Society of Actuaries - 2003 Archived Yearbook

330 Pages·2003·1.43 MB·English

2003 Archived Yearbook
2003 Yearbook
Requirements for Admission
to the Society of Actuaries
This overview of actuarial education is written for Fellows and other interested audiences who are not
taking exams. It is edited to be informative, not definitive. Detailed information on courses, syllabus,
study materials, fees, and examination dates, times, and locations is given in the Fall Basic Education
Catalog and in the Spring Basic Education Catalog.
Credit for all courses must be obtained by examinations offered by the SOA or by an alternative method
approved by the Board of Governors. Also, in certain circumstances, course credit may be obtained by
waiver for a candidate who has examination credits in another recognized actuarial organization.
1. Requirements for Admission to the Society of Actuaries as an Associate
Anyone pursuing actuarial studies may apply for admission to the Society. If the Board of Governors
approves the Application for Admission as Associate, the candidate will be enrolled as an Associate of
the Society of Actuaries (ASA) after completing the Associateship education and examination
requirements prescribed by the Board of Governors, subject to any further requirements that the Board
may prescribe.
A candidate must complete Courses 1-6 as well as the Associateship Professionalism Course to satisfy
the Associateship requirements.
2. Requirements for Associateship
The following list shows the required courses needed to become an Associate.
Course 1 Mathematical Foundations of Actuarial Science
Course 2 Interest Theory, Economics and Finance
Course 3 Actuarial Models
Course 4 Actuarial Modeling
Course 5 Application of Basic Actuarial Principles
Course 6 Finance and Investments
Associateship Professionalism Course
The Associateship Professionalism Course is an additional requirement for the ASA designation and
may be taken after completing Courses 1-4. The course will be offered at the Society's Spring and
Annual Meetings and at other sites throughout the year.
3. Requirements for Fellowship
Candidates, earning their designation via the examination process, cannot attain Fellowship without
having satisfied requirements for Associateship. Candidates may not attend the Fellowship Admissions
Course (FAC) until they have completed all other Fellowship educational requirements. The FAC is
required of all candidates for Fellowship (see Section 3d.3 for a possible exception in limited
circumstances).
Candidates who desire Fellowship in the Canadian Institute of Actuaries (CIA) must complete the
Society's Fellowship requirements, including completion of the Fellowship Admissions Course, as
well as any other CIA requirements. Complete details are in the CIA Yearbook.
a. FSA Course Descriptions
Course 7 Applied Actuarial Modeling
Course 8 Advanced Specialized Actuarial Practice
Candidates must choose one of the following:
Finance
Health, Group Life & Managed Care
Individual Insurance
Investments
Retirement Benefits
b. Professional Development Requirement
The PD requirement of the SOA curriculum serves to address topics that the practitioner will need
throughout his/her career, including those that are country-specific, regulatory, or otherwise transitory in
nature. Satisfying the PD requirement occurs after completing the formal course of examinations and
precedes eligibility for the FAC to attain the FSA designation.
The candidate must obtain a minimum of 50 units of eligible education within a two year period, with at
least 35 units coming from the completion of suitable formal professional development programs
(seminars and symposia, meeting sessions, professional examinations, and courses), and 15 units from
the completion of a professional project and communication of the relevant aspects of the project.
c. Fellowship Admissions Course
The Fellowship Admissions Course is the final requirement for Fellowship and is required of all
candidates for Fellowship. It is offered several times a year.
d. Mutual Recognition
The FSA designation may also be granted to Fellows of the Institute of Actuaries, Faculty of Actuaries,
Institute of Actuaries of Australia and the Actuarial Society of Ireland via the terms of our Mutual
Recognition agreements with these organizations. Individuals seeking Fellowship via Mutual
Recognition must meet the following requirements:
1. have attained Fellowship in the Institute, the Faculty, the Institute of Australia or the Actuarial
Society of Ireland by examination and not in recognition of membership of another actuarial
association;
2. be a Fellow in good standing of the Canadian Institute of Actuaries (CIA), or Member in good
standing of the American Academy of Actuaries (AAA), or full member in good standing of
other actuarial associations designated from time to time by the Society of Actuaries Board of
Governors;
3. have attended and passed the Society of Actuaries Fellowship Admissions Course (FAC), or its
equivalent as recognized by the Society of Actuaries, in the five years prior to application;
4. have satisfied the Society of Actuaries Professional Development (PD) requirements, or its
equivalent as recognized by the Society of Actuaries, in the five years prior to application.
Individuals seeking additional information or an application should contact Brett Rogers at brogers@soa.
org.
4. Correspondence
Requests for application forms or other correspondence regarding examinations, study notes, study
groups or classes or other matters should be addressed to:
Society of Actuaries
475 N. Martingale Road, Suite 800
Schaumburg, IL 60173-2226
Phone: [phone]
Fax: [phone]
E-mail: [email protected]
Back to Yearbook | SOA Homepage
2003 SOA Ambassador Listing
Argentina – Jorge Manuel Noronha, FSA Luxembourg – Mian Ikram Shakir, ASA
[email protected] [email protected]
Australia – Julian D. Gribble, F.S.A. Malaysia – Hassan B. Kamil, FSA
[email protected] [email protected]
Bermuda, Co-Ambassadors – Mexico – N.D. Shyamal Kumar, Ph.D. ASA
Philip J. Bieluch F.S.A.
[email protected]
[email protected]
Michael E. Gabon, F.S.A.
Middle East – Ahmad Sami Sharif, FSA
[email protected]
[email protected]
Brazil – Ronald Poon-Affat, FSA
New Zealand – Richard Geisler, FSA
[email protected]
[email protected]
Channel Isles – Rodney M. Benjamin, ASA
Pakistan – Nauman A. Cheema, FSA
[email protected]
[email protected]
Colombia - Luis G. Caro, ASA
Philippines – Mabini L. Juan, FSA
[email protected]
[email protected]
Egypt – Mohamed F. Amer, FSA
Poland – Henryk S. Walerys, ASA
[email protected]
[email protected]
Germany – Tauno Jaekel, ASA
[email protected] People’s Republic of China - Samuel Zhou, FSA
[email protected]
Hong Kong - Yu-Wo Danny Chung, FSA
[email protected] Singapore – Patricia Weifun Chang, FSA
[email protected]
India – Chitra Lele, ASA
[email protected] Spain – Daniel DeKeizer, FSA
[email protected]
Indonesia – Jeffrey P. Newnam, FSA
[email protected] Taiwan – Won How Lo, FSA
[email protected]
Israel – Alan Dubin, FSA
[email protected] Trinidad – Robyn Day, FSA
[email protected]
Jamaica – Janet Sharp, FSA
[email protected] United Kingdom – Alan Twigg, ASA
[email protected]
Japan – Stephen Conwill, FSA
[email protected] Vietnam – Phong Thanh Huynh, F.S.A.
[email protected]

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2003 Yearbook
Officers
Board of Governors
Harry Panjer Neil A. Parmenter
President President-Elect

Robert M. Beuerlein Stuart Klugman Richard L. (Dick)
Vice-President Vice-President London
Vice President
Edward L. Robbins Shirley Hwei-Chung Bradley M. Smith
Vice-President Shao Vice-President
Vice-President
Past Presidents

W. James MacGinnitie Robert L. Brown
Immediate Past Penultimate President
President
2003 Board of Governors
Faye Albert Joseph A. Applebaum Tom Bakos Janet M. Carstens
Christian J. Ronald Larry M. Gorski
Samuel H. Cox
DesRochers Gebhardtsbauer
Tom Herget Mark E. Litow Warren Luckner Josephine Elisabeth
Marks
S. Michael Bruce D. Schobel Peter D. Tilley
Stuart F. Wason
McLaughlin