Principles for SOA Prequalification Education

Approved by the SOA Board of Directors March 2018

  1. Education Principle: Develop actuaries with a global perspective who are able to deliver a service of quality and high standards that meets the current and projected future needs of employers, clients, and the public.
  2. Attraction Principle: Attract candidates who likely to become successful actuaries.
  3. Coverage Principle: Ensure coverage of core topics common to all actuarial disciplines, as well as topics related to specialty requirements and to the emerging needs of the profession, so as to prepare actuaries to take on their chosen role(s) in a variety of different areas of actuarial practice and geographies.
  4. Foundation Principle: Provide FSA candidates, regardless of geography, a globally relevant education that allows mobility in the global workplace and the ability to practice in specific jurisdictions, particularly in the US or Canada.
  5. Global Recognition Principle: Recognize that candidates are located throughout the world and that SOA designations and credentials have worldwide respect.
  6. Competency Framework Principle: Incorporate the elements of the SOA Competency Framework as appropriate.
  7. Learning Methods Principle: Achieve quality learning by using the best and most appropriate methods available.
  8. Assessment Methods Principle: Select assessment methods that are appropriate for the subject matter and effectively discriminate between candidates who have and who have not met the standards set for the material being assessed.
  9. Language Principle: Provide pre-qualification exams only in English, except where required by law and sufficient demand exists.
  10. International Organizations Principle: Conform to education guidelines of the International Actuarial Association (IAA) and the Global CERA treaty, and other guidelines as directed by the SOA Board.
  11. Designations Principle: Recognize that SOA designations and credentials are used for qualification purposes other than SOA membership.
  12. Stakeholders Principle: Consider the perspectives of key stakeholders, including candidates, members, employers, and the public.