CAS Incorporating Recent Actuarial Exam Changes into Plans to Evolve its Credentialing Program
The CAS is committed to upholding our position as the leading organization for preparing professionals for careers as property/casualty actuaries, and a modernized credentialing program is a crucial element of that commitment. While the move to computer-based testing was a major milestone for the organization, achieving the CAS’s envisioned future, as described in the 2021-2023 CAS Strategic Plan, requires changes beyond how the CAS administers its exams. Despite any recent market developments, however, no changes to waivers for CAS preliminary exam requirements (1, 2, 3F) will go into effect before late 2022.
We understand that the Society of Actuaries recently announced changes to the Associate of Society of Actuaries (ASA) education pathway that eliminate Exam IFM, a requirement for earning CAS credentials. This follows an earlier announcement of a new SOA program that would allow students to earn credit for certain SOA exams, including exams required by the CAS, by meeting course and exam requirements at participating universities who qualify as Centers of Actuarial Excellence (CAE).
We realize that the SOA’s announcement raises many questions among CAS members and candidates. Accordingly, a team of experienced CAS admissions volunteers and staff is actively discussing the effects of the changes and any potential actions the CAS may take as a result, with a keen eye towards avoiding disruptions to those on a path to CAS credentials. Further deliberations will be held during the August CAS Board of Directors meeting, which will dovetail nicely with planned discussions of the CAS’s broader ongoing effort to evolve the CAS’s credentialing program while maintaining its rigor and relevance.
In the coming months, we look forward to announcing the details of any changes to CAS credentialing requirements that result from both our longer-term strategic goals and any market developments. We invite you to email any questions you may have about the CAS’s long-term credentialing strategy or the effects of the SOA’s announcements on CAS requirements to the CAS Administrative and Customer Support at ACS@casact.org.