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Thread: CFA overkill for VEE credit?

  1. #1
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    CFA overkill for VEE credit?

    So I'm going to be graduating in December and I'm preparing for the P in July and the FM in August. I don't think it's in my best interests to take college classes to meet the VEE requirements, I'm tired of school. I know there are other ways for credit such as Actex classes for 2 of them but taking the first 2 CFA exams knocks out all 3 VEE credits but is that overkill in order to get the credits?

    I was reading that a lot of FSAs have their CFA credential and that sometimes their line of work falls in line with both or it makes it easier for them to switch roles in a company if needed.

    It's still too early for me to tell whether I'll go for my FSA or FCAS but overall would pursuing a CFA be beneficial?

  2. #2
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    Unless you know you for sure that you are interested in an investment related actuarial role, taking the CFA for VEE credits is definitely overkill. At this early stage of your career, it is best to just focus on the actuarial exams. If later on you then decide that the investment actuarial lines are what you would like to focus on, you can always do you CFA then, after attaining your Associate level actuarial desig.

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    I'm also taking the CFA's to get my VEE. I don't have any VEE credits from college, so I am anxious to get the things done and gone.

    I agree that it's overkill since it definitely tests a broad range of topics most actuaries won't need, but they're not so hard and they're kind of fun to study. The jargon is entertaining. They're quite a relief in comparison to actuarial exams.

    And I'm an exam man. I'm with Vision on that - enough of school! No more classes - I hated them then and I'd still hate them now. Exams are full of sex, while classes and modules just drain the life out of me hearing about them - yuck!

  4. #4
    Actuary.com - Level V Poster sohpmalvin's Avatar
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    Quote Originally Posted by Vision View Post
    I don't think it's in my best interests to take college classes to meet the VEE requirements, I'm tired of school.
    Quote Originally Posted by alekhine4149 View Post
    enough of school! No more classes - I hated them then and I'd still hate them now. Exams are full of sex, while classes and modules just drain the life out of me hearing about them - yuck!
    I agree, I agree!
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    Quote Originally Posted by Khadada
    Unless you know you for sure that you are interested in an investment related actuarial role, taking the CFA for VEE credits is definitely overkill. At this early stage of your career, it is best to just focus on the actuarial exams. If later on you then decide that the investment actuarial lines are what you would like to focus on, you can always do you CFA then, after attaining your Associate level actuarial desig.
    I agree strongly with Khadada.

    Unless you have an ulterior motive and/or a future purpose for taking the CFA exams, then it's most definitely overkill. Additionally, and I might be mistaken, aren't CFA exams comparatively [perhaps prohibitively] expensive?!



    From what I've read, if you don't already have college credit, the path of least resistance seems to be:

    Economics--CLEP exams for both macro and micro (cake)

    Finance--CPCU 540 (if you're P&C) or NEAS (if you're SOA).

    Statistics--Actex online course.
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    Finance VEE credit differs for CAS vs. SOA (I assume that's what you meant by P&C?). I would take NEAS for any that it's available for.

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    Quibbles...

    Well, yeah, CAS... I said P&C, because the PC in 'CPCU' stands for property&casualty.

    FWIW, I don't think the VEE Finance is different for CAS vs. SOA... it might be. I don't really know. [I only mentioned the CPCU class for CAS because it is slanted toward P&C and that's how it was recommended to me.]
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    Quote Originally Posted by WILLEL2338 View Post
    I agree strongly with Khadada.

    Unless you have an ulterior motive and/or a future purpose for taking the CFA exams, then it's most definitely overkill. Additionally, and I might be mistaken, aren't CFA exams comparatively [perhaps prohibitively] expensive?!



    From what I've read, if you don't already have college credit, the path of least resistance seems to be:

    Economics--CLEP exams for both macro and micro (cake)

    Finance--CPCU 540 (if you're P&C) or NEAS (if you're SOA).

    Statistics--Actex online course.
    I'm really glad you brought this up. I didn't take the VEE requirements while pursuing my undergrad degree, so I have to do so now. The NEAS class offered through the same people that do the Actuarial Bookstore seem very reasonable in terms of cost ($295 for the first, $245 for the second, then $195 for each additional) and time (2 months/class), but I don't really know what the alternatives are. I thought that you couldn't take CLEP tests if you had taken any actual college classes. Is that not true anymore?

    I'd really love to hear what everyone's recommendations are on this. I don't want to enroll in traditional college classes, and it's been my experience that going through something like University of Phoenix online is prohibitively expensive

  9. #9
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    As it was explained to me, you can take CLEP exams if you've already been to college, but you can't take them for a course you've already attempted or a course for which you already have credit.
    Last edited by WILLEL2338; November 29th 2009 at 02:15 PM.
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