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Structured Credit (Section B)
SC1. What is structured credit?
Structured credit involves any learning experience in which there is an opportunity for interaction among participants, or any experience derived from such an interactive learning experience (see FAQs SC7, SC8, SC9, SC10 and SC11).
SC2. Does structured education through my employer count toward the structured credit requirement?
Yes. However, at least 7.5 units of structured credit each cycle must come from a source other than your employer. The 7.5 units minimum is to ensure that you receive continuing education from sources other than your fellow employees. If your employer sponsors a structured education event where an outside (non–employee) speaker is present, then that structured education is considered to come from a source other than your employer and counts toward the 7.5 units minimum.
Example: Paul Member attends "lunch 'n' learn" sessions sponsored by his employer where his fellow employees present on professionalism and job-relevant topics. He earns 32 units of structured credit in 2009 and 2010 from these sessions. Paul must complete another 7.5 units of structured credit from a source other than his employer to meet his structured unit requirement.
Example: Sarah Member's employer sponsors a one-day meeting for employees where non-employee speakers are invited to discuss job-relevant topics of interest (e.g., accounting standards). There are four 75-minute sessions; three of the sessions include a non-employee speaker on the panel, while the fourth only includes fellow employees. Sarah can count this event for 3.75 hours (4.5 units) of job-relevant structured CPD credit from a source other than her employer and 1.25 hours (1.5 units) of job-relevant employer sponsored structured credit.
Example: Andrew Member's employer sponsors a session where there is a combination of employee speakers and non-employee speakers discussing job-relevant topics. The session runs for three hours. Because the session includes non-employee speakers, David can count this event as 3.6 units of structured job-relevant CPD credit coming from a source other than his employer.
SC3. What if I attend an event sponsored by someone other than my employer but a fellow employee is the speaker? Is structured credit earned from that event employer or non-employer?
You earn non-employer structured credit. If you participate in an event which has open participation (not limited to employees of the sponsor) then the CPD credit gained from that event is considered to be a non-employer sponsored credit. Other attendees were there (or could have been there) from an employer other than your own, which permitted the sharing of views that don't solely reflect the views of your employer.
SC4. Does education from other actuarial and non-actuarial professional organizations count as structured education?
Yes. You can earn structured CPD credit from the SOA or any other actuarial or non-actuarial professional organization. The SOA will accept structured credit from any professional source, as long as it qualifies as either job-relevant or business and management skills.
SC5. Does participation in electronic discussion forums where members discuss professional issues count as structured credit?
No. For this purpose, electronic discussion forums are considered to be an informal gathering of colleagues, the 21st century equivalent to the discussion around the water cooler. As such, they are not considered to be a "learning experience" and do not count as CPD credit (either structured or self-study). If the discussion forum is used as part of an online classroom, it can count for structured credit (see FAQ SC6).
SC6. When are online courses considered to be structured credit, and when are they self-study credit?
An online course can provide (at least some) structured credit if there is an opportunity for interaction. For example, if there are "live" sessions where the instructor and students can interact, similar to a traditional classroom, these live sessions are the equivalent of classroom time and count as structured credit.
Or, the presence of an online discussion forum as part of an online course would provide participants the opportunity for interaction, allowing (at least some of) that course to be considered for structured credit. An online course with no opportunity to interact with the instructor or other participants would not earn structured CPD credit, but it would be eligible for self-study credit.
SC7. How can I earn structured credit by "listening to an audio recording, viewing a video recording or reading a transcript of the event?"
There are two ways to achieve credit from an organized activity where participants have the opportunity to interact. First, live participation in the event (e.g. attend a seminar, participate in a webcast). Secondly, members can earn structured credit if they relive the live experience through some recorded means: audio recordings, video recordings or transcripts of the event. The audio, video or transcript must be of an event where there was an opportunity for interaction. If you are listening to an audio, viewing a video or reading the transcript of an event, you claim credit for the year in which you're listening, watching or reading, not the year for which the event took place.
Example: In March 2015 Sandra Member purchases the audio recording of an industry conference held in 2014. During April, she listens to 14.5 hours of audio recordings from that conference, and determines that 13 of them are relevant to her job. She can claim 15.6 units of structured job-relevant CPD credit in 2015.
SC8. If I'm listening to an audio, viewing a video or reading a transcript from an event, is there any "expiration date" past which the event no longer would be considered job relevant credit?
You are responsible for determining what content is job-relevant to you. There is no firm expiration date after which an audio recording, video recording or transcript would not be able to be used to meet the CPD Requirement. However, reading a transcript of a session from 1983 about potential regulatory changes in insurance is likely not job relevant in 2008. You are responsible for ensuring that the material you count toward meeting the SOA CPD Requirement meets the definition of job-relevant.
SC9. I read a magazine article that reflects a panel discussion. Does that count as structured credit?
It depends. If that panel discussion was presented at a live event–a meeting, seminar, webcast–and the article is a transcript of the event, then reading it does count as structured credit. However, if the panel discussion was brought together to generate the article, reading the article is self-study, not structured, credit. The test is two-pronged: first, the panel discussion had to have been held at a live event, and second, the article must be a transcript of the discussion. The article must meet both prongs of the test to count as structured credit.
SC10. Does reading session slides or a session outline count as structured credit?
No. Slides and outlines do not provide the full impression of the event; reading slides or an outline does not give you all the detail that "live" participants received. Only a transcript can be read to earn structured CPD credit.
SC11. Does reading an article summarizing a meeting session count as structured credit?
No (although it would count as self-study credit). Again, only a true transcript of the event provides the complete detail that participants received in the session itself which qualifies reading the transcript as structured credit.
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