FAP Transition Deadlines and Credit
The Society of Actuaries (SOA) is making changes to the Fundamentals of Actuarial Practice (FAP) e-Learning course beginning in January 2020. Read about these changes to the course here.
For critical details on FAP transition deadlines and credit, please refer to the FAQs below. The SOA will continue to update this FAQ as needed. Have additional questions? Contact the SOA Customer Service Center for help.
What if I Want to Finish FAP Before the Changes?
- Candidates who have already started FAP, or who are trying to finish FAP before the transition, must follow a strict timeline with key deadlines and limitations, outlined in the table below.
FAP Transition Deadlines Date Last day to purchase a limited extension for FAP. Even though these extensions will appear to be granted for one year, these extensions will expire on 3/31/2020, regardless of when FAP was purchased. 7/31/2019 Last day to purchase the current version of FAP 7/31/2019 Last day to submit current Interim Assessment and receive results in time to re-attempt before the final deadline. After 9/13/2019, candidates who submit the Interim Assessment will not be able to retake it without transitioning to the new FAP. 9/13/2019 Last day to submit current Interim Assessment 11/11/2019 Interim Assessment results released 12/20/2019 Last day to submit current Final Assessment and receive results in time to re-attempt before the final deadline. After 2/26/2020, candidates who submit the Final Assessment will not be able to retake it without transitioning to the new FAP. 2/26/2020 Last day to submit current Final Assessment 3/31/2020 Final Assessment results released for those who submitted their Final Assessment in the current FAP 4/30/2020
Am I Eligible to Transfer from the Current FAP to the New FAP?
- To be eligible for a transfer:
- Candidates must have purchased FAP after June 30, 2018.
- Candidates must not have an Interim Assessment or Final Assessment pending grading.
For those who transfer:
- There will be no additional charge for the modules.
- Eligibility will be extended through December 31, 2021, allowing a full 24 months to complete the new FAP.
- Transfer credit will be awarded according to the table below.
What if I Started in the Current FAP and Need to Finish in the New FAP?
- If candidates successfully complete the Interim Assessment or Final Assessment in the current FAP course, they will receive the appropriate transition credit for the new FAP course. The table below indicates transition credit details.
Credit in Current FAP Credit in New FAP End-of-Module Exercises 1-4 None End-of-Module Exercises 1-4 + Interim Assessment End-of-Module Exercises 1-4 + equivalent of Interim Assessment End-of-Module Exercises 6-7 No additional End-of-Module Exercise credit without passing the Final Assessment All End-of-Module Exercises, Interim Assessment + Final Assessment Full credit for FAP