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-   -   Impact of SOA changes on CAS candidates (http://www.actuarialoutpost.com/actuarial_discussion_forum/showthread.php?t=317315)

lllj 12-20-2016 06:42 AM

Impact of SOA changes on CAS candidates
 
This doesn't impact me personally but just curious.

It looks like VEE corporate finance, MFE, and C are changing. Will they still count without issues for the CAS VEE requirement, 3F, and 4?

Do you think the CAS will keep letting the SOA run the show for prelims or any chance of them moving to their own exams? (This would be unfortunate for college students needing to pick a track but who knows.)

Domingo Montoya 12-20-2016 11:13 AM

I haven't seen the changes. Do you happen to have a link to what is changing?

nonactuarialactuary 12-20-2016 12:15 PM

Quote:

Originally Posted by Domingo Montoya (Post 8814030)
I haven't seen the changes. Do you happen to have a link to what is changing?

https://www.soa.org/curriculum-chang...anges-default/

Looks like 5 exams moving to 7, plus some other content shuffling throughout the syllabus. Summarized with a chart below. No clue how it impacts the CAS; their website doesn't even mention the changes as far as I can tell.

Also, the transition rules seem to imply that you're exempt from the changes if you can get an ASA by 7/1/2018, but if you don't get your FSA by 7/1/2022, you'll need to add the predictive analytics exam too. If that's seen as a preliminary exam now, I wonder whether or not the CAS will have the same requirements for current ACAS members attaining FCAS status after 7/2/2022.

https://www.soa.org/uploadedImages/F...components.png

https://www.soa.org/uploadedImages/F...hanges-key.png

nonactuarialactuary 12-20-2016 12:22 PM

Also, from the FAQs:

Quote:

Q6: I plan on applying my exams toward earning a designation from the CIA or CAS. How will this work with the revised exams?

A6: The SOA has kept both the Canadian Institute of Actuaries (CIA) and the Casualty Actuarial Society (CAS) informed regarding the changes. Any announcements regarding the effect of the SOA’s exam changes will come directly from those organizations as they are independent from the SOA and set their own rules for membership.
Looks like they told the CAS/CIA about it, but went ahead with the plan before the other organizations could get anything figured out.

PeppermintPatty 12-20-2016 12:51 PM

Yup, they don't seem to want to collaborate. Heaven forbid they make any allowances for the needs of similar organizations, after all they are competing, and want to be the world leader in actuarial education.

I expect both the CIA and the CAS to announce how they will deal with the new SoA exams soon.

Vorian Atreides 12-20-2016 01:20 PM

CAS administered Exam S will likely result in not requiring the SOA Stats for Risk Modeling and the "Long-Term Actuarial Mathematics" courses.

My guess is that the "Predictive Analytics" will be analogous to CAS's "upper level" Exam view of CAS Exams 5 and 6. CAS Exams S, 5, and 8 will likely cover that material, so there would also be no need for a CAS student to take the SOA's version.

MightySchoop 12-20-2016 02:04 PM

Quote:

This is the replacement for the current Exam C (Construction of Actuarial Models). Of the current exams, this one will undergo the largest change. The basic material on estimation has been moved to the Mathematical Statistics VEE subject and specific material on life table estimation appears in the Long-Term Actuarial Mathematics exam. These topics are replaced with more product-oriented information relating to short-term insurance (e.g., health, property, and liability). In particular, the basics of pricing and reserving will be added. This exam will continue to be CBT.
Obviously I haven't seen the syllabus yet, but CAS may not even require this exam, as the description largely duplicates exam 5. Adding some credibility theory to exam S may be sufficient.

lllj 12-26-2016 10:39 AM

Quote:

Originally Posted by MightySchoop (Post 8814363)
Obviously I haven't seen the syllabus yet, but CAS may not even require this exam, as the description largely duplicates exam 5. Adding some credibility theory to exam S may be sufficient.

I'd think they'd need to add something in its place then. Exam C is one of the most relevant prelims to P&C insurance, and it has a lot of stuff not on S.

My impression was that C will still have the core loss models material on it.

Vorian Atreides 12-26-2016 06:22 PM

Quote:

Originally Posted by lllj (Post 8819679)
I'd think they'd need to add something in its place then. Exam C is one of the most relevant prelims to P&C insurance, and it has a lot of stuff not on S.

My impression was that C will still have the core loss models material on it.

:iatp:

abeaupre 12-26-2016 06:32 PM

The CAS will recognize the new versions of MFE and FM : http://www.casact.org/press/index.cf...articleID=3273


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