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  #31  
Old 03-12-2002, 09:27 AM
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Are you really saying that someone who doesn't understand things like interest theory, probability and statistics, and actuarial models could do a good job as an actuary?
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  #32  
Old 03-12-2002, 11:59 AM
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No, I'm not. Someone could have that knowledge and not take exams, or not do well on exams.
Also, it depends on the field. Interest theory hasn't done me much good, except for computing my car and mortgage payments.

The exams are more like an elimination process. It's a way of proving that actuaries are smart and are quick studies. Without the exams, one would have to prove one's abilities.
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  #33  
Old 03-13-2002, 05:58 PM
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Integrating exams with college courses is a huge mistake. It will significantly water down the profession, far more than removing calculus will. We (my firm) get resumes all the time from actuarial science majors who never make any progress through the exams.

Each college, each professor for that matter grades differently. The standard will be totally inconsistent. Allowing any college course to take the place of an SOA exam will flood our profession with mediocrity.
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  #34  
Old 03-13-2002, 06:11 PM
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Quote:
On 2002-03-13 17:58, donkey wrote:
Integrating exams with college courses is a huge mistake. It will significantly water down the profession, far more than removing calculus will. We (my firm) get resumes all the time from actuarial science majors who never make any progress through the exams.

Each college, each professor for that matter grades differently. The standard will be totally inconsistent. Allowing any college course to take the place of an SOA exam will flood our profession with mediocrity.
You're probably right, if you're referring to the early exams. I think it will lead to more people getting the early exams and then dropping out when they get the big shock that the later exams aren't as easy as college courses.
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  #35  
Old 03-13-2002, 06:16 PM
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42, that doesn't matter. Only the travel time matters, and only those who make it all the way through are counted in travel time. Dropouts are no concern to the SOA.
I'm going to move that average up a whole 0.1 of a year all by myself. One of these days.
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  #36  
Old 03-14-2002, 10:24 AM
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DTNF, can I buy a vowel? I don't understand what point you're trying to make. Why do you say that travel time is all that matters? And to whom? Is this related to your earlier statement about watering down the profession, or are you trying to make a separate point? Help me to understand what you're saying.
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  #37  
Old 03-14-2002, 11:15 AM
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In my 20 years in the business, I have found Statistics way more useful than Calculus. In fact, anecdotally, some of the dumbest things I have seen done and biggest opportunities I have seen lost seemingly had a common thread. That thread was one actuary or another with a strong math background who was intent on proving things and had difficulty living with gray areas.
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  #38  
Old 03-14-2002, 12:18 PM
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That's my diatribe on the SOA's insistence on lowering travel time to influence more flexible-option-type folks to take up this profession over others.
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  #39  
Old 03-14-2002, 01:37 PM
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Calculus is the easy part. If they exclude it, I hope it is because it is considered too basic to include, for the same reason you wouldn't include a question like "x + 3 = 5, solve for x".

If they are planning to remove it because it might scare some people away into other fields, that would be a sad reason. If Calculus scares you away, I would seriously doubt your ability to survive the other exams.

The difficulty of becoming an actuary is actually one of the things that attracts me to the profession. I want to get away from being immersed in the utter mediocrity that is now the rule in software development. Anybody can call themselves a programmer and get hired as one without any technical degree or certification process to back it up. The result is the crappy software that we all have to use in one form or another. What would happen if anyone could be an actuary regardless of education or certficiation?
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  #40  
Old 08-22-2002, 03:57 AM
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Quote:
Originally Posted by techguy
Calculus is the easy part. If they exclude it, I hope it is because it is considered too basic to include, for the same reason you wouldn't include a question like "x + 3 = 5, solve for x".

If they are planning to remove it because it might scare some people away into other fields, that would be a sad reason. If Calculus scares you away, I would seriously doubt your ability to survive the other exams.

The difficulty of becoming an actuary is actually one of the things that attracts me to the profession. I want to get away from being immersed in the utter mediocrity that is now the rule in software development. Anybody can call themselves a programmer and get hired as one without any technical degree or certification process to back it up. The result is the crappy software that we all have to use in one form or another. What would happen if anyone could be an actuary regardless of education or certficiation?
Techguy, I'm 100% with you on this one, you should send emails to SOA concerning this

eq2005@soa.org


I actually don't mind QRA as certain companies will only need a QRA to do lower level of actuarial works (it also gives a candidate a reward for getting that far on exams), to be considered a full actuary, FSA is still required. However, granting exam credits from college courses will be a big mistake, as you said.

As far as those wishing calculus to be droped? Common! It'd be like pursuing M.D. and wishing the medical schools to drop liberal arts requirement at undergrad, how would you tackle exams 3 and 4 w/o knowing Calculus, it's more than just doing derivatives and integration. Even the probability exam requires quite a bit of cal, this is something to think about.
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