SOA - Categorization Criteria

Curriculum Program Characteristics  
  (Courses must be taught at least once during every two academic years; but need not be required for any particular degree.)
Introductory Undergraduate Includes courses, other than independent study courses, that cover all the topics
  • On the CAS/SOA Probability (P) actuarial examination
  • In introductory micro and macro economic courses
  • In an introductory financial mathematics or interest theory course
A faculty or staff member responsible for advising students and maintaining current knowledge of the actuarial profession
Advanced Undergraduate

Includes courses, other than independent study courses, that cover all the topics on the CAS/SOA Probability (P) and Financial Mathematics (FM) actuarial examinations plus at least 12 semester hours, or the equivalent, of courses covering topics on the CAS Statistics and Actuarial Models examination or the SOA Actuarial Models (M) examination AND the CAS/SOA Construction and Evaluation of Actuarial Models (C) examination; the latter topics must include contingent payment models, and frequency, severity and aggregate claims models

Includes courses that have been approved by the actuarial organizations for Validation by Educational Experience (VEE) credit for the topics of Economics (Micro and Macro), Corporate Finance, and Applied Statistics

An organized actuarial program with a set of requirements for completing the program. This may be a major, a concentration, or whatever is appropriate in the organization of the particular school, but does lead to the student earning a bachelors degree. An interdisciplinary approach may be necessary at schools that do not have a large enough population of students or income generated from the program.
Graduate Education

Includes courses, other than independent study courses, that cover all the topics (either directly or as a prerequisite) on the CAS/SOA P, FM, C examinations AND the CAS Statistics and Actuarial Models examination or the SOA Actuarial Models (M) examination

Includes courses that have been approved by the actuarial organizations for Validation by Educational Experience (VEE) credit for the topics of Economics (Micro and Macro), Corporate Finance, and Applied Statistics

An organized actuarial program with a set of requirements for completing the program. This may be labeled an actuarial science degree, or the degree may be in a related area such as finance, business, risk management, insurance, or statistics, but does lead to the student earning a masters degree.
Graduate Education & Research

Includes courses, other than independent study courses, that cover all the topics (either directly or as a prerequisite) on the CAS/SOA P, FM, C examinations AND the CAS Statistics and Actuarial Models examination or the SOA Actuarial Models (M) examination, plus at least 6 semester hours, or the equivalent, of courses covering advanced actuarial science-related topics; such topics include topics covered on the higher numbered CAS or SOA examinations and other relevant topics such as stochastic calculus, demography, and social insurance

Includes courses that have been approved by the actuarial organizations for Validation by Educational Experience (VEE) credit for the topics of Economics (Micro and Macro), Corporate Finance, and Applied Statistics

An organized actuarial program with a set of requirements for completing the program. This may be labeled an actuarial science degree, or the degree may be in a related area such as finance, business, risk management, insurance, or statistics, but does lead to the student earning a masters or doctorate degree.

Must have an active research program in actuarial science or in a related area, including dissemination of research results through seminars, workshops and working papers. The actuarial science faculty collectively has produced papers that have been accepted for publication in recognized refereed journals in the last 3 years.