Actuarial Review
Volume 30, No. 2 / May 2003

From the President
Change Happens

by Gail M. Ross

I recently read a thoroughly enjoyable and very enlightening book called Who Moved My Cheese? by Spencer Johnson, M.D. Since there seems to be less time in my life these days to sit down with a good book, when I read for pleasure I generally prefer fiction. However, I had seen this book on nonfiction best-seller lists, and heard lots of buzz about it, so I picked it up in an airport bookstore while waiting for a delayed flight.

Ninety-four pages later (pretty jumbo print), and in less time than it took for my flight to arrive (one hour), I realized this book had a profound impact on me. It's a very simple story about two mice (Sniff and Scurry) and two "Littlepeople" (Hem and Haw) searching for cheese (happiness and success) in a maze (life). Via this story, Dr. Johnson presents a metaphor on life and how different people deal with change.

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Roundtable Discussion
CAS Members Discuss Mutual Recognition
by Arthur J. Schwartz

The CAS Task Force on Mutual Recognition (created in 1998) submitted a report dated January 2000. Basically, the report recognized the difference between practice rights and credentials. The task force noted that there is no barrier to practice for foreign actuaries wishing to do so in the U.S. and Canada. Foreign actuaries can readily obtain practice rights, which are granted by the American Academy of Actuaries (AAA) and Canadian Institute of Actuaries (CIA). Therefore, there seemed little to be gained by granting mutual recognition of credentials, since credentials in North America do not determine practice rights. CAS members also experienced little or no barrier to practice outside North America. Thus the task force recommended NO to mutual recognition, but YES to making it easier for truly qualified actuaries from other countries to practice in the U.S. and Canada. The task force also recommended that the CAS consider waiving certain exams, making it easier for qualified actuaries to gain the CAS credentials by examination.

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