View Full Version : More questions on the upcoming Conversion
flora77
08-03-2005, 03:33 PM
I hope someone can clear the questions I have. Thanks
1. I'm under the assumption that unless one has credits from the Pre-2000 conversion or from taking exams such as(CFA, FRM...... ) then you can't use PD for FSA. If you used PD for ASA then it counts as EXAM CSP.
2. Any PD credits earned aside from the two methods above will just expire in July 2007 when PD credits will be completely replaced unless you have Courses 1-8.
3. If I am in the following Scenario in Jan 2007
Course 1-4,6-8
FAP modules 1-5 + 1st FAP exam
Will I be allowed to use PD and finish up for FSA or will I be stuck doing Exam CSP? Been reading the posts for the past few weeks and the way I interpret it is that (FAP modules 1-5 + 1st FAP exam) will not be backward compatible that it doesn't translate back to 5 and hence give you credit for Course 1-8.
Thanks again for your feedback.
1. I'm under the assumption that unless one has credits from the Pre-2000 conversion or from taking exams such as(CFA, FRM...... ) then you can't use PD for FSA. If you used PD for ASA then it counts as EXAM CSP.
Well, in order to do the PD for FSA, you'll need 1-8. If you're just trying to get PD so that you won't have to deal with one of those big exams, then yes, you'll need pre-2000 conversion exam credits (although I'm not sure about the other exams qualifying you for the same thing). However, if you only have PD, and not Course 8, you'll get credit for Exam DP (Design & Pricing).
2. Any PD credits earned aside from the two methods above will just expire in July 2007 when PD credits will be completely replaced unless you have Courses 1-8.
Right now, the belief seems to be that if you have PD credits, but less than 50 when June 30, 2007 rolls around, you lose them all, whether or not you have Courses 1-8 or not. That may not be set in stone, because no documentation (that I can think of) stipulates whether or not this is so.
3. If I am in the following Scenario in Jan 2007
Course 1-4,6-8
FAP modules 1-5 + 1st FAP exam
Will I be allowed to use PD and finish up for FSA or will I be stuck doing Exam CSP? Been reading the posts for the past few weeks and the way I interpret it is that (FAP modules 1-5 + 1st FAP exam) will not be backward compatible that it doesn't translate back to 5 and hence give you credit for Course 1-8.
You won't be qualified to use PD (unless you have pre-2000 credits). To qualify to use PD, you'll need Courses 1-8. FAP 1-5 + FAP Exam 1 does not constitute a substitute for Course 5. Thus, I believe you're correct in that you'll need to take Exam CSP.
However, it would be good for someone to check with the SOA - maybe send them a note/e-mail as to whether the PD prerequisites will stand through 2007 (i.e., need Courses 1-8 or pre-2000 credits as of 1/1/2006).
1. I'm under the assumption that unless one has credits from the Pre-2000 conversion or from taking exams such as(CFA, FRM...... ) then you can't use PD for FSA. If you used PD for ASA then it counts as EXAM CSP.
If you have transition credits from the Pre-2000 conversion I think this allows you to start PD before passing exams 1-8. It doesn't mean that you can't use PD towards your FSA if you don't have these credits, it just means that you can't start working on PD until you pass 1-8.
PD for ASA is the same as PD for FSA as far as the transition is concerned. PD or Course 8 alone = Exam DP; PD & Course 8 = DP and CSP.
2. Any PD credits earned aside from the two methods above will just expire in July 2007 when PD credits will be completely replaced unless you have Courses 1-8. It's my understanding that ALL PD credits (regardless of how they are earned) will expire at the end of 2007 unless you have completed your PD.
3. If I am in the following Scenario in Jan 2007
Course 1-4,6-8
FAP modules 1-5 + 1st FAP exam
Will I be allowed to use PD and finish up for FSA or will I be stuck doing Exam CSP? Been reading the posts for the past few weeks and the way I interpret it is that (FAP modules 1-5 + 1st FAP exam) will not be backward compatible that it doesn't translate back to 5 and hence give you credit for Course 1-8.This is true. If you want to take modules then you have to get your FSA under the new system.
If you're in the situation you described above, you have two scenarios where you can do PD and get out of Exam CSP
1. You have pre-2000 transition credits and can start PD at 1/1/06
2. You haven't applied for your ASA yet and you can use PD towards your ASA. This has different rules than the FSA PD, but ASA PD transfers over to the new system the same as FSA PD
Otherwise, if you haven't passed all of 1-8 you're out of luck on using PD to get out of Exam CSP
Someone please correct me if any of this is wrong ....
flora77
08-03-2005, 05:13 PM
Thanks,
I couldn't think of a better place to put this, so:
Town Hall Web Conference for Candidates on
Education Redesign
Tuesday, December 6, 2005
1:00-2:30 p.m. Central Standard Time
As you know, the new preliminary exams and CBT offering of Exam P were introduced this year. The second component of the Society of Actuaries' ongoing redesign of its education system is due to be introduced in January 2006. This next phase will mark the introduction of web-based education that will provide candidates 24/7 access to a series of modules designed to provide a practical introduction to the Fundamentals of Actuarial Practice (FAP). We recognize that candidates have many questions, ranging from the required reading to registration and fees and other matters.
This session will provide you with the most accurate and up-to-date information on the FAP as well as the FSA modules and exams. The three volunteer leaders of the various design teams working on this project - Stuart Klugman, Steve Eadie and Al Ford will conduct this web conference. To participate in this event on Tuesday, December 6, please send an email message to eq2005@soa.org (mailteq2005@soa.org) with the subject line "Candidate Webcast". Closer to the event, you will be sent information on linking to both the audio and Internet portions of the web conference. For those of you who are unable to join us on that date, we will be recording this session and making it available online. There is no fee to participate in this session.
Finally, while we will schedule ample time for a live Question & Answer period, we do invite you to submit questions in advance. You may do so again by sending those questions via email to eq2005@soa.org (mailteq2005@soa.org). Please use a subject line of "Questions for Candidate Webcast."
We look forward to your participation in this event and we are likewise quite excited about sharing with you the details of the new elements in actuarial education.
There's one happening for employers & study program advisors on October 27th, and I'm sure there'll be talk about it at the SOA Annual meeting, for those of you that can go, but for those of you that can't or want to participate, here's the info.
Kenny
10-21-2005, 04:47 PM
How about here http://www.actuarialoutpost.com/actuarial_discussion_forum/showthread.php?t=65664 oops, scratch that last part.
How about here http://www.actuarialoutpost.com/actuarial_discussion_forum/showthread.php?t=65664 as in the top thread of this section :wink:
I noticed it about 5 minutes after I'd posted it here.
Oh well. p = p + 1.
Oh well. p = p + 1.
Suppose p = p + 1
Then, p + (- p) = p + 1 + (-p)
Implying 0 = 1 (*)
(*) is clearly false.
Thus, p <> p + 1
Wat? color is the sky in your world, Wat? ????
Suppose p = p + 1
Then, p + (- p) = p + 1 + (-p)
Implying 0 = 1 (*)
(*) is clearly false.
Thus, p <> p + 1
That's assuming the "p" on the left is the same as the "p" on the right.
Wat? color is the sky in your world, Wat? ????
A deep mauve. That's what the voices are telling me, anyway. :tfh:
That's assuming the "p" on the left is the same as the "p" on the right.
You'd make an outstanding professor, wat? Not too late to make the switch!
You'd make an outstanding professor, wat? Not too late to make the switch!
That takes intelligence. But I digress.
Lois Lane
10-25-2005, 09:04 AM
It's my understanding that ALL PD credits (regardless of how they are earned) will expire at the end of 2007 unless you have completed your PD.
does anyone have an SOA link that says this? i hadn't heard this before.
rekrap
10-25-2005, 09:24 AM
does anyone have an SOA link that says this? i hadn't heard this before.
Conversion PDF (http://www.soa.org/ccm/cms-service/stream/asset?asset_id=1990073)
Final PD: Executed PD plans will be accepted through the end of June 2007. After 6/30/07, the PD component as it currently exists will be discontinued.
There's also a FAQ (http://www.soa.org/ccm/content/exams-education-jobs/education-redesign/education-redesign-frequently-asked-questions-22005/).
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