Exam Dates

Computer-Based Testing for Exam 1/P*

	LOCATION	EXAM DATE(S)	DURATION	START TIME	FINISH TIME	REGISTRATION DEADLINE
Winter Test Window	Canada and U.S.	February 20-23, 2007	3 Hours	Various	Various	December 21, 2006
	All other countries	February 20-22, 2007	3 Hours	Various	Various	December 21, 2006
	Limited paper/pencil sites	February 20, 2007	3 Hours	8:30 a.m.	11:30 a.m.	December 21, 2006
Spring Test Window	Canada and U.S.	May 14-17, 2007	3 Hours	Various	Various	March 22, 2007
	All other countries	May 15-17, 2007	3 Hours	Various	Various	March 22, 2007
	Limited paper/pencil sites	May 15, 2007	3 Hours	8:30 a.m.	11:30 a.m.	March 22, 2007
Summer Test Window	Canada and U.S.	August 21-24, 2007	3 Hours	Various	Various	June 28, 2007
	All other countries	August 21-23, 2007	3 Hours	Various	Various	June 28, 2007
	Limited paper/pencil sites	August 21, 2007	3 Hours	8:30 a.m.	11:30 a.m.	June 28, 2007
Fall Test Window	Canada and U.S.	Nov. 26 - Dec. 2, 2007	3 Hours	Various	Various	October 4, 2007
	All other countries	Nov. 26 - Dec. 2, 2007	3 Hours	Various	Various	October 4, 2007
	Limited pencil/paper sites	November 27, 2007	3 Hours	8:30 a.m.	11:30 a.m.	October 4, 2007

Spring 2007 Exams

EXAM	EXAM DATE	ZONE	DURATION	START TIME	FINISH TIME	REGISTRATION DEADLINE
Exam 2/FM	May 25, 2007	All time zones	2.5 hours	8:30 a.m.	11:00 a.m.	April 2, 2007
Exam 3	April 25, 2007	North and South America	4 Hours	9:30 a.m.	1:45 p.m.*	March 15, 2007
	April 25, 2007	Europe, Africa, Asia, Australia	4 Hours	1:00 p.m.	5:15 p.m.*	March 15, 2007
Exam 4/C	May 16, 2007	All time zones	4 Hours	8:30 a.m.	12:30 p.m.	April 2, 2007
Exam 5	April 27, 2007	North and South America	4 Hours	9:30 a.m.	1:45 p.m.*	March 15, 2007
	April 27, 2007	Europe, Africa, Asia, Australia	4 Hours	1:00 p.m.	5:15 p.m.*	March 15, 2007
Exam 7	April 24, 2007	North and South America	4 Hours	9:30 a.m.	1:45 p.m.*	March 15, 2007
	April 24, 2007	Europe, Africa, Asia, Australia	4 Hours	1:00 p.m.	5:15 p.m.*	March 15, 2007
Exam 8	April 26, 2007	North and South America	4 Hours	9:30 a.m.	1:45 p.m.*	March 15, 2007
	April 26, 2007	Europe, Africa, Asia, Australia	4 Hours	1:00 p.m.	5:15 p.m.*	March 15, 2007

*See note on finish times below.

Summer 2007 Transitional VEE Exams

TRANSITIONAL VEE EXAM	EXAM DATE	ZONE	DURATION	START TIME	FINISH TIME	REGISTRATION DEADLINE
VEE-Economics	August 8, 2007	All time zones	1.5 Hours	9:30 a.m.	11:10 a.m.*	June 28, 2007
VEE-Corporate Finance	August 8, 2007	All time zones	1.5 Hours	12:30 p.m.	2:10 p.m.*	June 28, 2007
VEE-Applied Statistical Methods	August 8, 2007	All time zones	1.5 Hours	3:30 p.m.	5:10 p.m.*	June 28, 2007

*See note on finish times below.

Fall 2007 Exams

EXAM	EXAM DATE	ZONE	DURATION	START TIME	FINISH TIME	REGISTRATION DEADLINE
Exam 2/FM	November 7, 2007	All time zones	2.5 Hours	8:30 a.m.	11:00 a.m.*	September 24, 2007
Exam 3	October 30, 2007	North and South America	4 Hours	9:30 a.m.	1:45 p.m.*	September 20, 2007
	October 30, 2007	Europe, Africa, Asia, Australia	4 Hours	1:00 p.m.	5:15 p.m.*	September 20, 2007
Exam 4/C	November 5, 2007	All time zones	4 Hours	8:30 a.m.	12:30 p.m.	September 24, 2007
Exam 6	October 31, 2007	North and South America	4 Hours	9:30 a.m.	1:45 p.m.*	September 20, 2007
	October 31, 2007	Europe, Africa, Asia, Australia	4 Hours	1:00 p.m.	5:15 p.m.*	September 20, 2007
Exam 9	November 1, 2007	North and South America	4 Hours	9:30 a.m.	1:45 p.m.*	September 20, 2007
	November 1, 2007	Europe, Africa, Asia, Australia	4 Hours	1:00 p.m.	5:15 p.m.*	September 20, 2007

*See note on finish times below

NOTES

• Starting times for examinations refer to the local time for the specified zone.
• Candidates should arrive one hour before the scheduled exam time. The proctor will begin giving the instructions 45 minutes prior to the scheduled exam time.
• Finish times for CAS Exams 3, and 5-9 include a 15-minute reading period prior to the timed start of the exams (see "Duration" above); a 10-minute reading period is included for the Transitional VEE Exams.
• Updated information for Exams 1/P, 2/FM, and 4/C that are jointly administered by the Casualty Actuarial Society and the Society of Actuaries may be obtained from the CAS [(703) 276-3100] or the SOA [www.soa.org or (847) 706-3500].

Actuarial Examinations

About Actuarial Examinations

Actuaries in the U.S. and Canada achieve professional status by passing a set of examinations prescribed by the Casualty Actuarial Society (CAS) or Society of Actuaries (SOA). Examinations are held twice each year in the Spring and Fall at various cities in the United States, Canada, and other countries around the world. Exams 1/P, 2/FM, and 4/C are jointly administered by the CAS and SOA.

Many prospective actuaries begin taking exams while in college with the aid of self-study courses jointly offered by the CAS and SOA. Most achieve Associateship in three to five years. All students acquire a core set of knowledge from required courses before following the CAS or SOA career path. A student's selection to pursue the SOA or CAS career path is frequently influenced by personal interest, set of skills, and acceptance of a particular entry-level job.

The Society of Actuaries offers required and elective self-study courses. Prospective actuaries must earn credits from several course exams to become an Associate. In the Casualty Actuarial Society, successful completion of Exams 1/P through 7, and attendance at the CAS Course on Professionalism, satisfy the membership requirements as an Associate.

After achieving Associateship status and usually after gaining a few years of work experience, most actuaries complete the Fellowship exams. SOA candidates choose one of five specialty tracks: group and health benefits, individual life and annuity, pensions, investments, or finance. Fellowship candidates will also fulfill 50 hours of Professional Development activities.

To achieve Fellowship in the Casualty Actuarial Society, candidates must complete an additional two exams covering such topics as investments, financial analysis, advanced ratemaking, and individual risk rating plans. In summary, satisfactory completion of all nine Exams is required for CAS Fellowship, the highest mark of distinction a CAS member can achieve.

Unlike other professions, such as law and medicine, in the actuarial profession you can earn while you learn. Many students receive on-the-job training while enrolled in the examination process. Employers are generally supportive and may give students study time during working hours, pay exam fees, and award raises for each exam passed. However, most employers prefer to hire people who have started the series of examinations on their own and have already passed at least two or three.

Many insurance companies and consulting firms have summer or part-time jobs for actuarial students.

Be an Actuary

Top 10 Reasons to Consider Being an Actuary

1. You want a highly competitive salary and excellent benefits.
2. You are self-motivated, goal oriented, and have superior math aptitude and communication skills.
3. You want to be able to choose among outstanding job offers.
4. You would like to "earn while you learn".
5. You want a career with superior job security through economic cycles.
6. You want a career with many opportunities that will provide you with skills that are transferrable across multiple industries.
7. You want a career that you control because advancement is merit-based.
8. You want a career that is dynamic and challenging.
9. You want a professional title, but don’t want to be a doctor, lawyer, or accountant.
10. You don’t want to go to graduate school.

What is Actuary?

Actuaries are experts in:

• evaluating the likelihood of future events,
• designing creative ways to reduce the likelihood of undesirable events,
• decreasing the impact of undesirable events that do occur.

Actuaries are the leading professionals in finding ways to manage risk. It takes a combination of strong analytical skills, business knowledge and understanding of human behavior to design and manage programs that control risk.

The actuarial profession has consistently been rated as one of the top five jobs in the United States according to Jobs Rated Almanac. Actuaries are the analytical backbone of our society's financial security programs.

How do actuaries manage risk?

Here are a few examples:

1. Would as many people be willing to own a home if fire insurance did not exist?
2. Would a company build a factory that could be destroyed in an earthquake if it were not protected by insurance?
3. Would people spend money today and still be confident about their future if there were no retirement programs or social security?
4. Would the cars people drive be safe if the parts were not rigorously tested to last for many years using mathematical techniques actuaries routinely use?
5. Would parents enjoy risky and adventurous recreational activities such as rock climbing or skiing if their children faced financial disaster in the event of an accident?
6. Would the banks (and the money deposited in them) be safe if their assets and liabilities were not carefully managed to control financial risk?
7. Would the returns on our investments be high if financial institutions such as mutual funds, banks, and insurance companies did not use sophisticated techniques to improve returns without increasing risk too much?

Where do actuaries manage risk?

Actuaries work in all sectors of the economy, though they are more heavily represented in the financial services sector, including insurance companies, commercial banks, investment banks and retirement funds. They are employed by corporations as well as the state and federal government. Many work for consulting firms. Some are self-employed, enjoying financially rewarding careers that also come with the great flexibility of being one's own boss.