-addressed stamped envelope and you'll have it in a couple of days at most) and check on this website for concensus answers. You'll find the answers here are almost always right on with the exception of a select few which may be arguable. You will then have a good feeling for how you did within 3 or so days.

[2M]

There are two weeks between CAS 3 and exam M this time, plenty of time to find out the results prior to exam M.

[pythag0ras]

But I wouldn't know officially (i.e. CAS would tell me whether I passed or not) until well after the SOA exam, right? I would need to guess at the passmark and then be comfortably enough over it if I were to gamble and sit out the SOA test.

[2M]

But I wouldn't know officially (i.e. CAS would tell me whether I passed or not) until well after the SOA exam, right? I would need to guess at the passmark and then be comfortably enough over it if I were to gamble and sit out the SOA test.

CAS passmarks have been in the 45-48 range. So say you got in the 50's somewhere, then you would feel comfortable. If you got anywhere close to 45-48, then best not to gamble.

[Sox34]

(except for $60, which seems worth it given the option value) !

I didn't realize the refund was all but $60... that seems very reasonable - I thought it was only a 50% refund.

[pythag0ras]

It's on p. 12 of the SOA spring catalog

[NewTubaBoy]

I never understood questions like this... The CAS accepts credit for SOA-M. If you are even considering changing careers (or confused about which exam to take) I think you should definitely take SOA-M. Your actuarial employeer (even if P&C) has to take the credit for it becuase the CAS recognizes the credit for it.

I would cancel your registration for CAS-3 and just take SOA-M. Granted, if you do end up going to P&C there are probably some life contingencies material that you won't need in your career.

I work for a P&C company and it doesn't matter one bit to the people there what exam you take. Its good to keep your options open anyway, especially this young in our careers.

[Colymbosathon ecplecticos]

As I have written before, it makes sense to take both if you are on the CAS track since that gives you two bites at the apple.

[2M]

But this time around, take a look at the syllabus for both the CAS and the SOA tests. See what the big differences are and if you feel you can study for both tests. The differences in the past were fairly minor however, there are more differences this time.

[Mary Frances]

CAS added statistics back into Exam 3 because we believe there was a gap for candidates both in preparing for Exam 4 and more generally in their practice. Particularly with more and more complex modeling coming into play, a solid grounding in basic stats is important. So the difference in the syllabus is not just whim, and we think casualty actuaries are better served by what they learn on CAS-3. We're still willing to take the SOA version to help people who aren't yet employed or who want to switch. Switching societies is relatively rare, though, so if you're already in a CAS job and you're happy with it, take the CAS version unless you're a glutton for punishment and want to prepare for both exams.

[DW Simpson]

As I have written before, it makes sense to take both if you are on the CAS track since that gives you two bites at the apple.

Exactly.

[Renshi G]

As I have written before, it makes sense to take both if you are on the CAS track since that gives you two bites at the apple. I agree wholeheartedly, and I think that people who do both may learn some valuable material that they otherwise wouldn't.

[2M]

Switching societies is relatively rare, though, so if you're already in a CAS job and you're happy with it, take the CAS version unless you're a glutton for punishment and want to prepare for both exams.

This may be the key right here, as there are bigger differences in the exam this time.

[pythag0ras]

That's exactly right--I think in previous sittings I would have opted for both, but the difference in the syllabi has now convinced me to sit just for CAS.

[Lucy]

If I were sitting for it, I would sign up for both, but study for the CAS exam. Then I would guess how I did on the CAS exam, and either ask for my money back, or buy the more expensive option, if it looked really close. (Note that the value of the option is largest if I am close, since that's the only way I'm likely to pass one and fail the other. If I think I either passed or failed by a lot, the option isn't worth much.)

I think there's still enough overlap for the dual strategy to be worthwhile. But you do need to be a glutton for punishment.

[Sox34]

what is the refund from SOA if you sign up for both CAS 3 and SOA M and then decide that CAS went well enough to not take SOA? The website is a little unclear especially about the time by which you have to let the SOA know that you are not taking it.

[wat?]

what is the refund from SOA if you sign up for both CAS 3 and SOA M and then decide that CAS went well enough to not take SOA? The website is a little unclear especially about the time by which you have to let the SOA know that you are not taking it.
The SOA Catalog states that in order to get a refund, you must send in a written request for a refund, and it must arrive before June 30, 2005.

So, if you feel you did well enough on CAS 3, and that's all you'd like, then simply don't show up for SOA M, and send in a letter (not sure if e-mail is sufficient) saying that you didn't want to sit for SOA M this time around and you'll get your money back, less $60. The $60 is "administrative fees": kind of a non-refundable deposit.