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  #31  
Old 08-26-2003, 12:39 PM
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Default All are missing the point of the PE

As someone who went to Business school and works with a bunch of math majors, there are a math majors out there (not everyone) who do not understand the basics of business or economics.

They do not know even the basic economics and business found on course 2, nor have any knowledge of how stocks and bonds work.

Someone working as an actuary should have a basic background in business law, economics, corporate finance, etc. It seems that the soa has decided these topics are best left to course work and not to an soa exam. Perhaps this will encourage more math majors to take some business courses and have a broader background.
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  #32  
Old 08-26-2003, 01:49 PM
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From my personal perspective, a big appeal of the past/current system is no formal educational requirements. Hence your background only matters as much as it helps you prepare for the exams. Some backgrounds can give you an edge, but life is not fair. Some people are better test-takers and the system certainly helps them.

When I was looking for a new carrier, I considered it a big plus that I can work and self-study and do not have to take any college courses. It would be much more difficult for me to make a transition if I had to go back to school and take additional courses.

Right now the report says that an alternatives to preliminary education will be examined. I hope that SOA will continue to offer exam path at least as an alternative to satisfy preliminary education.

Imagine a physics Ph.D. that contemplates becoming an actuary. In my opinion, taking college classes would be a real hardship compared with the posibility of taking an exam to satisfy the requirements.
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  #33  
Old 08-26-2003, 02:21 PM
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Quote:
Originally Posted by Twisted Logic
Right now the report says that an alternatives to preliminary education will be examined. I hope that SOA will continue to offer exam path at least as an alternative to satisfy preliminary education.
I agree. I think a standard exam with a set pass mark, offered on demand, is a viable alternative that will increase travel time.
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  #34  
Old 08-26-2003, 02:22 PM
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Quote:
Originally Posted by Kenny
Quote:
Originally Posted by Twisted Logic
Right now the report says that an alternatives to preliminary education will be examined. I hope that SOA will continue to offer exam path at least as an alternative to satisfy preliminary education.
I agree. I think a standard exam with a set pass mark, offered on demand, is a viable alternative that will increase travel time.
Decrease?
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  #35  
Old 08-26-2003, 02:40 PM
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Quote:
Originally Posted by Twisted Logic
When I was looking for a new carrier, I considered it a big plus that I can work and self-study and do not have to take any college courses. It would be much more difficult for me to make a transition if I had to go back to school and take additional courses.
I agree. Did I miss the transistion rules for the education requitrement or is that not addressed? What about a math major who has courses 1, 3, and 4 but not 2. Would they make him go back and take an econ and finance class?
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  #36  
Old 08-26-2003, 02:40 PM
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I'm sure glad as hell they are doing away with post-2000 system.
Having said that, it looks like I'm losing 30 pd credits in addition to 15 (or 20?) credits that I lost during 2000 conversion! Annoying, to say the least.
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  #37  
Old 08-26-2003, 03:05 PM
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I seem to recall the Transition Committee asking one another how they could redesign the structure so that Jenka could lose another 20 PD credits.
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  #38  
Old 08-26-2003, 03:48 PM
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Quote:
Originally Posted by Emily
Quote:
Originally Posted by Kenny
Quote:
Originally Posted by Twisted Logic
Right now the report says that an alternatives to preliminary education will be examined. I hope that SOA will continue to offer exam path at least as an alternative to satisfy preliminary education.
I agree. I think a standard exam with a set pass mark, offered on demand, is a viable alternative that will increase travel time.
Decrease?
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  #39  
Old 08-26-2003, 04:48 PM
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  #40  
Old 08-26-2003, 05:50 PM
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So what does this mean to those of us who didn't have the coursework in college and may not be done with 1-4 by November 2004? Am I going to have to go back and take the extra business courses at a college near me? Is there a section that explains what students who are mid-sequence will have to do?
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