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CPD Requirement: Candidates and Students

Frequently Asked Questions


I am an ASA and still taking actuarial exams. Do I have to fulfill the CPD requirement?

  • Yes, an ASA working at a full-pace through the exam process should easily meet the CPD requirement.
  • You can count the time you spent preparing for an exam and the time you spent on readings for FSA modules as self-study time.
  • An effective attempt at an examination and completion of an FSA module earns structured credit.
  • The CPD requirement defines an effective attempt for an examination (see Section B). Information on structured credit for an effective attempt at an exam and completion of a module can be found here.

I am taking exams but haven't earned my ASA or CERA. Do I have to fulfill the SOA CPD requirement?

No.

How do I earn CPD credit for FSA examinations and modules?

  • You earn structured job-relevant CPD credit for an effective attempt at an FSA examination (effective attempt is defined in Section B6(f) of the requirement).
  • In addition, you can count any study time toward that exam as self-study, job-relevant CPD.
  • Similarly, you earn structured credit upon successful completion of an FSA module and can count any time spent completing that module as self-study job-relevant CPD.
  • Credit available for completion of exams and modules is found here.

Example: Jane Doe is taking the QFI Advanced examination to complete her FSA. She spends 250 hours studying for the examination. While she does not pass the exam, she receives a score of four in her attempt. She earns 12.5 units of structured job-relevant CPD credit for her effective attempt at the QFI Advanced examination, plus she can consider 30 units of her study time as job-relevant self-study time (the requirement allows only up to 30 units of self-study time per cycle).

If I am still working to complete my FSA, does studying, taking exams and completing modules meet the SOA CPD requirement in full?

While what you do for exams and to complete the modules should fulfill most of your job-relevant credit requirements, you may need to complete additional modules, exams, and the like, to earn three units of structured professionalism credit each cycle.

I earned my ASA and I am working to complete my FSA. I need to comply with the U.S. Qualification Standard. Can I use alternative compliance and meet the SOA CPD requirement?

  • Yes, all members are eligible to follow the Alternative Compliance Provisions (Section C) including those still working on their FSA.
  • However, your alternative compliance standard may not grant credit for taking exams, studying and completing modules in the same way as the Basic Requirement Provisions (Section B).
  • Read the rules of your selected alternative compliance standard to determine what counts toward meeting that standard.