SOA - Important Course 7 Advisory Update—September 1, 2006

Important Course 7 Advisory Update—September 1, 2006

Course 7 Advisory–Update September 1, 2006

The purpose of this advisory is to notify candidates of continued action taken by the Society of Actuaries to address the high demand for Course 7 seminars this year.

To accommodate eligible candidates, the Society of Actuaries will offer a limited number of additional Course 7 seminars in early 2007.  The additional seminars will allow candidates registered for the November or December seminars who are unable to attend due to capacity an opportunity to attend a seminar.

The 2007 seminars will be offered only to candidates who are registered by the seminar deadline for either the November or December seminars and who have met the following requirements by the seminar deadline:

  • Fully eligible attendee:  Has credit for the four preliminary exams and two of Courses 5, 6, and 8 as well as the Course 7 Pre–test; or
  • Waiver attendee:  Has obtained a Course 7 prerequisite waiver and has credit for the four preliminary exams and one of Courses 5, 6, or 8 as well as the Course 7 Pre–test.

Course 7 Policies from May 12, 2006 Advisory Still in Effect

Re–taking the Seminar

  • Candidates attending a Course 7 Seminar after June 30, 2006 will not have the opportunity to register for a second seminar if they do not pass the seminar they attend. 

Prerequisite Waivers

  • Prerequisite waivers are no longer being issued, except on a case–by–case basis.  Prerequisite waivers may be granted for candidates outside North America or candidates who have both passed the Pre–test and completed four years of responsible actuarial work experience by June 30, 2006.

Recommendations for Potential Course 7 Seminar Attendees
Candidates eligible to attend a Course 7 seminar should submit a pre–test registration and/or seminar registration as soon as possible.  Candidates may submit both applications at the same time. Keep in mind all requirements and prerequisites must be completed by the registration deadline for the 2006 seminar applied for.  (Note: Candidates who have submitted a seminar application and who are subsequently unsuccessful on the pre–test or final prerequisite course will have their seminar registration canceled and the seminar fee refunded, less a $100 (U.S.) processing fee.)

2007 Seminar Dates and Locations
Dates and locations for the 2007 seminars will be posted on the Course 7 page of the SOA web site when available.

Conversion Alternatives for Associateship and Fellowship
As a reminder, candidates seeking Associateship with the Society of Actuaries who do not obtain credit for Course 7 may alternatively complete Fundamentals of Actuarial Practice (FAP) modules 6–8 and the second FAP exam along with all other requirements for Associateship.  Candidates seeking Fellowship who do not obtain credit for Course 7 will be required to complete FAP modules 6–8, the second FAP exam and the Capstone module along with all other requirements for Fellowship.
We strongly encourage candidates, especially those who are attempting to attend the seminar using a waiver, to consider the FAP as an alternative.  Modules 6–8 are expected to be available in late 2006 with the second FAP exam anticipated in early 2007. The Capstone module is anticipated in mid–2007.

For more information on the FAP course, please see the FAP Announcement page.