Completed my continuing education requirements last night, listening to a CAS Webcast from the 2010 Casualty Loss Reserve Seminar.
The Casualty Actuarial Society this year started to require members who perform actuarial services to annually attest that they have fulfilled the continuing ed requirements of a major actuarial organization. (Standards differ by country and, in the U.S., within the country.) More here.
The CAS standard, for example, calls for 60 hours spread over two years, including six hours of professionalism.
I had plenty of hours, more than 45. My work takes me to most of the CAS meetings, and I generally hit the June CAGNY meeting. But this year I had only logged 5+ hours of professionalism. And I lost last year’s records.
Through 2009, I logged my hours on my Yahoo account, in a little cranny called Notepad. But for some reason, I never logged 2010 activity. And I lost my record of activity from that year’s CLRS.
I found myself just short of being able to honestly attest to the requirement. It sounds like a lot of people were. Last week’s meeting of the Casualty Actuaries of Greater New York was sold out, I’m told, with lots of people cramming in the last few hours they needed. (I couldn’t go.)
Fortunately for me, attending a meeting lets you view a free webcast at the University of CAS. Unfortunately, the pickin’s are slim for professionalism – only about two or three from the four meetings I’ve attended in the past 14 months. But there was a piece on how to handle difficult situations when rendering an opinion. It was pretty interesting, and got me my credits. Or so I thought.
Most seminar sessions are 90 minutes (1.8 credit hours). But at the end of this one, for some reason, it said I should credit 0.75 CE. This left me at 5.95 hours, or 0.05 credit hours short of the CAS standard.
So I re-reviewed the standard. Turns out the CAS standard is an alternative standard, sort of a backup if you log a lot of hours one year, but not the next. The American Academy of Actuaries has its own standard – 30 hours a year, with three hours of professionalism. And as far as I can tell, you can meet either standard.
I already met the AAA standard, well before I rooted around the University of CAS. But it took me about 15 minutes to figure that out from the various pubs and FAQs I had to sort through. Then I figured what the hell and gave myself 0.25 CE for that time.
So now I meet both standards.