P&C Actuarial job Q&A

Thx a lot, that too kind

thanks a lot.

Exam material:

All 10, TIA, GOLDFARB, Hoffman, and MyKenk are companies which prepare study manuals for candidates. Video course is available if you would like to pay more. The cost usually be around $400 - $1000 based on which package you selected.

With my experience, All 10 is the top one of my list except exam 8. Goldfarb is considered as the best for exam 8. Anyway, reading papers is necessary for all exams whatever study manual you use. Otherwise, you learn very little even you may pass the exam without touching any paper.

Difficulty of exams IMO

7 >> 5 > 6 > 9 > 8

What is more important (add more value), exams, or, experience?

Both are important and they need to be balanced.

For example, if you are a fellow with only 1 year experience, that's an issue; On the other side, if you have over 10 years experience but only 4 exams, that's also a problem. Therefore, you need a balance between number of exams and work experience.

The actuaries working in North America are naturaly in a better position than actuaries working in other country. They attend seminers more often; They change employers more frequently; They have more senior actuaries look over their shoulders ...... They have more chance to practice different theories.

The actuaries working in Europe are very strong in theory. Almost all the advanced actuarial theories were from Europe, for example, credibility, GLM ...... Also, the actuaries in Europe don't have to take exams (except England).

Almost all companies sponsor their actuarial students taking exams.

That includes: study materials, study days, and raise if pass the exam. Some companies also pay for exam seminor fee, flight ticket, and hotel expense.

Study material: All 10, TIA, ......
Study days: first try 15 - 18 days, second try 12 - 15 days, third try 5 - 8 days, ......
Raise: either percentage of base salary or fixed dollar amount

Is that cool?

wanna try the GLM with the Motor Insurance,  any advices? alexbow#msn.com

What's the difference between being an actuary and a PHD. We should take exams life long!

Thank you for your helpful information about the salary data for P&C actuaries, but i guess it tailors for USA market, not in China.

非常感谢你的分享，请问一般你们做数据分析的时候喜欢使用哪些统计软件？ 10# bocm

how many exams do you have? ACAS or FCAS yet?

I just got ASA dsignation, but currently working in P&C and was required to take CAS exams... do you have any suggestion regarding my situation? should i switch to another Life insurance company or continue writing CAS ? i have no preferences to either one.

Thanks.