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  #101  
Old 07-30-2018, 12:03 PM
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campbell campbell is offline
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Originally Posted by Abnormal View Post
But there's another problem - what happens if a program is accredited by the CIA and, for whatever reason, that accreditation is withdrawn at some later date? What happens to the students who are already enrolled there - do they just get told in the middle of a term that "sorry guys but your course work no longer qualifies for credit"?
This happened with the Dublin City University, btw, about 10 years ago:

http://www.actuarialoutpost.com/actu...d.php?t=144364

I see that DCU is back on the exemption list:
https://www.actuaries.org.uk/studyin...ses-exemptions

So it got worked out, in that the students who did not get their exemptions and sued DCU got a settlement, and then DCU got back in line with the UK actuarial org.
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  #102  
Old 07-30-2018, 12:07 PM
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nope, this person likely never did any UK exams.

In fact, I know 2~3 people who got their ASA this way (i.e., only took 1 prelim exam which is exam P at the end of 2014/beginning of 2015) and are all now either FSA or extremely close to being FSA.

their names don't show up at http://www.actuarial-lookup.co.uk/ at all.

I can do one better - 0 prelims written

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  #103  
Old 07-30-2018, 12:20 PM
stefanos stefanos is offline
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I can do one better - 0 prelims written

Do you know for a fact that the person didn't start taking exams prior to 2007, or that it's not a duplicate/changed name issue?
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  #104  
Old 07-30-2018, 12:57 PM
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Do you know for a fact that the person didn't start taking exams prior to 2007, or that it's not a duplicate/changed name issue?
There's so much information there to help readers to verify, though.
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  #105  
Old 07-30-2018, 12:58 PM
waado waado is offline
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Do you know for a fact that the person didn't start taking exams prior to 2007, or that it's not a duplicate/changed name issue?

Yes. This person did a masters program. The way it works (or at lest the way it worked 4-5 years ago) is that if you get good enough marks in all necessary classes you can get exemptions for all prelims. Then you do FAP and get your ACIA (this person went to school in Canada); then you, through mutual recognition, you get your IFoA, which in turn gives you your ASA. From then on you get your FSA the normal way.

Those prelim exemptions were not available to undergrads at the time. If i'm not mistaken, they are available now. However, the SOA has closed the IFoA loophole now (I think?) and Canadian students who choose to claim the exemptions won't ever be ASAs/FSAs
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  #106  
Old 07-30-2018, 01:01 PM
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Yes. This person did a masters program. The way it works (or at lest the way it worked 4-5 years ago) is that if you get good enough marks in all necessary classes you can get exemptions for all prelims. Then you do FAP and get your ACIA (this person went to school in Canada); then you, through mutual recognition, you get your IFoA, which in turn gives you your ASA. From then on you get your FSA the normal way.

Those prelim exemptions were not available to undergrads at the time. If i'm not mistaken, they are available now. However, the SOA has closed the IFoA loophole now (I think?) and Canadian students who choose to claim the exemptions won't ever be ASAs/FSAs
Thanks, this is the answer I was looking for. So it is a loophole!

Surprised that the SOA wouldn't do anything about those who already got their ASA or even FSA exploiting this loophole.

oh wells.
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  #107  
Old 07-30-2018, 01:09 PM
waado waado is offline
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Originally Posted by Pension.Mathematics View Post
Thanks, this is the answer I was looking for. So it is a loophole!

Surprised that the SOA wouldn't do anything about those who already got their ASA or even FSA exploiting this loophole.

oh wells.
Why would they do something about it? Whenever there are education requirement changes, everyone that started under the old system gets grandfathered in. Otherwise, with the new changes that just came into effect, we'd all lose both our FSAs and ASAs
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  #108  
Old 07-30-2018, 01:10 PM
Pension.Mathematics Pension.Mathematics is offline
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Why would they do something about it? Whenever there are education requirement changes, everyone that started under the old system gets grandfathered in. Otherwise, with the new changes that just came into effect, we'd all lose both our FSAs and ASAs
but this was clearly a loophole.

i.e., the shifting from the old system to the new is not the result of requirement changes, but the closing of a loophole.
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  #109  
Old 07-30-2018, 02:55 PM
waado waado is offline
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but this was clearly a loophole.

i.e., the shifting from the old system to the new is not the result of requirement changes, but the closing of a loophole.
Well sure, maybe I shouldn't have called it a loophole.

Having mutual recognition between the SOA/IFoA means that the two organizations approve each other's exam structures/requirements. If the IFoA changes something about their exam requirements, and the SOA maintains the mutual recognition, then, in essence, the SOA has approved the requirement change.
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  #110  
Old 07-30-2018, 04:21 PM
Pension.Mathematics Pension.Mathematics is offline
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Well sure, maybe I shouldn't have called it a loophole.

Having mutual recognition between the SOA/IFoA means that the two organizations approve each other's exam structures/requirements. If the IFoA changes something about their exam requirements, and the SOA maintains the mutual recognition, then, in essence, the SOA has approved the requirement change.
no one in their right mind would go out of their way to get IFoA recognition if they don't need to work in the UK. it is not difficult to see that these people ultimately wanted SOA recognition, they just abused IFoA's system to get their ASA.

I am surprised that you don't think this is a loophole.
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