Something that concerns all of us - foreign entry

I work for a large multinational in Germany while studying for the exams - over here the German exams are largely mathemathical - and a lot easier to pass - usually the guys start studying about 4 weeks out from the exams. What concerns me is that all they have to do to gain an FIA is to work for a year in the UK. Surely they should at least be asked to sit and pass one SA exam ? Otherwise the fastest and easiest route to an FIA is no longer through sitting the FIA exams. Please help.

 

The only way this will change is if UK students start sitting German exams.

 

you learn German if you want to

If you can learn German to such a high standard in order to understand the examination questions and pass the examinations by producing answers in German, plus get the trust of British employers and clients, you deserve to pass sooner.
Similarly, if you can pass the Chinese language communications examination as well as qualify as an FIA/FFA you also deserve praise.

 

MOst of the examination material is purely mathemathical - I know of an English lady at Gerling in Frankfurt who did exactly this - failed some (early) English exams , switched codes and completed her German exams INSIDE 4 years. Language competence should only be a small part of actuarial competency surely ?
In the past the Institute allowed for exemptions on a case by case basis. Surely this is far more appropriate?

 

Agreed that exemptions should be on a case by case basis but I bed to differ on the point about the language competence. Language compentence should play a large part of actuarial competency. Doing the technical work is one thing, but the other thing is communicating your results (surely language competence should play a large part for this) - complex results need to be explained in simple terms, and that is one of the largest challenges facing actuaries working in the industry.

 

German isn't difficult to learn. Anyone who got a C or better at GCSE could probably handle the language barrier in an exam.

I don't think the current German actuarial system does German actuaries any favours either as they may be percieved as a bit of a joke by their international colleagues. Which would be a shame as I expect that many German actuaries are just as good as their international equivalents (although may be there are some who aren't - due to easier exams not eliminating the average from the above-average).

Was that too much?

 

I'm an international student studying in the UK. I think UK exams are far more testing and worthwhile passing. I don't think it is about passing the easiest exams.... It is more beneficial to pass a tough exam because then you can call yourself a real passer.

 

Rather than studying German, it may be easier to switch to SoA exams. FSA is internationally recognised.

 

hmmm from my experience german actuaries are lightyears ahead of their english counterparts in technical matters. you should check out the complexity of their DFA models...puts us to shame.

 

No doubt you are correct - Thomas Mack is more or less the standard here - and the exams do emphasise much more the technical aspects - but the point remains - they are far far far easier to pass - having a set number of marks to achieve (round about 40% I think) as well as not bothering with the later types of exams we have to go through - ST/SA type topics.

 

yep the germans are far more sensible - they concentrate on the technical aspects and learn the "soft subjects" on the job. we should learn by example!!!