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  #101  
Old 05-30-2013, 12:33 PM
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Maybe I should just skip the textbook entirely and save the ~$100 dollars. Instead i'll just glance through some of my work spreadsheets a couple of days before the exam. By your logic nobody "in the industry" should have too much trouble passing the CAS ratemaking/reserving exams or the FSA level exams for people in the life/health industry.
Although you're being snarky, you're not far for the truth for the basic pricing/reserving methods. However, in your day-to-day work you likely don't have to memorize certain list items that still find their way onto the exams.

Plus, there are likely methods that you don't currently use because they're not appropriate for your job (pricing vs reserving, claims-made vs occurrence, etc). In general, if you use a particular method for your work, then you're not going to learn much about that method from studying... you may learn about other methods.
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  #102  
Old 05-30-2013, 12:41 PM
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Although you're being snarky, you're not far for the truth for the basic pricing/reserving methods. However, in your day-to-day work you likely don't have to memorize certain list items that still find their way onto the exams.

Plus, there are likely methods that you don't currently use because they're not appropriate for your job (pricing vs reserving, claims-made vs occurrence, etc). In general, if you use a particular method for your work, then you're not going to learn much about that method from studying... you may learn about other methods.
I was being completely sarcastic. The implication by Elsaball (as i read it) that "working in the industry" pre-empted the need for significant time intensive study for a 5 hour FSA level exam sounded completely ludicrous to me.
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  #103  
Old 05-30-2013, 12:57 PM
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I was being completely sarcastic. The implication by Elsaball (as i read it) that "working in the industry" pre-empted the need for significant time intensive study for a 5 hour FSA level exam sounded completely ludicrous to me.
I know you were being sarcastic, but I was pointing out that although Elsaball's claim seems a bit crazy, it's not far from the truth. Perhaps the non-GI FSA exams are different, but the CAS exam 5 is closely related to actual methods often used on the job and actual work experience will significantly reduce required study time.
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  #104  
Old 05-30-2013, 03:58 PM
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Huh, I don't like what you are implying in here.

My guess, (its just a guess), the new book would be a rehash of existing book (which Elsaball thinks very good book?).
My post wasn't implying that the new book would be a "rehash of [the] existing book," and in a different thread I mentioned my belief that the two books will not be so similar (I don't think Jackie wants to fight the CAS for copyright violations), but they will probably cover very similar material from the looks of the SOA syllabus.

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Originally Posted by FSAwannabe View Post
Maybe I should just skip the textbook entirely and save the ~$100 dollars. Instead i'll just glance through some of my work spreadsheets a couple of days before the exam. By your logic nobody "in the industry" should have too much trouble passing the CAS ratemaking/reserving exams or the FSA level exams for people in the life/health industry.
You could do whatever you want, but don't mention something that I did not imply as an implication from my logic. I can't speak for the Life/Health exams, but CAS Part 5 (and SOA Introduction to Ratemaking/Reserving, from the looks of its syllabus) tests concepts and procedures fundamental to most P&C work. You still should prepare for the exam if you've worked in the industry for 20 years, as there probably are a good deal of testable items you aren't familiar with. Also, your understanding of the material may differ from what's presented in the source materials. However, it shouldn't take more than 200-300 hours to adequately prepare for these exams if you have some familiarity with the material.
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  #105  
Old 05-30-2013, 04:43 PM
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My post wasn't implying that the new book would be a "rehash of [the] existing book," and in a different thread I mentioned my belief that the two books will not be so similar (I don't think Jackie wants to fight the CAS for copyright violations), but they will probably cover very similar material from the looks of the SOA syllabus.
I am saying (educated guess) the new text would be a rehash of the existing CAS 5 texts. I am guessing CAS/SOA and authors have worked out a deal wrt copyright issues.
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  #106  
Old 05-30-2013, 04:47 PM
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I am guessing CAS/SOA and authors have worked out a deal wrt copyright issues.
I wouldn't count on a successful (third) career as an underwriter, if I were you.
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  #107  
Old 05-30-2013, 04:47 PM
Elsaball Elsaball is offline
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I am guessing CAS/SOA and authors have worked out a deal wrt copyright issues.
Did you hear this from anyone or is this a guess? I doubt the CAS would do that, unless the SOA agreed to do something drastic, like only try to attract international students to their track (and there's no way they'd agree to that).
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  #108  
Old 05-30-2013, 05:15 PM
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Did you hear this from anyone or is this a guess? I doubt the CAS would do that, unless the SOA agreed to do something drastic, like only try to attract international students to their track (and there's no way they'd agree to that).
Just a guess, connecting dots. CE is implying that I am dead wrong. There is another possibility, that on SOA side lawyers work hard, so there will not be any copyright violation issues. We have to wait until SOA book comes outs, but it is not free.
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  #109  
Old 05-30-2013, 05:47 PM
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I was being completely sarcastic. The implication by Elsaball (as i read it) that "working in the industry" pre-empted the need for significant time intensive study for a 5 hour FSA level exam sounded completely ludicrous to me.
for someone who has several years of relevant experience in the industry, CAS exam 5 should not take more than 3 month to prepare for.

you sound like someone who's outside of the industry trying to get in. FSA-GI may not do you any good.
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  #110  
Old 05-30-2013, 09:04 PM
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The most disturbing glitch is that the main textbook is not yet available. According to ACTEX, the anticipated publishing date is "late June to early July". I was planning to take the exam in October but am now reconsidering.
So why wouldn't you just sit for CAS Part 5?

I'm not asking this in a "FCAS vs FSA" kind of way -- I'm probably headed down the GI track myself, as discussed elsewhere. However, my own bias is to keep my options open / maximize flexibility.

For two years, the SOA will effectively be granting credit for CAS exams. During that window, it would be logical to sit for the exams that net you credit with both societies (and for which there is more study material already available, etc.), thereby keeping your options open for a bit longer.

If you do this, and if in two years the FSA-GI has a bad rep or the SOA reverses its opinion (unlikely, but not impossible), you can opt for FCAS without having lost any ground.
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