20. If an actuary signs an NAIC Statement of Actuarial Opinion (SAO) for both a life insurance company and a property and casualty company, what specific continuing education (CE) requirements apply?
Question
20. If an actuary signs an NAIC Statement of Actuarial Opinion (SAO) for both a life insurance company and a property and casualty company, what specific continuing education (CE) requirements apply?
Section 3 of the U.S. Qualification Standards (USQS) requires signers of NAIC SAOs to satisfy at least 15 hours on topics specific to the type of NAIC statement being issued (see Section 3.1.1) and that 6 of the 15 CE hours be organized. For an actuary signing different types of NAIC SAOs, there is no provision in the USQS that suggests that the requirements can be combined. In this situation, the actuary would need to satisfy the 15/6 CE requirement for each NAIC statement type. However, some CE could count for more than one type of SAO (Section 3). Note that under Section 3, the actuary must also comply with the general qualification standards, including a total of 30 CE hours annually. And, of course, actuaries must also meet the basic education, exam, and experience requirements of Section 3.
Last updated December 2014
Last updated December 2014
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