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Last year, the CAS announced that the Board of Directors unanimously approved rescinding the three CAS Statements of Principles related to ratemaking, reserving, and valuation, for the reasons discussed therein. Since then, members and other stakeholders have raised concerns with the Board’s action, specifically related to the Statement of Principles regarding Property and Casualty Insurance Ratemaking.
It is said that a journey of a thousand miles begins with one step. Using Pearson VUE computer-based testing (CBT) services for the Fall 2020 exam sitting represented that one step for the Casualty Actuarial Society (CAS).
Engaging Pearson is expected to have numerous benefits for candidates in the future. These include the ability for questions to simulate real-world scenarios, additional testing opportunities, scheduling flexibility and, one day, maybe even preliminary results for multiple choice exams.
The Candidate Liaison Committee (CLC) is a group of about 25 volunteers who work to be the conduit of information and feedback between the CAS and the candidates who are taking CAS exams. William Wilder, CAS Vice President-Admissions, put it best at the CLC’s recent, virtual annual meeting: “The CLC is the voice and the ear of the candidates.” We are excited to welcome four new CAS members to the CLC.
Ildiko Ban joins the committee from North Vancouver, Canada.
"President’s Message: Bootstraps, Leadership & Uber: A Conversation with Frank Chang” is the first in a new video series presented by Actuarial Review. In this first interview, CAS President Jessica Leong talks with Uber’s Frank Chang, FCAS, about the new CAS Strategic Plan, his thoughts on the future of insurance, and his current role with Uber. The video series features conversations with prominent actuaries and is designed for career-minded professionals. Look for more in the series on the CAS YouTube Channel.
Have you ever been studying for an exam and thought, "Why am I learning this stuff? When am I ever going to use any of it?" If so, you are in luck! This is the first in a series of articles examining how content from CAS exams are used in real life. First up is Modern Actuarial Statistics-I (MAS-I).
Have you ever been studying for an exam and thought, "Why am I learning this stuff? When am I ever going to use any of it?" If so, you are in luck! This is the second in a series of articles examining how content from CAS exams are used in real life.
I have always felt that Exam 5 is the first uniquely actuarial exam, and Exam 6 is the exam that makes you finally feel like an actuary. When you pass Exam 6, you will find yourself vastly more knowledgeable on general P&C insurance regulations, history and financials, and insurance’s role in society.
Registration is now open for the Spring 2021 CAS Exam Sitting, for exams MAS-I, MAS-II, 5, 6-Canada, 6-US, 7, 8 and 9. The registration deadline will be April 9, 2021 at 11:59 PM ET. For exam dates and additional information, visit the exam registration page.
The recording of the October 28, 2020 Admissions Webinar is now available for viewing in the CAS online learning platform. Recorded in advance the Fall 2020 Exam sitting, the webinar for candidates featured a conversation with CAS leadership to hear the latest updates related to the delivery of exams via computer-based testing (CBT) through the CAS partnership with Pearson VUE.
https://www.casact.org/admissions/syllabus/index.cfm?fa=7syllabi&parentID=167
The Casualty Actuaries of New England (CANE), an affiliate of CAS, has released the agenda for their virtual spring meeting, 2021.
Sample Integrative Questions
As originally announced in the December 2016 issue of Future Fellows, the CAS is gradually moving towards an integrative testing framework for Fellowship exams. Integrative Questions (IQs) require candidates to understand multiple facets of the syllabus material and concepts in addressing complex business problems in a single exam question.
IQs were first introduced in Spring 2017 on Exam 9, and were included on Exams 7, 8, and 9 in subsequent sittings. The CAS has received and considered candidate feedback on IQs following each sitting.
The Asia Region Casualty Actuaries (ARECA), the Casualty Actuarial Society's Regional Affiliate in Asia, is pleased to announce its new leadership for 2020. Judy Ng, FCAS, Director at KPMG Singapore, will succeed Guanjun Jiang, FCAS, as the new President of ARECA. Jin Wang, FCAS, Chief Actuary of Zurich General Insurance Company (China) Limited in Shanghai, will become ARECA's President-Elect.
Session 1 - Social Inflation
Tim McCarthy, ISO
Presentation
Session 2 - Scenario Testing COVID-19 Assumptions with Predictive Models
Ralph Dweck, ISO
Presentation
ARECA is pleased to announce the 2020/21 scholarship competition for current undergraduate students in the Asia Pacific region who are interested in pursuing the actuarial profession. Learn More.
