Evaluation & Credentialing Process Flashcards
7 cards from real CAS practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Evaluation & Credentialing Process flashcards as text
Which of the following best describes the role of the CAS Examination Committee?
Answer: Developing exam questions, maintaining the syllabus, and overseeing exam administration
The Examination Committee is responsible for creating and maintaining exam content and overseeing the administration process.
A candidate who earns ACAS status and then fails to complete Fellowship requirements within the required timeframe may face which outcome?
Answer: No consequence; ACAS is a permanent credential
ACAS is a permanent credential; there is no time limit imposed by CAS requiring completion of FCAS after earning ACAS.
The CAS requires candidates to complete the Course on Professionalism (COP) as part of Fellowship requirements. When must this be completed?
Answer: Before the candidate can be admitted as FCAS
The Course on Professionalism must be completed before a candidate is admitted to Fellowship (FCAS).
What does 'exam sitting' refer to in the context of CAS credentialing?
Answer: A scheduled administration window during which a specific exam is offered
An exam sitting refers to the scheduled period during which candidates may take a particular CAS exam.
Which organization co-administers the preliminary actuarial exams jointly with CAS?
Answer: Society of Actuaries (SOA)
CAS and SOA jointly administer the preliminary exams (Exams P, FM, and others), which are shared requirements for both credential pathways.
Under the CAS Code of Professional Conduct, a credentialed actuary who discovers a material error in work they previously signed off on is required to:
Answer: Notify the principal and take appropriate corrective action
Actuaries must promptly notify the appropriate principal and take steps to correct material errors in previously issued work.
Which of the following is NOT a VEE-approved topic area required for CAS Fellowship?
Answer: Actuarial Mathematics
The three VEE topics are Economics, Applied Statistical Methods, and Corporate Finance; Actuarial Mathematics is covered through the exam syllabus, not VEE.