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Exemptions
E1. Is anyone exempt from the CPD Requirement?
No. All members must comply with the CPD Requirement. You comply by letting the SOA know as of each December 31 whether you've met the provisions of the Requirement. If you do not fulfill the requirement by meeting the Basic Requirement Provisions of Section B, or one of the Alternative Compliance Provisions of Section C, then your CPD status in the membership directory will be shown as "Non-compliant" and you will be required to tell users of your services about your failure to fulfill the requirement (See FAQs NC1, NC2 and NC4).
E2. Am I exempt if I don't practice in a traditional actuarial role?
No. All ASAs, FSAs and members holding the CERA credential are subject to the CPD Requirement. That includes anyone who works in traditional roles and areas of practice and those who retain their designation but have moved away from traditional actuarial work into emerging areas of practice, such as financial services, or non-traditional roles, such as marketing. The CPD Requirement simply ensures that you obtain the "job-relevant" education best suited for your professional development.
E3. Can I get an exemption or partial reduction in requirements if I work part-time?
No.
E4. Can I get an exemption if I'm retired?
No, but if you qualify for dues waiver because of retirement, the membership directory will show your CPD status as "Retired" (see FAQs RE2, RE3, and RE4).
E5. What if I become unemployed during a cycle or take a leave of absence to raise children or care for a family member? How will that affect the CPD Requirement?
You are always subject to the CPD Requirement regardless of employment status. You can use your credential, but if you have not fulfilled the CPD Requirement then the membership directory will show your CPD Requirement status as "Non-compliant." If you are not employed then you should have no users of your actuarial services who would need to be notified of your non-fulfillment of the requirement.
E6. Am I exempt if I am on a dues waiver?
No. See FAQs E4 and E5.
E7. Am I exempt if I earned my SOA credential through mutual recognition (rather than through the examination system)?
No. See FAQ G5
E8. I do not have to meet the U.S. Qualification Standard because I don't issue Statements of Actuarial Opinion in the United States. Does that make me exempt from the SOA Requirement?
No. See FAQ AC5
E9. I'm exempt from the CIA Qualification Standard. Does that make me exempt from the SOA Requirement?
No. See FAQ AC6
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