Are the prelims badly designed as the entrance to the Actuarial field?

[Elinor Dashwood]

Originally Posted by ao fan

FAP is basically a writing exam though, isn't it?

This.

Originally Posted by campbell

Actually, I don't remember what the transition was back in 2007. I think it was exams 5 & 7, actually.

Exam 5 was the one exam I failed.

Course 5 got you credit for FAP 1-5 and the first FAP exam (which was later replaced with the Interim Assessment). Course 7 (pretest + seminar) got you credit for Fap 6-8 and the Final Assessment. Course 6 got you credit for the FSA modules.

Under the old rules you needed 1-4 and then two of 5-8 to get ASA. It could be any two, although Course 7 had pre-requisites. And if you had enough conversion credits from the prior conversion to have *all* of PD, you could get ASA with 1-4, PD and one of (5, 6, 8). You could *not* get ASA with 1-4, 7, PD so you had to pass at least one written exam to get ASA.

Originally Posted by ao fan

I doubt course 7 was the reason anyone was failing to get fsa. It was some kind of seminar with a very high pass rate.

Yes, it was an open-book timed pre-test (you had to study or you'd run out of time, but it had a very high pass rate) plus a seminar that involved a paper and a presentation. From what I understand the seminar was a week of hell but then it was over. It had a fairly high pass rate, but I do know smart actuaries who failed it.

Originally Posted by Pension.Mathematics

FAP is good, but it isn't enough, it is also usually done after one has finished all prelims, which is a little late ("Put the cart before the horse") in my opinion.

I disagree with the assertion that it is "usually" done after the prelims. The students at my company are squeezing in a module here and a module there between prelims and while waiting for MLC results. They're mostly doing it concurrently with the prelims.

[Pension.Mathematics]

Originally Posted by Sredni Vashtar

If English is important for leadership positions, then maybe it shouldn't be the first exam.

good point, I never thought about that.

this made me re-think about my point of view, at this point, I am not even sure anymore if the prelims are badly designed.

[PeppermintPatty]

Originally Posted by LOLAND

There have to be some P&C that did the GI track...

Has anyone completed the gi track yet? It hasn't been very popular.

[campbell]

Originally Posted by PeppermintPatty

Has anyone completed the gi track yet? It hasn't been very popular.

Yes, but the ones I know who have completed it have gotten credits from other systems (aka, some CAS or other actuarial org exams outside of the SOA).

[MightySchoop]

Originally Posted by PeppermintPatty

Has anyone completed the gi track yet? It hasn't been very popular.

I think there's been a couple. Didn't G. Stolyarev finish it? I know he started down that path following his epic flip-out over the first sitting of new CAS 7 back in 2011.

[campbell]

I picked one of the GI exams here:
http://www.actuarial-lookup.com/exams/49

So it looks like at least 9 people who passed the SOA Ratemaking/Reserving exam have made it to FSA.

So at least 9.