Examination and Study Material Fee Discount Program – Fall 2008

General Information

The Society of Actuaries Board of Directors and the Casualty Actuarial Society (CAS) Board of Governors are pleased to offer a measure designed to provide financial relief to eligible candidates of qualified countries. This program began in January 2001. This package describes the program details and contains the program application.

The CAS supports the program financially for any eligible property/casualty candidates while they are writing the joint CAS/SOA examinations (Examinations P, FM, and C). The CAS also maintains a similar program for its examinations (Examinations 3, 5–9) that are not offered jointly with the SOA. Candidates who are specializing in property/casualty or general insurance practice may direct any inquiries about fee discounts on the CAS upper–level examinations to Tom Downey at the CAS.

Candidate Eligibility Requirements

1. The Candidate must be a current full–time resident of a qualified country. (A complete list of qualified countries is attached.) Residents of the U.S. and Canada are not eligible.
2. The Candidate must attest that he or she is personally paying for examination fees and study materials and that he/she is not being reimbursed by an employer, or a company or other individual or entity.
3. The Candidate must complete a one–time application for financial relief, attesting to the need for assistance.
4. The Candidate will lose eligibility upon leaving the country, or upon receiving financial support or reimbursement for examination fees and/or SOA published study materials.
5. If a candidate meets the requirements and is approved for assistance, should the country lose eligibility in a subsequent year, the candidate will retain the right to assistance for a period of three years, starting from the date that the country loses its eligibility.
6. Candidates must write their examinations within a qualified country.
7. Candidates may not register for more than two examinations per exam session under the discount program. Standard fees will be assessed on registrations which exceed this limit. This limit will be observed when candidates register for both CAS and SOA exams.
8. Candidates may attempt the same examination no more than three times under the reduced examination fee program
9. The candidate must adhere to all stated requirements for the examination.

Program Details

• Approved candidates may not register for more than two examinations per exam session under the discount program. Standard fees will be assessed on registrations, which exceed this limit.
• Candidates may not register for the FSA exams if they have not previously written and earned credit for a minimum of three of the four Basic Education Exams P, FM, MLC, MFE and C.
• Standard registration rates apply to all candidates for the FAP modules, FAP Interim Assessment and the FAP Final Assessment, as well as all FSA modules. Standard registration rates also apply to the Associateship Professionalism Course (APC) and the Fellowship Admissions Course (FAC). No discounts will be applied.
• The SOA reserves the right to restrict registrations or purchases of study material.

Study Materials

• Study notes for Exams P, FM, MLC, MFE, and C are available electronically at no cost to the candidate.
• Study notes for the FSA exams will be available at reduced prices plus the cost of shipping.
• Textbooks published by the Society of Actuaries will be available at reduced prices plus the cost of shipping.
• Approved applicants may purchase only one copy of a particular textbook or study note package.
• Approved applicants may not purchase study materials, which are pertinent to courses for which they already have credit. Similarly, approved applicants may not purchase more than one type of study notes for the FSA exams.

Application Process

1. Candidates must apply to this program before attempting to register for an examination. Applications and exam registration forms will not be accepted concurrently.
2. The candidate must complete the attached application and submit it to the Society of Actuaries. A valid email address is required for approval. Candidates should ensure that their application is legible. Applications that are not legible due to poor handwriting or a poor fax transmission will not be processed. Applications with missing or erroneous information will be returned. All applications without a handwritten signature will be returned.
3. Upon approval, candidates will be sent specially marked examination registration, study note and textbook order forms. These order forms will indicate the reduced fees and prices available to the approved applicant. It is important to note that approved candidates may not distribute these forms to other candidates. Unauthorized distribution of these forms will result in disqualification from the discount program.
4. Candidates who do not receive their approval code and registration materials within 10 working days should contact Kim Tice.
5. Applications are accepted via e–mail, fax and standard mail.
6. For subsequent examination sessions, candidates who previously received assistance, and who continue to meet the criteria, will receive specially marked forms by e–mail. Candidates need only apply for assistance once.

• Candidates or employers may direct questions to Kim Tice, Basic Education Administrator at the Society of Actuaries.

• Society of Actuaries
• ph: 847.706.3640
• f: 847.273.8516
•  

* Excluding Hong Kong & Taiwan

Note: Examination centers are not established in all qualified countries. Also, the accessibility of examination services in the following countries is contingent upon the availability of secure and reasonable shipping methods: Algeria, Central African Republic, Congo, Cte d'Ivoire; Iran; Iraq; Kyrgyz; Lao PDR; Sudan; and Tajikistan.