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  #41  
Old 05-17-2013, 10:31 AM
Elsaball Elsaball is offline
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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.
You keep assuming the two credentials carry the same value when that point is up to debate. And, while we don't know enough about the FSA-GI path to completely discount it, the burden is on the SOA to prove its worth (a credential isn't valuable until that value is disproven). Until then, FSA-GI will be adversely selected against by candidates, and employers will recognize this. After all, who would want to pursue the path that has not yet proven its worth in the market, and who would want to hire the student that has pursued this path?
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  #42  
Old 05-17-2013, 10:33 AM
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They are not doing it now, or they weren't doing it before SOA-GI announcement?
neither from what I see. but they surely will begin to apply after taking a much easier and less credible path to a credential.
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  #43  
Old 05-17-2013, 10:55 AM
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Mary Pat, from first glance at the 'refined' SOA tracks, I think CFIC and CFIA appear to be more coherent and up to date on what is happening in quant modelling. The SDM looks to be all over the place. There is some fairly dodgy new (and old!) reading material on there for an advanced exam, IMO.
I haven't dug through all the syllabuses as of yet. Will have to get back on that.

As for questionable readings, generally there has been a few I've seen that made me think: "Is the author on the exam committee? Or a friend of a member?"
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  #44  
Old 05-17-2013, 11:04 AM
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You keep assuming the two credentials carry the same value when that point is up to debate. And, while we don't know enough about the FSA-GI path to completely discount it, the burden is on the SOA to prove its worth (a credential isn't valuable until that value is disproven). Until then, FSA-GI will be adversely selected against by candidates, and employers will recognize this. After all, who would want to pursue the path that has not yet proven its worth in the market, and who would want to hire the student that has pursued this path?
Full time student (USA/Canada) could take advantage of this. Overseas, wonder how many Taiwanese/South Korean will take this exam.
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  #45  
Old 05-17-2013, 11:16 AM
Elsaball Elsaball is offline
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Full time student (USA/Canada) could take advantage of this. Overseas, wonder how many Taiwanese/South Korean will take this exam.
But why would they take a credential that hasn't been proven and may be viewed negatively by US employers (unless they do not intend to pursue US opportunities)?
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  #46  
Old 05-17-2013, 11:22 AM
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Betting on CAS would be swallowed by SOA. If the NAIC and AAA recognize SOA-GI, then CAS is dead.
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  #47  
Old 05-17-2013, 11:25 AM
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Betting on CAS would be swallowed by SOA. If the NAIC and AAA recognize SOA-GI, then CAS is dead.
I'm betting this way as well.
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  #48  
Old 05-17-2013, 11:43 AM
Elsaball Elsaball is offline
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Betting on CAS would be swallowed by SOA. If the NAIC and AAA recognize SOA-GI, then CAS is dead.
It's their choice to make that bet, but they should understand the consequences they might encounter while looking for jobs. And I agree with your last point. ultimately, it will be the employers that decide which path persists. NAIC recognition will not guarantee that employers will support the FSA track.
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  #49  
Old 05-17-2013, 12:19 PM
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Is that a bad thing if the SOA still adequately tests their candidates?
The CAS already adequately tests their candidates.

It is still dizzying to me that the SoA has made this a priority when there are so many other efforts that could be made.

It's a pointless battle with no real benefit to most actuaries.
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  #50  
Old 05-17-2013, 01:06 PM
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Full time student (USA/Canada) could take advantage of this. Overseas, wonder how many Taiwanese/South Korean will take this exam.
I have to believe that number will be low, at least among students aware of the existence of the CAS, for at least the next year or two.

While the SOA grants exam waivers for CAS Part 5, the rational decision is to sit for Part 5, which will get you both SOA and CAS credit. After the transition period lapses....we'll see.

The exception to the above is that a student might opt to sit for both the CAS and SOA versions of the exam in a single sitting. Such a student might get two chances to get SOA credit, and (one chance for credit from the CAS + one chance to gamble that the CAS ends up recognizing the SOA exam somehow).

The more interesting metrics to watch will be the number of candidates for ATGI, or the number of students going through the AST module. Even there, it will take some time before FSA-GI candidates would reach those points if there is interest in the new SOA track. I don't think you'd be able to draw conclusions for a couple of years.

I still think the most interesting potential metric will be how many "traitors' memberships" or exam waivers are granted at the next SOA board meeting...if they even report the number in the minutes.
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