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  #1131  
Old 06-12-2019, 02:59 PM
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Mary Pat Campbell
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My mom worked for a GI at one point... she had quite a few .. "interesting" stories
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  #1132  
Old 06-12-2019, 03:00 PM
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Headline for today is: "NAIC clears blockage to GI track"
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  #1133  
Old 06-12-2019, 03:35 PM
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Quote:
Originally Posted by campbell View Post
Victory!

NAIC Approves SOA GI Track for Qualified Actuary Education
https://www.soa.org/resources/announ...ary-education/
Honestly, Iím going to hope this brings some positive change for the CAS. They have completely been screwing over MAS-1 candidates, with the most ridiculous and unfair exams the past two sittings (fall 18 and spring 19). The worst part is that actuaries who passed prior versions of the exam donít even notice the super spike in difficulty/inconsistency of the exam, just blame us for not being prepared every damn time. And I know actuaries whoíve passed exams 5 and 6 feeling this way and finding this exam even harder than 5/6, so itís not like weíre just not used to testing at higher levels like the exam committee loves to claim. And it looks like exams 7 and 8 from 2018 didnít go much better...

Iím going to naively hope that now that there is the possibility of employers supporting this GI track with NAIC signing authority, candidates now finally have an option instead of having to play the lottery with this system. It might take a while for this to catch on, but if passrates continue to plummet, people will have to take action eventually. Maybe the CAS might finally realize this and decide to make their exams more fair and find another way to distinguish themselves rather than just keep super low passrates with the goal of exclusivity ďwe have the best of the best.Ē
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  #1134  
Old 06-12-2019, 04:08 PM
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Yes, perhaps with outside pressure, CAS will clean up some of their exam operations.

Because the candidates pointing out the problems before didn't seem to do much. Even when there were multiple analyses, just coming with the data from -outside- the system, that indicated there were real problems.
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  #1135  
Old 06-12-2019, 04:40 PM
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i'm really glad i'm in my last year as an actuarial
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  #1136  
Old 06-12-2019, 05:44 PM
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Even when there were multiple analyses, just coming with the data from -outside- the system
Is there a short version of the explanation for this?
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  #1137  
Old 06-12-2019, 08:57 PM
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Quote:
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Is there a short version of the explanation for this?
here are a few threads I had saved from earlier attempts to help CAS members/candidates in getting together complaints:
http://www.actuarialoutpost.com/actu...d.php?t=311148
http://www.actuarialoutpost.com/actu...d.php?t=232447
http://www.actuarialoutpost.com/actu...d.php?t=231153
http://www.actuarialoutpost.com/actu...d.php?t=235587

That's the public stuff. I had private conversations with a variety of CAS folks, but ultimately dropped pursuing any of this myself. I'm not a CAS person. It's really not my business.

also, to be fair, there is this from the CAS folks: [this has to do with the fall 2011 debacle, which I believe has not been replicated... but I could be wrong about that]
https://www.casact.org/admissions/pa..._PassRatio.pdf
https://blog.casact.org/2012/02/08/a...-exam-results/

The specific operational disaster that was the Technology-Based Exams, they learned that lesson good and hard. Here is the pre-exam sitting thread:
http://www.actuarialoutpost.com/actu...d.php?t=327780

The post-exam threads are best unread. As it is, the CAS dropped the TBE (for now), but it seems like a lot of the problems were anticipated in the thread I linked to above.
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  #1138  
Old 06-12-2019, 10:14 PM
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I do believe that the CAS had made some changes as a result of some of those threads. More specifically, they now release an Examiner's Report that gives some additional details on what graders were specifically looking for (e.g., the rubric with significant filters; but the reports are still a positive step forward).

It's also interesting that they also now release all scores rather than just those who didn't pass.
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  #1139  
Old 06-12-2019, 10:34 PM
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Ah, I didn't know that.

FWIW, the SOA has changed how we do exam solutions for FSA exams as well. We now also include graders' commentary.

The UK folks got there before either the SOA or CAS.
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  #1140  
Old 06-13-2019, 01:45 AM
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Quote:
Originally Posted by campbell View Post
also, to be fair, there is this from the CAS folks: [this has to do with the fall 2011 debacle, which I believe has not been replicated... but I could be wrong about that]
https://www.casact.org/admissions/pa..._PassRatio.pdf
https://blog.casact.org/2012/02/08/a...-exam-results/
You missed this one from Fall 2018.
https://www.casact.org/press/index.c...articleID=4278

Was pretty much a repeat of 2011 (with Exam 6 being the exception), and the CAS response of "Screw you study harder, this process is perfect. You students are just stupid." I especially was pissed at the MAS-I/II response, given that "third party resources" pointed to faults in their exams, yet they refused to adjust anything or even provide an examiners report.

It pretty much took the disaster of something like TBE to occur for them to even care to change anything. Clearly the 2011 and 2018 low pass rates aren't something they care too much about.
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