Brief introduction of North American Actuaries Association
The Association of Actuaries of North America is an educational, research and professional organization that aims to serve the public and members of society. Its task is to develop actuarial knowledge and strengthen the ability of actuaries to provide professional suggestions and solutions to uncertain issues involved in the future finance and society.
North American actuary examination subjects
SOA professional qualification certification of actuaries in North America can be divided into quasi-actuaries ASA and formal actuaries FSA. Quasi-actuaries have seven exams, three VEE certification courses and FAP online learning courses. After completing the exams and courses, they must attend APC seminars to obtain ASA certification. The seven examination subjects are probability theory, financial mathematics, investment and financial market, long-term actuarial mathematics, short-term actuarial mathematics, risk modeling statistics and prediction analysis.
The three VEE certification courses are economics, accounting, finance and mathematical statistics. Before completing the certification course, candidates must pass two basic exams, and the transcripts of the two exams have been displayed on the transcript of SOA personal homepage. VEE certification courses are passed in a special way, without examination. You need to take the designated courses in an institution or university officially recognized by SOA, and your B- (or 100%) score is above 76. Then, the candidates fill in the application form in SOA official website with this effective score, and the course ends after passing the exam.
FAP online learning course is a compulsory course for ASA. This course includes eight online learning modules and two online courses with comprehensive written assessment. Candidates need to complete all the study and examination contents within two years from the date of registration. Those who fail to complete the course within the time limit may apply for an extension of one year, and may submit at most two extension applications for one year each time.
APC seminar is a necessary condition for obtaining ASA. In the APC workshop, candidates will improve their professional knowledge, professional ethics, legal responsibilities and other aspects by learning a large number of practical cases. Each APC seminar lasts for one and a half days. Its form is to participate in offline seminars in designated cities, which will be held 4-5 times a year in China, and the location will be notified on APC's official homepage 2-3 months before registration.
FSA, a formal actuary, has eight courses, namely, mathematical basis of actuarial science, interest theory, economics and finance, actuarial model about risk, actuarial modeling method, application of actuarial basic principles, finance and investment, application of actuarial model, and specific advanced actuarial practice. Candidates only need to choose one of the five specific directions of advanced actuarial practice, namely, advanced actuarial practice-finance, advanced actuarial practice-group life insurance, personal and group health insurance, advanced actuarial practice-health management practice, advanced actuarial practice-personal life insurance, advanced actuarial practice-investment and advanced actuarial practice-Canadian pension plan.