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The CAS is pleased to announce the publication of the new Content Outlines (formerly referred to as Syllabi) for Exams 6-United States, 6-Canada, 6-International, and 8 as outlined in the Admissions Transformation Plan (ATP). The new content outlines enable candidates to begin their preparations for the new exams, which are anticipated to launch in October/November of 2024. Candidates preparing for the April/May 2024 administration of Exams 6U or 6C should refer to the current April/May 2024 Syllabi.
Dear CAS Candidates and Members in Quebec,
Quebec Bill 96 includes language requirements for conducting business within Quebec, which requires all educational transactions to be completed in French. Currently, CAS exams and supporting materials are offered only in English, including within Canada.
The first E-Forum of 2024 is live! The Winter 2024 E-Forum features two independent research articles: Jim Weiss addresses potential bias in pricing models, and Pietro Parodi and colleagues examine loss modeling from first principles.
The CAS has released its schedule of 2024 examinations, which will be administered via computer-based testing at Pearson VUE Professional Centers.
The complete 2024 exam schedule is as follows:
Notes to Exhibits
Test and Assumptions Currency Example
Exhibit I Professional Lines Example
Exhibit II Liability Lines Example
CAS Monograph No. 11: Federal Income Taxes — Provisions Affecting Property and Casualty Insurers: An Update to the Almagro/Ghezzi Paper of 1988 and the Feldblum Paper of 2007
by Arlene M. Richardson, FCAS, MAAA and Joel S. Chansky, FCAS, MAAA
CAS Monograph No. 10: Using the Hayne MLE Models: A Practitioner's Guide
by Mark Shapland
CAS Monograph No. 9: Data Quality Management in the P&C Insurance Sector
Reliable data has always been integral to P&C insurer operations, but the importance of data quality has increased significantly as new data sources and analytical methods, such as machine learning and artificial intelligence, have become available. The phrase “garbage in, garbage out” has never been more relevant, and actuaries increasingly must understand and quantify the impact that the quality of the data has on their work.
CAS Monograph No. 3 : Stochastic Loss Reserving Using Generalized Linear Models
by Greg Taylor and Gráinne McGuire
CAS Monograph No. 6: A Machine-Learning Approach to Parameter Estimation
CAS Monograph No. 5: Generalized Linear Models for Insurance Rating, 2nd Edition
by Mark Goldburd, Anand Khare, Dan Tevet, and Dmitriy Guller
CAS Monograph No. 4: Using The ODP Bootstrap Model: A Practitioner’s Guide
by Mark Shapland, FCAS
CAS Monograph No. 2: Distributions for Actuaries
by David Bahnemann
CAS Monograph No. 8: Stochastic Loss Reserving Using Bayesian MCMC Models (2nd Edition)
by Glenn Meyers, FCAS, MAAA, CERA
As many CAS members know, February is National Black History Month – a month honoring the contributions and legacy of Black people throughout U.S. history. To celebrate and share stories from CAS’s Black members and community, the CAS ran the BHMxCAS campaign throughout the month of February.
The CAS is in the midst of our Summer of CE, a campaign designed to highlight our summer events and provide discounts on special offerings. To better understand the on-site and virtual event experience, we conducted a survey of recent CAS event attendees. We are delighted to share the results below.
Here are key findings from the survey:
We hope you have enjoyed following along with the hashtag #ActuariesinTECH this July. Throughout the month, we highlighted our members working in the tech space and their unique innovations in both big tech and the startup space. This campaign is the fourth in our “Actuaries in…” series, following #ActuariesinCOMMUNITY, #ActuariesinMUSIC and #ActuariesinPOP.
I had the opportunity to interview the new CAS President, Frank Chang, FCAS, while attending the 2023 Annual Meeting in Los Angeles. Chang and I discussed developments in the CAS Admissions Transformation Plan (ATP) and expectations for future changes to the CAS examination and credentialing process, diverging experiences and pathways between CAS candidates and candidates pursuing other actuarial credentials, and the CAS’s commitment to strengthening DEI in our profession, among other topics.
As we come to the end of 2023, the Candidate Advocate Working Group (CAWG) wanted to reflect on what our amazing group of volunteers has accomplished.
Milton Friedman, a distinguished economist and statistician, who was honored with the Nobel Memorial Prize in Economic Sciences in 1976, once famously said, “They [actuarial exams] are about the hardest examinations in the world, as anybody will tell you, in mathematics. I failed some and passed some.” Indeed, actuarial science has long been associated with complexity and rigorous mathematical analysis. Actuaries play a vital role in the insurance industry, estimating risks and managing financial outcomes, earning admiration and recognition from many stakeholders.
For our final installment of the Practical Professionalism series, we’re going to look at the following hypothetical scenario:
In the property and casualty industry, there are certain roles that are more common for CAS students and credentialed actuaries. It is very common, especially early in a P&C actuarial career, to work in some capacity with pricing or reserving. Many students out of college find their first job or internship completing rate reviews and filings for a P&C insurance company. It’s a great way to gain an early understanding of what the actuarial profession will entail, but it isn’t the only route.
