Editing Actuary (section)

===Pass marks and pass rates===
Historically, the actuarial profession has been reluctant to specify the pass marks for its examinations.{{sfn|Muckart|2010}}{{sfn|Prevosto|2000}} To address concerns that there are pre-existing pass/fail quotas, a former chairman of the Board of Examiners of the [[Institute and Faculty of Actuaries]] stated: "Although students find it hard to believe, the Board of Examiners does not have fail quotas to achieve. Accordingly, pass rates are free to vary (and do). They are determined by the quality of the candidates sitting the examination and in particular how well prepared they are. Fitness to pass is the criterion, not whether you can achieve a mark in the top 40% of candidates sitting."{{sfn|Muckart|2010}} In 2000, the [[Casualty Actuarial Society]] (CAS) decided to start releasing pass marks for the exams it offers.{{sfn|Prevosto|2000}} The CAS's policy is also not to grade to specific pass ratios; the CAS board affirmed in 2001 that "the CAS shall use no predetermined pass ratio as a guideline for setting the pass mark for any examination. If the CAS determines that 70% of all candidates have demonstrated sufficient grasp of the syllabus material, then those 70% should pass. Similarly, if the CAS determines that only 30% of all candidates have demonstrated sufficient grasp of the syllabus material, then only those 30% should pass."{{sfn|CAS|2001}}