The Actuarial The Actuarial ProfessionProfession

An IntroductionAn Introduction

What is an Actuary?What is an Actuary?

Is an Actuary a fortune teller?Is an Actuary a fortune teller?

Is an Actuary Is an Actuary a professional gambler?a professional gambler?

Doctrine of False CauseDoctrine of False Cause

A false cause fallacy is a misidentification of the cause for an observed effect.

““Why do…”Why do…” People who have root canals get cancer more often.People who have root canals get cancer more often. People who attend the symphony live longer.People who attend the symphony live longer. People who floss their teeth live longer.People who floss their teeth live longer.

Two Branches of Actuarial ScienceTwo Branches of Actuarial Science

Life & Health / PensionLife & Health / Pension

-- Society of Actuaries : SOASociety of Actuaries : SOA

-- close to 20,000 worldwide close to 20,000 worldwide (≈ 90% in (≈ 90% in U.S.)U.S.)

Property and Casualty Property and Casualty (or Property / Liability)(or Property / Liability)

-- Casualty Actuarial Society : CASCasualty Actuarial Society : CAS

- - 3,979 in United States / 4,317 total3,979 in United States / 4,317 total

P&C Lines of BusinessP&C Lines of BusinessExamplesExamples

HomeownersHomeowners EarthquakeEarthquake AutomobileAutomobile MortgageMortgage

General LiabilityGeneral Liability Medical MalpracticeMedical Malpractice

Workers’ CompensationWorkers’ Compensation Products LiabilityProducts Liability

ReinsuranceReinsurance

Example Actuarial ProblemsExample Actuarial Problems

-- Pricing New ProductsPricing New Products-- Price ClassificationPrice Classification

-- Modeling CatastrophesModeling Catastrophes-- Strategic PlanningStrategic Planning

-- Graphing Size of Loss DistributionsGraphing Size of Loss Distributions-- Establishing Loss ReservesEstablishing Loss Reserves

-- Solvency MonitoringSolvency Monitoring-- Rate Adequacy StudiesRate Adequacy Studies

-- Trending and Development of LossesTrending and Development of Losses-- Current Leveling of PremiumsCurrent Leveling of Premiums

-- Credibility MeasuresCredibility Measures

Pricing New ProductsPricing New Products

Body Piercing Salon InsuranceBody Piercing Salon Insurance

How would you

price that?

Loss DevelopmentLoss Development

Loss DevelopmentLoss Development12 months 24 months 36 months 48 months 60 months

2003 8,802,882 9,620,159 9,390,546 9,539,089 9,574,2132004 9,948,091 11,042,381 10,490,262 10,595,1652005 11,751,813 12,767,774 12,257,0632006 13,016,926 14,351,6192007 14,612,557

12 - 24 24 - 36 36 - 48 48 - 602003 1.09 0.98 1.02 1.002004 1.11 0.95 1.012005 1.09 0.962006 1.10

12 - 24 24 - 36 36 - 48 48 - 60Average 1.10 0.96 1.01 1.00

Loss DevelopmentLoss Development12 - 24 24 - 36 36 - 48 48 - 60

Average 1.12 1.00 1.03 1.00

"Squaring the Triangle"

12 months 24 months 36 months 48 months 60 months

2003 8,802,882 9,620,159 9,390,546 9,539,089 9,574,2132004 9,948,091 11,042,381 10,490,262 10,595,165 10,634,1782005 11,751,813 12,767,774 12,257,063 12,415,292 12,461,0062006 13,016,926 14,351,619 13,806,889 13,985,125 14,036,6202007 14,612,557 16,043,961 15,434,997 15,634,251 15,691,818

12 - 24 24 - 36 36 - 48 48 - 602003 1.09 0.98 1.02 1.002004 1.11 0.95 1.012005 1.09 0.962006 1.10

12 - 24 24 - 36 36 - 48 48 - 60Average 1.10 0.96 1.01 1.00

Loss DevelopmentLoss Development12 months 24 months 36 months 48 months 60 months

2003 8,802,882 9,620,159 9,390,546 9,539,089 9,574,2132004 9,948,091 11,042,381 11,097,593 11,652,4732005 11,751,813 13,162,031 13,556,8912006 13,016,926 14,873,4962007 14,612,557

12 - 24 24 - 36 36 - 48 48 - 602003 1.09 0.98 1.02 1.002004 1.11 1.01 1.052005 1.12 1.032006 1.14

12 - 24 24 - 36 36 - 48 48 - 60Average 1.12 1.00 1.03 1.00

GraphingGraphingSize of LossSize of LossDistributionsDistributions

Claim Counts by SizeClaim Counts by Size10,000

250005000075000

100000125000150000175000200000225000250000275000300000325000350000375000400000425000450000475000500000525000550000575000600000625000650000675000

0

200

400

600

800

1000

1200

1400

1600

1800

Lognormal FitLognormal Fit

0

200

400

600

800

1000

1200

1400

1600

1800

Actual Fitted

Modeling CatastrophesModeling Catastrophes

1992 Hurricane Load - Florida1992 Hurricane Load - Florida

1992 Florida Homeowners Premium1992 Florida Homeowners Premium

= $1,000,000,000 ($1 billion)= $1,000,000,000 ($1 billion)

1992 Florida Homeowners Expected Loss Ratio = 65%1992 Florida Homeowners Expected Loss Ratio = 65%

=> Expected Loss Costs=> Expected Loss Costs

= 65% x $1,000,000,000= 65% x $1,000,000,000

= $650,000,000 ($650 million)= $650,000,000 ($650 million)

Excess Wind Factor Excess Wind Factor = 1.14= 1.14

Expected Loss CostsExpected Loss Costs = Normal Losses x Excess Wind Factor= Normal Losses x Excess Wind Factor

=>=> Normal Losses Normal Losses = $650,000,000/1.14= $650,000,000/1.14

= $570,000,000= $570,000,000

Catastrophe LossesCatastrophe Losses = Total Losses – Normal Losses= Total Losses – Normal Losses

= $650,000,000 - $570,000,000 = $650,000,000 - $570,000,000

= $80,000,000= $80,000,000

1992: Hurricane Andrew1992: Hurricane Andrew

Photograph © Allan Tannenbaum

Today

Simulation models are used to estimate hurricane risk,using meteorological data.

The Costliest HurricanesThe Costliest HurricanesAdjusted to 2004 Cost, Population, and Wealth LevelsAdjusted to 2004 Cost, Population, and Wealth Levels

KATRINAKATRINA 20052005 > $125 B> $125 B Southeastern Florida/Alabama Southeastern Florida/Alabama 1926 1926 $102B$102B ANDREW [SE FL / LA ] ANDREW [SE FL / LA ] 19921992 $43B$43B Northern Texas: Galveston Northern Texas: Galveston 19001900 $37B$37B Northern Texas: GalvestonNorthern Texas: Galveston 19151915 $31B$31B Southwestern Florida Southwestern Florida 19441944 $23B$23B New England New England 19381938 $24B$24B SE Florida: Lake Okeechobee SE Florida: Lake Okeechobee 19281928 $19B$19B BETSY [SE FL / LA] BETSY [SE FL / LA] 19651965 $18B$18B DONNA [FL / Eastern U.S.]DONNA [FL / Eastern U.S.] 19601960 $17B$17B CAMILLE [MS / LA / VA ]CAMILLE [MS / LA / VA ] 19691969 $15B$15B AGNES [NW FL / NE U.S.]AGNES [NW FL / NE U.S.] 19721972 $15B$15B CHARLEY [SW FL]CHARLEY [SW FL] 20042004 $15B$15B DIANE [NE U.S.]DIANE [NE U.S.] 19551955 $14B$14B IVAN [NW FL / AL]IVAN [NW FL / AL] 20042004 $14B$14B HUGO [SC]HUGO [SC] 19891989 $13B$13B

Solvency MonitoringSolvency Monitoring

1906: San Francisco Earthquake1906: San Francisco Earthquake

Only one regional insurance company survived, offering company stock in place of cash to settle claims.

Earthquake risk is estimated with the help of seismologists.Losses are reinsured, spreading the risk globally.

Today

Are all losses Are all losses predictable?predictable?

View from Liberty International View from Liberty International Underwriters Underwriters October 2001October 2001

Photograph by Ivan Rodriguez

2004 Prediction2004 PredictionNational Oceanic and Atmospheric AdministrationNational Oceanic and Atmospheric Administration

““In virtually every coastal city from Texas In virtually every coastal city from Texas to Maineto Maine, the present Tropical Prediction Center Director , the present Tropical Prediction Center Director (Max Mayfield) former National Hurricane Center Directors (Max Mayfield) former National Hurricane Center Directors

have stated that have stated that the United States is building the United States is building towards its next hurricane disaster. towards its next hurricane disaster. … …

The areas along the United States Gulf and Atlantic coasts The areas along the United States Gulf and Atlantic coasts where most of this country’s hurricane related fatalities where most of this country’s hurricane related fatalities have occurred are also now experiencing the country’s have occurred are also now experiencing the country’s most significant growth in population. This situation, in most significant growth in population. This situation, in combination with continued building along the coast, combination with continued building along the coast,

will lead to serious problems for will lead to serious problems for many areas in hurricanesmany areas in hurricanes.” .”

Insurer InsolvenciesInsurer InsolvenciesAnnual Guarantee Fund Net Assessments (000’s)Annual Guarantee Fund Net Assessments (000’s)

A few insurers go insolvent every year for different reasons. Catastrophes are no longer the leading cause of insolvencies.

Source: iii.org

$0

$250,000

$500,000

$750,000

$1,000,000

$1,250,000

Who do actuaries work for?Who do actuaries work for? Insurance companiesInsurance companies Consulting firmsConsulting firms Government insurance departmentsGovernment insurance departments Colleges and universitiesColleges and universities Banks and investment firmsBanks and investment firms Large corporationsLarge corporations Public accounting firmsPublic accounting firms Failure Analysis firmsFailure Analysis firms ReinsurersReinsurers ThemselvesThemselves

Who do actuaries work Who do actuaries work with?with?

Other Actuaries Other Actuaries (e.g. mentors, peers, students)(e.g. mentors, peers, students) Underwriting Underwriting (e.g. pricing large accounts)(e.g. pricing large accounts) Sales Sales (e.g. developing pricing strategies)(e.g. developing pricing strategies) Marketing Marketing (e.g. retention analyses)(e.g. retention analyses) Claims Claims (e.g. loss reserving studies)(e.g. loss reserving studies) Risk ManagementRisk Management (e.g. response to loss trends) (e.g. response to loss trends)

Clients / Large InsuredsClients / Large Insureds ReinsurersReinsurers

Advantages Advantages to the to the

Actuarial ProfessionActuarial Profession High earnings potentialHigh earnings potential No cost of graduate school – no loans to repayNo cost of graduate school – no loans to repay Option to begin retirement savings early to compound Option to begin retirement savings early to compound

itit Advance by examinations – no “glass ceiling”Advance by examinations – no “glass ceiling” Advancement opportunities expand throughout careerAdvancement opportunities expand throughout career Professional Interactions – “Front Office” roleProfessional Interactions – “Front Office” role Variety of avenues to chooseVariety of avenues to choose Newsworthy projectsNewsworthy projects High demand – less sensitive to economic cyclesHigh demand – less sensitive to economic cycles Job securityJob security Financial Savvy – gain personal investing skillsFinancial Savvy – gain personal investing skills Overall, a highly ranked professionOverall, a highly ranked profession

The Jobs Rated Almanac The Jobs Rated Almanac ranks careers according to:ranks careers according to:

EnvironmentEnvironment IncomeIncome OutlookOutlook Physical DemandsPhysical Demands SecuritySecurity StressStress

Jobs Rated Almanac Top 10 Jobs Rated Almanac Top 10 20012001

- #1 Financial Planner- #1 Financial Planner - #2 Website Manager- #2 Website Manager - #3 Computer Systems Analyst- #3 Computer Systems Analyst - #4- #4 ACTUARYACTUARY - #5 Computer Programmer- #5 Computer Programmer - #6 Software Engineer- #6 Software Engineer - #7 Meteorologist- #7 Meteorologist - #8 Biologist- #8 Biologist - #9 Astronomer- #9 Astronomer - #10 Paralegal Assistant- #10 Paralegal Assistant

Jobs Rated Almanac Top 10 Jobs Rated Almanac Top 10 20022002

- #1 Biologist- #1 Biologist - #2- #2 ACTUARYACTUARY - #3 Financial Planner- #3 Financial Planner - #4 Computer Systems Analyst- #4 Computer Systems Analyst - #5 Accountant- #5 Accountant - #6 Software Engineer- #6 Software Engineer - #7 Meteorologist- #7 Meteorologist - #8 Paralegal Assistant- #8 Paralegal Assistant - #9 Statistician- #9 Statistician - #10 Astronomer- #10 Astronomer

U.S. News & World Reports U.S. News & World Reports 20062006

Actuary ranks in the top 25 careersActuary ranks in the top 25 careers

www.CNNMoney.comwww.CNNMoney.com2006 2006

Actuary ranks in the top 50 careersActuary ranks in the top 50 careers

Average EarningsAverage Earningsbased on level of formal educationbased on level of formal education

High School dropout:High School dropout: $19,182$19,182 High School Graduate: High School Graduate: $28,631$28,631 Some College (no degree):Some College (no degree): $30,173$30,173 Associate’s Degree:Associate’s Degree: $36.021$36.021 Bachelor’s Degree: Bachelor’s Degree: $51,568$51,568 Master’s Degree: Master’s Degree: $67,073$67,073 Doctoral Degree: Doctoral Degree: $93,033$93,033

Source: U.S. Census Bureau, Statistical Abstract of the United States, 2007Table 217 - Mean Earnings by Highest Degree Earned (2004)

Average EarningsAverage Earningscomparison to the actuarial professioncomparison to the actuarial profession

All professionsAll professions P&C Actuaries onlyP&C Actuaries onlyaverageaverage starting salarystarting salary

BA: BA: $51,568$51,568 1 exam: 1 exam: $46 - $61K$46 - $61K MA: MA: $67,073$67,073 ACAS: ACAS: $78,000$78,000 Ph.D: Ph.D: $93,033$93,033 FCAS:FCAS: $111,000$111,000

Without considering…average debt from student loans

Source: D.W. Simpson Salary Survey of September 2007 (lowest salary, least experience).

The Cost of Graduate SchoolThe Cost of Graduate SchoolMBA: MBA: $20,000 / year (tuition only)$20,000 / year (tuition only)

M.A.: M.A.: $35,000 / year (all costs)$35,000 / year (all costs)[ Example: Syracuse Architectural program ][ Example: Syracuse Architectural program ]

Ph.D.:Ph.D.: Graduate students may receive Graduate students may receive a stipend for research or teaching a stipend for research or teaching

Without consideringWithout considering … … delayed saving for delayed saving for

retirementretirement

Retirement PlanningRetirement Planningfrom age 22from age 22

Every $100/month saved for seven years Every $100/month saved for seven years (length of Ph.D. program) at 10% interest, (length of Ph.D. program) at 10% interest,

by age 65 will amount to by age 65 will amount to $370,714$370,714..

Saving 4% of income (increasing from Saving 4% of income (increasing from $38,000/year to $77,000/year), with 2% $38,000/year to $77,000/year), with 2% employer matching for 7 years at 10%employer matching for 7 years at 10%

by age 65 will total over by age 65 will total over $1 million$1 million. . ((Caveat: in today’s dollars, $1,000,000 = Caveat: in today’s dollars, $1,000,000 = $325,775*$325,775*))

*Assuming a 3% annual rate of inflation*Assuming a 3% annual rate of inflation

Disadvantages Disadvantages to the to the

Actuarial ProfessionActuarial Profession

Difficulty of the examination processDifficulty of the examination process Frustrating data problemsFrustrating data problems Narrow field with high degree of specializationNarrow field with high degree of specialization Confinement to an office (non-consultant) Confinement to an office (non-consultant) Required travel and long hours (consultant)Required travel and long hours (consultant) Relocation may be necessary for ACAS or FCASRelocation may be necessary for ACAS or FCAS May not provide good topics of conversationMay not provide good topics of conversation

Where do Most P&C Actuaries Live?Where do Most P&C Actuaries Live?

Illinois 472 Wisconsin 141

Connecticut 469 Texas 132

New York 412 Minnesota 127

New Jersey 349 Florida 122

California 306 D.C. (MD & VA) 110

Pennsylvania 258 Georgia 108

Massachusetts 202 Washington 78

Ohio 166 Iowa 64

What are some other choices for What are some other choices for P&C Actuaries to live?P&C Actuaries to live?

North Carolina 60 Colorado 21

Michigan 51 Indiana 21

Missouri 44 Nebraska 14

Rhode Island 36 Oregon 13

New Hampshire 34 South Carolina 12

Kansas 33 Delaware 11

Arizona 26 Nevada 8

Tennessee 25 Vermont 8

Where might a P&C actuary be Where might a P&C actuary be hard pressed to find a jobhard pressed to find a job??

Alabama 6 Idaho 2

Kentucky 6 Montana 2

Louisiana 6 North Dakota 2

Maine 5 Arkansas 1

Hawaii 4 West Virginia 1

Mississippi 3 Oklahoma 0

New Mexico 3 South Dakota 0

Utah 3 Wyoming 0

Alaska 2

International CAS MembersInternational CAS Members

Canada 340 Germany 7

Bermuda 106 Singapore 7

United Kingdom 42 Taiwan 6

Switzerland 26 France 5

Hong Kong 23 Korea 5

China 16 Cayman Islands 5

Australia 13 Ireland 4

International CAS MembersInternational CAS Members

South Korea 3 India 1

Israel 3 Italy 1

Brazil 2 Japan 1

Mexico 2 Malaysia 1

Netherlands 2 South Africa 1

British West Indies 1 Spain 1

Egypt 1 Thailand 1

Two Branches of Actuarial ScienceTwo Branches of Actuarial ScienceREVISITEDREVISITED

CASCAS: Casualty Actuarial Society : Casualty Actuarial Society (Property & Casualty)(Property & Casualty)

3,979 in United States / 4,317 total3,979 in United States / 4,317 totalSOASOA: Society of Actuaries : Society of Actuaries (Life & Health / Pension)(Life & Health / Pension)

close to 20,000 worldwide (≈ 90% in U.S.)close to 20,000 worldwide (≈ 90% in U.S.)

How do I choosea path?

In the CAS and SOA,

Exam Parts1, 2, 3F & 4

are the same.CAS Exam 1 = SOA Course PCAS Exam 2 = SOA Course FMCAS Exam 3F = SOA Course MFECAS Exam 4 = SOA Course M

Exam 3L is similar to SOA Exam MFE;both deal with life contingencies.

CAS Actuarial ExaminationsCAS Actuarial ExaminationsBasic Education ExamsBasic Education Exams

ExamExam TopicTopic 1 Probability1 Probability 2 Financial Mathematics2 Financial Mathematics 3 Actuarial Models 3 Actuarial Models

3F - Financial Economics3F - Financial Economics 3L - Life Contingencies and Statistics3L - Life Contingencies and Statistics

4 Construction and Evaluation of 4 Construction and Evaluation of Actuarial ModelsActuarial Models

CAS Actuarial ExaminationsCAS Actuarial ExaminationsAssociate Level Exams (Current)Associate Level Exams (Current)

ExamExam TopicTopic

55 Introduction to P&C Insurance and Introduction to P&C Insurance and Ratemaking Ratemaking

66 Reserving, Insurance Accounting Principles, Reserving, Insurance Accounting Principles,

Reinsurance, and Enterprise Risk Reinsurance, and Enterprise Risk ManagementManagement

77 Law, Regulation, Government and Industry Law, Regulation, Government and Industry Insurance Programs, Financial Reporting Insurance Programs, Financial Reporting and Taxation (U.S. or Canada)and Taxation (U.S. or Canada)

CAS Actuarial ExaminationsCAS Actuarial ExaminationsAssociate Level Exams Associate Level Exams (beginning in 2011)(beginning in 2011)

Modules (Internet-Based Courses)Modules (Internet-Based Courses)

11 Introduction to P&C Insurance, Ratemaking,Introduction to P&C Insurance, Ratemaking,and Insurance Operationsand Insurance Operations

22 Law, Regulation, Insurance AccountingLaw, Regulation, Insurance AccountingPrincipals, and ReinsurancePrincipals, and Reinsurance

ExamExam TopicTopic

• • Basic Ratemaking and Reserving Basic Ratemaking and Reserving • • Law, Regulation, Government and Industry Law, Regulation, Government and Industry

Insurance Programs, Financial Reporting Insurance Programs, Financial Reporting and Taxation (U.S. or Canada)and Taxation (U.S. or Canada)

CAS Actuarial ExaminationsCAS Actuarial Examinations

Fellowship Level ExamsFellowship Level Exams(structure beginning in 2011)(structure beginning in 2011)

ExamExam TopicTopic

• • Investments and Rate of ReturnInvestments and Rate of Return

• • Advanced Reserving, Reinsurance, and Advanced Reserving, Reinsurance, and

Enterprise Risk ManagementEnterprise Risk Management

• • Advanced Ratemaking and Advanced Ratemaking and

Individual Risk Rating PlansIndividual Risk Rating Plans

CAS and SOA CAS and SOA Actuarial ExaminationsActuarial Examinations

Exam 1Exam 1

““Probability”Probability”

A. General ProbabilityA. General ProbabilityB. Univariate Probability Distributions:B. Univariate Probability Distributions:

binomial, negative binomial, geometric, uniform, binomial, negative binomial, geometric, uniform, hypergeometric, Poisson, exponential, Pareto, hypergeometric, Poisson, exponential, Pareto,

normal,normal,chi-square, beta, lognormal, gamma, and Weibullchi-square, beta, lognormal, gamma, and Weibull

C. Multivariate Probability DistributionsC. Multivariate Probability Distributions

CAS and SOA CAS and SOA Actuarial ExaminationsActuarial Examinations

Exam 2Exam 2

““Financial Mathematics”Financial Mathematics”

A. Interest TheoryA. Interest Theory

B. FinanceB. Finance

Validation by Educational ExperienceValidation by Educational Experience(“VEE”)(“VEE”)

1.1. Applied Statistical MethodsApplied Statistical Methods

2. Corporate Finance2. Corporate Finance

3. Economics3. Economics

Skills and Personality TraitsSkills and Personality Traitsto succeed as an Actuaryto succeed as an Actuary

• Analytic thinking• Problem solving • Good common sense / “business” sense• Facility with Mathematics• Ability to explain complex ideas• Organized, concise writer • Determination• Independence• Disciplined study habits• Tendency to start projects early• Comfortable using computer programs

like Excel, Access, Word, SAS

The Changing Face of The Changing Face of ActuariesActuaries

In 2003, women held the presidency in three of the five professional organizations governing the field of actuarial science. Pictured are: - Barbara Lautzenheiser, president of the American Academy of Actuaries (FSA 1969); - Mary Frances Miller, president of the Casualty Actuarial Society (FCAS 1988); and - Margaret Tiller Sherwood, president of the Conference of Consulting Actuaries (FCAS 1982, ASA 1984).

The International Association The International Association

of Black Actuariesof Black Actuaries

IABA’s 2002 Annual MeetingIABA’s 2002 Annual Meeting

Membership in IABA is growing.

Advancing DiversityAdvancing Diversity Minority Students:Minority Students:

– African American, Latino, or Native American African American, Latino, or Native American

Scholarships for Minority StudentsScholarships for Minority Students– Individual awards of $500 - $3,000, annuallyIndividual awards of $500 - $3,000, annually– Demonstrated performance and commitmentDemonstrated performance and commitment

Exam Fee Reimbursement for Minority StudentsExam Fee Reimbursement for Minority Students– $175 exam fee reimbursed after passing Exam 1$175 exam fee reimbursed after passing Exam 1

Visit the website Visit the website www.BeAnActuary.orgwww.BeAnActuary.orgMinority Programs: Scholarship applications, exam Minority Programs: Scholarship applications, exam fee reimbursement forms, internships, and more.fee reimbursement forms, internships, and more.

Write this down!Write this down!

The CAS Website: The CAS Website: www.casact.orgwww.casact.org

1. DETAIL OF EXAMS:1. DETAIL OF EXAMS:Admissions/ExamsAdmissions/Exams20xx Syllabus of Basic Education20xx Syllabus of Basic Education

Complete Table of Contents Complete Table of Contents 2. ABOUT THE PROFESSION:2. ABOUT THE PROFESSION:

www.BeAnActuary.orgwww.BeAnActuary.org3. INTERNSHIPS:3. INTERNSHIPS:

www.BeAnActuary.org/find/interns.cfmwww.BeAnActuary.org/find/interns.cfm4. VALIDATION BY EDUCATIONAL EXPERIENCE (VEE):4. VALIDATION BY EDUCATIONAL EXPERIENCE (VEE):

Admissions/ExamsAdmissions/Exams20xx Syllabus of Basic Education20xx Syllabus of Basic EducationValidation by Educational ExperienceValidation by Educational Experience

5. CURRENT TOPICS:5. CURRENT TOPICS: Professional EducationProfessional Education Meetings and Seminar HandoutsMeetings and Seminar Handouts

““Click Here for the Chronological Listing”Click Here for the Chronological Listing”

The EndThe End