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Orangefire31
April 29th 2005, 05:50 PM
I am a college student and studying to be an actuary.

I was hoping someone could tell me what happens if you fail an actuarial exam.

Does your name and score get put on a list somewhere?

When you apply for a job, do they know if you got a really poor score at some point in the past, or do they only know the scores for when you have passed?

Do they even know how many exams you've failed or do they only know how many exams you've passed?

Understanding this process better will greatly help me decide when to begin taking exams. Thanks for your help!
-Adam

wat
April 29th 2005, 06:47 PM
I am a college student and studying to be an actuary.

I was hoping someone could tell me what happens if you fail an actuarial exam.

Does your name and score get put on a list somewhere?

When you apply for a job, do they know if you got a really poor score at some point in the past, or do they only know the scores for when you have passed?

Do they even know how many exams you've failed or do they only know how many exams you've passed?

Understanding this process better will greatly help me decide when to begin taking exams. Thanks for your help!
-Adam

This is a sketchy subject. Different companies treat failing results differently. When first interviewing for a company, they'll try and look at trends in your passing rate. Say you pass Exam P now, but don't get Exam FM until 2008. The company will wonder why, and may even ask you. Did you sit for FM numerous times, or did you not sit until 2008? Why not? Companies can ask how many times you've sat for an exam (it doesn't seem to be asked often, though) or what grades you received on the exam. It will make more of a difference once you get into a company. They will want to know what score you receive on an exam, because it might affect your compensation for taking the exam (getting a 5 might get you reimbursements, while a 0 might get you kicked out of the program).

The vast majority of actuarial students have failed at least one exam. It's more than expected - the average passing rate for the first 4 exams usually falls between 30-45%, depending on the exam. That means, on average, up to 70-75% of students taking an exam fail it.

My advice would be don't worry about failing it - get psyched up to pass it.

FSA
April 29th 2005, 09:42 PM
Does your name and score get put on a list somewhere?

When you apply for a job, do they know if you got a really poor score at some point in the past, or do they only know the scores for when you have passed?

Do they even know how many exams you've failed or do they only know how many exams you've passed?


The only way we know your scores is if you tell us. Scores are not made public. The CAS doesn't even give you a score if you pass... you just get a 'pass'.

There are only two ways we can tell for sure if you failed. The first is you tell us. The second is you already work for us and we know you sat for the exam.

There is not a list of failing exam takers, and scores are not published for the world to see.

As Wat says, though, we will look for consistency and gaps between exam pass dates. If we ask, it is always best to be truthful

Irish Blues
May 7th 2005, 06:16 PM
I was hoping someone could tell me what happens if you fail an actuarial exam.

Does your name and score get put on a list somewhere?

When you apply for a job, do they know if you got a really poor score at some point in the past, or do they only know the scores for when you have passed?


In some companies, they take you out behind the proverbial woodshed and beat you. Then, your name gets scribbled on the bathroom wall, and people who walk by will point and giggle profusely.



But normally, no one else knows except you.

Ken
May 25th 2005, 01:13 AM
In some companies, they take you out behind the proverbial woodshed and beat you. Then, your name gets scribbled on the bathroom wall, and people who walk by will point and giggle profusely.



But normally, no one else knows except you.

It would be nice if the companies framed our 10s though.