Spring 2008 Basic Education Catalog

Spring 2008 Basic Education Catalog

Conversion Mapping

The following table outlines the conversion mapping and additional rules for the implementation of the new education system. Exams P, FM, M and C are now implemented. The Fundamentals of Actuarial Practice (FAP) modules and exams will be offered starting in 2006 followed by the implementation of the FSA level components (examinations and modules) in 2007. Candidates who have exam credit dating prior to 2000 and who are interested in receiving information on prior conversions should contact Brett Rogers, the SOA Registrar at brogers@soa.org.

With Credit for Current Course Will Receive Credit for New Req/Exams/Modules  
1 Exam P, Probability
2 Exam FM, Financial Mathematics,
VEE Economics, VEE Corporate Finance
3 Exam M: Life Contingencies (MLC)
and M: Financial Economics (MFE)
4 Exam C, Construction and Evaluation
of Actuarial Models, VEE Applied Statistics
5 FAP Modules 1 through 5 and FAP exam 1
6 FSA Modules, excluding capstone module
7 FAP Modules 6 through 8,
FAP Final Assessment, and FSA capstone module
Either 8 or PD, but not both Exam DP, Design & Pricing, from the same
practice area as the Course 8 or stated
in the PD plan
8 and PD Exam DP, Design & Pricing and Exam CSP,
Company/Sponsor Perspective from the same
practice area as the Course 8

Additional rules and considerations:

Credits earned prior to 2000 will first be converted to the current system before applying this conversion map to determine credits under the new system.

  • All candidates with the ASA designation will retain that designation. However, in order to obtain an FSA, the candidate will need to have credit for all of the educational requirements including all portions of the new FAP Course.
  • Candidates will be able to earn an ASA using the current courses and ASA rules through 2006. The APC may be taken at any time following completion of the prerequisite courses. The FAP Modules, FAP Exams, new FSA Exams and FSA Modules may not be used to satisfy any part of the current ASA requirements.

  • Credit for the FSA capstone module does not give credit for the FAC.

  • Depending on his or her individual record, a candidate who is not an ASA may earn credit for certain FSA Exams or Modules through conversion. However, all of the ASA requirements must be met in order to achieve the ASA designation.

  • Effective January 1, 2006, if a candidate has PD credits because of the 2000 conversion, they may file and execute their PD plan ahead of meeting the normal filing requirements.

  • Unused PD credits earned from passing the pre-2000 Course 120 (Applied Statistical Methods) will be used for the validation of Applied Statistics. These PD credits may not be used to satisfy any other requirements.

  • Please visit the Transition Information for Retirement Benefits track candidates web page for how the EA designation will be incorporated into the educational requirements for U.S. Retirement Benefits candidates. Canadian Retirement Benefits candidates who do not yet have credit for Course 8P or 8RC may also wish to review that information for conversion details pertinent to the

Candidates with questions on the education redesign may contact eq2005@soa.org.