SQL is a de-facto standard language for working with databases. It's used/available in virtually all RDBMSs from the modest (MS Access) to the mighty (Oracle). The addition of proc SQL to SAS has, in my opinion, made SAS easier to approach for technically sophisticated users with limited SAS experience. (The addition of Enterprise Guide has done even more in this respect.)
SAS Certified Predictive Modeler is a more useful certification for an actuary because it has more to do with Predictive Modeling (no surprise there, huh?) and less to do with the underlying SAS language constructs. So Option 3 may be of more practical use than Option 1 for real world application.
Being pragmatic though, either will get favorable attention on a resume', so if Option 1 is more obtainable, go for it. I don't expect that Option 3 will teach you enough about statistics to be useful for a VEE, but I'm not the authority. It's worth checking into. I do expect that Option 3 will include a lot of skills that may not be of practical use yet to most actuarial departments, although some will be.
When your effort is complete though, you're putting a "look at me some more" flag on your resume' at best. Company needs vary, and within a company, job specific needs vary. Continue with your research to make sure your effort moves you in the direction you want, but don't take yourself too seriously in terms of what can be accomplished in terms of predicting the specific needs of any as-yet-to-be-determined job opening.
RW
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