Is CPCU as difficult as FSA or FCSA

[sunzhoujian]

Originally Posted by GraffixMan

Correct me if i'm wrong but CPCU is an underwriting designation? CFA is a finance designation, and ARM is a risk management designation. I'm also assuming you wish to supplement your actuary credential with one of these. Forget about CPCU, as someone already mentioned there is hardly any added value. Get your CFA if you want to work in investments(investment banking, trading, portfolios). Get the ARM if you want to get into Loans(credit unions, credit card companies).

GraffixMan, thanks a lot for your advice.

[DW Simpson]

Informative CPCU exam thread: http://www.actuarialoutpost.com/actu...highlight=cpcu

[Dr. John Zoidberg]

In general, any actuarial exam will be much much harder than any other insurance-related test you'd take.

[tommie frazier]

ARM is actually more for property casualty risk management from a company's perspective. Not so much financial RM. like comp and property coverage and stuff like that. it is 3 exams, and would take most actuaries about...60 hours of total studying to pass. 100 would be overkill.

[Maine-iac]

CPCU exams are less difficult to pass than actuarial exams. They are not trivial, however, and CPCU is a respected designation, and one that is essential for an underwriter who wishes to progress in the P&C underwriting arena.

Underwriters and actuaries work very closely in some companies. It is not particularly surprising than an actuarial candidate might interview with a CPCU.

Underwriters are different than actuaries. They are not below actuaries.

(BTW, a fully qualified P&C actuary is an FCAS, not an FCSA. A fully qualified P&C Underwriter would get a CPCU designation. A Life actuary [or health, or pension] would get the FSA designation, and a life underwriter would pursue a CLU designation.)

[sunzhoujian]

Originally Posted by Maine-iac

CPCU exams are less difficult to pass than actuarial exams. They are not trivial, however, and CPCU is a respected designation, and one that is essential for an underwriter who wishes to progress in the P&C underwriting arena.

Underwriters and actuaries work very closely in some companies. It is not particularly surprising than an actuarial candidate might interview with a CPCU.

Underwriters are different than actuaries. They are not below actuaries.

(BTW, a fully qualified P&C actuary is an FCAS, not an FCSA. A fully qualified P&C Underwriter would get a CPCU designation. A Life actuary [or health, or pension] would get the FSA designation, and a life underwriter would pursue a CLU designation.)

Yeah, I have to pay attention to that detail.

[Capt Hilts]

Originally Posted by Maine-iac

CPCU exams are less difficult to pass than actuarial exams. They are not trivial, however, and CPCU is a respected designation, and one that is essential for an underwriter who wishes to progress in the P&C underwriting arena.

Underwriters and actuaries work very closely in some companies. It is not particularly surprising than an actuarial candidate might interview with a CPCU.

Underwriters are different than actuaries. They are not below actuaries.

(BTW, a fully qualified P&C actuary is an FCAS, not an FCSA. A fully qualified P&C Underwriter would get a CPCU designation. A Life actuary [or health, or pension] would get the FSA designation, and a life underwriter would pursue a CLU designation.)

The importance of the CPCU designation varies widely from company to company. I previously worked at a large, very well respected company and very few of the senior underwriters (who were well thought of) had the CPCU designation. I never heard of anyone at that company being passed over for a promotion because they were not a CPCU.

The difficulty level of the exams depends on the candidate's experience. An FCAS would breeze through with very minimal effort just based on work experience and recalling some previously tested material.

Edited to add - it would not be uncommon for an actuary to be interviewed by a CPCU, since actuaries and underwriters work closely together. An experienced candidate would be interviewed by several CAS members and usually at least one underwriter. Inexperienced candidates may only interview with actuaries. I would be surprised if the only contact was an underwriter.

[shalom]

Originally Posted by sunzhoujian

Yeah, I have to pay attention to that detail.

yes, the actuaries don't like themselves to be compared with less difficult exam professions.

[DudeMan]

Originally Posted by tommie frazier

ARM is actually more for property casualty risk management from a company's perspective. Not so much financial RM. like comp and property coverage and stuff like that. it is 3 exams, and would take most actuaries about...60 hours of total studying to pass. 100 would be overkill.

who are the people that fit ARM type of jobs? Is a college degree required? If so, what are common degrees?

[tommie frazier]

ARM is used by corporate risk managers, and consultants who want to have some thing in common with them.