What does it take to be an ASA

Loli was amazed that people in the actuarial profession have to keep studying and taking exams after college. Most of my friends don't really understand the process of getting the qualification. So let me make a checklist here:

What does it take to be an ASA (Associate of the Society of Actuaries):

1. Pre-requisite: Calculus, Linear Algebra, Business Law 101, Intro to Accounting and Math Statistics. (Most people have taken these classes in college. The SOA exams don't test you on these things directly, but it's good to have some background knowledge.) (Check!)

2. Preliminary Exams - P, FM, MLC, MFE, C (Check!)

3. 3 VEE (Validation by Educational Experience in Applied Statistical Methods, Corporate Finance, and Economics.) - In order to get the credit in college, you need to get a 'B' or above in those particular classes. (Check!)

4. 8 FAP Modules (Fundamentals of Actuarial Practice) - (Studying in Progress)

5. FAP Exam 1 (testing material from FAP Modules 1-5) -(Going to take it on 12/12/2007)

6. FAP Final Assessments (testing material from FAP Modules 6-8)- (Early next year , hopefully)

7. Associateship Professionalism Course (APC) -(Early next year, hopefully)

It sounds like a lot of work, doesn't it? Probably everything that's worth doing, it takes hard work. And you don't just find a pot of gold at the end of this rainbow, you do find some gold coins along the way too. (i.e. pay raise for passing the exams) :)


Loli said...

If you get to the end of this rainbow, you will be that pot of gold--- gold plated Jade!