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  #11  
Old 03-03-2011, 10:16 AM
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I still don't really understand why most actuaries don't have CE >> 30 hours a year. I would have expected the requirement to be nothing more than a minor red-tape inconvenience, but for many of my colleagues it's actually a mad dash for credits.
My issue was two-fold. One was making sure to get the organized credit (as JMO noted), but the other issue was me simply failing to record all the activities that can count for CE. I see that I easily exceed the 30 hrs/year, but since didn't record all the times I was reading articles, researching, etc. it was a lot harder. I'm learning from this and recording everything going forward, so I'll just be maintaining the "red-tape" issues now.

And a to you, MountainHawk - I wish the SOA had laid it out that way in the first place, since that is the intention. I still don't think it clearly states what you laid out, but I'm convinced that's what they mean.
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  #12  
Old 03-03-2011, 11:51 AM
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And a to you, MountainHawk - I wish the SOA had laid it out that way in the first place, since that is the intention. I still don't think it clearly states what you laid out, but I'm convinced that's what they mean.
The SOA put together a one-page table that laid it out pretty much the same as MH did above, but I cannot find it on the SOA website now.

It looked something like page 18 in this pdf:
http://www.soa.org/files/pdf/2010-ny...kessler-70.pdf
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  #13  
Old 03-03-2011, 12:16 PM
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The SOA put together a one-page table that laid it out pretty much the same as MH did above, but I cannot find it on the SOA website now.

It looked something like page 18 in this pdf:
http://www.soa.org/files/pdf/2010-ny...kessler-70.pdf
I think the issue is every time I see type of these slides, it always comes across as "you can", not "you must", and that's how most members will fulfill it... and that was probably the primary point of confusion, at least for me: it looks like most will choose to do this (but I can choose to do it another way), not that most must do this, and by doing it this way you've already covered everything.

I'm thinking it's because the attestation is coming from the SOA (and is SOA-driven), and the AAA doesn't seem prominent in the process, it's natural to think "How can I check off the SOA requirement that the SOA keeps reminding me of?" instead of "How can I fulfill all of my required actuarial continuing education obligations?".
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  #14  
Old 03-03-2011, 12:18 PM
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From the SOA point of view, you don't have to meet the AAA requirements. You only have to do that if you want to do actuarial work in the US.
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  #15  
Old 03-03-2011, 12:20 PM
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From the SOA point of view, you don't have to meet the AAA requirements. You only have to do that if you want to do actuarial work in the US.
Right. But, as I said above, the AAA requirements apply to a lot more than they used to, and apparently there are actuaries who still think the AAA Qualification standards are for PSAO's, even though there is no longer any such thing.

I don't know what to do about it, but let's not pretend the issue doesn't exist.

By the way, I just confirmed that the Actuarial Directory is now displaying compliance status for SOA members. I wonder if we can get some statistics on % compliance, and method of compliance by location (US/Can/Aussie/Other)??
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  #16  
Old 03-03-2011, 12:26 PM
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Right. But, as I said above, the AAA requirements apply to a lot more than they used to, and apparently there are actuaries who still think the AAA Qualification standards are for PSAO's, even though there is no longer any such thing.

I don't know what to do about it, but let's not pretend the issue doesn't exist.

By the way, I just confirmed that the Actuarial Directory is now displaying compliance status for SOA members. I wonder if we can get some statistics on % compliance, and method of compliance by location (US/Can/Aussie/Other)??
Can you search on the compliance field?
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  #17  
Old 03-03-2011, 12:28 PM
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Regarding the "what is an SAO?" question, I don't know what else the societies can do. Every meeting I've been to on the topic of professionalism and the CPD requirements has made it very clear that if you are doing actuarial work that you are responsible for, you are issuing a SAO. The people that want to pretend it only means PSAO, well you can lead an ass to water, but you can't make him drink.
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  #18  
Old 03-03-2011, 12:30 PM
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Can you search on the compliance field?
no
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And def agree w/ JMO.
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This. And everything else JMO wrote.
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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.
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  #19  
Old 03-03-2011, 12:32 PM
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no
Then I suspect they don't want us compiling statistics on it just yet.
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  #20  
Old 03-03-2011, 12:51 PM
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A question I still have unanswered is - what happens to someone when they attest that they have not met the standard?
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1. Pandering - we marketed ourselves as finding clever ways to give the public pension sponsors something for nothing
2. Ignored consequences - we found clever ways to allow politicians to ignore the true costs of benefit increases, like negative amortization of losses
3. Low standards of measurement - GASB had the most simple-minded of standards, and is now only going half-way to raise the standard.
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