I can find a number of people who think UK exams are 'noticably' simpler than those in US.
Yes, there is more specialization in the US system. The general insurance track branches out after the prelims+VEEs, and one would need to take 5 upper level exams to gain a Fellowship credential, as opposed to just 3 in the UK GI track. The exams are administered by the CAS.
You have to pick the field by the time you're done with the prelims and VEEs.
The first statement is not necessarily true. You've forgotten all about the P&C actuaries. As for the number of exams, it depends on how you go about counting it, I suppose.
Best post in this thread.
For life, investments, pensions, and health - Assuming a UK candidate doesn't get exemptions, it is easier to get to Associateship in the US by passing prelims+VEEs+FAP, compared to passing 9 CTs and 3 CAs in the UK system. For fellowship exams, SOA track offers 2 6.5 hours exams, as opposed to 2 STs + 1 SA in the corresponding UK track. A glance at the syllabus and the sheer stamina required to sit through a 6.5 hour exam will tell you that these 2 exams are harder than 2 STs+ 1 SA. You also have 3 Fellowship modules, and a few seminars you need to attend to be granted an FSA designation.
In the end, it all evens out, IMO.
For non-life - A US candidate needs to pass 5 3 hour exams, as opposed to just 3 exams needed in the UK non-life track. It is significantly harder to obtain an FCAS compared to an FIA in the UK general insurance track. You do have 3 CAs , which are harder than the 2 CAS online modules though.
Two days to revise? The real question is: how many hours did you put in to get through the probability part of CT3, under the Indian system? There is no doubt that the questions on Exam P will be harder than the probability questions on CT3. It should also be easy to see that CT3, on the whole, is a harder exam than P, since P covers only half of the CT3 syllabus. If you want to make a fair comparison, syllabus wise, try this:
CT3+CT6 = P+C+VEE Stats.
I hope you reconsider your strategy though. Take exams from one society, and knock them out. The waivers listed on the SOA and IOA don't always make sense, and since the structuring is so different, you wouldn't really learn as much as someone who takes exams offered by just one society.
Best wishes.
Last edited by a moderator: Jan 23, 2012