Actuarial Outpost
 
Go Back   Actuarial Outpost > Actuarial Discussion Forum > General Actuarial
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions

DW Simpson
Actuarial Jobs

Visit our site for the most up to date jobs for actuaries.

Actuarial Salary Surveys
Property & Casualty, Health, Life, Pension and Non-Tradtional Jobs.

Actuarial Meeting Schedule
Browse this year's meetings and which recruiters will attend.

Contact DW Simpson
Have a question?
Let's talk.
You'll be glad you did.


General Actuarial Non-Specific Actuarial Topics - Before posting a thread, please browse over our other sections to see if there is a better fit, such as Careers - Employment, Actuarial Science Universities Forum or any of our other 100+ forums.

Reply
 
Thread Tools Search this Thread Display Modes
  #51  
Old 05-17-2013, 01:13 PM
Maphisto's Sidekick's Avatar
Maphisto's Sidekick Maphisto's Sidekick is offline
Member
CAS
 
Join Date: Nov 2001
Location: South Park Genetics Lab
College: Ardnox
Favorite beer: The kind with alcohol
Posts: 2,382
Default

Quote:
Originally Posted by secondlife View Post
Betting on CAS would be swallowed by SOA. If the NAIC and AAA recognize SOA-GI, then CAS is dead.
Even if the NAIC and the AAA recognize SOA-GI, it's unlikely the CAS will actually die. Instead, I think you see the start of a future in which the CAS eventually merges with the SOA, perhaps living on as a special interest group within/alongside the Society.

The process could take a decade or two, depending on how long before (or even "if") a critical mass of students start pursuing the SOA-GI track. Alternatively, perhaps the CAS will simply recognize the SOA-GI exams and modules, if they prove sufficiently rigorous.

Time will tell.

(Re-disclosure: I'm a career ACAS. I'm intending to go for FSA-GI. For me, the first step on that path is a CAS exam.)
Reply With Quote
  #52  
Old 05-17-2013, 01:50 PM
Colymbosathon ecplecticos's Avatar
Colymbosathon ecplecticos Colymbosathon ecplecticos is offline
Member
 
Join Date: Dec 2003
Posts: 5,877
Default

Quote:
Originally Posted by Maphisto's Sidekick View Post
(Re-disclosure: I'm a career ACAS. I'm intending to go for FSA-GI. For me, the first step on that is a CAS exam.)
I am all in favor of you continuing your education and in no way want to discourage that. But if the reason that you are doing this is not to improve your skill set, but rather to get another credential, I worry that you might be disappointed in the end game.

Suppose that five years from now you have completed the FSA-GI, and the CAS decides to grant ACAS to anyone with an FSA-GI. Won't you feel that your new credential maybe isn't so valuable?

I can only imagine how the real double fellows feel about what has already happened.

But like I said, if you are doing it to improve your skill set, then I am 100% behind you.
__________________
"What do you mean I don't have the prerequisites for this class? I've failed it twice before!"


"I think that probably clarifies things pretty good by itself."
Reply With Quote
  #53  
Old 05-17-2013, 01:53 PM
Shaft's Avatar
Shaft Shaft is offline
Member
CAS SOA AAA
 
Join Date: Dec 2001
Posts: 1,608
Default

..and say you wanted to change jobs and I were interviewing you for something in P&C, my 1st question on discovering you - as a career ACAS - want to do SOA GI is "why are you not doing FCAS?"
Reply With Quote
  #54  
Old 05-17-2013, 02:03 PM
secondlife secondlife is offline
Member
Non-Actuary
 
Join Date: Oct 2011
Posts: 7,166
Default

Quote:
Originally Posted by Maphisto's Sidekick View Post
....deleted....
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.
Let us look at FCAS who are going for (free) FSA. Who are they? People who like letters only? People who volunteered in the E&E side of CAS, but got frustrated with "senior die hard no change needed for E&E system" volunteers; or the new FCAS who think CAS exam system need changes etc .. Are they traitors or saviors?
Reply With Quote
  #55  
Old 05-17-2013, 02:10 PM
Gecko Gecko is offline
Member
CAS
 
Join Date: Apr 2005
Posts: 164
Default

Quote:
Originally Posted by secondlife View Post
Let us look at FCAS who are going for (free) FSA. Who are they? People who like letters only? People who volunteered in the E&E side of CAS, but got frustrated with "senior die hard no change needed for E&E system" volunteers; or the new FCAS who think CAS exam system need changes etc .. Are they traitors or saviors?
None of the above. They are risk-averse actuaries who want to guard against the possibilty that the SOA will kill the CAS, and make sure they get the SOA credential while it is cheap (at least in effort, if not in $$$$). They are also young. Older actuaries know that the FCAS will be enough of credential for the rest of their professional career. (Unless they want to practice in another area, of course.)

They may also be casualty actuaries who practice in places where most of the actuaries are FSA, and they think the FSA will be easier for their customers to understand.

No one is going to pay a steep annuity to the SOA just as a protest against exams. The SOA will let you volunteer on their E&E system without buying the credential.

Last edited by Gecko; 05-17-2013 at 02:13 PM..
Reply With Quote
  #56  
Old 05-17-2013, 02:13 PM
Malcolm's Avatar
Malcolm Malcolm is offline
Member
CAS AAA
 
Join Date: Apr 2007
Location: the Middle
Posts: 4,342
Default

Quote:
Originally Posted by secondlife View Post
Let us look at FCAS who are going for (free) FSA. Who are they? People who like letters only? People who volunteered in the E&E side of CAS, but got frustrated with "senior die hard no change needed for E&E system" volunteers; or the new FCAS who think CAS exam system need changes etc .. Are they traitors or saviors?
Quote:
Originally Posted by Gecko View Post
None of the above. They are risk-averse actuaries who want to guard against the possibilty that the SOA will kill the CAS, and make sure they get the SOA credential while it is cheap (at least in effort, if not in $$$$).
They might be people who don't fully understand when to exercise American call options.
__________________
Life is unfair
Reply With Quote
  #57  
Old 05-17-2013, 02:18 PM
Shaft's Avatar
Shaft Shaft is offline
Member
CAS SOA AAA
 
Join Date: Dec 2001
Posts: 1,608
Default

Quote:
Originally Posted by Malcolm View Post
They might be people who don't fully understand when to exercise American call options.
..............
Reply With Quote
  #58  
Old 05-17-2013, 02:28 PM
secondlife secondlife is offline
Member
Non-Actuary
 
Join Date: Oct 2011
Posts: 7,166
Default

Quote:
Originally Posted by Malcolm View Post
They might be people who don't fully understand when to exercise American call options.
.
Quote:
the people who teach in Wharton don't understand the asymmetry of options.
Reply With Quote
  #59  
Old 05-17-2013, 02:42 PM
Elsaball Elsaball is offline
Member
CAS
 
Join Date: Jun 2010
Studying for nothing
Posts: 1,752
Default

CAS and SOA leadership posted a memo (with no specific information) on their sites today. The good news it's the first memo since their relationships deteriorated that they posted identical messages.

CAS Link
Reply With Quote
  #60  
Old 05-17-2013, 02:43 PM
JMO's Avatar
JMO JMO is offline
Carol Marler
Non-Actuary
 
Join Date: Sep 2001
Location: Back home again in Indiana
Studying for Nothing actuarial.
Posts: 37,421
Default

Quote:
Originally Posted by Elsaball View Post
CAS and SOA leadership posted a memo (with no specific information) on their sites today. The good news it's the first memo since their relationships deteriorated that they posted identical messages.

CAS Link


Of course the language of the letter is negotiations-still-in-progress, so it doesn't actually say anything, but it does confirm that they are speaking to one another now.
__________________
Carol Marler, "Just My Opinion"

Pluto is no longer a planet and I am no longer an actuary. Please take my opinions as non-actuarial.


My latest favorite quotes, updated Apr 5, 2018.

Spoiler:
I should keep these four permanently.
Quote:
Originally Posted by rekrap View Post
JMO is right
Quote:
Originally Posted by campbell View Post
I agree with JMO.
Quote:
Originally Posted by Westley View Post
And def agree w/ JMO.
Quote:
Originally Posted by MG View Post
This. And everything else JMO wrote.
And this all purpose permanent quote:
Quote:
Originally Posted by Dr T Non-Fan View Post
Yup, it is always someone else's fault.
MORE:
All purpose response for careers forum:
Quote:
Originally Posted by DoctorNo View Post
Depends upon the employer and the situation.
Quote:
Originally Posted by Sredni Vashtar View Post
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.
Reply With Quote
Reply

Tags
predictive analytics

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 04:29 AM.


Powered by vBulletin®
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 0.47052 seconds with 10 queries