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  #91  
Old 01-05-2019, 08:18 AM
almost_there almost_there is offline
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IFoA have gone from saying 3-6 years, to saying 6-7 years following ASA intervention, to now completely removing qual times from that page.
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  #92  
Old 01-05-2019, 09:00 AM
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IFoA have gone from saying 3-6 years, to saying 6-7 years following ASA intervention, to now completely removing qual times from that page.
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  #93  
Old 01-05-2019, 09:12 AM
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PeppermintPatty PeppermintPatty is offline
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I am something of a travel-time geek, so here's more about CAS travel time than you wanted to know:

This is the last publicly available travel time report of the CAS

https://www.casact.org/admissions/re...travel2010.pdf

After the SoA turned on the CAS, the CAS decided it had to hide stuff, so they stopped publishing the information. They may have since stopped producing it. But they were monitoring travel time as recently as 2016, and here's what they published

https://www.casact.org/newsletter/in...iewart&id=6715
(which links to an "infographic", which has all the embarrassing bits and none of the geeky details.)

There's also some guy who collects pass info and does a lot of this on his own, publicly available, but I don't have the link handy right now.

"Travel time" can be calculated lots of different ways. For years the CAS just looked at how many years it took for recent cohorts of new fellows to have gotten through the exams. At the time, the number of people sitting for exams was growing, so this was a rather biased number from a candidate's perspective (see "mix shift" for more detail) but it had useful information from the organization's perspective, such as how old the typical new fella was, and how much experience they had.

Without knowing whether you are discussing travel time for a cohort, or travel time in a calendar year, it's hard to interpret the numbers.

I am also curious why you published that, and what you hope the rest of us to get form it.
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  #94  
Old 01-05-2019, 09:21 AM
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Originally Posted by PeppermintPatty View Post
I am something of a travel-time geek, so here's more about CAS travel time than you wanted to know:

This is the last publicly available travel time report of the CAS

https://www.casact.org/admissions/re...travel2010.pdf

After the SoA turned on the CAS, the CAS decided it had to hide stuff, so they stopped publishing the information. They may have since stopped producing it. But they were monitoring travel time as recently as 2016, and here's what they published

https://www.casact.org/newsletter/in...iewart&id=6715
(which links to an "infographic", which has all the embarrassing bits and none of the geeky details.)

There's also some guy who collects pass info and does a lot of this on his own, publicly available, but I don't have the link handy right now.

"Travel time" can be calculated lots of different ways. For years the CAS just looked at how many years it took for recent cohorts of new fellows to have gotten through the exams. At the time, the number of people sitting for exams was growing, so this was a rather biased number from a candidate's perspective (see "mix shift" for more detail) but it had useful information from the organization's perspective, such as how old the typical new fella was, and how much experience they had.

Without knowing whether you are discussing travel time for a cohort, or travel time in a calendar year, it's hard to interpret the numbers.

I am also curious why you published that, and what you hope the rest of us to get form it.
To your point, Sir, there are several reports at this website: http://www.actuarial-lookup.com

The travel time measures all have the same bias that you described: they're based on the time it took recent fellows to finish exams; they do not adjust for truncated and censored data to give a great measure of how long a new candidate should expect the process to take.
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  #95  
Old 01-05-2019, 10:11 AM
almost_there almost_there is offline
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It's a hard sell for actuarial qualification bodies to be honest about drop out rates, typical times to qualification and so on. This does not excuse lying to young people.
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