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Candidates and Students
CS1. I'm an ASA still taking actuarial exams. Do I have to fulfill the CPD Requirement?
Yes. An ASA working at a full pace through the exam process should easily meet the CPD Requirement. You can count study time for the exam and readings for FSA modules as self-study time. An effective attempt at an examination and completion of an FSA module earn structured credit. The CPD Requirement defines effective attempt, outlines the structured credit earned for making an effective attempt at a fellowship exam and outlines the structured credit earned for completion of the FSA modules (see Sections B6(f), B6(g) and B6(h) and FAQs G4, CS3 and CS4)
CS2. I'm taking exams but haven't earned my ASA or CERA. Do I have to fulfill the SOA CPD Requirement?
No.
CS3. How do I earn CPD credit for FSA examinations and modules?
You earn up to 15 hours of structured job-relevant CPD credit for an effective attempt at an FSA examination (effective attempt is defined in Section B6(f) of the requirement). In addition, you can count any study time toward that exam as self-study job-relevant CPD. Similarly, you earn 7.5 hours of structured credit upon successful completion of an FSA module and can count any time spent completing that module as self-study job-relevant CPD.
Example: Ashley Member is taking the CSP-IU examination to complete her FSA. She spends 250 hours studying for the examination. While she doesn't pass the exam, she receives a score of four in her attempt. Ashley earns 15 units of structured job-relevant CPD credit for her effective attempt at the CSP-IU examination, plus she can consider 30 units of her study time as job-relevant self-study time (the requirement allows only up to 30 units of self-study time per cycle).
CS4. If I'm still completing my FSA, are studying, taking exams and completing modules enough to meet the SOA CPD Requirement in full?
While what you do for exams and to complete the modules should fulfill most of your job-relevant credit requirements, you may need to do something else to earn three units of structured professionalism credit each cycle.
CS5. I earned my ASA and am working to complete my FSA. I need to comply with the U.S. Qualification Standard. Can I use alternative compliance and meet the SOA CPD Requirement?
Yes. All members are eligible to follow the Alternative Compliance Provisions of Section C, including those still working on their FSA. However, your alternative compliance standard may not grant credit for taking exams, studying and completing modules in the same way as the Basic Requirement Provisions (Section B). Read the rules of your selected alternative compliance standard to determine what counts toward meeting that standard.
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