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  #21  
Old 12-21-2010, 10:48 AM
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Carol Marler
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Quote:
Originally Posted by PhildeTruth View Post
Well given that if you take college credits in the UK, you can be exempted for all the prelims in the US. If you take a CERA module in UK, you can be exempted for modules in the US. A CERA in the UK is deemed equivalent to a CERA in the US anyway by the swiss treaty, and so it is allowed full mutual recognition.

Summary: Each part of the UK CERA credential process is recognized in exam waivers with the SOA, and then at the credential level, full mutual recognition is allowed.

The 2010 PRESIDENT OF THE SOA has never taken an SOA actuarial exam! You think CERAs will be any different?
I think that you (AND BRUCE) left out the FSA module and the FSA exam that go into getting an SOA CERA.
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  #22  
Old 12-21-2010, 11:18 AM
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If only somebody had thought to write a letter to the SOA Board that made this point.
hmmm..... remembering remembering...nope, too lazy to search the AO.
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  #23  
Old 12-21-2010, 11:20 AM
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That was my understanding (with the MR exception that campbell and Phil have pointed out). However, that is NOT what the Bruce Schobel quote above says.
I was not talking about mutual recognition.

I was referring to SOA exam waivers [too lazy to search it now]. Check it out on the SOA website. They make no distinction between how you got the UK exam credits.

I have written to the SOA =twice= about the exam waivers. I keep getting put off, so far. We'll see if I ever get an answer.
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  #24  
Old 12-21-2010, 11:47 AM
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Originally Posted by tommie frazier View Post
so a UK-CERA who applies for soa membership will be denied? or made an affiliate member? I thought the soa had but 2 classes of membership: ASA and FSA. if someone is accepted as a member, they are which then?
Exactly.
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  #25  
Old 12-21-2010, 12:20 PM
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This is how it works:

1) FIA = FSA through MRA (implication: if you get FIA through MRA say from other continental European country ... they have a "*" with your FIA which means you cannot get FSA through MRA. In other words only FIA who passed UK exams can get FSA through MRA)
2) ASA not subject to MRA
3) SOA-CERA (only ... which include some FCAS prior to CAS-CERA implementation) would be approved for ASA (NO Affiliate class at SOA ... only the CAS has Affiliate status but you do not vote!!)

So ... no caveat ...
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  #26  
Old 12-21-2010, 03:57 PM
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Here's how it really works:

See CERA requirements here and Faculty Exam waivers here
Code:
CERA requirement                        Faculty Exam for Waiver

Exam P                                                  CT3 
Exam FM                                                CT2
VEE Economics                                       CT7
Exam MFE                                              CT8
Exam C                                                  CT6
Advanced Finance/ERM Exam                     SA5 and ST5
Operational Risk Module                            none
APC                                                      none
All CT exams obtained through uni credit are still eligible for waivers so you can get the CERA with university credit plus 1 SOA exam and 1 module. Or you can just get ASA with university credit and the FAP modules. That is rather surpirsing. I'd be interested in seeing stats on how many people have requested exam waivers.
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  #27  
Old 12-21-2010, 04:18 PM
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Originally Posted by Kenny View Post
Here's how it really works:

See CERA requirements here and Faculty Exam waivers here
Code:
CERA requirement                        Faculty Exam for Waiver
 
Exam P                                                  CT3 
Exam FM                                                CT2
VEE Economics                                       CT7
Exam MFE                                              CT8
Exam C                                                  CT6
Advanced Finance/ERM Exam                     SA5 and ST5
Operational Risk Module                            none
APC                                                      none
All CT exams obtained through uni credit are still eligible for waivers so you can get the CERA with university credit plus 1 SOA exam and 1 module. Or you can just get ASA with university credit and the FAP modules. That is rather surpirsing. I'd be interested in seeing stats on how many people have requested exam waivers.
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  #28  
Old 12-21-2010, 04:21 PM
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Dear mlschop,

Is the sky falling yet? Better get your .

Regards,

PhildeTruth
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  #29  
Old 12-21-2010, 04:27 PM
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Originally Posted by PhildeTruth View Post
Dear mlschop,

Is the sky falling yet? Better get your .

Regards,

PhildeTruth
Nah, no sky is falling yet. But there are definitely clouds forming.
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  #30  
Old 12-21-2010, 04:28 PM
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Quote:
Originally Posted by Kenny View Post
Here's how it really works:

See CERA requirements here and Faculty Exam waivers here
Code:
CERA requirement                        Faculty Exam for Waiver

Exam P                                                  CT3 
Exam FM                                                CT2
VEE Economics                                       CT7
Exam MFE                                              CT8
Exam C                                                  CT6
Advanced Finance/ERM Exam                     SA5 and ST5
Operational Risk Module                            none
APC                                                      none
All CT exams obtained through uni credit are still eligible for waivers so you can get the CERA with university credit plus 1 SOA exam and 1 module. Or you can just get ASA with university credit and the FAP modules. That is rather surpirsing. I'd be interested in seeing stats on how many people have requested exam waivers.
Eligible at SOA discretion ... and note that they say generally Faculty and Institute courses should have been acquired by passing exams. Personally I have never seen a UK actuary (non-FIA) who is ASA ... MRA work between FSA and FIA ... But for ASA who are sick of AFE exam one can definitely do SA5 and ST5 instead of AFE ...
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