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Edition

Validation by Educational Experience

Introduction

The SOA, CIA, and CAS Validation by Educational Experience (VEE) topics consist of the following subjects: Economics, Corporate Finance, and Applied Statistical Methods. These topics are no longer tested but are required in addition to the preliminary education component.

 

Candidates seeking the CERA designation must satisfy economics VEE subject. Candidates seeking the ASA or FSA designation must satisfy the VEE subjects of economics, corporate finance and applied statistics.

 

Candidates with credit for Course 2 earned prior to 2005 have been given credit for VEE–Economics and VEE–Corporate Finance topics. Candidates with credit for Course 4 earned prior to 2005 have been given credit for VEE–Applied Statistical Methods.

 

NOTE:  VEE topics are not prerequisites for the preliminary examinations. They need not be completed prior to writing any of the preliminary exams and may be fulfilled independently of the preliminary exam process.

 

How to Get VEE Credit

    • College Course(s)
      Complete the required VEE approved courses offered by a college or university. Candidates must receive a grade of B– or better in each course unless otherwise noted.
      Directory of Approved Courses/Experiences–Sept. 30, 2008
    • Standardized Examinations and Other Educational Experiences
      Achieve the required grade on an approved standardized examination or other educational experience. 
      Standardized Examinations and Other Educational Experiences List –Aug. 29, 2008

For more information visit the Approved Courses/Experiences for VEE Web page.

Step 1: Approval of Courses/Experiences

The VEE Administration Committee determines which college courses, standardized exams, and other educational experiences are approved for VEE credit. All approved courses/experiences will be listed in the Directory of Approved VEE Courses/Experiences or the Standardized Exams and Other Educational Experiences list available on the CAS, CIA, and SOA Web Sites. Each list identifies the educational institution, the approved courses/experiences by VEE topic, a unique approval code for each course/experience, and the years for which the courses/experiences were approved.

 

Before a candidate may submit an application to receive individual credit for a VEE topic, the course or educational experience itself must first be approved and listed in the Directory of Approved Courses/Experiences or the Standardized Exams and Other Educational Experiences list.

 

If a VEE Course/Experience does not appear on either list, approval must be requested by completing a VEE Course/Experience approval application and submitting it along with the required documentation. 

Step 2: Individual VEE Credits for Candidates

Candidates who have credit for at least two actuarial examinations with the SOA or CAS may submit an application for their own VEE credits. In addition to the application, candidates will be required to arrange for an official transcript to be submitted to the VEE Administrator. Only approved courses/experiences listed in the Directory of Approved Courses or the Standardized Exams and Other Educational Experiences list may be used for VEE credit.

 

Candidates may combine two approved courses/experiences to complete a VEE topic requirement.  For example, an approved microeconomics course from a university may be combined with an approved macroeconomics course from another school or provider.  Likewise, an approved regression course may be combined with an approved time series course from two different providers.  In these cases candidates should include approval codes from both approved courses on their individual VEE credit application form. Corporate finance courses must be completed in the combinations shown in the directory. No alternate combinations will be accepted without an additional course approval application process.

 

Please note: 

Candidates may not submit VEE credit applications for partial credit (e.g., an already approved regression course may not be submitted alone, but must be accompanied on the same application by an approved time series course).  Candidates may not submit an application for VEE credit for a topic until they have completed all requirements for that topic

 

Once a candidate’s individual credit application and documentation of the required grade on an approved course/experience has been validated, credit for the specific VEE topic will be granted. The candidate will be sent a written response to each application.

 

For candidates with credit for Course 2 and/or 4 earned prior to 2005, SOA grade slips and transcripts will show credit for Course 2 and/or 4 only. The VEE credit earned as part of these courses is included in the Course 2 and/or 4 credit. It will not appear as a separate VEE credit.

 

VEE credits will appear on a transcript or grade slip for candidates who attained VEE credit in 2005 or later. However, a grade slip will show only credit attained by the date of the most recent exam taken.

 

Other questions may be e–mailed to vee@soa.org.