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Draft Syllabi for New 2011 Exams and Modules Released

21 January 2010

To Members, Candidates, and Educators,

The CAS Executive Council has approved the drafts of the syllabi for new Exams 5-9 that will be implemented in 2011 as well as the topics to be covered by Modules 1 and 2. Please note that the drafts are being provided so that candidates and educators will have a sense of the learning objectives and readings. The Syllabus Committee will continue work on the syllabi to identify readings currently marked as “TBA.” In addition, clarified learning objectives and changes to specific readings may be incorporated into the final edition.

The final 2011 Syllabus of Basic Education will be released in November 2010 and the 2011 Study Kits will be available in December 2010.

The new exams and modules for 2011 are:

Transition rules for the 2011 education structure and background information are available on the CAS Web Site.

2011 Membership Requirements

Associateship

As announced by the CAS Board of Directors in March 2008, the requirements for Associateship in the 2011 education structure are successful completion of the validation by educational experience requirements (Applied Statistical Methods, Corporate Finance, and Economics), Modules 1 and 2, Exams 1-6, and the Course on Professionalism

Fellowship

In addition to the Associateship requirements listed above, Fellowship will require the successful completion of Exams 7-9.

I am very grateful to the members of the Syllabus Committee, representatives from the Examination Committee, and all who worked so hard to craft the syllabi for 2011.

Sincerely,

David L. Menning, FCAS, MAAA
Vice President-Admissions

ADDENDUM: REINSURANCE IN CAS SYLLABUS FOR 2011

There have been inquires about coverage of reinsurance on the 2011 CAS syllabus. The American Academy of Actuaries’ Casualty Practice Council had previously noted that, under the 2011 syllabus, the basic education requirements for signing an actuarial opinion would be CAS Associateship plus new Exam 7 (Advanced Reserving and ERM) which, among other things, covers reinsurance. [See the related article that appeared in both The Actuarial Review and Future Fellows]. In creating the individual exam syllabi for the 2011 education structure, the Syllabus Committee decided that reinsurance would best be covered on two exams – within the context of reserving (new Exam 7) and reinsurance ratemaking (new Exam 8). This proposal was submitted to the Academy’s Casualty Practice Council to address a concern that new Exam 8 might also be required to sign an opinion. The CPC, however, reviewed the proposal and replied that this change did not cause it to change its previous guidance that, under the 2011 CAS education structure, ACAS and New Exam 7 (“or coverage of the reinsurance topic at the same level of mastery through alternative education”) would be required to meet the specific qualification standard for NAIC PC Opinions.

ADDENDUM: SCHEDULE OF NEW EXAMS

Starting in 2011, the upper-level exams will be offered as follows:

  • Spring: Exams 5, 7, and 9
  • Fall: Exams 6-Canada, 6-U.S., and 8

ADDENDUM: Exam 7 Test Time

In April 2010, the CAS increased the test time for new Exam 7 from three hours to four hours.

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