To become a professional actuary, a student must pass a series of online courses and rigorous examinations, most of which are taken while employed in an actuarial capacity in industry or government.
The first five actuarial examinations are considered to be preliminary because they give the student a foundational knowledge in probability, interest theory, financial instruments, financial models, and life contingencies.
After passing the preliminary tests, students take specific exams and courses that pertain to the industry in which they work. Once a student passes all the requirements, he or she may apply for the professional designation of an Associate or Fellow with the credentialing body in their industry.
The Society of Actuaries (SOA) and Casualty Actuarial Society (CAS) plan to implempent a number of changes in 2018 to the requirements to become a Associate. Visit our 2018 Exam Changes page to learn more.