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Fellow of the Society of Actuaries (FSA)

In fall 2025, the SOA is enhancing the Fellowship pathway to better meet the needs of candidates, increase flexibility and provide greater global relevancy. The pathway continues to maintain the high standards of excellence and rigor that are hallmarks of the SOA. The updated curriculum shifts from specialized tracks to a flexible pathway through a series of courses. You now have the option to focus on a single practice area or combine courses for a more personalized approach that reflects your current role or future aspirations.

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Learn more about the evolution

Additional Highlights

Each course includes a syllabus to guide you, materials to study, additional resources to assist your journey, and an exam to verify knowledge.

  • Improved source materials – enhanced syllabi,  course strategy guides, guided examples with solutions, more focused study materials and relevant past exam questions
  • More frequent exams – high-demand courses offered three times per year starting in 2026
  • Regulatory material – option to learn or bypass U.S. or Canadian regulatory material
  • Faster grading – grading reduced from 11 weeks to four weeks
  • More exam feedback – detailed score reports available if you do not pass and personalized written feedback option for those close to passing
  • Transition rules – no credit is lost

FSA Requirements

To earn your Fellowship, complete the following:

  • All current Associate of the SOA (ASA) requirements,1
  • Four technical courses, including a two-course sequence (101 and 201) in a single practice area,
  • The Decision Making and Communications (DMAC) Course, and
  • The Fellowship Admissions Course (FAC).

All previous exams will transition directly to courses in the new pathway; credits will not expire.

1 If an ASA was previously earned without passing or receiving transition credit for a current ASA requirement, earning an FSA requires successfully completing that component.

View Transition Rules

FSA Course Catalog

To complete the four technical courses required for fellowship, choose a 101-201 sequence from your desired area of practice below, then select any two other courses.

Some 201 courses have been designed for specific geographies:

  • C: Canada
  • I: International
  • U: United States

Candidates can only choose one 201 course within the same practice area; for instance, a candidate cannot receive credit for both ILA 201-I and ILA 201-U.

Courses designated with the prefix “CP” are cross-practice courses designed to appeal to candidates in a variety of practice areas and situations.

There are no formal prerequisites for the technical courses. The syllabus will tell you if knowledge from other courses is assumed.

Course Definitions
Sequenced Courses
101 and 201 level courses in one practice area
Additional Courses
Any other course outside of your two-course sequence
-C, -I, -U
Courses designed for specific geographies
C: Canada
I: International
U: United States
Cross Practice Courses
Contains material relevant to multiple practice areas

 

Corporate Finance and ERM 

CFE 101 Enterprise Risk Management

CFE 201 Corporate Finance

Group and Health Insurance 

GH 101 Benefits and Pricing

GH 201-U Valuation and Regulation, U.S.
or
GH 201-C Valuation and Regulation, Canada

GH 301 Health Analytics and Management

General Insurance

GI 101 Ratemaking and Reserving

GI 201 Operational, Financial, Regulatory and Legal

GI 301 Further Topics in General Insurance

GI 302 General Insurance in the U.S.

Individual Life and Annuities

ILA 101 Pricing and Introduction to Valuation and Risk Management

ILA 201-U Valuation and Advanced Product and Risk Management, U.S.
or
ILA 201-I Valuation and Advanced Product and Risk Management, International

Investment

INV 101 Portfolio Management

INV 201 Quantitative Finance

Retirement Benefits

RET 101 Retirement Plan Design

RET 201 Retirement Plan Valuation

RET 301 Actuarial Topics for Canadian Retirement Plans

Enrolled Actuaries Examinations - U.S. Only (EA-1, EA-2 Segment F, EA-2 Segment L2)

Cross Practice (relevant to multiple practice areas)

CP 311 Strategic Management

CP 312 Model Development and Governance

CP 321 Disability, Long-Term Care, and Long-Duration Health Contracts

CP 341 Advanced Life Reinsurance

CP 351 Asset Liability Management

All candidates must also complete the Decision Making and Communications (DMAC) Course and the Fellowship Admissions Course (FAC). You are eligible to register for the DMAC Course after earning your ASA. You will receive an invitation to participate in the FAC after you have completed all other FSA requirements.

Other Required Courses

Decision Making and Communications (DMAC) Course

Fellowship Admissions Course (FAC)

 

2 Completion of both the EA-2F and EA-2L exams gives credit for either RET 201 or one additional course. Other EA exams do not count towards credit in the FSA pathway.

Exam Transition Rules

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  • Every current exam awards credit for one course
  • All exams transition to a specific course or provide credit for one additional course

 

Module Transition Rules

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  • Three modules (except DMAC) award credit for one additional course
  • All three modules must be from the same track
  • Only one set of three modules can provide transition credit for one additional course
  • Modules must be submitted by December 31, 2025, to earn credit

 

 

View transition rules
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