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CAS Board Activities
Regina Berens
Midwest Actuarial Forum
March 22, 2007
Agenda
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CAS Education White Paper
Other Items:
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ERM Vision
International Vision
Committee Priorities
Refreshed Centennial Goal Wording
Image of the Actuary Campaign
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CAS Education White Paper
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History
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Approach
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White Paper- Major Points
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Mastery by all of some material, familiarity by all
with some material, rigorous mastery of some
material by some members
Certificate (maybe ACAS) or junior membership
at some interim point
Specialty courses should also be offered as
Continuing Professional Development (CPD)
Improve educational materials
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Survey of StakeholdersResults
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More than 8 in 10 agreed with Mastery of some
material, familiarity with others.
Only 10% disagreed with more rigorous CPD
opportunities
Certificates of Achievement in specialty areas:
45% agreed, 44% disagreed, 22% no opinion
Plus 206 written comments!
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Survey Comments- Themes
1. Survey was “slanted” towards favorable answers.
2. Specialization certificates would make it hard to
move into other areas.
3. VEE not a good idea- people will “shop” for easiest
courses, career-changers don’t want to/can’t go
back to college
4. We have a lot to gain if we just improve current exams.
5. Give upper exams twice a year.
6. Why are we using the SOA as a role model?
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Comments- More Themes
7. Exams are a barrier to entry designed by a small group of
elites who want to keep themselves expensive and don’t
want to dilute the ACAS/FCAS designation.
8. Make sure this credential means something.
9. Exams cannot make people experts- only experience can.
10. We need other delivery methods besides closed-book
exams.
11. CPD requirements- good or bad?
12. Stop jerking us around!
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Other Board Activities
ERM
Vision
International Vision
Committee Priorities
Refreshed Centennial Goal Wording
Image of the Actuary Campaign
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Anything to add?
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Thank You!
Regina Berens
Midwest Actuarial Forum
March 22, 2007