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View Poll Results: Mediocre FCAS/FSA Vs. Hardworking ACAS/ASA?
Insurance, FCAS/FSA 11 23.91%
Insurance, ACAS/ASA 23 50.00%
Consulting, FCAS/FSA 8 17.39%
Consulting, ACAS/ASA 18 39.13%
Multiple Choice Poll. Voters: 46. You may not vote on this poll

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  #31  
Old 01-11-2019, 05:39 PM
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Poll options are confusing.
So, I voted for all of them. Like "42," but more punishing.
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  #32  
Old 01-11-2019, 06:27 PM
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Originally Posted by therealsylvos View Post
So you're absolute worst employee you ever had wasn't lazy? What made them so bad?



I love hearing stories about bad employees, because then I don't feel too bad about myself and my own foibles...
He had a charming mix of incompetence and indifference. He did bad work, both because he was careless and because he didn't bother to figure out what the numbers meant, and he also didn't care. He wasn't a super-fast or super-hard-working guy, either, but since I ended up having to re-do essentially all of his work, it was just as well that there wasn't much of it. Still, I wouldn't have described him as especially lazy. He was reasonably diligent about putting wrong numbers into spreadsheets.

I only had him for 3 months, due to how our rotation program worked at the time. Someone else had him long enough to fire him.
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  #33  
Old 01-11-2019, 06:41 PM
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He had a charming mix of incompetence and indifference. He did bad work, both because he was careless and because he didn't bother to figure out what the numbers meant, and he also didn't care. He wasn't a super-fast or super-hard-working guy, either, but since I ended up having to re-do essentially all of his work, it was just as well that there wasn't much of it. Still, I wouldn't have described him as especially lazy. He was reasonably diligent about putting wrong numbers into spreadsheets.

I only had him for 3 months, due to how our rotation program worked at the time. Someone else had him long enough to fire him.
3-month rotations seem like they would be very susceptible to wrong numbers in spreadsheets, Sir. Where I work it often takes at least 3 months for a rotatee to learn enough to be useful.
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  #34  
Old 01-12-2019, 11:52 PM
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I know some FCAS from the mult choice era who, to be frank, do not belong in the CAS. Of course, these are few and exist among a ton of great actuaries who would have succeeded in any era. Even in the short answer era, FCAS exams are a little tougher than pre-2014 (or thereabouts) as well, so there's sort of an (impossible) on-leveling that would ideally be done with CAS members and their letters. I would argue that people getting FCAS today are, on the whole, sharper than those stopping at ACAS. It's not just a question of who studies the hardest, as it may have been 20 years ago. In any case, there's still some overlap. Especially so if the ACAS excels at the discipline in question.

Does anyone stop at ASA these days? Are there 30-year-old ASAs being entrusted with actuarial leadership roles?
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  #35  
Old 01-13-2019, 07:59 AM
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3-month rotations seem like they would be very susceptible to wrong numbers in spreadsheets, Sir. Where I work it often takes at least 3 months for a rotatee to learn enough to be useful.
You might think so, but having supervised several people who did three month rotations or three month summer internships, this guy stands out. All of the other were competent, and a few were fabulous, and did useful, original stuff.

It's important to have a relatively small project that the intern can master and take ownership of. And once, I was assigned an intern despite having no such self-contained projects to give out, but I was able to get him reassigned. This guy had the same project that half a dozen others had. The project was fine for his time frame. He wasn't.
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  #36  
Old 01-13-2019, 08:04 AM
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I know some FCAS from the mult choice era who, to be frank, do not belong in the CAS. Of course, these are few and exist among a ton of great actuaries who would have succeeded in any era. Even in the short answer era, FCAS exams are a little tougher than pre-2014 (or thereabouts) as well, so there's sort of an (impossible) on-leveling that would ideally be done with CAS members and their letters. I would argue that people getting FCAS today are, on the whole, sharper than those stopping at ACAS. It's not just a question of who studies the hardest, as it may have been 20 years ago. In any case, there's still some overlap. Especially so if the ACAS excels at the discipline in question.

Does anyone stop at ASA these days? Are there 30-year-old ASAs being entrusted with actuarial leadership roles?
What multiple choice era are you thinking of? I took exams in the 90s, and have been involved with them in some capacity for most of the time since. The preliminary exams were mostly mc on paper before we moved them to Prometric, (or to VEE) but the upper exams were always mostly written answer. Yeah, you might have had 10-20 points on a 100 point exam that were multiple choice, but there were plenty of long-answer (show your work) questions, too.
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  #37  
Old 01-13-2019, 12:06 PM
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Imo the two years where a whole bunch of people got pissed off w.r.t. the exams were 2011 and 2018, with 2011 being the angrier year.
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  #38  
Old 01-13-2019, 12:24 PM
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Imo the two years where a whole bunch of people got pissed off w.r.t. the exams were 2011 and 2018, with 2011 being the angrier year.
Ahhhh, you're too young to remember the OG "candidates were unprepared and distracted by elections" letter in 2008.

I'm sure there were other years before that, too.
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  #39  
Old 01-13-2019, 01:29 PM
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In consulting, they can often charge more for FCAS/FSA (as a proportion of the cost), and also its more important for a consulting company that their actuaries bill hours (compared to insurance companies), and hence the distinction in the poll.
that's not exactly how it works, in my experience.

yes the FCAS will have a higher billable rate. but that doesn't mean you're necessarily charging more for a project that an FCAS does. it usually means the FCAS is spending fewer hours on the work than the ACAS - maybe because they're faster but typically because they have other responsibilities like marketing or management whereas the lower level person spends a larger portion of their time on project work.

where i have worked, an ACAS and an FCAS in the same job role have the same billable rate, it's just that more of the people in the senior roles have FCAS.
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  #40  
Old 01-13-2019, 01:32 PM
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Ahhhh, you're too young to remember the OG "candidates were unprepared and distracted by elections" letter in 2008.

I'm sure there were other years before that, too.
?
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