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SOA Exam M or CAS Exam 3

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  • SOA Exam M or CAS Exam 3

    Hi all,

    According to the following link (http://www.casact.org/admissions/syl...006/exam3.htm), I can get credit for Exam 3 in CAS by taking SOA's Exam M.

    "The CAS will grant credit for CAS Exam 3 to those who successfully complete SOA Course M in the current education structure."

    Is this as easy as sending passing grade receipt from SOA to CAS? Or does it involve much more complicated process?

    I want to take the CAS exam and be in CAS eventually, but the spring 2006 date for Exam 3 is April 26 and May 18 for SOA's exam M. May 18 is much more attractive to me b/c it's really busy time for us at work during the spring months (Btw, I am in consulting and do not get paid time to study).

    Is there a compelling reason to take CAS exam 3 that I am unaware of?

    Thanks for your input in advance.

  • #2
    Originally posted by skywalker
    Hi all,

    According to the following link (http://www.casact.org/admissions/syllabus/2006/exam3.htm), I can get credit for Exam 3 in CAS by taking SOA's Exam M.

    "The CAS will grant credit for CAS Exam 3 to those who successfully complete SOA Course M in the current education structure."

    Is this as easy as sending passing grade receipt from SOA to CAS? Or does it involve much more complicated process?

    I want to take the CAS exam and be in CAS eventually, but the spring 2006 date for Exam 3 is April 26 and May 18 for SOA's exam M. May 18 is much more attractive to me b/c it's really busy time for us at work during the spring months (Btw, I am in consulting and do not get paid time to study).

    Is there a compelling reason to take CAS exam 3 that I am unaware of?

    Thanks for your input in advance.
    CAS 3 covers different information - statistics, to be exact. I'm not sure what branch of statistics CAS 3 focuses on, but it's a part of the CAS 3 syllabus that has no place on SOA Exam M.

    In the future (2006), Exam M will further diverge from CAS 3, in that, SOA M will be extended to 5 hours to incorporate the addition of Financial Economics to the Exam M syllabus.

    Comment


    • #3
      But I am also concerned about whether for 2006 Exam M can be converted to CAS Exam 3. Is there a definite answer to this? I have already missed the registration date for Exam 3 and have to take Exam M this Spring. But I am afraid my SOA history without a proper CAS exam will reduce my chances of getting a P&C job in the future...

      Comment


      • #4
        Originally posted by Edith
        But I am also concerned about whether for 2006 Exam M can be converted to CAS Exam 3. Is there a definite answer to this? I have already missed the registration date for Exam 3 and have to take Exam M this Spring. But I am afraid my SOA history without a proper CAS exam will reduce my chances of getting a P&C job in the future...
        I'm still not sure where the confusion lies. This previously posted link:

        http://www.casact.org/admissions/syl...2006/exam3.htm

        spells out that you would, indeed, receive credit for CAS 3 by passing SOA's Exam M.

        "The CAS will grant credit for CAS Exam 3 to those who successfully complete SOA Course M in the current education structure."

        Passing Exam M will not reduce your chance of getting a P&C job in the future. If anything, passing a third actuarial exam would only help.

        Hope this helps.
        act justly. walk humbly. .

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        • #5
          Oh icic ..thanks a lot it helps. I became confused just because today i d attended a P&C career info session and the guest speaker was saying sth like she would prefer to see CAS exams on candidates' resume instead of all SOAs in a row.. Haha, but if Exam M is convertible to Exam 3 then I think P,FM,M,C will just be fine for a P&C application.

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          • #6
            Simple: Put 'Passed CAS Exam 1, Passed CAS Exam 2, Passed SOA Exam M'

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            • #7
              Does anyone know if the 5 hour exam M in 2007 from the SOA will also be convertible to the CAS Exam 3?

              Comment


              • #8
                Originally posted by actually ..?
                Does anyone know if the 5 hour exam M in 2007 from the SOA will also be convertible to the CAS Exam 3?
                That's a good question. I haven't seen anything official regarding this issue, but I'm a little wary of the situation - the directions that the CAS and the SOA are taking with Exam 3/C (respectively) are diverging. Exam M will have a bunch of Financial Economics on the exam (which is saved for upper-level exams on the CAS side), while CAS 3 covers statistics (not really seen anywhere on the SOA side).

                Comment


                • #9
                  Here's a semi related question. I'm not sure whether I'll be going into P&C or Life or whatever (pretty much wherever I find work I suppose!). I was planning on taking M in the fall, but would it be better to take the joinly offered C/4 instead and take M or 3 after when I know for sure what area I'll be going into?

                  Or is it the kind of thing where C builds on the knowledge you learn from studying for M and it would be smarter to just study for M?

                  Comment


                  • #10
                    Originally posted by Greg1983
                    Here's a semi related question. I'm not sure whether I'll be going into P&C or Life or whatever (pretty much wherever I find work I suppose!). I was planning on taking M in the fall, but would it be better to take the joinly offered C/4 instead and take M or 3 after when I know for sure what area I'll be going into?

                    Or is it the kind of thing where C builds on the knowledge you learn from studying for M and it would be smarter to just study for M?
                    Either way would work. I took Course 4 before taking Course 3, and although I started off at a disadvantage compared to others taking the test with me, I was able to pick up the relevant information from context. While I started at a disadvantage on Course 4, I started off with an advantage on Course 3/Exam M. So, it's whatever you may decide. It's not imperative you take them in order, but it might help.

                    For the record, I did pass that Course 4 I took.

                    Comment


                    • #11
                      Originally posted by Greg1983
                      Here's a semi related question. I'm not sure whether I'll be going into P&C or Life or whatever (pretty much wherever I find work I suppose!). I was planning on taking M in the fall, but would it be better to take the joinly offered C/4 instead and take M or 3 after when I know for sure what area I'll be going into?

                      Or is it the kind of thing where C builds on the knowledge you learn from studying for M and it would be smarter to just study for M?
                      Remember that the syllabus is changing. I'm taking M first.

                      Comment


                      • #12
                        Originally posted by Greg1983
                        Here's a semi related question. I'm not sure whether I'll be going into P&C or Life or whatever (pretty much wherever I find work I suppose!). I was planning on taking M in the fall, but would it be better to take the joinly offered C/4 instead and take M or 3 after when I know for sure what area I'll be going into?

                        Or is it the kind of thing where C builds on the knowledge you learn from studying for M and it would be smarter to just study for M?
                        Greg, that is something I thought about as well when deciding what exam to take after FM last May. After two non-P&C internships, I was becoming more interested in P&C and what it could offer.

                        Originally posted by wat
                        Either way would work. I took Course 4 before taking Course 3, and although I started off at a disadvantage compared to others taking the test with me, I was able to pick up the relevant information from context. While I started at a disadvantage on Course 4, I started off with an advantage on Course 3/Exam M. So, it's whatever you may decide. It's not imperative you take them in order, but it might help.

                        For the record, I did pass that Course 4 I took.
                        I ended up doing the same thing wat did. I had had more in-school material related to C (formerly Course 4) rather than M or CAS 3, so I chose to take C last November rather than take M or CAS 3. I did feel like I was at somewhat of a disadvantage starting out, but I just thought I would have a better chance of passing C rather than M or 3, especially since I would have had to learn all of the life contingencies by myself at a perhaps rushed pace. I also didn't want to risk failing an exam sitting with job interviews on the horizon during my last semester which I'm currently in. Blessedly so, C results were favorable, the job situation has been worked out, and, like wat with M, I have definitely felt at an advantage while studying for CAS 3 this April.

                        However, I didn't have to worry about an upcoming syllabus change, and again, that's something you must at least consider.
                        Last edited by .Godspeed.; March 18 2006, 02:42 PM.
                        act justly. walk humbly. .

                        Comment


                        • #13
                          Originally posted by actually ..? View Post
                          Does anyone know if the 5 hour exam M in 2007 from the SOA will also be convertible to the CAS Exam 3?
                          I emailed CAS directly. There is no word on this yet as a committee is discussing the situation. We will find out in November. However, you will most likely have to pass both parts of M to receive credit.

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