Actuaries

Special Requirements

To become an actuary you need to meet the following requirements:

EDUCATIONAL REQUIREMENTS:
Applicants for beginning actuarial jobs usually have a bachelor’s degree in mathematics, actuarial science, statistics, or a business related discipline, such as economics, finance, or accounting. It is important to also have some educational background in economics, accounting, finance or insurance.
- Some companies do not specify a bachelor’s degree in a particular major, provided that the applicant has a working knowledge of mathematics, including calculus, probability, and statistics.
- Computer skills such as knowledge of :
   •   Visual Basic
   •   Developing and using spreadsheets
   •   Developing and using databases

EXAMS
- In order to obtain professional status in a specialty you must pass a series of exams from one of the following professional societies: 

- Society of Actuaries (SOA) - administers a series of actuarial exams for life and health insurance, pension, and finance and investment fields.

Your application(s) must be received on or before April 1 for the Spring session, and September 24 for the Fall session. Applications received after the deadline will not be accepted. Please be aware that it takes approximately 10 days for your application to arrive by regular mail. Contact: [email protected] for more information.

RENEWAL:
An Enrolled Actuary’s enrollment to practice is renewable every three years. To qualify for renewal of enrollment an Enrolled Actuary must certify that he/she has satisfied the continuing professional education (CPE) requirements specified in the Joint Board Regulations. In addition, an Enrolled Actuary must submit an application for renewal of enrollment and a filing fee of $25.00. Contact the Joint Board for the Enrollment of Actuaries for application information.

Required Fees:

All amounts in U.S. dollars. 
^±±Exams P, FM and C are identical to the CAS Exams 1,2 and 4 respectively.

^±±±If applying for two VEE topics simultaneously, the application fee will be $75.00. If applying for three VEE topics simultaneously, the application fee will be $100.00.

^±The FAP conversion fee applies to candidates who need only FAP Modules 1-5 and FAP Exam #1 OR FAP Modules 6-8 and FAP Exam #2.
 

Student fees are available only to candidates currently enrolled in full-time university study programs.

Reduced examination fees are available to qualified candidates in eligible countries.
Please see the SOA Web site at http://www.soa.org or contact the Manager of
Global Initiatives at [email protected].

Fees should be remitted in U.S. funds (or equivalent) by check, money order, American Express, MasterCard or Visa. Please note that payment in non-U.S. currency may slightly delay the processing of the application. All outstanding exam fees and administrative fees must be paid in full prior to enrollment in future exams.

For More Information, Contact:

Society Of Actuaries (SOA)
475 North Martingale, Suite 600
Schaumburg, Illinois 60173
Phone: 847.706.3500
Fax: 847.706.3599
http://www.soa.org/
[email protected]

Casualty Actuarial Society (CAS)
1100 N. Glebe Rd., Suite 600
Arlington, VA 22201
Phone: 703.276.3100
Fax: 703.276.3108
http://www.casact.org/

Joint Board For The Enrollment Of Actuaries
Internal Revenue Service
SE: OPR
111 Constitution Avenue, NW
Washington, DC 20224
Phone: 202.622.8229
Fax: 202.622.8300
http://www.irs.gov/taxpros/actuaries

The data sources for the information displayed here include: Virginia Career VIEW Research. (Using onet28)