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SOA CPD Requirement: Sections A-D - Frequently Asked Questions

Section A: General Requirements

 

Section B: Basic Requirement Provisions

 

Section B: Structured Credit

 

Section C: Alternative Compliance Provisions

 

Section D: Certification of Compliance

 

Section A: General Requirements

When did the SOA CPD requirement take effect?

The CPD requirement took effect in 2009. All FSAs, ASAs and CERAs must meet the requirements.

What am I required to do to meet the SOA CPD requirement?

Members must attest annually to compliance over the last two calendar years, and compliance is disclosed in the joint directory of actuarial memberships. While members are not required to complete the requirement, members who do not complete the requirement are considered "non-compliant" and must disclose their non-compliance to those who rely on their actuarial expertise.

I'm already subject to another requirement (e.g. the U.S. Qualification Standard, the CIA Qualification Standard, the U.K. CPD Scheme or the IAAust Standard). Do I have to comply?

  • Yes, but all four of the standards listed are acceptable alternative compliance standards. The SOA accepts compliance with those standards in place of the SOA CPD requirement.
  • See Section C.

I just completed my ASA, but I am still taking exams. Do I still have to comply?

  • Members are not required to begin earning CPD credits until the calendar year following the year of attainment of their first credential. You are not subject to reporting until the end of the second full calendar year after you attain your first credential.

Example: A new associate earns her ASA credential in spring 2011. She is not required to begin earning CPD credits until 2012, and her first required certification of compliance would be Dec. 31, 2013.

My SOA credential was earned through mutual recognition (with the Faculty of Actuaries, Institute of Actuaries or the Institute of Actuaries of Australia). Do I still have to comply?

  • Yes, all SOA members must comply.
  • You do not have to start earning credits until the year after your credential is granted by mutual recognition.
  • You are able to use Categories 1 or 2 of the U.K. CPD Scheme or the IAAust CPD Standard (as applicable) as a method of alternative compliance ( See Section C).

Example: John Doe is a Fellow of the Institute of Actuaries. His SOA FSA was granted through mutual recognition in 2008. He had to comply with the SOA CPD requirement as of Jan. 1, 2009. He could have complied, if he wanted to, with Category 1 or 2 of the U.K. CPD Scheme each year as a method of alternative compliance. He had to certify compliance for the two-year cycle that ended Dec. 31, 2010.

Previously, I dropped my SOA membership and am now applying to be reinstated. How does the CPD requirement affect me?

  • When you are reinstated you become immediately subject to the CPD requirement.
  • When reinstated, you must report CPD compliance status on the Dec. 31 immediately following reinstatement.
  • In addition, if you are reinstated after CPD compliance reporting has begun, your member status in the membership directory will list "Non–compliant". If you are able to demonstrate compliance at the time of reinstatement, the status can be updated.
  • You will be able to be reinstated as "Compliant" with the SOA CPD requirement if you are able to demonstrate having completed a full cycle of CPD at the time of reinstatement.

Example: Jane Doe dropped her SOA membership in 2011 and applied for reinstatement in 2016. She was given the option to reinstate "Non–compliant" or if she demonstrated that she completed one full cycle of CPD, she could reinstate as "Compliant." She was able to demonstrate that she earned 60 units of CPD during the past two years to meet the Basic Requirement Provisions of Section B and was reinstated "Compliant" during 2016. She also had to certify compliance with the CPD requirement on Dec 31, 2016 and every year thereafter.

 

Section B: Basic Requirement Provisions

How does the two-year rolling cycle work?

  • As of every Dec. 31, you certify that during the past two calendar years, you earned enough CPD credit to fulfill the most recent two-year requirement.
  • Credits earned in a given year will be considered in two CPD cycles.
  • For example, credit earned during 2015 was considered for the cycle ending in 2015 and for the cycle ending in 2016.

 

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With a rolling two-year cycle, members must ensure they have met the requirement for each two-year period.

Example:

  • John Doe follows the Basic Requirement Provisions of Section B.
  • He must earn 60 units of CPD credit for each rolling two-year cycle, beginning with the cycle ending Dec. 31, 2010.
  • He earns 20 units of CPD credit during 2009 and 55 units of CPD credit during 2010.
  • He has 75 units of CPD credit for the cycle ending Dec. 31, 2010.
  • John Doe earns 8 units during 2011.
  • He has 63 units of CPD credit for the cycle ending Dec. 31, 2011.
  • He must earn an additional 52 units of CPD credit during 2012 to have 60 units of CPD credit for the cycle ending Dec. 31, 2012.

How is a unit defined?

  • Units are 50 minutes long.
  • When determining credit, partial hours are considered.
  • For example, 60 minutes of structured or self-study time equals 1.2 units; 90 minutes of structured or self-study time equals 1.8 units of credit.

What topics am I required to cover?

  • The CPD requirement encompasses job-relevant topics and business and management skills.
  • The requirement sets targets in each category to ensure a balanced education, but you are free to determine the amount of education you will complete in each category as long as you adhere to the minimum and maximum standards.
  • As part of your job-relevant credits, you need to complete three units of professionalism.

What are the requirements for professionalism credit?

  • Three units of professionalism must be earned in a structured setting every cycle.
  • Because professionalism and professional standards are the foundation of actuarial practice, it is critical that all actuaries understand their application.
  • Also, because there must be no misunderstanding about their application, it is important that professionalism units be earned in a structured setting rather than through self-study to allow actuaries to interact with and learn from each other regarding their application.
  • Therefore, you must have at least three units of structured credit in professionalism during a two-year cycle.
  • You are encouraged to earn more professionalism credit, either through structured or self-study settings.

Are any specific courses required? Are any specific topics excluded?

  • No, the CPD requirement is designed to maintain your skill level as you practice, so topics should relate to the skills you need to do your job.
  • For some actuaries, like those in management roles, non-technical, job-relevant topics will make up the bulk of their job-relevant credit.
  • For others, non-technical topics are important for future development but shouldn't make up the bulk of CPD units earned.

Will members in certain practice areas have practice-specific requirements?

  • No, SOA sections might elect to develop lists of appropriate topics or paths of study applicable for you, including reading lists and suggestions for self-study.
  • These reading lists would be suggestions only for you.

Can I complete the entire CPD requirement through self-study?

No, you must earn at least 50 percent of your credits, or 30 units per cycle, in structured education.

What are job-relevant topics for me?

  • These typically include both technical and non-technical topics.
  • Examples of technical topics include actuarial, mathematical, modeling, legal, legislative and regulatory skills. It also applies to similar skills core to the work of actuaries and specific to your role or practice area.
  • Job-relevant topics also include non-technical skills, particularly for those in management roles or aspiring toward management roles, including market and industry trends, business cycles and national and global economic issues.
  • Job-relevant topics will vary from actuary to actuary based on the nature of your job, your area of practice, position and aspirations.
  • For some actuaries, such as those in management roles, non-technical topics will make up the bulk of their job-relevant credit since these topics are critical to their role.
  • For others, non-technical topics are important for future development but should not comprise the bulk of CPD units they earn.

What does professionalism include for me?

  • Professionalism encompasses the professional and ethical standards the public, and those who employ actuaries, expect actuaries to follow in carrying out their obligations.
  • The Actuarial Code of Professional Conduct (United States), Rules of Professional Conduct (Canada) and Actuarial Standards of Practice (ASOPs) are examples of professionalism.
  • Professionalism also covers general business ethics.

Professionalism seems narrowly defined to cover just ASOPs and U.S. and Canadian Codes of Professional Conduct. What else constitutes professionalism?

  • The ASOPs and U.S. and Canadian Codes of Professional Conduct are cited as examples of professionalism topics.
  • This is designed to allow a wide range of professionalism topics for you, including but not limited to ethical issues regarding: fiduciary responsibilities, corporate governance, discrimination in hiring/workplace, price-fixing/monopolistic practices, intellectual property rights, business intelligence and ethical standards/practices around the world.

I use my SOA credential in my non-traditional actuarial role. Does my job-relevant credit have to meet the criteria for a traditional actuarial role when my job is non-traditional?

  • No, you do not have to get continuing education in traditional actuarial topics to fulfill your CPD requirement.
  • Job-relevant CPD is defined as that which broadens or deepens your knowledge of work required for your current role, related disciplines or a new area in which you contemplate practicing.
  • Job-relevant CPD for actuaries in non-traditional positions will be different from job-relevant CPD for actuaries in traditional roles.

Who determines what education is job-relevant?

  • Ultimately, you define the CPD activities that are relevant to your development and the appropriate balance of technical and non-technical job-relevant topics you believe are necessary.
  • The requirement defines continuing education as job relevant if it broadens or deepens your knowledge of work required for your current role, in related disciplines that bear directly on your work, or in a new area in which you consider practicing in the future.

What are business and management skills?

  • Business and management skills are the skills necessary for success because these skills improve your personal effectiveness and ability to succeed in a diverse business environment.
  • These skills include business writing, speaking, people management, negotiation, influencing, project management and leadership skills.
  • You are encouraged to have these skills, but these skills are not in the CPD requirements.
  • The amount of business and management skills you should take depends on your job and your level of expertise in business skills.
  • The maximum amount of the CPD requirement that can be satisfied by business and management skills is 15 units per two-year cycle.

What professional development counts as self-study?

  • Many activities count as self-study, with the only exception being normal work duties.
  • Acceptable self-study activities include, but aren't limited to, reading actuarial literature, statutes or regulations; reading books, papers or articles on relevant technical or professional topics; writing professional papers or articles; studying for actuarial exams; preparing presentations; research or distance learning.
  • Self-study requires a reasonable degree of thought and would exclude "normal" reading such as newspapers, e-mail news updates, internal company memos or process documents.

If I make a presentation at a professional event (including an employer-sponsored event), will that count toward my CPD requirement?

Yes, writing the presentation counts as self-study time, while the actual presentation counts as structured credit.

Example:

  • Jane Doe will be part of a panel presenting on principle-based reserving for her local actuarial club.
  • She spends three hours preparing the presentation.
  • Jane Doe presents her material, along with other members of her panel, at her actuarial club meeting, which lasts 1.5 hours.
  • For this presentation, she earns 3.6 units of job-relevant self-study credit and 1.8 units of job-relevant structured credit.

I volunteer for an actuarial organization. Can I get credit toward the CPD requirement if I volunteer for an actuarial organization?

  • Your volunteer time with an actuarial or other professional organization qualifies to the extent that your activity is job-relevant or relates to business or management skills.
  • If your volunteer activity also involves interaction with other volunteers (such as a meeting or conference calls), it qualifies as structured, job-relevant credit.
  • For example, if you participate in research project oversight groups in which you read and review papers related to your area of practice, you'll receive self-study credit for the time spent reading and reviewing the papers and structured credit for any conference calls or meetings discussing the papers.
  • If you plan an organizational social event, you will not earn CPD credit for that work, since it is not job-relevant.

Why does the CPD requirement only consider volunteer activities with a "professional organization" or CPD credits earned at a "professional meeting"?

  • This language is used primarily to distinguish those activities that are related to your profession with other personal interests and activities.
  • Professional activities have many dimensions: they can relate to the actuarial profession, your industry, your clients' industries or other aspects of your job.
  • Personal activities, such as volunteering at schools, houses of worship, food pantries or other organizations, do not relate to the maintenance of your professional skills.

When would my on-the-job professional development be considered an SOA CPD activity?

  • Learning something new for your job is a professional development activity that earns job-relevant CPD credit.
  • Applying something new in your job is part of your normal job duties and does not earn CPD credit.
  • For example, learning a new regulation that you need to apply in your job would earn job-relevant CPD credit.
  • Making recommendations to your client or boss on how to comply with the new regulation does not earn CPD credit because you've now applied what you've learned in your job.

Will the SOA certify events and other materials as eligible for CPD credit?

  • No, the SOA will not certify approved providers.
  • A wide range of activities can be considered as continuing professional development and each member makes the determination of what activities count as job-relevant, business and management skills, professionalism, structured and non-structured credit under the SOA CPD requirement for him or herself.

 

Section B: Structured Credit

What is structured credit?

  • Structured credit involves any learning experience in which there is an opportunity for interaction among participants, or any experience derived from such an interactive learning experience.

Does structured education through my employer count toward the structured credit requirement?

  • Yes, but at least 7.5 units of structured credit for each cycle must come from a source other than your employer.
  • The 7.5 unit minimum is to ensure that you receive continuing education from sources other than your fellow employees.
  • If your employer sponsors a structured education event where an outside (non–employee) speaker is present, then that structured education is considered to come from a source other than your employer and counts toward the 7.5 units minimum.

Example 1:

  • Jane Doe attended "lunch 'n' learn" sessions sponsored by her employer where her fellow employees presented on professionalism and job-relevant topics.
  • She earned 32 units of structured credit in 2013 and 2014 from these sessions.
  • She still needed to complete another 7.5 units of structured credit from a source other than her employer to meet the structured unit requirement.

Example 2:

  • John Doe's employer sponsors a session where there is a combination of employee speakers and non-employee speakers discussing job-relevant topics.
  • The session runs for three hours.
  • Because the session includes non-employee speakers, he can count this event as 3.6 units of structured job-relevant CPD credit coming from a source other than his employer.

What if I attend an event sponsored by someone other than my employer but an employee is the speaker? Is structured credit earned from that event counted as employer or non-employer?

  • Since other attendees were there (or could have been there) from an employer other than your own, this permitted the sharing of views that don't solely reflect the views of your employer.
  • This event would count as non-employer structured credit.
  • If you participate in an event which has open participation (not limited to employees of the sponsor) then the CPD credit gained from that event is considered to be a non-employer sponsored credit.

Does education from other actuarial and non-actuarial professional organizations count as structured education?

  • Yes, you can earn structured CPD credit from the SOA or any other actuarial or non-actuarial professional organization.
  • The SOA will accept structured credit from any professional source, as long as it qualifies as either job-relevant or covers business and management skills.

Does participation in electronic discussion forums where members discuss professional issues count as my structured credit?

  • No, for this purpose, electronic discussion forums are considered to be an informal gathering of colleagues; the 21st century equivalent to the discussion around the water cooler.
  • As such, they're not considered to be a "learning experience" and do not count as CPD credit (either structured or self-study).
  • If the discussion forum is used as part of an online classroom, it can count for structured credit.

When are online courses considered to be structured credit and when are they self-study credit?

  • An online course can provide (at least some) structured credit if there is an opportunity for interaction.
  • For example, if there are "live" sessions where the instructor and students can interact, similar to a traditional classroom, these live sessions are the equivalent of classroom time and count as structured credit.
  • Or, the presence of an online discussion forum as part of an online course would provide participants the opportunity for interaction, allowing (at least some of) that course to be considered for structured credit.
  • An online course with no opportunity to interact with the instructor or other participants would not earn structured CPD credit, but it would be eligible for self-study credit.

How can I earn structured credit by "listening to an audio recording, viewing a video recording or reading a transcript of the event?"

There are two ways to achieve credit from an organized activity where participants have the opportunity to interact:

  1. Participate in a live presentation of the event (e.g. attend a seminar, participate in a webcast).
  2. Relive the live experience through some recorded means: audio recordings, video recordings or transcripts of the event.
    1. The audio, video or transcript must be of an event where there was an opportunity for interaction.
    2. If you listen to an audio, view a video or read the transcript of an event, you can claim credit for the year in which you're listening, watching or reading, not the year for which the event took place.

Example:

  • In March 2015, Jane Doe purchased the audio recording of an industry conference held in 2014.
  • During April 2015, she listened to 14.5 hours of audio recordings from that conference and determined that 13 of them were relevant to her job.
  • She claimed 15.6 units of structured job-relevant CPD credit in 2015.

If I'm listening to an audio, viewing a video or reading a transcript from an event, is there any "expiration date" in which the event would no longer be considered job-relevant credit?

  • You're responsible for determining that the content is job-relevant to you.
  • There is no firm expiration date after which an audio recording, video recording or transcript cannot be used to meet the CPD requirement.
  • However, reading a transcript of a session from 1983 about potential regulatory changes in insurance is likely not job-relevant.
  • You're responsible for ensuring that the material you count toward meeting the SOA CPD requirement meets the definition of job-relevant.

I read a magazine article that reflects a panel discussion. Does that count as structured credit?

  • It depends. If that panel discussion was presented at a live event, such as a meeting, seminar or webcast, and the article is a transcript of the event, then reading it counts as your structured credit.
  • However, if the panel discussion was brought together to generate the article, reading the article is counted as self-study, not structured credit.
  • The test is two-pronged:
    1. The panel discussion had to have been held at a live event.
    2. The article must be a transcript of the discussion.
  • The article must meet both prongs of the test to count as structured credit.

Does reading session slides or a session outline count as structured credit?

  • No, slides and outlines do not provide the full impression of the event.
  • Reading slides or an outline does not give you all the detail that "live" participants received.
  • Only a transcript can be read to earn structured CPD credit.

Does reading an article summarizing a meeting session count as structured credit?

  • No, although it does count as self-study credit.
  • Again, only a true transcript of the event provides the complete detail that participants received in the session itself, which qualifies reading the transcript as structured credit.

 

Section C: Alternative Compliance Provisions

To be able to use the alternative compliance standard, do I have to be "subject to" that standard? What does that mean?

  • We've included alternative compliance provisions to allow members to consolidate the number of requirements they need to understand.
  • However, this does not mean that SOA members get to choose which alternative compliance standard they like the best.
  • You have to be subject to, or have a reasonable expectation, to be able to use an alternative compliance standard.

Example:

  • Jane Doe worked in Germany.
  • She is an SOA member but hadn't practiced in the United States and didn't issue Statements of Actuarial Opinion in the United States.
  • She transferred to the United States, effective Jan. 1, 2013. Since she was now practicing in the United States, she needed to be able to issue Statements of Actuarial Opinion. She met the U.S. Qualification Standard requirements in 2012, so she could issue Statements of Actuarial Opinion in 2013.
  • She can use the U.S. Qualification Standard to meet her CPD requirement since she had a reasonable expectation of meeting the U.S. Qualification Standard.

I'm already subject to the U.S. Qualification Standard. Why do I have to do both?

  • You don't have to do both: You can elect to meet the U.S. Qualification Standard as a means of alternative compliance with the SOA CPD requirement, and use that standard to fulfill both requirements.
  • When you certify compliance with the SOA CPD requirement, you'll certify that you met the SOA requirement by meeting the U.S. Qualification Standard.
  • This way, you have to focus on meeting only one standard: the U.S. Qualification Standard.
  • You will not have to separately comply with both standards.
  • If your compliance is audited, you'll show how over the two-year period, you met the U.S. Qualification Standard in each year.

I'm subject to the CIA Qualification Standard. Can I elect to comply with that instead?

  • Yes, if you're subject to the Canadian Institute of Actuaries (CIA) Qualification Standard, you may choose the alternative compliance path and meet your SOA CPD requirement by meeting the CIA Standard.
  • You'll certify compliance with the SOA requirement by certifying that you complied with the CIA Standard, and you'll focus on meeting one standard (the CIA Standard).
  • You will not have to separately comply with both standards.
  • If your compliance is audited, simply show how over the two-year period, you've met the CIA Qualification Standard.

Do I need to do something else if I elect to use alternative compliance to meet the SOA CPD requirement?

  • Alternative compliance is considered to be compliance in full.
  • Whether you meet the Basic Requirement Provisions of Section B or the Alternative Compliance Provisions of Section C, you must follow the Certification of Compliance procedures outlined in Section D.
  • Document how you're meeting your chosen alternative compliance standard, and be sure to notify the SOA how you've met the standard starting with the cycle ending.

I'm subject to the U.S. Qualification Standard, but I don't need to meet it because I don't issue Statements of Actuarial Opinion. Does this mean that I can meet my SOA CPD requirement using alternative compliance and earning no CPD credit?

No, you must completely fulfill the requirements of the alternative standard (the U.S. Qualification Standard or the CIA Qualification Standard) to be eligible for alternative compliance.

Example:

  • John Doe, FSA, works in the United States, does not issue Statements of Actuarial Opinion (as defined in the U.S. Qualification Standard).
  • He does not need to comply with the continuing education requirements in the U.S. Qualification Standard.
  • He is still potentially subject to the U.S. Qualification Standard, so he can use it as a means of alternative compliance.
  • To fulfill the SOA CPD requirement using the U.S. Qualification Standard as a means of alternative compliance, he would have to fulfill the continuing education requirement of the U.S. Qualification Standard in its entirety (i.e. 30 units of CPD per year, six units in organized activities and three units of professionalism, etc.).

I'm exempt from the CIA Qualification Standard. Does this mean I can meet my SOA CPD requirement using alternative compliance and earning no CPD credits?

No, you must completely fulfill the requirements of the alternative standard (in this case, the CIA Qualification Standard) to be eligible for alternative compliance.

I'm subject to the CPD Scheme of the Faculty and Institute of Actuaries (U.K. CPD Scheme). I can meet the U.K. CPD Scheme through Category 3. Does this meet the alternative compliance provisions of the SOA CPD requirement?

  • No, Category 3 and 4 of the U.K. CPD Scheme are specifically excluded as means of alternative compliance with the SOA CPD requirement.
  • Category 3 allows members to determine their own minimum number of CPD hours.
  • Category 4 does not require any CPD hours.
  • The SOA Board felt that the lack of a specific minimum requirement did not meet the rigor of the other alternative compliance standards.
  • You can elect to complete Category 1 or 2 of the U.K. CPD Scheme as a means of completing the SOA CPD requirement, or you can meet the provisions of Section B of the SOA CPD requirement.

If I complete the Joint Board for the Enrollment of Actuaries' continuing education requirement, is it also a form of alternative compliance with the SOA CPD requirement?

  • No. Under very limited circumstances, it might be sufficient for the CPD cycle ending on Dec. 31, 2010.
  • It depends on whether you qualify for the limited exemption for enrolled actuaries in Paragraph 2.2.8 of the U.S. Qualification Standard.
  • If you are an enrolled actuary, and you only issue Statements of Actuarial Opinion related to ERISA retirement plans, and because of that you meet the enrolled actuaries exemption in paragraph 2.2.8 of the U.S. Qualification Standard, you meet the terms of the U.S. Qualification Standard.
  • By meeting the terms of the U.S. Qualification Standard, you meet the SOA CPD requirement through alternative compliance.
  • Meeting the Joint Board requirement meets the requirements of the U.S. Qualification Standard, and meeting the requirements of the U.S. Qualification Standard, in turn, meets the SOA CPD requirement.

 

Section D: Certification of Compliance

How can I show I have complied with the CPD requirement?

Each year, you will be asked to certify if you have fulfilled the CPD requirement. Certification is done electronically, with an option for certification in writing. In addition, you need to keep a personal log of CPD credits.

How long do I have to certify compliance?

The exact length of the certification period has not yet been determined, but it will open several months before December 31, and extend after December 31, and into the following year to give members ample time to certify compliance for that cycle.

What is the difference between complying with the requirement and fulfilling the requirement?

  • To comply with the requirement, you certify as of Dec. 31 of each year whether you have fulfilled the requirement.
  • You fulfill the requirement by earning 60 units of CPD credit under the Basic Requirement Provisions of Section B or fulfilling one of the alternative compliance provisions of Section C.

What if I do not fulfill the CPD requirement?

  • If you fail to fulfill the CPD requirement, the membership directory will show your compliance status for that CPD cycle as "Non-compliant".
  • In addition, you must inform anyone relying on your actuarial expertise that you did not fulfill the SOA CPD requirement. This may include your employer and clients.
  • If you do not fulfill the CPD requirement, you will not lose your credential.
  • There is no impact on any of your member rights for failure to fulfill the requirement.

How will compliance to be shown in the membership directory?

The membership directory includes a heading to indicate your SOA CDP requirement compliance. Under that line, your compliance status is shown for the most recent CPD cycle.

Example: John Doe was able to meet the alternative compliance provisions of Section C (using the U.S. Qualification Standard for 2014 and 2015) by May 13, 2016. This completed his SOA CPD requirement for the 2014-2015 cycle. He immediately let the SOA know that he had fulfilled the requirement for the 2011-2012 cycle and within a few days his membership directory listing was changed to read as follows:

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What if I do not comply (if I fail to let the SOA know whether I fulfilled the requirement)?

If you fail to let the SOA know that you fulfilled the requirement, then the SOA will have to list your status as "Non-compliant" in the membership directory in the following year.

What if I do not want to be listed in the membership directory?

  • All SOA members must be listed in the membership directory.
  • Your minimum listing is name, designations and SOA CPD requirement status.
  • No additional employer or contact information is required.
  • This is to ensure that a member of the public (including a professional employer), who checks on the CPD compliance status of an SOA member, is able to find your information easily.

Can the SOA "revoke" my credential if I fail to fulfill the CPD requirement?

  • You will not lose your SOA credential for failing to fulfill the CPD requirement.
  • You will have to notify users of your actuarial services of your non-compliance, and the membership directory will show your compliance status as "Non-compliant."
  • Please note that making a false statement about a credential violates the actuarial Code of Professional Conduct and could be cause for disciplinary action.

I have met the provisions of one of the alternative compliance standards. As long as I follow the reporting procedures the other organization requires, have I complied with the SOA CPD requirement?

  • No, let the SOA know that you have fulfilled the SOA requirement by meeting the alternative compliance standard.
  • If you fail to let the SOA know you have fulfilled the requirement, your compliance status will be listed as "Non-compliant" in the membership directory during the following year, even though you have earned the necessary credits.

What happens if I misrepresent my CPD requirement status to someone (e.g. demonstrating that I have complied with the requirement when I have not)?

As with any misrepresentation of your credential, you could be subject to disciplinary action.