Edition

Archive Spring 2012: Requirements for Admission to the SOA

This overview of actuarial education is intended for those who are not currently pursuing an SOA designation. It is edited to be informative, not definitive. Detailed information on SOA educational requirements (e.g. syllabi, study materials, fees, exam dates, times, and locations) can be found under Education.

Associateship (ASA)

    1. Who may be admitted

Anyone pursuing actuarial studies may apply for admission to the SOA. If the BOD approves the Application for Admission as Associate, the candidate will be enrolled as an Associate of the Society of Actuaries (ASA) after completing the educational requirements as prescribed by the BOD, subject to any further requirements that the BOD may prescribe. Membership dues are not charged until the Application is accepted and all requirements prescribed by the BOD have been satisfied.

    1. When and how to apply

The Application for Admission as Associate is separate from the candidate's exam registration and will be issued to candidates at the Associateship Professionalism Course (APC). All candidates attending the APC will be required to fill out the Application for Admission as Associate and turn it in to the APC faculty prior to completing the course. Canadian candidates for Associateship in the SOA attending the CIA's Professionalism Course will also be required to fill out the Application for Admission as Associate and turn it in to the CIA Professionalism Course faculty prior to completing the course. Any questions regarding the application should be directed to the Membership Services Administrator at 847.706.3532.

    1. ASA Requirements

There are two pathways to attain an ASA designation. One pathway is for a candidate to complete successfully the requirements shown here and have the Application for Admission as an Associate approved by the SOA Board of Directors.

An alternative pathway to the ASA designation is for a candidate to complete successfully the requirements to attain a CERA credential shown here and have the Application for Admission as an Associate approved by the SOA Board of Directors.

Fellowship

    1. FSA Requirements

A candidate will be admitted as a Fellow of the Society of Actuaries (FSA) after completing the Fellowship educational requirements as shown here.

The FAC is required of all candidates for Fellowship (see Section 2c for a possible exception in limited circumstances). Candidates may not attend the Fellowship Admissions Course (FAC) until they have completed all other Fellowship educational requirements.

    1. Mutual Recognition: The FSA designation may also be granted to Fellows of the Institute of Actuaries, Faculty of Actuaries, Institute of Actuaries of Australia and the Society of Actuaries in Ireland via the terms of our Mutual Recognition agreements with these organizations. Individuals seeking Fellowship via Mutual Recognition must meet the following requirements:
      1. have attained Fellowship in the Institute, the Faculty, the Institute of Australia or the Society of Actuaries in Ireland by examination and not in recognition of membership of another actuarial association;
      2. be a Fellow in good standing of the Canadian Institute of Actuaries (CIA), or Member in good standing of the American Academy of Actuaries (AAA), or full member in good standing of other actuarial associations designated from time to time by the Society of Actuaries Board of Directors;
      3. have attended and passed the Society of Actuaries Fellowship Admissions Course (FAC), or its equivalent as recognized by the Society of Actuaries, in the five years prior to application;
      4. have satisfied the Society of Actuaries Professional Development (PD) requirements, or its equivalent as recognized by the Society of Actuaries, in the five years prior to application.

 

Individuals seeking additional information regarding Mutual Recognition should contact Brett Rogers.

Correspondence

Inquiries regarding exams, study materials, registration, etc., should be sent to:

  • customerservice@soa.org
  • Phone: 888.697.3900
  • Fax: 847.273.8529
  •  
  • Society of Actuaries
  • Customer Service
  • 475 North Martingale Road, Suite 600
  • Schaumburg, Illinois 60173–2226 U.S.A.

Individuals may also write to education@soa.org with non–routine Education related inquiries. These inquiries will be directed to the appropriate staff member or department.