The information below will help you determine which classification(s) is(are) appropriate for you. Applicants must meet the Minimum Qualifications as stated on this bulletin to compete in this examination.

Open and Open, Non-Promotional Examination(s):

• ACTUARY SENIOR - Open

Individuals who meet all of the following criteria:  

1. Individuals with a disability, a record of a disability, or who are regarded as having a disability that limits one or more major life activities;  

2. Individuals who have Limited Examination and Appointment Program (LEAP) certification from the California Department of Rehabilitation  

3. Individuals who satisfy the minimum qualifications as stated in the minimum qualifications section below 

For all Classifications, once you have participated in any of the following examinations, you may not recompete for 24 months:

Exam Code(s):

4239

For ACTUARY SENIOR, once you have participated in any of the following examinations, you may not recompete for 24 months:

Exam Code(s):

• EX-04239

Submit an Examination/Employment Application (STD 678) to apply for this examination.

Electronic applications can be submitted through your account at www.CalCareers.ca.gov.

If you require assistance or alternative testing arrangements due to a disability, indicate on your application that you need reasonable accommodation. You will be contacted by a representative of the testing department to make the necessary arrangements. If you have not been contacted by the time you receive notification of testing, please contact the testing department listed in the Contact section of this bulletin.

If you are unable to submit your application or complete the test due to a disability, please contact the testing department listed in the Contact section of this bulletin.

All applicants must meet the education and/or experience requirements as stated on this exam bulletin to be accepted to the examination.

Unless otherwise stated in the Minimum Qualifications, qualifying experience may be combined on a proportionate basis if the requirements stated below include more than one pattern and are distinguished as "Either" 1, "or" 2, "or" 3, etc. For example, applicants possessing qualifying experience amounting to 50% of the required time of Pattern 1 and additional experience amounting to 50% of the required time of Pattern 2 may be accepted to an examination as meeting 100% of the overall experience requirement.

This examination consists of the following component(s):

A final score of 70% must be attained to be placed on the eligible list.

In addition to evaluating the applicant's relative knowledge, skill and ability as demonstrated by quality and breadth of education/experience, emphasis in each test component will be on measuring competitively, relative to job demands, each applicant's:

Knowledge of:

1. The principles and practices of actuarial science with an emphasis on life, health, disability, casualty or retirement systems.
2. Actuarial guidelines to ensure compliance with current actuarial practices.
3. Complete mathematical operations to analyze, process, summarize, verify, or present numerical data.
4. Statistical procedures such as those related to inferential statistics (probabilities, confidence intervals, correlations, regression, etc.)  American Academy of Actuaries standards of practice, economic principles and practices and their application in the analysis of financial operations and solvency.
5. Data analysis methods and techniques to draw appropriate conclusions, make decisions and recommendations.
6. Financial analysis principles, and concepts to assess the fiscal impact of programs, projects, policies, and procedures.
7. Actuarial methods in order to test liability reasonability.
8. Basic project management principles and techniques to manage and oversee a variety of project activities.
9. Economic principles and practices and their application in the analysis of financial operations and solvency.

 
Ability to:

1. Determine how changes in the legislative and regulatory environment will affect outcomes.
2. Critically review the assumptions and methods in an actuarial memorandum and/or asset adequacy analysis prepared in support of a Statement of Actuarial Opinion regarding reserves and related actuarial items held in support of insurance policies, annuity contracts, or pension obligations, to determine if financial concerns exist regarding the adequacy of reserves.
3. Review underlying in-force policy data in order to validate rates or reserves Reported during an experience review.
4. Perform actuarial and statistical computations to verify rates, cash values, or reserve/liability factors.
5. Apply policies, rules, and regulations to specific situations to solve problems and identify appropriate courses of action.
6. Determine how changes in the legislative and regulatory environment will affect outcomes.
7. Critically review the assumptions and methods in an actuarial memorandum and/or asset adequacy analysis prepared in support of a Statement of Actuarial Opinion regarding reserves and related actuarial items held in support of insurance policies, annuity contracts, or pension obligations, to determine if financial concerns exist regarding the adequacy of reserves.
8. Review underlying in-force policy data in order to validate rates or reserves reported during an experience review.
9. Time management techniques to oversee the prioritization and completion of work tasks and assignments.
10. Actuarial investment mathematics, formulas, principles and their use
11. Asset/liabilities modeling techniques, practices, and trends.
12. Advanced project management principles and techniques to manage and oversee a variety of project activities.

A Servicewide Open eligible list for the ACTUARY SENIOR Classification will be established for:

• State of California

The names of successful competitors will be merged onto the eligible list(s) in order of final score regardless of test date. Eligibility expires 24 months after it is established. Applicants must then retake the examination to reestablish eligibility.

Veterans' Preference will be granted for this examination. Veterans' Preference is an assistance program for veterans, veteran widows and widowers, and spouses of 100% disabled veterans who seek employment with the state. Veterans' Preference is also extended to currently serving military members nearing their retirement or separation date.

You are not eligible for Veteran's Preference if you are:

• A veteran who has been dishonorably discharged or released.
• A veteran, widow or widower of a veteran, or spouse of a 100 percent disabled veteran who currently has permanent civil service status. (Permanent civil service status is the status of an employee who is lawfully retained in his/her position after completion of the applicable probationary period. This does not include limited term).

Veterans' Preference is codified in Government Code Sections 18973 – 18979.

Veteran status is verified by the California Department of Human Resources (CalHR). Directions to apply for Veterans' Preference are on the Veterans' Preference Application (Std. Form 1093), which is available at www.CalCareers.ca.gov, and the Department of Veterans Affairs.

Career Credits are not granted for examination(s) administered on an Open basis or a Promotional basis.

• State of California

Questions regarding this examination should be directed to:

California Relay Service: 1-800-735-2929 (TTY), 1-800-735-2922 (Voice). TTY is a Telecommunications Device for the Deaf, and is reachable only from phones equipped with a TTY Device.

Examination and/or Employment Application (STD 678) forms are available at the California Department of Human Resources, local offices of the Employment Development Department, and through your CalCareer Account (www.CalCareers.ca.gov).

If you meet the requirements stated on this examination bulletin, you may take this examination, which is competitive. Possession of the entrance requirements does not assure a place on the eligible list. Your performance in the examination described in this bulletin will be rated against a predetermined job-related rating, and all applicants who pass will be ranked according to their scores.

State of California reserves the right to revise the examination plan to better meet the needs of the service, if the circumstances under which this examination was planned change. Such revision will be in accordance with civil service laws and rules and all applicants will be notified.

General Qualifications: Applicants must possess essential personal qualifications including integrity, initiative, dependability, good judgment, the ability to work cooperatively with others, and a state of health consistent with the ability to perform the assigned duties of the class. A medical examination may be required. In open examinations, investigation may be made of employment records and personal history and fingerprinting may be required.

Eligible Lists: Eligible lists established by competitive examination, regardless of date, must be used in the following order: 1) sub-divisional promotional, 2) departmental promotional, 3) multi-departmental promotional, 4) service-wide promotional, 5) departmental open, 6) open. When there are two lists of the same kind, the older must be used first. Eligible lists will expire in one to four years unless otherwise stated on the bulletin.

High School Equivalence: Equivalence to completion of the 12th grade may be demonstrated in any one of the following ways: 1) passing the General Education Development (GED) Test; 2) completion of 12 semester units of college-level work; 3) certification from the State Department of Education, a local school board, or high school authorities that the competitor is considered to have education equivalent to graduation from high school; or 4) for clerical and accounting classes, substitution of business college work in place of high school on a year-for-year basis.

Accepted applicants must provide proof of identification at each in-person test session. Acceptable identification consists of a photo identification card or two forms of signed identification.