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Old 04-27-2018, 04:57 PM
Pension.Mathematics Pension.Mathematics is offline
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Default The average travel time to earn the FSA is 8.2 years

I am glad they made this public:

Quote:
Originally Posted by https://www.soa.org/about/2017-year-review.pdf
The average travel time from first exam attempt to last exam passed to earn the FSA is 8.2 years.
...
In 2017, the SOA administered more than 55,000 actuarial examinations to more than 38,000 candidates.
That's crazy, 8.2 is the average of all people that actually make it, it's like CTE 10 (assuming only 10% of people make it).

Also, based on the wording, 8.2 could be from first exam to last exam, not from first exam to FAC.

this makes sense that they limit the average to exams, because people can technically pass module 1 of FAP before their first actuarial exam.

Last edited by Pension.Mathematics; 04-27-2018 at 05:06 PM..
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Old 04-27-2018, 05:32 PM
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Interesting that they start it at the first exam attempt. If people study for 4 months on average for these things, that implies a travel time of 8.5 years rather than 8.2, because the time spent studying for the first exam should probably be counted as part of the travel time (granted, the data isnít as readily available, but I think you could make an educated guess here).
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Old 04-27-2018, 05:40 PM
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Quote:
Originally Posted by nonactuarialactuary View Post
Interesting that they start it at the first exam attempt. If people study for 4 months on average for these things, that implies a travel time of 8.5 years rather than 8.2, because the time spent studying for the first exam should probably be counted as part of the travel time (granted, the data isnít as readily available, but I think you could make an educated guess here).
I'm sure they went with what was more easily measured, but you should certainly take into account the amount of time that is spent studying for the first exam in terms of total travel time.

It's hard to make any meaningful measure though. I've heard tales of people in China holing themselves away and not working at a job and doing literally nothing but passing exams for a period of time... which results in a relatively short travel time, especially if they're taking and passing multiple exams each sitting - something that most of us never attempt.

Others, meanwhile, go slowly while in college, take time off for work or personal reasons (skip a sitting during a labor-intensive acquisition, to get married, to have a kid, etc.)

There's just no good way to measure that takes all of the variables into account.
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Old 04-27-2018, 06:50 PM
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There's just no good way to measure that takes all of the variables into account.
This!

To be honest, I like their "first exam to last exam" measure!
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Old 04-27-2018, 06:52 PM
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Originally Posted by twig93 View Post
I've heard tales of people in China holing themselves away and not working at a job and doing literally nothing but passing exams for a period of time... which results in a relatively short travel time, especially if they're taking and passing multiple exams each sitting - something that most of us never attempt.
those people are likely not considered here because:

Quote:
Originally Posted by https://www.soa.org/about/members-by-country/
FSA count by country:
China: 488
edit: well, actually more than I thought:

Quote:
Originally Posted by https://www.soa.org/about/members-by-country/
FSA count by country:
China: 488
Hong Kong: 886
Taiwan: 118
Singapore (technically not part of China, but 74.3% Chinese): 153

Last edited by Pension.Mathematics; 04-27-2018 at 06:55 PM..
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Old 04-27-2018, 06:54 PM
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For reference, I'm on pace for 7.5 years from first exam attempt to FSA. I took a year off between C and FAP modules.
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Old 04-27-2018, 07:13 PM
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8.2?? Roy Ju will probably laugh at it
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Old 04-28-2018, 11:19 AM
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8.2?? Roy Ju will probably laugh at it
that's how average works.

the fastest person is likely way above average.

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Old 04-28-2018, 05:00 PM
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Roy Ju can go to hell.
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Old 04-28-2018, 05:56 PM
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Roy Ju can go to hell.
That's harsh.
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