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May 31, 2005

Details Released for September CBT Administration of Exam 1/P

Exam 1/P on Probability will be offered by computer-based testing (CBT) during the three-day period of September 26-28, 2005, in Canada and the United States and on September 26, 2005, in all other locations. (In the small number of areas without access to CBT, candidates will take an Internet-based test that will be held on September 26, 2005.) The subsequent administration of Exam 1/P will be in February 2006 with testing periods planned for May, August, and November 2006.

The Canadian Institute of Actuaries, Casualty Actuarial Society, and Society of Actuaries, joint sponsors of the exam, have moved Exam 1/P to CBT because it will give candidates more frequent opportunities to take this exam within a standardized environment. After the first few administrations, it is anticipated that grades will be available upon completion of the computer-based test. For the September 2005 administration, however, the grades will be mailed in the traditional manner, approximately six weeks after the exams are administered.

The registration deadline for the September administration for Exam 1/P will be July 22, 2005. Grades from the Spring 2005 administration are scheduled to be released on July 8, 2005. Candidates who wait until Spring grades are released to register must send their registrations by courier to reach Preliminary Actuarial Examinations (SOA office) by Friday, July 22, 2005.

The exam fee for the September 2005 administration of Exam 1/P is $175. The fee incorporates the additional expenses associated with the expanded development and the computer delivery process in a network of professional test centers. The refund policy for CBT is different from the policy used for other actuarial exams. Any candidate who submits an application for Exam 1/P and subsequently decides not to take the examination may receive a refund (less the $60 administrative fee) only by doing both of the following:

  • Cancel the appointment by noon of the third business day (includes Saturdays) before the test appointment. For example, to cancel an examination for Tuesday, a candidate must notify the test center by noon on the Friday before the Tuesday appointment.

  • Submit a refund request by e-mail (CBTrefund@soa.org) to Preliminary Actuarial Examinations by noon of the third business day before the test appointment. Examination fee refunds will be issued following the testing administration.

Any refund request submitted later than noon of the third business day before the test appointment will not be considered.

Thomson Prometric, which operates an international network of testing centers, will host the CBT administration of Exam 1/P. Thomson Prometric offers high-quality test site environments and experiences for candidates. The professional test center staff will verify your identity and assist in the sign-in and on-time seating process. The centers are secure and provide an environment that is clean, temperature controlled, and quiet.

For more information, please go to the CAS website's article here.

Posted by Tom Troceen