Exam PA: Predictive Analytics
The PA Exam is administered as a five-hour and 15-minute project requiring analysis of a data set in the context of a business problem and submission of a report.
The syllabus for Exam PA provides candidates with the ability to employ selected analytic techniques to solve business problems and effectively communicate the solution. A thorough knowledge of probability (as covered in Exam P), mathematical statistics (as covered in VEE Mathematical Statistics), selected models and methods for analyzing data (as covered in Exam SRM) is assumed. Credit for Exam SRM is required for PA exam registration.
The Predictive Analytics Exam has three components.
- To sit for the PA Exam, candidates must have credit for the Statistics for Risk Modeling (SRM) Exam. This credit may be earned either by passing the exam or via transition credit. SRM is a multiple-choice CBT exam offered in September 2018 and then every four months thereafter.
- While candidates who have transition credit for SRM will be eligible to sit for the PA Exam, note that the exam designers will be assuming that candidates have full knowledge of the SRM syllabus.
- The PA e-Learning modules provide support designed to enhance candidates’ studies from the SRM Exam and to clarify the SOA’s expectations regarding a successful PA Exam submission.
- To register for and begin the modules, candidates must either have credit for the SRM Exam or be registered for a future administration of the exam.
- Access to the modules will be available for 12 months from the date of purchase with no extensions. Candidates should plan accordingly as the module content will provide information on the structure of the exam and elements involved for a successful sitting of the exam.
- The PA Exam presents candidates with a data set and a realistic business problem. Candidates prepare a report that presents and supports their solution.
- At the Prometric centers candidates will work in a Windows-like environment that is not dependent on an internet connection. They will have access to Word, Excel, a PDF reader, and RStudio for performing their analyses. Their deliverables will be their report and their R code plus any other information or files they believe will support their submission.
- Candidates will have five hours and 15 minutes to complete the project.
- Grading of the exam will follow the protocols used for SOA fellowship exams.
- Candidates will have 11 months from the date of the purchase of the PA e-Learning modules to register for one exam without incurring additional cost. As a reminder, the combined PA module and PA exam fee is paid at the time of initial registration and purchase of the PA e-Learning modules.
Enhanced Computer Based Scheduling:
- STEP 1: Register with the Society of Actuaries by the exam deadline date
- STEP 2: Receive emailed Acknowledgement/Receipt, wait 1 hour, schedule a seat at a Prometric Center
Recognized by the Canadian Institute of Actuaries.