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Construction and Evaluation of Actuarial Models: 2005: Course 4 2017: Exam STAM M: Actuarial Models: 2005: Course 3 2006: Exams MFE and MLC 1: Mathematical Foundations of Actuarial Science: 2000: Education system redesign 2005: Exam P and VEE 2: Interest Theory, Economics and Finance: 2000: Education system redesign 2005: Exam FM and VEE 3 ...
The CAS requires all candidates to qualify through a series of actuarial exams covering various aspects of actuarial practice. Passing Exams 1–6 as well as Exam S, the Course on Professionalism, the Validation by Educational Experience (VEE), and two online courses qualifies an actuary for the Associateship designation; passing three additional exams is required to become a Fellow. [10]
Another example is the use of actuarial models to assess the risk of sex offense recidivism. Actuarial models and associated tables, such as the MnSOST-R, Static-99, and SORAG, have been used since the late 1990s to determine the likelihood that a sex offender will re-offend and thus whether he or she should be institutionalized or set free. [9]
Note that Course 7 (Applied Actuarial Modeling), Course 8 (Advanced Specialized Actuarial Practice), and PD were part of the fellowship requirement. In 2007, the Fundamentals of Actuarial Practice (FAP) were introduced to cover real-world topics such as insurance and professionalism with readings, case studies, and projects. [ 14 ]
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By September 2004, 900 MIT courses were available online. In 2005, MIT OpenCourseWare and other open educational resources projects formed the OpenCourseWare Consortium, which seeks to extend the reach and impact of open course materials, foster new open course materials and develop sustainable models for open course material publication.
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An actuarial qualification from the Institute and Faculty of Actuaries consists of a combination of the completion of various examinations and courses. The examinations are split into six sections: Core Mathematics (CM), Core Statistics (CS), Core Business (CB), Core Practice (CP), Specialist Practice (SP), and Specialist Applications (SA).
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