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Society of Actuaries (SOA)
The Society of Actuaries is the largest and most well known professional organization for actuaries. The SOA covers actuaries in all tracks, including life insurance, pensions, health and benefits, and property & casualty. The property & casualty track is relatively new and was in direct competition with the Casualty Actuarial Society (CAS) which only deals with P&C insurance. Through research and education, the SOA’s mission is to advance actuarial knowledge and to enhance the ability of actuaries to provide expert advice and relevant solutions for financial, business and societal challenges. The SOA’s vision is for actuaries to be the leading professionals in the measurement and management of risk.
Associate of the Society of Actuaries (ASA)
FCAS is the first rung of membership for actuaries certified under the CAS. This requires passing most of the examinations and becoming a member of the CAS.
Exams and other requirements:
-Validation by Educational Experience (VEE)
-Exam P–Probability
-Exam FM–Financial Mathematics
-Exam IFM–Investment and Financial Markets
-Exam LTAM–Long-Term Actuarial Mathematics
-Exam STAM–Short-Term Actuarial Mathematics
-Exam SRM-Statistics for Risk Modeling
-Exam PA-Predictive Analytics
-Fundamentals of Actuarial Practice (FAP)
-e–Learning Course
-Associateship Professionalism Course (APC)
-dues paying associate member of SOA (currently $370 USD/year)
Associate of the Society of Actuaries (ASA)
FCAS is the top rung of credentials for actuaries certified under the CAS. This requires passing all the examinations and becoming a full member of the CAS.
Exams and other requirements:
-ASA requirements
-Decision Making and Communication (DMAC) Module
-Fellowship Admissions Course (FAC)
-additional exams/modules based on track chosen
Casualty Actuarial Society (CAS)
The Casualty Actuarial Society (CAS) is a professional society of actuaries specializing in property and casualty insurance. The bulk of the membership is in the United States and Canada.
Membership requires paying annual dues, which is currently $595.00 USD per year.
Associate of the CAS (ACAS)
ACAS is the first rung of membership for actuaries certified under the CAS. This requires passing most of the actuarial exams and becoming a member of the CAS.
Exams and other requirements:
-CAS Exam 1 – Probability
-CAS Exam 2 – Financial Mathematics
-CAS Exam 3F – Models for Financial Economics Exam
-CAS Exam 4 – Construction and Evaluation of Actuarial Models Exam
-CAS Exam 5 – Basic Ratemaking and Reserving
-CAS Exam 6 – Regulation and Financial Reporting
-two CAS Online Courses
-Validation by Educational Experience (VEE)
-CAS Course on Professionalism
-dues paying member of CAS (currently $595 USD/year)
Fellow of the CAS (FCAS)
FCAS is the top rung of credentials for actuaries certified under the CAS. This requires passing all the examinations and becoming a full member of the CAS. Find out more information on CAS Exams.
Exams and other requirements:
-ACAS requirements
-CAS Exam 7 – Advanced Reserving and ERM
-CAS Exam 8 – Advanced Ratemaking
-CAS Exam 9 – Financial Risk and Rate of Return
Institute and Faculty of Actuaries (IFoA-UK)
The Institute and Faculty of Actuaries is the professional body which represents and regulates actuaries in the United Kingdom.
Certified Actuarial Analyst
This new qualification will be obtained after passing 6 modules.
