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Casualty Actuarial Society (CAS) Exams Exam code Exam title Introduced Preceded by Ceased Superseded by SOA eqv. 1: Probability: 2005: Exam 1 (2000) Current exam: P: 2: Financial Mathematics: 2005: Exam 2 (2000) Current exam: FM: MAS-I: Modern Actuarial Statistics I: 2018: Exam S Current exam — MAS-II: Modern Actuarial Statistics II: 2018 ...
An actuary is a professional with advanced mathematical skills who deals with the measurement and management of risk and uncertainty. [1] These risks can affect both sides of the balance sheet and require asset management, liability management, and valuation skills. [2]
The CAS requires all candidates to qualify through a series of actuarial exams covering various aspects of actuarial practice. Passing Exams 1–6 as well as Exam S, the Course on Professionalism, the Validation by Educational Experience (VEE), and two online courses qualifies an actuary for the Associateship designation; passing three additional exams is required to become a Fellow. [10]
The Core sections consists of 9 written exams and a “Business Awareness Module,” CB3. These are usually sat first by a candidate and include the underlying mathematics involved in actuarial work as well as an introduction to financial and economic issues. These are also the most common exams for which candidates may get exemptions.
Society of Actuaries: Associate of the Casualty Actuarial Society: ACAS: Casualty Actuarial Society: Fellow of the Casualty Actuarial Society: FCAS: Casualty Actuarial Society: Member of the American Academy of Actuaries: MAAA: American Academy of Actuaries: Associate of the Conference of Consulting Actuaries: ACA: Conference of Consulting ...
Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, pension, finance, investment and other industries and professions. Actuaries are professionals trained in this discipline.
Non-members working in the actuarial profession and taking exams are often referred to as actuarial students or candidates. Members of the SOA who meet a professional experience requirement are eligible for membership in the American Academy of Actuaries , which represents United States actuaries from all practice areas.
An enrolled actuary is an actuary enrolled by the Joint Board for the Enrollment of Actuaries under the Employee Retirement Income Security Act of 1974 (ERISA). [1] Enrolled actuaries, under regulations of the Department of the Treasury and the Department of Labor, perform a variety of tasks with respect to pension plans in the United States under ERISA.
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