Upcoming Changes to SOA Preliminary Exams

During the 2012 ARC Stuart Klugman from the SOA outlined some upcoming changes to the preliminary exams.  The details have not been finalized but we can expect to see the following changes in 2013.

• Exam P will remain unchanged
• For Exams FM and MFE, the syllabi will be updated to include the 3rd edition of the McDonald text which is due out this fall.  
• For Exam MLC, the addition of written answer questions is being considered.  Conversion of MLC to CBT is being placed on hold until this decision has been made. 
• For Exam C, a fourth edition of the Loss Models text will be released shortly.  This edition will see the removal of much of the material not on the exam syllabus, and expanded material on simulation and mortality table construction.

Note that no changes will be made for the Fall 2012 exams.  Changes to FM, MFE and C could be made for the Spring 2013 sitting,  depending on the timing of new texts.  In addition, where there is a new text edition it is likely that there will be a transition sitting for which students can use either the old or new edition.  The change to have written answer questions on MLC will not be made until 2014 (if at all).

On the subject of MLC, there was a session with a lively discussion of the Spring 2012 exam which had an unusually low pass mark and an unusually low pass rate.   Stuart indicated that this exam was much harder than the exam committee had intended, and that the Fall exam results were expected to return to normal.  He indicated that there is often a learning curve for both the exam setters and the students when there is a major change in text book.  Stuart also confirmed that either of the two text books listed for MLC would give a student the background needed to pass the exam. 

2012 Actuarial Research Conference - Winnipeg

I was in Winnipeg on August 1-4 for the Actuarial Research Conference.  It was a great programme that filled 2 1/2 days (the abstracts can be found at ARC Program).  Apart from the talks and presentations, highlights included:

• Catching up with our U of R interns and alum at Great West Life (GWL).  Shelby Herman and Lauren Mazurkewitz have just started their 16 month internship in May of 2012 and they seem to be settling in well and having a great experience with GWL.  Kali Spencer is a 2010 U of R GRad and recent ASA/ACIA who has followed up a GWL internship with a full time job on graduation.
• A dinner on Thursday night celebrating the 100th anniversary of the Actuarial Program at University of Manitoba (at U of R we still have 88 years to go).  This was linked to the conference and held at U of M, but there were a lot of local actuaries from Winnipeg, including Shelby and Lauren who went as part of the GWL contingent.
• A dinner at the Manitoba Club featuring very good entertainment in the form of jazz croonings from Sam Broverman (head of the Actuarial program at U of T).  I particularly enjoyed his take on "Accentuate the Positive" with new lyrics to fit the CIA's accreditation policy.
• Catching up an net working with academic actuaries from across the US and Canada.

Death of Evidence Rally

I should have posted this much earlier, but better late than never.  I'll be attending the Regina
Death of Evidence Rally to protest Mr. Harper's policy towards science research (you have no idea how much restraint I've shown in this sentence).  Of particular concern to actuaries are

1. The cancellation of the mandatory long form census form, which invalidated the entire long form census.  This was nothing short of petty ideology aimed at satisfying a very small minority of right wing conservative faithful (check Stats Can's figures on how many complains have been received on the long form).  I am a member of no less than 3 groups who wrote to the Harper government decrying this move (the CIA, CAUT and the U of R).
2. Budget cuts (more precisely a gutting) of Stats Canada.

Alumni Achievements

While I was at the CIA's annual meeting in Toronto June 21-22nd, I ran into several U of R ActSci Alumni, three of whom were hitting actuarial milestones.  Paul Gobeil (class of 2008) received his FCIA during the meeting.

In addition, Derek Beatch and Kali Spencer (both class of 2010) were not at the CIA meeting but were attending an Associate Professionalism Course held at the same hotel.  This means that they should both become ASAs and ACIAs shortly.

Congratulations to all three.

Congratulations to Ha Lam - Double Award Winner

The Governor General's Academic Silver Medal is awarded to the undergraduate student who achieves the highest academic standing in a bachelor's degree program. The recipient is Ha Lam, who is also this year's winner of the University Prize in Science. She is graduating with a Bachelor of Science degree in Actuarial Science, with Internship designation and achieving Great Distinction with cumulative grade point average above 93 per cent.

Congratulations to our June 2012 Grads

This Thursday marks convocation for 9 graduates with degrees in Actuarial Science.  The 9 grads are

Steven Buchan
Chi Bui
Worthy Chinenyanga
Kadan Kelly
Ha Lam
Nimco Moumin
Sasha Parsons
Sarah Shoulak; and
Carlos Vargas.

Congratulations to all of our 2012 grads and good luck with your future endeavours.

Recent Hires at AON Hewitt

We had a visit from AON Hewitt earlier this week, as Troy Milnthorp (Saskatoon) and Don Ireland (Calgary) are the actuaries for the University's pension plans.  AON Hewitt have recently hired 5 new actuarial staff, 4 of them U of R grads.  The Saskatoon office hired Steven Buchan, Nimco Moumin (both 2012 grads) and Tammy Johnson (a 2008 grad) while Kadan Kelly (another 2012 grad) has started in the Calgary office.  Congratulation to all four!