I’m on the webinar today. I’ll share materials/info if they’re interesting.
here’s the first major slide (and yes, they dropped $$ on McKinsey)
Yes, there is a reason that data science has lower barriers to entry (kinda). There is a reason actuarial work has more requirements.
Most of the people working in data science are not working in heavily regulated areas.
I’m curious what they’re going to do for continuing education
I do know something about what they’re going to try to do for membership engagement. Not sure if they’ll address that.
They’re recording it, and will be posting a link later, which I will share. I’m not sharing the exam changes, because they’re all above, and I’m not interested in digging into the details right now.
ok, I lie, I’ll share some of the transition stuff:
I like the micro-credential concept. I think it’s helpful for people who don’t make it all the way to ASA, but helps signal a certain set of knowledge that is business-relevant.
Affiliate memberships:
If you have official comments/questions, it’s good to email membercomms@soa.org
(I’ve done this over a variety of things)
Okay we’re deep into Q&A session right now.
This webinar is only about the exam changes, microcredentials, and affiliate memberships. The other stuff has yet to be announced.
I’ll link to the recording when available.
Do the micro-credentials require dues & continuing ed to maintain?
Are they subject to the (or a) Code of Conduct?
I’m glad to hear McKInsey is recovering some of the $600 million it paid in the opiod settlement. I wonder if the report is confidential. If not they should post it online so members could see what their dues purchased.
On another note, did you notice how careful they were not to mention university course credit for exams. Stuart Klugman would continually make reference to students taking current actuarial courses will be well prepared to take the exams.
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My understanding is no… (but of course, this could be subject to change)
Great! It should be no trouble for them to pass the exams.
I know I had no problem with the prelims, esp. the forerunner for P (Course 1 – calculus & probability). Because I had taught probability & calculus. I barely had to do extra prep (ok, I took one sample exam to see what the questions would be like.)
The recording of the first session on the ASA changes is here:
LTGS = Long-term growth strategy
Not sure if people received the new draft syllabi for P and FM. P was supposed to be made more accessible for students earlier on. Resulting syllabus change: more weight on general probability and less on multivariate, no transformations, but order statistics and variance of loss amounts now listed.
FM was supposed to eliminate outdated material. They eliminated swaps. I guess noone uses swaps anymore.
Maybe they just moved swaps to FSA-level exams.
Swaps are mainly a life insurance/annuities tool, not used much for health, P&C, or even pensions (though you would think they should…)
quick promo in The Actuary
For as much hype as they’ve been making about these announcements, I have yet to see a change to an educational pathway that benefits members (current ASAs or FSAs). Why are we doing this again?
Money!
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Did something change?