They’re rearranging syllabus material to make the exam times more manageable, effective Spring 2023. There’s also fewer ways to get the CERA designation.
Wow. Thanks for linking this here, I didn’t get an SOA email or anything.
Seems like a 3.5 or 3 hour exam fits with the CBT format much better, but it will be rough. I’m assuming that they will still have way more on the syllabus than can be tested in 3 hours, so you’ll still be left hoping they ask for something you studied.
I’m kind of happy to see that Specialty will get an additional hour though. It’s brutal when you have 4-6 questions and you don’t know one. I really hope I pass this sitting though and don’t have to take it.
I haven’t gotten an SOA email either, a friend somehow found out and sent it to me. Apparently exam PA for the ASA track has a similar change.
I think it’s a good change because I hated the 5-hour straight format. I’m just salty it’s immediately after I (hopefully) finish. They should’ve done this from the start.
My only “complaint” will be if I end up with the 5hr Dp/FV and 3hr Specialty. I should get some type of super FSA distinction for that lol
Why does the SOA insist on making the exam process easier? I need to start voting for SOA officials who promise to keep the exam process the same or make it harder.
They should keep the 4 question roulette for spec, it is a rite of passage.
Just take spec now while it’s still 2 hours
Then enjoy the new core/adv exams in 2023
Please no. I’m on my 3rd try with this stupid exam.
Here’s the page for the ASA changes, though it seems vague: ASA Pathway: Reduction of Exam Hours and Content | SOA
So for those of us who didn’t have to take PA, are we going to have to take 2 exams now (if we don’t get FSA by the end of the year)?
Also wondering this
I’d reach out to the SOA to confirm, but based on the following excerpt, my guess is you only need exam PA (where IFM was previously MFE) (emphasis added):
The requirements for ASA, and therefore for FSA by implication, will be having credit for either IFM or ATPA. Any candidate earning an ASA based on IFM will not be required to pass ATPA to earn an FSA. In 2022, candidates will have a choice of these two exams, but starting in 2023, only ATPA will be available.
If I fail Specialty this sitting, then I’ll reach out to confirm. If I pass then it doesn’t effect me (assuming I pass DMAC too).
That additional Specialty hour is going to be material you’ve had already though, it may be beneficial.
My beef with speciality (failed with 4 5’s before a pass) was ALWAYS that there weren’t enough questions for the material covered. Longer would have been better imo.
I completely agree.