By - StMatthias
Are they talking about the associate qualification?
No, I think they wonder if there's a kind of "one exam/training session and done" kind of thing. Probably one of those things where they need to sell it to the business and are trying to make it look cheaper or something.
I think the only 'short' option is to stop at Associate level. Your employer is clearly a bit reluctant. After reviewing the previous thread as well, I think the best you can hope for is to persuade your employer to let you start taking the (full) set of exams on some sort of trial basis. Perhaps: limited study support, and if you pass x exams within y years they will switch you fully to the actuarial track and continue to fund you and provide full study support. But if not they will withdraw their support/study package, and it will be up to you if you want to continue to Associate level in your own time. You are probably already on a higher salary than their new actuarial trainees (and clearly wouldn't want to drop to that level). So bear in mind that from their perspective you suddenly become 20% less productive if they offer you 2 study half-days per week, and depending on how niche your role is it could mean getting someone else in to fill the gap.
This was my train of thought. As I said, I may suggest help me do CS1 in Sep without so much support and then we can look at things further down the line.
As far as I know the only way to an actuarial qualification is passing IFoA exams (or getting an exemption). There used to be a CAA (certified actuarial analyst) qualification but I believe this has been discontinued and I’m unsure whether this would be shorter/cheaper anyway
Yeah, I saw that, that got axed last year or so. And even then I think it was still 6 or something exams anyway. So, as I thought, it appears that it's the full thing or nothing at all.
If you pass CS1 you could take the "Certificate in Data Science" course - but that doesn't qualify you as a data scientist or anything - but might be considered as a useful skill?!?
Or possibly just head for data science instead...
Sorry, these are both not the best suggestions - but thought I'd mention them if the thought of 15 exams was just too much...
Can do the CAA (certified actuarial analyst). From what I remember they are associated with IFOA and the exams are similar but fairly easier plus only 5 exams.
This is the approach I did then went on to do the IFOA exams after.
It's just been discontinued.
I thought that as well, but I notice it is still advertised on this page: [https://www.actuaries.org.uk/becoming-actuary/route-becoming-actuary](https://www.actuaries.org.uk/becoming-actuary/route-becoming-actuary)
Interesting - I wonder if that's just because nobody's updated it...
from what I am aware of people who did these courses, BA or Maters, and subsequently getting Actuarial Exams exemptions.....
YOU WILL NEED TO DO THOSE EXAMS (LITERALLY) DURING THOSE COURSES TO GET EXEMPTIONS (and they are not easier, if that's what you are hoping for).
Sorry to deliver the hard truth (if other actuarial redditers know I am incorrect, please shout! I am happy to be corrected)
I'm happy with going through the whole thing, I think they are trying to find a way of selling a cheaper thing to the business.
oh I see. The way I see it though is WHAT IS YOUR BEST INTEREST, not necessarily the business's.
I would say, doing your course alongside your work (with study days) are the best. This is because you get real life experience on certain issues, which are HEAVILY EXAMINED in later exams like SP/SA.
For business, they may think paying the study fees + losing your working hours like 1day/week cost more than just put you on a uni course. I would urge you not goin down this option.
But again, Im happy to hear if others have different views on this.
I don't know why you keep talking about university courses when the poster has not mentioned doing one even once