To become a Fellow of an actuarial organization, you'll typically need to pass a series of exams that cover various topics in actuarial science. While the specific exams can vary depending on the organization, here's a general list based on the Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS):
Society of Actuaries (SOA)
- Validation by Educational Experience (VEE)
- Economics
- Accounting and Finance
- Mathematical Statistics
- Preliminary Exams
- Exam P: Probability
- Exam FM: Financial Mathematics
- Exam IFM: Investment and Financial Markets
- Exam LTAM: Long-Term Actuarial Mathematics
- Exam STAM: Short-Term Actuarial Mathematics
- Exam SRM: Statistics for Risk Modeling
- Exam PA: Predictive Analytics
- Fellowship Exams
- Fellowship Exam (specific to chosen track, such as Life, Health, Pension, etc.)
- Modules or courses in the chosen specialty (e.g., enterprise risk management)
Casualty Actuarial Society (CAS)
- Preliminary Exams
- Exam P: Probability
- Exam FM: Financial Mathematics
- Exam IFM: Investment and Financial Markets
- Exam STAM: Short-Term Actuarial Mathematics
- Exam SRM: Statistics for Risk Modeling
- Exam PA: Predictive Analytics
- Fellowship Exams
- Exam 5: Basic Techniques for Ratemaking and Estimating Losses
- Exam 6: Regulation and Financial Reporting
- Exam 7: Estimation of Policy Liabilities, Insurance Company Valuation, and Related Topics
- Additional exams based on specific tracks or electives.
Additional Requirements
- Professional Development: Continuing education and professional development credits.
- Experience: Relevant work experience in the actuarial field.
- Membership: Joining the respective actuarial organization.
It’s essential to check the specific requirements of the organization you're interested in, as they may have updates or additional requirements.
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