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  #31  
Old 05-17-2013, 06:35 AM
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So the FSA GI Fellow will be less comprehensively educated/tested in P&C compared to the CAS GI Fellow - a lesser GI credential? This is my objection to SOA doing it this way. Why would P&C companies hire FSA GI Fellows (or support that track) when CAS Fellows have a broader, deeper knowledge base? I guess we have to see what is in the GI advanced exam but I don't think it will cover CAS 6, 7 and 8.
By that line of logic, if the SOA covered the same material as the CAS exams and added an additional exam on top, then why would anyone hire an FCAS? Or if I design a new system and make it 15 exams and cover even more info than either then I have now created a system where all others are inferior and FCAS and FSA should tremble when one of my credentialed actuaries enters the room.

The reason someone would hire an FSA over an FCAS is because they have better work experience. The reason someone would hire an FCAS over an FSA is because they have better work experience. See what I'm getting at? Work experience should trump all and the exam system should be used to easily verify a minimum acceptable education. Perhaps the CAS exams 7, 8, and 9 are not necessary for the minimum education and perhaps actuaries would be better served with a shorter travel time so they can contribute 100% to their employer at an earlier stage.
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  #32  
Old 05-17-2013, 07:10 AM
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Yeah, they've used that paper for other exams before
Who is "they"?

I know that paper was used on joint exams. Has it been used on and SOA exam before?
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  #33  
Old 05-17-2013, 08:14 AM
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The CAT modeling book is the same as the one used on CAS exam 8, and they even pull (almost) the same sections.

It also looks like this exam is a little less reserve heavy than exam 5. Its hard to tell, becuase I dont have access to the text they are using.
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  #34  
Old 05-17-2013, 08:31 AM
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The CAT modeling book is the same as the one used on CAS exam 8, and they even pull (almost) the same sections.
The same book where the authors couldn't even correctly transcribe the CAS Ratemaking Statement of Principles before explaining how CAT models can be used to derive actuarially sound rates? That makes me :ctm:.
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  #35  
Old 05-17-2013, 09:10 AM
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Is that a bad thing if the SOA still adequately tests their candidates?
Yes. Consider the law of supply and demand and its implications on actuarial salaries.
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  #36  
Old 05-17-2013, 09:23 AM
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The same book where the authors couldn't even correctly transcribe the CAS Ratemaking Statement of Principles before explaining how CAT models can be used to derive actuarially sound rates? That makes me :ctm:.
Isn't this also the same book where they violate the laws of probability in defining the Exceedance Probability curve in their example?
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  #37  
Old 05-17-2013, 09:51 AM
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Who is "they"?

I know that paper was used on joint exams. Has it been used on and SOA exam before?
Fine, it's been used on joint exams before, of which the SOA was one of the joint parties.

I can't remember, but it may have been used on the old Course 5. Pretty sure we had some CAS materials for that one. That's been a while, though.
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Old 05-17-2013, 09:53 AM
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As for the CAT modeling book, let me pull straight from the published syllabus:

Quote:
Catastrophe Modeling: A New Approach to Managing Risk, Grossi, P.; and Kunreuther, H.
o Chapters 1-7. (Section 2.4.1 is incorrect and will not be tested; however, exceedance probability curves as discussed elsewhere in the book may be tested.)
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  #39  
Old 05-17-2013, 10:12 AM
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Can't wait for the flood of inexperienced ASAs to begin applying for P&C jobs. Salaries will have only one way to go, down, and they still won't get jobs ahead of their CAS counterparts.

SOA is a comical organization, at least the leadership at the top.
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  #40  
Old 05-17-2013, 10:24 AM
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Can't wait for the flood of inexperienced ASAs to begin applying for P&C jobs.
They are not doing it now, or they weren't doing it before SOA-GI announcement?
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SOA is a comical commercial (non-profit) organization, at least the leadership at the top.
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