CAS Exam Committee Presents: CAS Exam Committee Presents: CAS EXAMINATION CAS EXAMINATION PROCESS PROCESS Steve Armstrong Steve Armstrong Rajesh Sahasrabuddhe Rajesh Sahasrabuddhe 2011 CAS Annual Meeting 2011 CAS Annual Meeting Chicago, IL Chicago, IL Agenda Agenda � � CAS Admissions Overview CAS Admissions Overview � The Syllabus The Syllabus – – it all starts here it all starts here � � The Prelims � The Prelims – – CAS/SOA joint exams CAS/SOA joint exams � � The Finals The Finals – – Associateship and Fellowship exams Associateship and Fellowship exams � Post Post- -Fellowship Fellowship – – Volunteering Volunteering � 2 CAS Admissions CAS Admissions CAS Board of Directors Vice President – Admissions Syllabus Candidate Liaison Education Policy Exam Committee Committee Committee Committee 3 1
Exam Committee Exam Committee Chair General Officers Liaisons • Administration • Syllabus • Recruiting Committee • Joint Exams 1-2 • Candidate Liaison Committee • Joint Exams 3-4 • Canadian Institute • Spring Exams of Actuaries • Fall Exams • Society of • Grading Sessions Actuaries • Computer Based Testing 4 Exams Exams General Officers Fall/Spring/1-2/3-4 Part Chairs Membership roster as of October 2010 includes Vice Chairs 365+ CAS volunteers Writing Teams Grading Teams Consultants 5 Committee Structure – – Roles Roles Committee Structure (rather abbreviated) (rather abbreviated) � CAS Board of Directors CAS Board of Directors � Provides guidance, direction, policy Provides guidance, direction, policy � VP VP – – Admissions Admissions � Budget management, pass mark approval, Budget management, pass mark approval, final arbiter of disputes final arbiter of disputes � � Exam Committee Chair Exam Committee Chair Manages day Manages day- -to to- -day activities of day activities of committee, communications, appeals committee, communications, appeals 6 2
Committee Structure Committee Structure – – Roles Roles (rather abbreviated) (rather abbreviated) � General Officer General Officer � Senior member responsible for group of exams or Senior member responsible for group of exams or committee process committee process � � Part Chair Part Chair Senior member responsible for construction and Senior member responsible for construction and grading of one exam part grading of one exam part � � Vice Chair Vice Chair Senior member responsible for assisting the Part Senior member responsible for assisting the Part Chair, manages grading program for CAS 5- -9 9 Chair, manages grading program for CAS 5 7 Committee Structure – – Roles Roles Committee Structure (rather abbreviated) (rather abbreviated) � � Consultant Consultant Seasoned member responsible for final Seasoned member responsible for final review of exam draft review of exam draft � Writer Writer � Member responsible for constructing Member responsible for constructing individual questions individual questions � Grader Grader � Member responsible for scoring individual Member responsible for scoring individual test papers test papers 8 Syllabus Committee Syllabus Committee Mission and Organization Mission and Organization � � Mission Mission – The Syllabus Committee determines the The Syllabus Committee determines the scope and content of the syllabus scope and content of the syllabus (learning (learning – objectives and knowledge statements) and course of readings objectives and knowledge statements) and course of readings for the CAS for the CAS Examinations. Examinations. – – The committee also The committee also directs the directs the preparation of educational material preparation of educational material for the for the CAS CAS Syllabus of Basic Education . Syllabus of Basic Education . � � Syllabus Committee Syllabus Committee – Chairperson – Chairperson – – Serves three one Serves three one- -year terms year terms – Vice Chairperson – Vice Chairperson – – Traditionally appointed in the final year of Chairperson Traditionally appointed in the final year of Chairperson’ ’s term and s term and succeeds Chairperson the following term. succeeds Chairperson the following term. – – Senior Part Specialist Senior Part Specialist – – responsible for development and execution of the responsible for development and execution of the Review Plan Review Plan for a specific exam for a specific exam – Part Specialists Part Specialists – – assist the Senior Part Specialist assist the Senior Part Specialist – � Syllabus Committee Collaborators � Syllabus Committee Collaborators – Vice President – Vice President – – Admissions (Liaison): Admissions (Liaison): Conduit to/from leadership Conduit to/from leadership – – Executive Council: Executive Council: delegated authority by Board of Directors delegated authority by Board of Directors – Examination Committee (Liaison) – Examination Committee (Liaison) – CAS Staff Liaison – CAS Staff Liaison – – Editorial Committee Editorial Committee – – Candidate Liaison Committee Candidate Liaison Committee – – Education Policy Committee Education Policy Committee – – Preliminary Examination Education Preliminary Examination Education Curriculum Committee Curriculum Committee 9 3
Syllabus Committee Syllabus Committee Review and Production Cycle Review and Production Cycle � � Review Plan submitted for discussion at Syllabus Committee Meeting ng Review Plan submitted for discussion at Syllabus Committee Meeti � � Execution of Review Plan Execution of Review Plan � � Vote on Changes Vote on Changes � � EC Approval EC Approval � � Memo of Changes Posted Memo of Changes Posted � � Syllabus revisions due to CAS Syllabus revisions due to CAS office office � � Reviews and approvals by SoA SoA, Syllabus Chair, Senior Part Specialists , Syllabus Chair, Senior Part Specialists Reviews and approvals by Syllabus � � CAS � � Syllabus CAS Web Department Web Department � � Syllabus Posted Online Syllabus Posted Online � Study Kits and Updates Available � Study Kits and Updates Available 10 Syllabus Committee Syllabus Committee Review and Production Cycle Review and Production Cycle � � In In- -person Meetings person Meetings – – Previously the Syllabus Committee met three times during a review cycle Previously the Syllabus Committee met three times during a revie w cycle – – Current approach is to meet twice per review cycle (Chicago) Current approach is to meet twice per review cycle (Chicago) � � Review Cycle is intended to provide continual review and improvement with respect to Review Cycle is intended to provide continual review and improve ment with respect to scope and content of the syllabus and course of readings scope and content of the syllabus and course of readings – – Edition updates Edition updates – – New papers (Domestic and International) New papers (Domestic and International) – – New research (e.g., New research (e.g., ERM ERM, , GLM GLM) ) – Current Events (e.g., IFRS, Solvency II) – Current Events (e.g., IFRS, Solvency II) � � New (bifurcated) Review Cycle New (bifurcated) Review Cycle – – Cycle was initially developed to conclude with a printed Syllabu Cycle was initially developed to conclude with a printed Syllabus s – – Spring (Odd) Exams Spring (Odd) Exams » » Review Plan for Spring 2013 Exams approved Fall 2011 Review Plan for Spring 2013 Exams approved Fall 2011 » Review Plan Executed Fall 2011 � � Spring 2012 Spring 2012 » Review Plan Executed Fall 2011 » » Changes for Spring 2013 Exams approved late Spring 2012 Changes for Spring 2013 Exams approved late Spring 2012 11 Syllabus Committee Syllabus Committee Review and Production Cycle Review and Production Cycle � New (bifurcated) Review Cycle New (bifurcated) Review Cycle � – – Fall (Even) Exams Fall (Even) Exams » » We initially attempted to have a separate review cycle for Fall We initially attempted to have a separate review cycle for Fall exams that exams that started in the Spring and concluded in the Fall (reverse of started in the Spring and concluded in the Fall (reverse of Spring cycle) Spring cycle) » Difficult to marshal volunteer resources during the Summer Difficult to marshal volunteer resources during the Summer » » Didn » Didn’ ’t work well with the recruiting cycle t work well with the recruiting cycle » » First Review Plan for Fall 2013 Exams approved Fall 2011 First Review Plan for Fall 2013 Exams approved Fall 2011 � Spring 2012 Review Plan Executed Fall 2011 � » » Review Plan Executed Fall 2011 Spring 2012 » » Changes for Fall 2013 Exams approved late Spring 2012 Changes for Fall 2013 Exams approved late Spring 2012 » Second review to address recent developments recent Second review to address recent developments recent » developments proposed Spring 2012 developments proposed Spring 2012 � Fall 2012 Review Plan Executed Spring 2011 � » » Review Plan Executed Spring 2011 Fall 2012 » » Final changes for Fall 2013 approved in Fall 2012 Final changes for Fall 2013 approved in Fall 2012 12 4
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