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  #1  
Old 11-30-2009, 06:09 PM
Chalengr Chalengr is offline
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Default MLC + MFE should be offered more often

I really think there should be a push for MLC and MFE to be offered at 3 or 4 times a year. The number of exams passed is one of the most important factors in getting an entry level job. Failing an exam could potentially lead to 6 additional months of unemployment (or at least getting an actuarial job) until one has a shot at passing an exam again. Seriously, that's a long time to wait. I understand it's OK for the upper level exams because most people are working at that point, but MLC and MFE really need to be offered more often. It really sucks having to wait that long to get another shot at getting an entry level job, especially as more and more people have 3-4 exams upon completion of university.

I'm just speaking from my own personal experience. I know exam C is offered 3 times a year, yet MLC and MFE are still only offered twice.
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  #2  
Old 11-30-2009, 06:11 PM
Mary Frances Mary Frances is offline
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Originally Posted by Chalengr View Post
I really think there should be a push for MLC and MFE to be offered at 3 or 4 times a year. The number of exams passed is one of the most important factors in getting an entry level job. Failing an exam could potentially lead to 6 additional months of unemployment (or at least getting an actuarial job) until one has a shot at passing an exam again. Seriously, that's a long time to wait. I understand it's OK for the upper level exams because most people are working at that point, but MLC and MFE really need to be offered more often. It really sucks having to wait that long to get another shot at getting an entry level job, especially as more and more people have 3-4 exams upon completion of university.

I'm just speaking from my own personal experience. I know exam C is offered 3 times a year, yet MLC and MFE are still only offered twice.
Patience. Converting over to CBT takes time. They're targeting about one every other year, I think.
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  #3  
Old 11-30-2009, 07:07 PM
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bdschobel bdschobel is offline
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MFE is next in line (after C), then MLC. It's a couple of years away still, but inevitable.

Bruce
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  #4  
Old 11-30-2009, 07:54 PM
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The number of candidates will increase as the exam frequency increases. We've already seen this over the past few years. Things will just get even more competitive, especially in Canada since we don't have to be as reliant on those schools. I have more resumes with multiple exams passed than I know what to do with.

Increasing frequency will also compound concerns some employers have voiced with the decreasing amount of experience that new Fellows have.

Sorry bud. No free lunch.
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  #5  
Old 11-30-2009, 10:12 PM
jprep jprep is offline
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Originally Posted by Anonymouse View Post
The number of candidates will increase as the exam frequency increases. We've already seen this over the past few years. Things will just get even more competitive, especially in Canada since we don't have to be as reliant on those schools. I have more resumes with multiple exams passed than I know what to do with.

Increasing frequency will also compound concerns some employers have voiced with the decreasing amount of experience that new Fellows have.

Sorry bud. No free lunch.


It's sad but true. As much as I like being able to have taken P/1 in September, and FM/2 this December, they ultimately carry less value in terms of employment.

If you have more frequent chances to pass an exam, then so does everybody else, and the oversupply of candidates will only get worse. Maybe when we get out of the recession, and everybody realizes that the entry-level job market is even worse than it is now, people will wake up. Even if the recession never happened, at this rate, we would eventually get to an oversupplied market.

This profession is incredibly volitile, due to the fact that it's so small. If a small profession (with great perks) suddenly becomes knowledge to the general public (say, listed in a "best jobs" article), we will suddenly get too many people interested in the profession, and the number of people passing exams will eventually become larger than the entry-level jobs available... then the oversupply comes, and eventually the perks start to lessen in shift with supply and demand. Then again, this profession wasn't able to be hidden forever... (not that anyone was trying to hide it, beanactuary.com for instance).

What we need to do now is drive people away... dontbeanactuary.com! Filled with FEM goodness.
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REPENT
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You sound way too excited about studying for 7.

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A bit of an early start for a second sitting, but this exam is a must pass, and there's no such thing as too much studying for a must pass
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  #6  
Old 11-30-2009, 10:17 PM
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Darkness Falls Darkness Falls is offline
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Quote:
Originally Posted by jprep View Post
the number of people passing exams will eventually become larger than the entry-level jobs available.
Easy solution, expand the CAS's 70% pass mark target to all the exams.
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  #7  
Old 11-30-2009, 10:23 PM
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munyi88 munyi88 is offline
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Quote:
Originally Posted by jprep View Post


It's sad but true. As much as I like being able to have taken P/1 in September, and FM/2 this December, they ultimately carry less value in terms of employment.

If you have more frequent chances to pass an exam, then so does everybody else, and the oversupply of candidates will only get worse. Maybe when we get out of the recession, and everybody realizes that the entry-level job market is even worse than it is now, people will wake up. Even if the recession never happened, at this rate, we would eventually get to an oversupplied market.

This profession is incredibly volitile, due to the fact that it's so small. If a small profession (with great perks) suddenly becomes knowledge to the general public (say, listed in a "best jobs" article), we will suddenly get too many people interested in the profession, and the number of people passing exams will eventually become larger than the entry-level jobs available... then the oversupply comes, and eventually the perks start to lessen in shift with supply and demand. Then again, this profession wasn't able to be hidden forever... (not that anyone was trying to hide it, beanactuary.com for instance).

What we need to do now is drive people away... dontbeanactuary.com! Filled with FEM goodness.
i am totally agreed with jprep.
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  #8  
Old 11-30-2009, 10:57 PM
Anonymouse
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You don't need dontbeanactuary.com. Once it get's to the point where you need 4-5 exams + CFA level one just to be in the running people will find better options.
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  #9  
Old 12-01-2009, 12:00 PM
LifeAct LifeAct is offline
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Quote:
Originally Posted by Chalengr View Post
I really think there should be a push for MLC and MFE to be offered at 3 or 4 times a year. The number of exams passed is one of the most important factors in getting an entry level job. Failing an exam could potentially lead to 6 additional months of unemployment (or at least getting an actuarial job) until one has a shot at passing an exam again. Seriously, that's a long time to wait. I understand it's OK for the upper level exams because most people are working at that point, but MLC and MFE really need to be offered more often. It really sucks having to wait that long to get another shot at getting an entry level job, especially as more and more people have 3-4 exams upon completion of university.

I'm just speaking from my own personal experience. I know exam C is offered 3 times a year, yet MLC and MFE are still only offered twice.
A good entry level candidate is better off with exams offered less often. It makes them look alot better when they have 4 exams passed when everybody else has 2-3. If all of the prelims are offered 4 times a year, then the typical candidate will end up with 4-5 prelims completed prior to graduation and the good candidate will seem average.
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  #10  
Old 12-01-2009, 12:14 PM
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Quote:
Originally Posted by LifeAct View Post
A good entry level candidate is better off with exams offered less often. It makes them look alot better when they have 4 exams passed when everybody else has 2-3. If all of the prelims are offered 4 times a year, then the typical candidate will end up with 4-5 prelims completed prior to graduation and the good candidate will seem average.
The good candidate won't be pursuing act sci
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