Skipping Preliminary Exams

What are your thoughts on an EL candidate that decides to skip some of the preliminary exams and passes fellowship exams (like say CAS 8 and 9) instead? Will this been seen as a bad thing by employers or do they just care about the total number of exams passed?

[JohnLocke]

I would think "Why the eff would you commit yourself to a track and limit your possibilities when you don't even have a job?"

[DoctorNo]

I would question why someone would take a harder exam (with greater out-of-pocket costs, all borne by the unemployed individual) instead of getting the easier (and cheaper) exams out of the way.

[Carnifex]

I agree with the previous posters comments as well.

Moreover, it lacks rational problem solving I would expect from an Actuary. As when I (& I think most would agree) approach a complex problem (in a business context) it's best to break it up into it's smaller and simpler problems/parts. Then determine what takes priority & spend time & devise a methodical approach your peers would agree with, all while considering a realistic timesframe & what can be accomplished with available resources.

In your case your business problem is achieving FCAS credentials. You broke the problem up into large, complicated, & unrealistic solutions. If you posses the true ability to pass CAS 8 & CAS 9 (notoriously very difficult exams) in a blink of an eye. Why would you not sit for all the Prelims in a sitting or pass them within a year? If I saw a candidate pass all Prelims within a year I would hire he/she in a second....

[Zakarin]

It would definately be unusual - You would certainly stand out. If you have the background on paper to convince me you have the skills to pass the prelim's, I'd definately grant an interview.

Z.

[Blue Man]

If you're going to commit to the CAS track, and wanted to skip the prelims, I could understand that, but I'd want to know why you took 8 & 9 instead of 5 & 7, since the latter are far more relevant to the type of work you'd be doing as an EL student.

Originally Posted by Blue Man

If you're going to commit to the CAS track, and wanted to skip the prelims, I could understand that, but I'd want to know why you took 8 & 9 instead of 5 & 7, since the latter are far more relevant to the type of work you'd be doing as an EL student.

Forget exam 8. I shouldnt have mentionned it.

I was thinking more Exam 5 and Exam 9.

Originally Posted by JohnLocke

I would think "Why the eff would you commit yourself to a track and limit your possibilities when you don't even have a job?"

I have analyzed my situation and I have concluded that ratemaking is the only thing that interests me. The key here is that I dont want to work as an actuary and deal with financial risk management of any kind. If I wanted to work with financial instruments then I would look for a job as a quant or a financial software company. I am a few months away from being able to read articles in the journal of mathematical finance, journal of finance, etc and implementing the strategies numerically. I am just very skeptical about financial modelling and would like something more legit.

By the way I am not unemployed.

[JohnLocke]

Originally Posted by urbansombrero

I have analyzed my situation and I have concluded that ratemaking is the only thing that interests me.

You don't think non-P&C actuaries do ratemaking?

The key here is that I dont want to work as an actuary and deal with financial risk management of any kind. If I wanted to work with financial instruments then I would look for a job as a quant or a financial software company.

Well, most of us work with insurance, but you kinda do that with ratemaking too, bud. It's not like SOA actuaries only work with derivatives and options and all that ballyhoo. Most don't.

I am a few months away from being able to read articles in the journal of mathematical finance, journal of finance, etc and implement the strategies numerically.

?????????

I am just very skeptical about financial modelling and would like something more legit.

??????????

[Dreamer33]

Originally Posted by urbansombrero

I have analyzed my situation and I have concluded that ratemaking is the only thing that interests me. The key here is that I dont want to work as an actuary and deal with financial risk management of any kind.

First off, what you call ratemaking, is pricing risk. If that's not an integral part of "financial risk management" please feel free to educate me.

Second..... your entire post makes it pretty clear that you have very little idea what you are talking about.

My advice would be to get some real experience before jumping to any conclusions on what you are so certain interests you.



But on a more positive note, I think passing upper level exams could potentially make you stand out more than other candidates. But when interviewing, be sure to craft a good response for why you made that decision. (Hint, it will need to be much better than what you just posted.)