16. If an actuary who meets the Casualty Actuarial Society’s or the Society of Actuaries’ continuing professional development requirements for issuing Statements of Actuarial Opinion (SAOs) outside the U.S. begins to perform Actuarial Services in the U.S.
Question
16. If an actuary who meets the Casualty Actuarial Society’s or the Society of Actuaries’ continuing professional development (CPD) requirements for issuing Statements of Actuarial Opinion (SAOs) outside the U.S. begins to perform Actuarial Services in the U.S., can this person render SAOs in the U.S. even though they have not yet completed the requirements of the U.S. Qualification Standards (USQS)?
No. Actuaries must comply with the USQS before issuing their first SAO in the United States (Section 1 and Appendix 1). There are differences between the CAS and SOA CPD requirements and the USQS continuing education requirements, and therefore it is important to note that any actuary credentialed by any of the five U.S.-based actuarial organizations that issue SAOs in the US must meet the USQS prior to providing SAOs. An actuary does not need to be a member of the American Academy of Actuaries to be required to adhere to the USQS. See the following infographic for short description of the USQS: http://www.actuary.org/files/imce/CE%20infographic%20final%20revised%207-22-14.pdf.
Last updated December 2014
Last updated December 2014
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