Validation by Educational Experience (VEE) Frequently Asked Questions
Updated May 20, 2022
For more information please see the VEE Home Page on the SOA website.
General Questions
Why VEE?
Validation by educational experience (VEE) was added to the Associateship requirements beginning in 2005. Validation through the VEE process is appropriate for topics that are either best learned in a classroom environment or are considered important, but not core to actuarial work.
How does the VEE process work?
Candidates seeking to attain membership with the SOA are required to complete the VEE requirements for the following three topics in addition to passing exams and other membership requirements:
- Economics
- Accounting & Finance
- Mathematical Statistics
Most candidates can receive VEE credit by showing that they have successfully completed (grade of at least B- or accepted equivalent) VEE-approved university courses or alternate educational experiences found in our VEE Directory of Approved Courses and Alternate Options.
I already have credit for VEE Applied Statistics and VEE Corporate Finance. Do I have to get credit for VEE Accounting & Finance and VEE Math Stats too?
No. You will only need to complete VEE Economics to finish your three VEE requirements. VEE Applied Stats gives you transition credit for the SRM exam and VEE Math Stats. VEE Corporate Finance gives you transition credit for VEE Accounting & Finance.
What are the requirements to apply for VEE credit?
A candidate is eligible to submit a VEE Candidate Credit Application once credit for at least two of our actuarial exams appear on the SOA online transcript. While unofficial pass/fail results are available at the conclusion of CBT exams, the results are official only when added to your SOA online transcript. More information on the process and the applications can be found on the VEE Home Page.
VEE Online Order Questions
Can I checkout with more than one VEE topic at a time?
No. You may only submit one VEE topic order at a time. You will have to click on each VEE topic link to create each new order.
Can I pay with a check if I’m entering an order online?
No, online orders must be paid for with a credit card. You must submit a paper application if you will be paying by check.
I’m applying online and have come across some glitches in the system and can’t complete my order, what should I do?
Sometimes having multiple internet browsers or tabs with SOA website windows open can cause issues when placing your VEE order. Please close out of all unnecessary browser windows and tabs and start again. Do not keep any other SOA website windows open during the checkout process, as the information may get crossed in the system and cause information to be displayed incorrectly. We are working on a solution to this issue.
VEE Candidate Credit Application Questions
How long will it take to get a response on my VEE Candidate Credit order?
The typical processing time after the receipt of the transcript(s) is two to four weeks. During times of high volume, processing times may increase up to six weeks. It is the candidate’s responsibility to submit orders early enough to allow sufficient time to meet any personal deadlines. We process VEE credit applications in the order received (once all transcripts are received) and will not take requests to expedite orders.
I’ve received a confirmation email, why don’t the VEE credits appear on my SOA transcript yet?
Candidates receive two confirmation e-mails. The first is sent when we receive the application and the payment has been processed. The second confirmation will be sent when the VEE credit has been approved and added to your SOA transcript.
Why do I have to wait until I have credit for two SOA exams before I can submit my application for VEE Candidates Credit?
Many candidates pass only one actuarial exam and then decide not to pursue an actuarial career. Reducing the volume of requests by limiting the process to those with credit for two or more exams helps to keep the review and response time at a reasonable level.
What kind of documentation is needed to receive VEE Candidate Credit for a VEE topic? Do you need my university transcript?
Candidates may place an online order for VEE credit or mail a completed VEE Candidate Credit paper application along with payment to the address noted on the form. Candidates are required to submit official original transcript(s) from all the universities/institutions where your courses were taken. We do not accept transcript copies, school grade reports, or unofficial transcripts printed from a university website or sent electronically from the candidate. Note: Grade records for Coaching Actuaries, ACTEX, The Infinite Actuary, and NEAS are sent directly to the SOA; you do not need to submit a transcript if applying for VEE credit using those courses.
Ask your university/institution to send an official paper transcript or request that a secure electronic transcript be sent. Please note electronic transcripts must be sent directly from the university to vee@soa.org, we will not process any transcripts forwarded to us.
Note: After your transcript has been processed, we will not keep it on file due to privacy and security reasons. It is best to apply for all of your VEE credits at one time (in separate orders) to avoid needing to request your transcript be sent multiple times. However, all topics do not have to be submitted at the same time.
Paper transcripts should be mailed from the university to:
VEE Administration Committee
Society of Actuaries
8700 W Bryn Mawr Ave, Suite 1000
Chicago, IL 60631
Electronic transcripts should be sent from the university to:
I am applying for all three VEE topics using courses taken at the same university. How many transcripts do I need to send?
If you submit all of your VEE orders on the same day, one transcript is sufficient. After your transcript has been processed, we will not keep it on file due to privacy and security reasons. It is best to apply for all of your VEE credits at one time (though in separate orders) to avoid needing to request your transcript be sent multiple times.
VEE Approved Courses and VEE Directory Questions
Can I combine courses/experiences from more than one university or institution to complete a VEE topic requirement?
Yes. Candidates may combine approved courses/experiences to complete a VEE topic requirement. Courses may be offered at the same school, different schools, or an alternate VEE option provider.
- VEE Economics – An approved microeconomics course may be combined with any other approved macroeconomics course to fulfill the VEE Economics topic. When two components are required, the microeconomics component is entered first, followed by the macroeconomics component.
- VEE Accounting & Finance – An approved accounting course may be combined with any other approved finance course to fulfill the VEE Accounting& Finance topic. When two components are required, the Accounting component is entered first, followed by the Finance component.
- VEE Mathematical Statistics – When more than one course is listed in the Directory for VEE Mathematical Statistics, the courses must be completed in the combinations shown. However, you may request alternate combinations by submitting a VEE Course Approval application.
In the VEE Online Directory of Approved Courses and Alternate Options, what do the “Begin Date” and “End Date” mean?
The time between the Begin and End Dates, is the time period for which a course is approved. You may only apply for VEE credit with the specific course if you have taken the course during that time.
What does the information mean in the last column (Additional Requirements) of the VEE Online Directory of Approved Courses and Alternate Options?
The last column indicates whether any requirements are needed in addition to the course shown in that row. For example, it may be approved for only the Microeconomics component and advise that you must pair that course with a Macroeconomics course for VEE Economics credit. If it states, “No Additional Requirements,” that indicates that the course in that row fulfills the complete VEE topic requirement and no additional courses are needed. You may also see, “Courses must be completed in the Combination shown.” This means that all courses under the main approval code must be taken in order to satisfy that VEE component.
How can I get credit for a course taken before or after the approved timeframe?
If a VEE course approval timeframe does not match the date you took the course, a request can be made to get the date extended. We can extend the timeframe for an approved course (either backward or forward) without a full review if we receive confirmation from a university representative that the course was/is offered with essentially the same syllabus during the timeframe requested.
You will need to ask an instructor of the course or a department chair who is familiar with the course content to submit a VEE course renewal form if the course syllabus remains the same during the requested extension time period. Courses may only be extended into the future for up to three years if still being offered.
Please contact us at vee@soa.org for the renewal form. The form must then be submitted directly from the university representative to vee@soa.org. The topic coverage needed is provided in the VEE Guidelines at http://www.soa.org/files/edu/edu-vee-guidelines.pdf.
If this is not possible, you will need to submit a new Application for VEE Course Evaluation, but this will require a syllabus from the time you took the course.
Can I use a course that seems to fulfill Vee credit, even though it doesn’t appear in the online directory of approved courses?
Candidates whose courses are not listed in the Directory may apply to have their courses approved by the VEE Administration Committee at any time. In this case you will need to apply for VEE course approval by completing the VEE Course Evaluation Application. Please review the Guidelines for Course Approval before submitting an application to make sure all necessary requirements are met.
I’ve applied for a VEE Course Evaluation, can I use that course to apply for VEE credit?
Not until the course has been approved and appears in the VEE Directory.. If you have submitted a Course Evaluation Application, please wait for course approval before submitting your VEE Candidate Credit Application.
Can I submit my Micro course now and my Macro course later when I’ve completed it?
No. Candidates may not submit VEE credit applications for partial credit (e.g., an approved accounting course may not be submitted alone, but must be accompanied in the same application by an approved finance course). Candidates may not submit an application for VEE credit for a topic until they have completed all requirements for that topic.
Can I use transferred courses for VEE credit?
Transferred courses may be used for VEE credit if the accepting university has applied for and received VEE approval for the course(s) for which you were given transfer credit. When submitting an online VEE Candidate Credit Application, please use the grading scale equivalents used by the university that accepted the transfer credit. The following documentation is required:
- An original official transcript from the school where the course was completed that shows a grade of B- or better (or accepted equivalent), and
- An original official transcript from the accepting university that shows credit for the approved course listed in the VEE Directory. If the transcript from the accepting university lists only a total number of transfer hours and not the name and number for the course for which you were given credit, you will also need to provide a letter/document from the registrar of the accepting university that indicates the name and number of the course for which you were given credit.
The acceptable grade options do not reflect the scale used at my university. How do I place my VEE candidate credit order?
The grading scale requirement can be updated if we receive documentation published by the university or an email from a university representative (faculty or Office of the Registrar). Email directly to vee@soa.org.
I took a course as Pass/Fail or Credit/No Credit. Can I use it for VEE?
A candidate who has passed an approved VEE course on a credit/no credit basis may receive VEE credit if they provide a letter from the instructor stating that the candidate actually scored a B- or better (or accepted equivalent) in the course, in addition to the original official transcript.
Are there exceptions to the above pass/fail rule for courses taken during the pandemic?
The VEE Administration Committee made a temporary change to VEE required grades in limited situations. Due to many universities offering or requiring a pass/fail score on spring and summer 2020 courses, the VEE Administration Committee is accepting for VEE credit a pass/satisfactory mark or a grade of C or better on transcripts for the spring and summer 2020 semesters only. While the standard VEE policy accepts a passing score on a pass/fail course if the candidate’s professor can provide a letter that a B- or better was earned, we will not require that letter for the Spring and Summer 2020 courses. Please direct any questions to vee@soa.org.
I applied for VEE credit last year, so you already have a transcript from my university. Do I need to send another transcript with my current application or do you still have it?
After your transcript has been processed, we will not keep it on file due to privacy and security reasons. It is best to apply for all of your VEE credits at one time (in separate orders) to avoid needing to request your transcript be sent multiple times.
All VEE topics do not have to be submitted at the same time, but then a new transcript must be provided each time you send a VEE candidate credit application.
What score on standardized exams is required for VEE credit?
The required score for each approved standardized exam is posted in the VEE Directory in the Alternate VEE Options area.
Can I use AP Exams to receive VEE credit?
Yes, the AP Microeconomics and Macroeconomics exams are approved for VEE Economics credit. The accepted scores are a 4 or 5. The exams are located in the VEE Directory in the Alternate VEE Options area.
Other Questions
I have credit for VEE Applied Statistics on my SOA transcript. Do I receive transition credit for the SRM exam and VEE Math Stats?
Our database is configured such that all education systems are in the database together. We do any transition conversions behind the scenes programmatically. If you have to explain this to anyone you should use this link from our website showing the conversion between the previous system and the current system: https://www.soa.org/Education/General-Info/2016-transition-rules-asa-candidated.aspx
Do I have to go back to university to get VEE credits?
No, there are other options such as standardized exams and online courses have been approved for VEE credit. These options are listed in the VEE Directory in the Alternate VEE Options Area.
Do I need to fulfill the VEE requirements before taking the preliminary exams?
No. VEE topics are not prerequisites for the preliminary examinations. They need not be completed prior to writing any of the preliminary exams or beginning the FAP. In fact, a candidate may not submit an application for VEE credit until at least two exams have been passed and appear on the SOA online transcript.
Can courses from previous SOA Education systems be used for VEE credit?
Please contact our registrar, Brett Rogers at brogers@soa.org with questions about previous exam system credit.
Can an Independent Study course be used for VEE credit?
An independent study for a course that has received VEE approval is acceptable for VEE credit. The independent study course number must be the same as that of the actual approved course and a grade of B- or better must be documented. If the course number varies from that of the approved course, a separate course approval evaluation process will be required before credit can be applied.