What to Expect During the Fellowship Admissions Course (FAC)
The SOA offers the Fellowship Admissions Course (FAC) in a fully remote (e-Learning module + virtual session) format and in a hybrid (e-Learning module + in-person session) format. Each FAC runs over approximately a 6-week timeframe.
Topics
The professional ethics case studies included in the facilitated sessions reflect actual situations that actuaries have encountered. The cases represent problems from any specialty or type of practice, which could be encountered by actuaries.
A communication skill-building course is embedded withing the FAC e-Learning module and offers methods, guidelines and tips for effective presentations.
Professionalism, as a crucial element of successful actuarial practice, is also a focus of the FAC e-Learning module.
Components
The FAC includes two components – an online e-Learning module and either a virtual meeting session component or a 2-day in-person component with a banquet.
Component #1: E-Learning Module
Candidates are given access to an e-Learning module that they complete on their own. All FAC Candidates complete this component.
Module(s) will include topics such as professionalism, legal duty, code of conduct, ethics and communication skills.
Component #2: Synchronous Meeting
The second component of the FAC is either a one-day virtual meeting (remote) or a 2-day meeting with a banquet (in-person). Both the virtual meetings and in-person meetings will include discussions of ethics case studies and individual candidate oral presentations
All candidates are required to give an 8-12-minute presentation either on the topic from their DMAC project or on an actuarial business case that has at least one actuarial stakeholder and one non-actuarial stakeholder. The passing requirements for the presentations include 1) appropriateness of the topic, 2) the length of the presentation and 3) effort/preparation.
In the virtual meeting, groups of 8-10 candidates and one facilitator meet via a designated virtual meeting platform.
In the in-person meeting, candidates attend and participate at designated venue in large and small group settings.
FAC Course Faculty
FAC faculty members are actuaries with extensive experience in the actuarial field and in the management of organizations. All faculty members have been trained in the case method utilized during the FAC.
Diplomas
Diplomas will be mailed to candidates who participate in the fully remote/virtual FAC after the successful completion of both components. Candidates who complete the course at an in-person FAC will receive their diplomas on site.