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“A qualified candidate should never feel lucky to pass.” here we go!
I totally agree. In a few years people after us may think we got there in a more straightforward way. I really hope they won’t make the journey even harder or longer.
I agree that ceiling on the number of credentials won’t make the profession exclusive. Maybe “exclusive” is not the right word. My point is part of the reputation and the honor of being an actuary comes from the credential because it’s hard to get, and not many people get it (or if you’d like to say it’s the ego, that’s fine). The job market also makes it clear that salaries and promotions are to some degree tied to the credentials, even though passing one more exam doesn’t mean you’re better at your job. So what I’m trying to say is that those exams and credentials make this career a bit different from similar professions. When it’s different in a good way, it’s partially due to the very difficulty of getting the credentials.
On one of the CAS webinars or meetings, I remembered that someone said they might lengthen the travel time to fellowship. I was wondering whether they’d say that if they were not FCAS yet.
I agree to set a high bar to make actuarial work/credential exclusive. But on the other hand, if they want to standardize the test as SOA or CFA or CPA did, they need more experts, like psychometricians. CAS is not as wealthy as CFA or CPA who hires educational measurement experts to design and evaluate the test so it’s competitive and fair. I believe CAS will get there eventually. But before that, I feel bad that we are the guinea pig. Just my 2cents.