Evani
I was so disappointed with the sitsttaics education that was part of the exams and VEEs that I quit my job and went to graduate school to pursue a masters in sitsttaics. In the exams I memorized formulas and process to solve problems. I focused on mindless memorization not because I didn't want to learn, but because in the exams there is no time to really think about a problem. In graduate school I learned how to apply a framework of thinking about problems and use that framework to solve problems. Mr. Meyers makes a great point that Bayesian methods are superior could easily be incorporated and taught. But Bayesian sitsttaics is already on Exam C. And I believe that if you were to ask most recently credentialed actuaries they would be able to determine the posterior from a prior and conditional likelihood but they wouldn't know what that posterior was used for or how to interpret it. And Markov Chains are also already on exam 3. In general, I strongly believe there should be more sitsttaics. But there should be more problems that involve analyzing and interpreting general output and less involving mindless memorization.
Evani I was so disappointed with the sitsttaics education that was part of the exams and VEEs that I quit my job and went to graduate school to pursue a masters in sitsttaics. In the exams I memorized formulas and process to solve problems. I focused on mindless memorization not because I didn't want to learn, but because in the exams there is no time to really think about a problem. In graduate school I learned how to apply a framework of thinking about problems and use that framework to solve problems. Mr. Meyers makes a great point that Bayesian methods are superior could easily be incorporated and taught. But Bayesian sitsttaics is already on Exam C. And I believe that if you were to ask most recently credentialed actuaries they would be able to determine the posterior from a prior and conditional likelihood but they wouldn't know what that posterior was used for or how to interpret it. And Markov Chains are also already on exam 3. In general, I strongly believe there should be more sitsttaics. But there should be more problems that involve analyzing and interpreting general output and less involving mindless memorization.