2011 Life and Health Qualifications Seminar

The Academy, with the assistance of the SOA, offers the seminar every year. The 2011 seminar will be held November 7-10, in Arlington, Va.

DETAILS

Life and Health Qualifications Seminar
November 7-10, 2011
Arlington, VA

Please note that attendance will be limited to the first 100 registrants.

• Who should attend?
• Purpose
• CE credit
• SAO standards
• Faculty
• Registration
• Hotel

Who should attend?

If you are an FSA who completed the exam process during 2000-2006, or a post-2006 FSA who, either through testing or alternative education has not otherwise satisfied the basic education requirements of Section 3 of the U.S. Qualification Standards (USQS), you may not meet the criteria for actuaries who wish to be qualified to issue actuarial opinions for either the NAIC Life and A&H Annual Statement (Blue Blank) and/or NAIC Health Annual Statement (Orange Blank).

Other seminar candidates include:

• Foreign actuaries who intend to practice in the United States
  (who must also meet the Academy’s General Qualification
  Standard);
• Experienced FSAs and career ASAs who intend to change their
  practice area;
• Experienced FSAs and career ASAs who are looking for
  continuing professional education;
• Casualty or pension actuaries who wish to learn about life and
  health statutory requirements; and
• Regulators who wish to learn about life and health actuarial
  topics or simply augment their knowledge.

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Purpose

The seminar provides the state- and country-specific basic education that may not have been provided as part of the SOA examination process, or otherwise acquired through subsequent testing or alternative education. It can also serve as a basic education refresher, or as a source of continuing education for more experienced actuaries.

The Academy, with the assistance of the SOA, offers this seminar to instruct and test actuaries on some, but not all, of the basic education subject areas required by the Specific Qualification Standard.

Seminar sessions will include coverage of:

• Asset adequacy testing;
• Statutory insurance accounting;
• Valuation and nonforfeiture requirements;
• Health insurance valuation topics;
• Premium, loss, expense, and contingency reserves; and
• Risk-based capital.

In order to provide context, session presenters may address additional Specific Qualification Standard exam topics. This does not, however, eliminate the need for a candidate to obtain basic education on such topics either through examination or by means of alternative education.

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CE credit

The American Academy of Actuaries believes in good faith that this event constitutes an Organized Activity as defined by the current U.S. Qualification Standards. Under the Standards, a credit hour is determined to be 50 minutes and hourly fractions may be counted. In accordance with the U.S. Qualification Standards, you may earn the following continuing education credits for attending the first three days of the Seminar, using a 50-minute credit hour formula:

• 7.8 (general –applicable to life or health specialty)
• 7.5 (additional life specialty)
• 9.0 (additional health specialty)
• 3.0 (professionalism)

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Qualification Standards

If an actuary wishes to issue an SAO, he or she must, among other requirements, “be knowledgeable, through examination or documented professional development, of the Law (i.e., statutes, regulations, judicial decisions, and other statements of legally binding authority) applicable to the Statement of Actuarial Opinion.” To meet the additional Specific Qualification Standard, which applies to reserve opinions for the NAIC Annual Statement Blanks, an actuary must obtain, through examination or alternative education, specific knowledge in the following topical areas as well:

Life and A&H (Blue) Blank

• Policy forms and coverages;
• Investments and valuations of assets, and the relationship between cash flows from assets and related liabilities;
• Dividends and reinsurance;
• Statutory insurance accounting;
• Valuation of liabilities; and
• Valuation and nonforfeiture laws.

Health (Orange) Blank

• Principles of insurance and underwriting;
• Principles of ratemaking;
• Statutory insurance accounting and expense analysis;
• Premium, loss, expense, and contingency reserves; and
• Social insurance.

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Faculty

The seminar will be taught by recognized industry experts.

Scheduled instructors include:

• Donna Claire, President, Claire Thinking Inc.
• Sheila Kalkunte, Assistant General Counsel, American Academy of Actuaries
• Darrell Knapp, Executive Director, Ernst & Young LLP
• Louis Lombardi, Principal, PricewaterhouseCoopers
• Esther Milnes, former Vice President and Chief Actuary, Individual Life, Prudential Financial
• Craig Morrow, AVP and Corporate Actuary, The Hartford Life Insurance Companies
• Sheldon Summers, Actuary, Claire Thinking Inc.
• William Thompson, Principal and Consulting Actuary, Milliman
• Joeff Williams, Consultant, Actuarial Management Resources

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Registration

Seminar fees

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How to register

Registration for Academy members

• Register online.
  (The fastest, most efficient way to register: Since you will log in, you won’t need to fill in your name and address.)
• Register by fax or mail.
  Print out a registration form and fax or mail it to the Academy.
• If you are a government actuary:
  Print out a registration form and fax or mail it to the Academy.

Registration for non-members

• Register by fax or mail.
  Print out a registration form and fax or mail it to the Academy.
• If you are a government actuary:
  Print out a registration form and fax or mail it to the Academy.

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Cancellations

Cancellations should be made via e-mail to Doreen Moaning at moaning@actuary.org. The Academy will refund the registration fee (as well as the $300 reading materials fee, if the materials have not yet been shipped), minus $100 for administrative costs, if Ms. Moaning receives a written request for a refund by October 14, 2011.

If a written request for a refund or a credit is received after October 14 and before October 25, the Academy will refund the registration payment (but not the $300 reading materials fee), minus $200 for administrative fees. Alternatively, for any written cancellation received in that period, the Academy will issue a credit for the next seminar in lieu of a refund.

No refunds or credits will be given for cancellations made after the seminar begins. Special cases will be evaluated on individual merit. A final decision will be made in writing by the Academy’s vice president for professionalism, John Gleba.

The Academy reserves the right to cancel any seminar if conditions warrant. In the event of such cancellation, registration fees will be refunded. The Academy will not be held liable for any airline or other costs candidates might incur as a result of a seminar being cancelled.

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Hotel and lodging

The seminar is 3½ days long and will be offered only once in 2011, from 8:00 a.m. Monday, November 7, to 11:30 a.m. Thursday, November 10, at the Key Bridge Marriott, in Arlington, Va.

Lodging at the hotel is available. Overnight parking is included.

Planning considerations

The opening session on Monday, November 7, begins promptly at 8:00 am. Attendees are strongly encouraged to check in on Sunday, November 6.

Discounted room rate

Registrants can receive a special room rate at the Key Bridge Marriott of $189 per night (single or double occupancy), plus tax, for the nights of November 6 to November 9, if the reservation is made on or before Monday, October 17.

Parking is provided free of charge.

Phone reservations. You may call the dedicated reservations line toll-free at 1-800-266-9432, or locally at 1-506-474-2009. To receive the special room rate, be sure to mention the American Academy of Actuaries when you make your reservation.

Online reservations. You may use the following link.

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Questions?

For additional information, please contact Doreen Moaning by e-mail (moaning@actuary.org) or phone (202-223-8196)