SOA Partnering with Prometric for Predictive Analytics (PA) Exam Administration
To respond to the changing environment in which actuaries work, the Society of Actuaries (SOA) added a new Predictive Analytics (PA) requirement to the Associateship pathway effective July 1, 2018. This new assessment – and the learning it will test – is an essential addition to the skills and competencies all actuaries will need in the future.
Appropriate assessment of predictive analytics requires the use of computer tools (such as spreadsheets and programs for statistical analysis) as well as demonstration of the ability to analyze difficult problems and data sets and communicate one’s analysis to clients, customers, or supervisors through written reports.
To carry out this type of assessment – a major advancement in our examination capabilities – the SOA has partnered with Prometric – the same network of centers used for our computer-based preliminary examinations – for the administration of the PA Exam. Their extensive global test center network and exceptional security protocols make the new PA Exam accessible to all SOA candidates.
Prometric’s market-leading technology provides an innovative testing platform that will allow us to ask questions that more closely reflect real work situations. This platform allows use of Excel and Word, as well as the R software environment, and is designed for intuitive switching between programs. The platform incorporating these elements has been developed through extensive discussion and design work over the past 18 months by representatives of the SOA, with assistance from Prometric. The platform design was vetted via a multi-city beta test conducted in December 2017. Feedback from test users in the U.S., Canada, Beijing and Bangkok allows us to ensure consistency across different test centers.
We are excited to bring this enhancement to our candidates and their employers throughout the world and are confident they will agree that it is a major step forward in developing and testing skills in predictive analytics for actuaries.
See the PA home page for additional information and the latest updates.