Certified Actuarial Analyst - continued

This is just an update to my previous post where I talked about the launch of a new qualification by the IFoA. The registration for this course is now open, and the last date for registering online is 18th July 2014. The first set of exams will be held between 4th - 15th August 2014.

The first Module launched by the IFoA as a part of this qualification is Module 0 - Entry Exam. This is a compulsory exam for those who wish t pursue the CAA qualification and those who successfully pass this exam can apply to the Institute for the Student Actuarial Analyst membership (SAA).

I am really very excited about this course because I think such a course has been long due and I can only imagine the vast number of students who could potentially benefit from it. I have already set up a facebook page titled CAA Coaching (and Aspiring Actuaries) and trying to build up a website to provide students with a set of questions to practice from. I am lucky to have found a friend in India who is very passionate about this course as well and together we have decided to provide free practice questions to students all over the world to practice for free.

I believe that there would be a large number of students who would be not in a position to pay the fees at the official rates of recommended providers. But I am only beginning to work on it, and let us see how economical the entire idea is. My friend and I have a feeling that it might not be feasible to provide this completely free of charge to account for the administrative part of it...but we have to start somewhere!

I will keep you all posted!

Disclaimer: All the above information relating to CAA course has been obtained from www.actuaries.org, and while every effort has been made to ensue accuracy of information, no liability whatsoever is taken for relying on the above information. This web-page is not endorsed by any actuarial society, including IFoA and IAI. 

Article in Indian Actuarial magazine!

My first article in the Indian Actuary magazine!!

http://actuariesindia.org/downloads/souvenir/2014/ActuaryIndiaMay2014.pdf

Certified Actuarial Analyst

The Actuarial profession has launched a new qualification called the Certified Actuarial Analyst. I was luckily one of the first ones to know about this while it was still not launched as I helped the Institute prepare questions for two of its modules. I find this course very exciting, not only because it is a new actuarial qualification, but because I can easily relate to a large number of actuarial candidates back in India who have been struggling to complete the actuarial qualification.

There is a whole lot of actuarial candidates in India who have the technical and professional skills to work in actuarial roles, but they have, for one reason or the other, not been so successful with their FIA exams. This qualification provides them with a ray of hope in the sense of getting a recognition world-wide that they are the not just part-qualified actuaries, but Certified Actuarial Analysts! Nobody likes being half-qualified for a long period of time. Specially when there are constraints on the study time one can get in an Indian work-life setup.

As the Institute and Faculty of Actuaries define it on their website 'The Certified Actuarial Analyst is a new qualification and membership category from the Institute and Faculty of Actuaries (IFoA), providing an internationally recognised professional qualification, proven technical and professional skills and a gateway to a career in financial services.'

This very aptly summarises this course. It consists of a set of 5 + 1 modules. The first 5 modules are tested through online multiple choice questions, whereas the 6th module called OPAT - Online Professional Awareness Test is already a course mandatory for students who have joined the Institute after 1st March 2014. Further details about the course can be found at http://www.actuaries.org.uk/becoming-actuary/pages/exam-preparation.

I think this course is very timely and will help plug in a huge gap between supply and demand, so we should all welcome this with open arms! I will keep this page updated with the latest...so watch this space!