Questions and Answers
Q. Can I really get credit for Exam 2 by passing SoA Course 140 if I have Parts 1 and 2? A. The CAS and SoA recognize each other's transition rules for jointly administered Exams 1 and 2. The SoA conversion rule described above is accepted. However, the CAS also grants credit for Exam 2 if a candidate has passed Parts 1, 2, and 5B (Finance). Advanced financial topics are tested on Exam 8. It would greatly benefit the candidate to master Part 5B before attempting Exam 8. Q. If I am an Associate, but have not passed Part 8, will I still be an ACAS after 1999? A. Yes. Your status as an Associate will not change. However, in order to become a Fellow, you would have to pass either Part 8 or the new Exam 7 in addition to the other Fellowship Examinations. Q. Are the transition rules final? Or will there be changes? A. Revised transition rules for Exams 2 and 4 were announced on July 29, 1997. (The revisions have been incorporated into the transition rules summarized in this newsletter.) Although the Board of Directors retains the right to make changes to the transition rules, there are no additional changes currently under discussion. Q. Will the Spring Examinations be offered more than two times before the new system is implemented? A. A. The CAS will maintain the current schedule of offering Parts 6, 8, and 10 only in Spring 1998 and Spring 1999.