Follow One Pathway to Earn Both an FSA and CERA

Most candidates pursuing a Fellowship (FSA) with the SOA have the option to receive a CERA credential on their path to FSA with just 2 additional exam hours.

This change has been made in response to a demand from employers and candidates for increased opportunities to build Enterprise Risk Management (ERM) skills. Candidates can still choose a route to FSA that includes only their chosen track or they can opt for an ERM pathway that results in both an FSA and CERA.


Here’s How It Works by Track


If you are following the:

Corporate Finance and ERM (CFE) track

Simply complete the requirements listed for this track. The CERA is automatically included with the completion of the CFE track.


Quantitative Finance and Investment (QFI) track

Complete the requirements listed for this track, but complete the ERM Exam instead of the Investment Risk Management Exam.


Individual Life and Annuities track

Complete the requirements listed for this track, but complete the ERM Exam instead of the Life Risk Management Exam.


Retirement Benefits track

Complete the requirements listed for this track, but complete the ERM Exam instead of the Retirement Plan Investment and Risk Management Exam.


Group and Health track

Complete the requirements listed for this track, but complete the ERM Module instead of the Health Foundations Module and complete the ERM Exam instead of the Group and Health Specialty Exam.


General Insurance track

Complete the requirements listed for this track, but complete the ERM Exam instead of the Advanced Topics in General Insurance Exam.


FSA Requirements Table (Requirements for all tracks)