FSO staff members pass SOA actuarial exams

A senior associate and three associates from the FSO Advisory team recently passed actuarial exams administered by the Society of Actuaries (SOA), a US-based organization of actuaries.

Senior Associate Lino Carandang passed Exam MLC/3L (Models for Life Contingencies). It covers the core actuarial mathematics, particularly calculation of premiums and reserves, contingent payment models, and application of these models to insurance and other financial risks. MLC is one of the toughest exams among the five foundational exams of the SOA.

Associate Vincent Ty passed Exam MFE/3F (Models for Financial Economics) and Exam C/4 (Construction and Evaluation of Actuarial Models). Exam MFE covers the valuation of financial instruments, particularly options, and how these financial models are applied to insurance and other risks. Meanwhile, Exam C introduces a variety of statistical models and methods used in actuarial modeling.

Associate Mark Camilo Mamaril passed Exam P/1 (Probability). Exam P aims to develop knowledge of the fundamental probability tools to quantitatively assess risk.

Associate Wayne Fuentes passed Exam FM/2 (Financial Mathematics). This examination aims to provide an understanding of the fundamental concepts of financial mathematics, and how those concepts are applied in calculating present and accumulated values for various streams of cash flows.

Passing the SOA exams is one of the prerequisites of the Actuarial Society of the Philippines (ASP) to become a qualified actuary in the country.

Congratulations, Lino, Vincent, Mark and Wayne!