The designation Fellow of the Society of Actuaries (FSA) recognizes that an individual has demonstrated knowledge of the business environments within which financial decisions concerning pensions, life insurance, health insurance, and investments are made including the application of mathematical concepts and other techniques to the various areas of actuarial practice. The designation Associate of the Society of Actuaries (ASA) recognizes an individual that has developed an understanding of the basic mathematics underlying actuarial science and of the application of fundamental mathematical concepts to technical actuarial problems. In 2007, the SOA introduced its first new professional credential in nearly 60 years -- the Chartered Enterprise Risk Analyst (CERA). The CERA can be earned by professionals who complete a rigorous curriculum encompassing the most comprehensive demonstration of enterprise risk management available.