Have the examinations required to satisfy the Basic Education Requirement of the General Qualification Standard been changed?

The revised Qualification Standards no longer require an actuary to meet certain examinations, but rather to obtain membership in an actuarial organization and to meet certain other criteria, as described below:

• Be a Member of the Academy, a Fellow or Associate of the SOA or the CAS, a Fellow of the CCA, a Member or Fellow of ASPPA, or a fully qualified Member of another IAA-member organization;
• and Have three years of responsible actuarial experience, which is defined as work that requires knowledge and skill in solving actuarial problems;
• and Be knowledgeable, through examination or documented professional development, of the Law applicable to the statement of actuarial opinion. "Law" is defined in the Code of Professional Conduct.

There are additional experience requirements for actuaries who issue statements of actuarial opinion in an area covered by a specialty track offered by the SOA or in an area of practice covered by the exams of the CAS or ASPPA. (For more information on the Specific Qualification Standards, see below.)