Actuarial Outpost
 
Go Back   Actuarial Outpost > Actuarial Discussion Forum > General Actuarial
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions


Not looking for a job? Tell us about your ideal job,
and we'll only contact you when it opens up.
https://www.dwsimpson.com/register


General Actuarial Non-Specific Actuarial Topics - Before posting a thread, please browse over our other sections to see if there is a better fit, such as Careers - Employment, Actuarial Science Universities Forum or any of our other 100+ forums.

Reply
 
Thread Tools Search this Thread Display Modes
  #31  
Old 01-24-2018, 05:42 PM
trueblade's Avatar
trueblade trueblade is offline
Member
CAS
 
Join Date: Jul 2012
Location: Castlevania
Studying for Freedom
Posts: 684
Default

Quote:
Originally Posted by ElDucky View Post
You could take # new fellows in a year and divide by test takers and get a fair approximation. Might need to go back in time on the test takers part to account for growth in interest in the actuarial field.

And need to adjust for those shifty Canadians who become FSA without ever taking exam 1.
Canadians can get exam credit for 2/FM, 3/MLC, 4/C, but not 1/P and this is only recognized by CIA & CAS, not SOA. As far as I know, most students are still doing these exams regardless. With the CAS changing its exam syllabus this year, I'm not sure if the exam exemption still applies. Also considering the difficulty of Upper level CAS exams, preliminary exams are basically nothing. Personally the time I spent to prepare and pass CAS exam 5 = total time spent to prepare all 5 preliminary exams.
Reply With Quote
  #32  
Old 01-24-2018, 07:05 PM
exponentialpi's Avatar
exponentialpi exponentialpi is online now
Member
SOA AAA
 
Join Date: Nov 2008
Location: Po
Studying for ACA
College: Graduate of hard knocks
Favorite beer: Cold Smoke
Posts: 1,430
Default

Quote:
Originally Posted by ssop19 View Post
I'm pretty sure the SOA actually communicated this stat during the FAC that I attended. If I remember correctly, they indicated that only 8% of the people who ever sit for an actuarial exam make it all the way through to Fellowship.

You can count me as one of the people that found that to be a very interesting stat.
I recall something like under 10% from my FAC. I found it interesting as well.
Reply With Quote
  #33  
Old 01-25-2018, 06:01 PM
ssop19 ssop19 is offline
Member
 
Join Date: Aug 2010
College: None
Posts: 32
Default

Quote:
Originally Posted by JMO View Post
Was that 8% to FSA? Or did they also count as "success" those who became FCAS?

And I would be far more interested in what time frame they looked at than in the number they came up with..
I'm guessing it was just FSA. Not sure what time frame they looked at.

I think they also quoted the average time to FSA at around 7 years. I may be wrong though - all I know is it that the average was a lot less time than it took me so I tuned out.
Reply With Quote
  #34  
Old 01-26-2018, 04:02 PM
ReturnStudent ReturnStudent is offline
Member
CAS
 
Join Date: Dec 2015
Location: Chicago
Studying for 5
College: UNL Alumni
Posts: 181
Default

Quote:
Originally Posted by CuriousGeorge View Post
. It's sort of like saying that only 1% of people who take Biology 101 ever get a job as a biologist, so that is obviously an even harder career.
Not exactly the same though - While there are countless paths of careers start from bio 101, only 1 path that starts from taking the first SOA/CAS exams.
Many students take bio 101 for millions (exaggeration here) of reasons than becoming a biologist. I took it to fill out non-major requirement.
In contrast to that, only those who have a plan to become an actuary take the first exam.
Reply With Quote
  #35  
Old 01-26-2018, 04:16 PM
ReturnStudent ReturnStudent is offline
Member
CAS
 
Join Date: Dec 2015
Location: Chicago
Studying for 5
College: UNL Alumni
Posts: 181
Default

Is there any info out there on which preliminary exam do most actuarial students who quit pursuing the designation stop before they reach the ASA/ACAS?
Reply With Quote
  #36  
Old 01-26-2018, 04:27 PM
JMO's Avatar
JMO JMO is offline
Carol Marler
Non-Actuary
 
Join Date: Sep 2001
Location: Back home again in Indiana
Studying for Nothing actuarial.
Posts: 37,428
Default

Quote:
Originally Posted by ReturnStudent View Post
Is there any info out there on which preliminary exam do most actuarial students who quit pursuing the designation stop before they reach the ASA/ACAS?
This is an even harder question to answer, because the exams keep changing. Back when I was a student, a lot of folks gave up with Part 4, which was Life Contingencies using a textbook of the same name by Jordan.

And after the prelims, there is a lot more variation in the fellowship exams, because of the SOA/CAS split and the different SOA tracks.
__________________
Carol Marler, "Just My Opinion"

Pluto is no longer a planet and I am no longer an actuary. Please take my opinions as non-actuarial.


My latest favorite quotes, updated Apr 5, 2018.

Spoiler:
I should keep these four permanently.
Quote:
Originally Posted by rekrap View Post
JMO is right
Quote:
Originally Posted by campbell View Post
I agree with JMO.
Quote:
Originally Posted by Westley View Post
And def agree w/ JMO.
Quote:
Originally Posted by MG View Post
This. And everything else JMO wrote.
And this all purpose permanent quote:
Quote:
Originally Posted by Dr T Non-Fan View Post
Yup, it is always someone else's fault.
MORE:
All purpose response for careers forum:
Quote:
Originally Posted by DoctorNo View Post
Depends upon the employer and the situation.
Quote:
Originally Posted by Sredni Vashtar View Post
I feel like ERM is 90% buzzwords, and that the underlying agenda is to make sure at least one of your Corporate Officers is not dumb.
Reply With Quote
  #37  
Old 01-26-2018, 04:30 PM
JMO's Avatar
JMO JMO is offline
Carol Marler
Non-Actuary
 
Join Date: Sep 2001
Location: Back home again in Indiana
Studying for Nothing actuarial.
Posts: 37,428
Default

By the way, instead of calculating the time from earliest exam to fellowship, those who want a probability number might give more consideration to passing percentage. Sure it varies by exam and by date the exam is given, but the info is far more readily available. And a typical number could easily be used to do a compound probability. Say there are N exams, and the probability of passing each one is P. So a first approximation is






























left as an exercise for the student.
__________________
Carol Marler, "Just My Opinion"

Pluto is no longer a planet and I am no longer an actuary. Please take my opinions as non-actuarial.


My latest favorite quotes, updated Apr 5, 2018.

Spoiler:
I should keep these four permanently.
Quote:
Originally Posted by rekrap View Post
JMO is right
Quote:
Originally Posted by campbell View Post
I agree with JMO.
Quote:
Originally Posted by Westley View Post
And def agree w/ JMO.
Quote:
Originally Posted by MG View Post
This. And everything else JMO wrote.
And this all purpose permanent quote:
Quote:
Originally Posted by Dr T Non-Fan View Post
Yup, it is always someone else's fault.
MORE:
All purpose response for careers forum:
Quote:
Originally Posted by DoctorNo View Post
Depends upon the employer and the situation.
Quote:
Originally Posted by Sredni Vashtar View Post
I feel like ERM is 90% buzzwords, and that the underlying agenda is to make sure at least one of your Corporate Officers is not dumb.
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 01:23 PM.


Powered by vBulletin®
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 0.30036 seconds with 11 queries