P&C Actuarial job Q&A

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Hi there,

Having been worked in the P&C actuarial field for 5 years (4 years in an American company and one year in a British company),  I would like to share my experience with you guys. Should you have any questions regarding the P&C actuarial field, please post them here. I will try my best to answer your questions.

Thanks,

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关键词：Actuarial Actuar ACT job Experience experience regarding company please field

怎么不见附件？？？

I really expect the sharing, waitting for the post.

There is no attachment. My rule of this game is: you post questions, and I will provide answers based on your questions. Why? simply because I have no idea what kind of information you need .......

Salary Survey as of Oct 2009

Property & Casualty October 2009	0-0.5 yrs (excl. sign-on)	0.5- 2.5 yrs	2.5- 4.5 yrs	4.5- 6.5 yrs	6.5- 9.5 yrs	9.5- 14.5 yrs*	14.5- 19.5 yrs*	19.5+ yrs*
1 exam	48-65	51-66	55-72
2 exams	51-68	55-72	60-77	65-82
3 exams	53-70	57-77	66-84	69-89	73-100
4 exams	57-74	62-84	69-92	75-99	75-109	93-138
5 exams		65-89	73-104	80-112	83-126	97-149
6 exams		71-94	80-113	87-124	97-140	110-170
ACAS		81-110	84-124	92-137	105-160	119-185	135-266	152-305+
8 exams			91-133	104-155	111-174	134-224
FCAS				120-184	134-215	154-329	171-439	179-478+

CEO/CFO/COO/CIO/CRO/President - 10th-90th percentile TBD data points - from 2009 SEC Def 14A filings

N/A

Usually, P&C actuaries earn more money than their couterparts in the Life/Health/Pension fields. Not sure if that is due to they have to pass more exams.

P&C:

Old Structure:
7 exams ACAS
9 exams FCAS

New Structure:
6 exams + 2 Modules ACAS
9 exams + 2 Modules FCAS

Life/Health/Pension:
4 exams + 2 Modules ASA
6 exams + 2 Modules FSA

Life & Health October 2009	0-0.5 yrs (excl. sign-on)	0.5- 2.5 yrs	2.5- 4.5 yrs	4.5- 6.5 yrs	6.5- 9.5 yrs	9.5- 14.5 yrs*	14.5-19.5 yrs*	19.5+ yrs*
1 course	46-62	51-66	55-72
2 courses	49-67	55-72	60-77	64-82
3 courses (MLC+MFE=1)	52-69	57-76	63-83	67-88
4 courses	54-71	61-83	67-89	72-96	75-103
5 courses (or 4 + FAP I)		65-88	72-96	80-108	84-118
ASA		73-98	78-108	88-119	93-132	98-146	109-234	115-252+
7 courses					95-137
8 courses					105-147
FSA			95-148	101-158	110-174	127-220	144-324	150-359+

Pension October 2009	0-0.5 yrs (excl. sign-on)	0.5- 2.5 yrs	2.5- 4.5 yrs	4.5- 6.5 yrs	6.5- 9.5 yrs	9.5- 14.5 yrs*	14.5-19.5 yrs*	19.5+ yrs*
1 course	47-62	51-64	55-70
2 courses	51-64	53-66	60-76	63-81
3 courses (MLC+MFE=1)	53-70	58-72	63-85	66-91	72-95
4 courses	55-73	61-79	68-90	73-100	78-106
5 courses (or 4 + FAP I)		67-88	71-94	76-104	80-112
ASA		68-91	74-99	81-111	85-117	103-155	123-237	140-258+
7 courses					89-129
8 courses					103-144
FSA				97-134	108-163	133-205	147-321	150-344+

Life/Health/Pension combined-CEO/CFO/CIO/COO/Pres.-10th-90th% TBD data points - from 2009 SEC Def 14A filings

N/A

Exams:

The first 4 exams are jointly held by SOA & CAS. They are multiple choice questions (in another word, you guess)

From 5 to 9 are easy exams.

Exam 1—Probability
Exam 2—Financial Mathematics
Exam 3—Actuarial Models: (3F) Financial Economics and (3L) Life Contingencies and Statistics
Exam 4—Construction and Evaluation of Actuarial Models
Exam 5—Introduction to Property and Casualty Insurance and Ratemaking
Exam 6—Reserving, Insurance Accounting Principles, Reinsurance, and Enterprise Risk Management
Exam 7—Nation-Specific Examination
        • Canada
        • Taipei
        • United States Fellowship Examinations
Exam 8—Investments and Financial Analysis
Exam 9—Advanced Ratemaking, Rate of Return, and Individual Risk Rating Plans
Starting 2011, the education structure will be changed to:

• Exam 5 Draft: Basic Ratemaking and Reserving
• Exam 6-Canada Draft: Nation-Specific Exam: Regulation and Financial Reporting
• Exam 6-United States Draft: Nation-Specific Exam: Regulation and Financial Reporting
• Exam 7 Draft: Advanced Techniques in Unpaid Claim Estimation, Insurance Company Valuation, and Enterprise Risk Management
• Exam 8 Draft: Advanced Ratemaking
• Exam 9 Draft: Financial Risk and Rate of Return
• Module 1 Topics: Risk Management and Insurance Operations
• Module 2 Topics: Insurance Accounting, Coverage Analysis, Insurance Law, and Insurance Regulation

You guys can cilck the links to get more information about current opening jobs and exam materials.