Path to Become an Actuary – CAS

In general, CAS has a similar preliminary exam structures as SOA. Candidates are required to complete the following three VEE subjects:

• VEE – Applied Statistical Methods
• VEE – Corporate Finance
• VEE – Economics

Credit for VEE can be obtained through various courses completed from colleges or other education programs. 

There are 2 online courses to be taken.

• Online Course 1 – Risk Management and Insurance Operations (same as I&FA CA1)
• Online Course 2 – Insurance Accounting, Coverage Analysis, Insurance Law, and Insurance Regulation (same as I&FA CA2)

There are 9 exams to be taken with the first four (Exams 1, 2, 3 and 4) being equivalent to the first part of the SOA exam structure.

• Exam 1 Probability (same as SOA Exam P)
• Exam 2 Financial Mathematics (same as SOA Exam FM)
• Exam 3F Models for Financial Economics (same as SOA Exam MFE)
• Exam 3L Models for Life Contingencies and Statistics (same as SOA Exam MLC)
• Exam 4 Construction and Evaluation of Actuarial Models (same as SOA Exam C)

At this point, students interested in Life Insurance can opt to continue with the SOA path.

• Exam 5 Basic Techniques for Ratemaking and Estimating Claim Liabilities
• Exam 6 Regulation and Financial Reporting (Nation-Specific)
  • Actuarial Institute of Chinese Taipei
  • Canada
  • United States

Course on Professionalism – A two-day course to present candidates with real situations that contain ethical and professionalism issues for an actuary. Candidate must have finished either

• 4 actuarial exams AND any 4 out of the 2 online courses and 3 VEE subjects; or
• any 5 actuarial exams

Upon completion of all the above requirements, candidate will be admitted as an Associate of the Casualty Actuarial Society (ACAS).

• Exam 7 Estimation of Policy Liabilities, Insurance Company Valuation and ERM
• Exam 8 Advanced Ratemaking
• Exam 9 Financial Risk and Rate of Return

Upon completion of the Associateship requirements and the above three exams, the candidate will be admitted as a Fellow of the Casualty Actuarial Society (FCAS).

Sources from Actuarial Society of Malaysia

Events in 2013 and early 2014

In the year 2013, SUAS had organized a lot of events that is beneficial to our members.

1) On 4th October 2013, a Mathematics Quiz was organized by SUAS.

Beginning of the math's quiz.

Some participants are able to score full marks for the quiz.

Distribution of gift to winners by the president, Emelyn Lee(2013).

Distribution of gift to winners by the president, Emelyn Lee(2013).

2) SUAS had organized a trip to Bank Negara Malaysia on 12th November 2013 for all the members.

    

    Besides, SUAS members are invited to talks and seminars that are related to actuarial studies. All the speakers were from various department and background, sharing their various experiences working in the actuarial field.

Below are the pictures of the talks and seminars in year 2013.

On 19th June 2013,"Actuary – A Dream Come True?"
by Mr Liew Pek Hin, FSA, Deputy General Manager, Actuarial & Financial, 

Malaysian Life Reinsurance Group Berhad.

On 26th June 2013, "Let Your Horse Come"

by Ms Wong Lei Lei, Director of Marketing, Sunway University.

On 29th August 2013, "The Challengers of Becoming An Actuary in Asia "

by Mr Seow Fan Cheong.

On 18th September 2013, "Takaful Insurance- Opportunities & Challenges "

by  Mr Tan Chue Chau, FSA, FASM.

On 21st February 2014,"Actuarial Science in Treasury and Risk Management"

by Mr Hor Kwok Wai, COO, Global Markets, Hong Leong Bank.

Committee Member 2013

SUAS COMMITTEE MEMBER LIST 2013

PRESIDENT
Emelyn Lee Pey Wei

VICE PRESIDENT
Hazel Hiew Rue Yi
Tan Kok Sheng

SECRETARY
Eng Fwu Huey

TREASURER
Tan Chong Yew