How does this role benefit the work of the organization and the profession?
As a member of the CFESDM committee, you will contribute to the learning and development of future actuaries through the education and credential activities of the SOA. Volunteers will have the opportunity to participate in the exam development process starting with question ideation, through the development and completed with grading (if desired). Question development creates opportunities for volunteers to both ensure the integrity and advancement of the SOA’s credentials. Beyond the immediate benefits to the organization and profession, volunteering will give you opportunities to network, share your perspectives, and think critically about the profession and the problems actuaries can tackle.
Responsibilities & Duties
The CFESDM exam committee is looking for volunteers to support question writing and grading. The responsibilities of this role include:
• Reading and understanding assigned syllabus material.
• Developing a question and a corresponding grading rubric based on the exam syllabus and learning objectives.
• Working with vice-chairs to meet key development milestones by specified dates.
• Taking ownership of the question from ideation to completion of the exam-ready question and grading rubric.
• Grading of exam(s) as required and if desired.
• Maintaining confidentiality in accordance with the SOA Education Confidentiality Agreement.
Time Commitment
Time Commitment – Description
- 41 to 60 hours per exam cycle to develop questions and rubric.
• Volunteers are expected to read 100-200 pages of syllabus material in June 2020 through August 2020, develop one exam quality question and associated grading rubric by the end of December, and be available to revise & update the question until early February 2021.
• Volunteers are also given the first option to grade the question developed. Typically involves 20-30 hours to initially grade exam questions and attendance at a 2.5-day Central Grading session to finalize the grading.
• Time spent on volunteering on this committee may count toward Continuing Education hours. Please refer to the guidance provided by the actuarial organization.
Experience Required
- Must be FSA
- CFESDM is a broad exam where any traditional or non-traditional experience background can be applied to the material, and the more diverse the experience of our writers, the better we believe our exam will be. Completion of the CFE track is not required. Participation on this exam is a good learning opportunity for those with various backgrounds.
Opportunity Location
U.S. and Canada
Travel Required
- One in-person question development meeting per year, typically in September.
- Graders should be prepared to attend the off-site Central Grading meeting in either June or December. Meeting locations are held in a desirable travel location: Phoenix, Las Vegas, and Portland to name a few.
- During the COVID19 pandemic, all meetings are being held virtually; other volunteer incentives are being explored by the SOA.
SOA Training Required
New exam writers will be oriented by the senior committee of the CFESDM exam. It is also recommended that the new writers go through the on-line SOA training course. In-person new writer training by the SOA will be offered in the second year of participation.
Primary Area of Practice
Accounting & Finance
Investment & ALM
Health
Life
General Insurance/P&C
Retirement
Risk Management
Other
Specializations
Open to all Specializations