You want to start your actuarial career from Society of Actuaries, US and you require assistance?
Here is the complete guidance you might be searching for!
Society of Actuaries (SoA) is a globally recognised Institute which conducts Actuarial exams, seminars and releases publications to its members. SoA prepares individual risk management careers in traditional and emerging industries.
New students can make an account using this link : https://store.soa.org/RegisterCustomer.aspx?returnurl=%2fDefault.aspx%3f…
Qualification journey
To become an Associate of Society of Actuaries (ASA), 12 exams need to be cleared and they can be found here : https://www.soa.org/education/exam-req/edu-asa-req/. These exams happen 3 times a year. There have been recent changes in ASA curriculum which is described in these links : https://www.soa.org/globalassets/assets/files/edu/asa-pathway-changes.pdf
https://www.soa.org/resources/announcements/press-releases/2021/2021-asa…
To become an Fellow of Society of Actuaries (FSA) upto 9 exams need to be cleared and they can be found here : https://www.soa.org/education/exam-req/edu-fsa-req/ – these are exams that can be appeared after becoming ASA. You can choose the field of specialization in Actuaries at this stage and hence you need to appear for only exams mentioned in any one column of this link for FSA requirements.
Exam Registration
Exam registration can be done using this link: https://www.soa.org/education/exam-req/registration/edu-registration/ . There are no restrictions on eligibility for student to register for exams. Dates for exams (either paper-pen and/or Computer based testing, commonly abbreviated as CBT) and exam registration deadline are exam specific and are detailed here : https://www.soa.org/education/exam-req/exam-day-info/exam-schedules/
For ASA Exams: In India exams are available only in CBT format. In US, both Pen-paper style & CBT are available.
For FSA Exams: only Pen-paper style is available everywhere.
Exam fees
Exam fees varies for each exam and a detailed fees structure can be found here: https://www.soa.org/education/exam-req/syllabus-study-materials/exam-and…
Membership
Only associates and fellow are required to pay membership fees.
• A beginner wanting to take membership can apply here : https://www.soa.org/sections/join-section/ . There is no membership criteria or requirement. Anyone can apply for it.
• An existing member of SOA can apply for renewal via this link : https://www.soa.org/about/membership/member-dues/
Results date and more
Exam results date for 2021 exams can be found here : https://www.soa.org/education/general-info/exam-results/edu-exam-results… . Results are usually posted 2 months after exam is conducted.
Other important information can be found here : https://www.soa.org/education/general-info/default/
SOA Exemption for IFoA papers
You are eligible to claim exemption for some of the IFoA exams if you are an SOA student with specified exams cleared. Majority of core principles papers under IFOA and few more exams exemptions are available. It needs to be claimed before 31st December 2022. More details can be found here : https://www.actuaries.org.uk/studying/exam-exemptions/members-other-actu…
IFOA Exemption for SoA papers
You are eligible to claim exemption for some of the SoA exams if you are an IFOA student with specified exams cleared. Claiming exemption (exam waiver) is free and is not expected to end in the near future. More details can be found here: https://www.soa.org/globalassets/assets/files/edu/2019/iofa-waiver-rules…
It happens twice a year March and November
Our next series of articles will describe what Actuaries do in the various domains. Which field do you want to know first?
Keep reading, keep rocking and Stay tuned!