Educational Journey 2025
Actuarial candidates must pass a series of exams to become credentialed property and casualty actuaries and CAS members. The requirements outlined here will help guide you to the highly coveted Associate (ACAS) and Fellow (FCAS) designations.
SELECT CREDENTIALS
-
Start
-
ACAS
-
FCAS
Actuarial candidates must complete a set of requirements, including passing a series of exams, to become credentialed property and casualty actuaries and members of the CAS. The requirements outlined in the CAS Path to Success will lead you to the highly coveted Associate of the CAS, or ACAS and Fellow of the CAS, or FCAS, designations.
SELECT AN EXAM
-
VEEs
-
Exam 1
-
Exam 2
-
CAS DISCs
Actuarial candidates must complete a set of requirements, including passing a series of exams, to become credentialed property and casualty actuaries and members of the CAS. The requirements outlined in the CAS Path to Success will lead you to the highly coveted Associate of the CAS, or ACAS and Fellow of the CAS, or FCAS, designations.
SELECT A REQUIREMENT
-
MAS-I
-
MAS-II
-
Course on Professionalism
-
Exam 5
-
PCPA
-
PCPA Project
-
Exam 6
Actuarial candidates must complete a set of requirements, including passing a series of exams, to become credentialed property and casualty actuaries and members of the CAS. The requirements outlined in the CAS Path to Success will lead you to the highly coveted Associate of the CAS, or ACAS and Fellow of the CAS, or FCAS, designations.
SELECT AN EXAM
-
Exam 7
-
Exam 8
-
Exam 9
Availability
Year round
Test Type
College coursework
Test Date
Rolling basis year round
Test Administrator
Credit through university courses
Prior Knowledge (Assumed)
None
Next Suggested Steps
N/A
Exam 1 - Probability
Offerings and fees are dependent on which actuarial society offers the equivalent exam: SOA, IFoA, IAI, IAA, CAA, ASSA
REGISTRATION OPEN
Availability
6 times a year
Test Type
Multiple Choice
Time Allowed
3 hours
Score Type
Automated
Test Date
7 times a year
Test Administrator
Credit through other organizations
Prior Knowledge (Assumed)
None
Next Suggested Steps
Exam 2 - Financial Mathematics
Online Course 1 - Risk Management and Insurance Operations
Online Course 1 - Risk Management and Insurance Operations
Exam 2 - Financial Mathematics
Offerings and fees are dependent on which actuarial society offers the equivalent exam: SOA, IFoA, IAI, IAA, CAA, ASSA
REGISTRATION OPEN
Availability
6 times a year
Test Type
Multiple Choice
Time Allowed
3 hours
Score Type
Automated
Test Date
7 times a year
Test Administrator
Credit through other organizations
Prior Knowledge (Assumed)
Exam 1 - Probability
Next Suggested Steps
Online Course 1 - Risk Management and Insurance Operations
Availability
Year round
Test Type
Multiple Choice
Time Allowed
2 hours
Registration Fee
$765
Score Type
Automated
Test Date
Rolling basis year round
Test Administrator
CPCU-- The Institutes
Prior Knowledge (Assumed)
None
Next Suggested Steps
Exam 5
MAS-I
MAS-I
Availability
Spring and Fall Administration
Test Type
Multiple Choice
Time Allowed
4 hours
Registration Fee
$550
Score Type
Automated
Test Date
Starts on: 08/04/2025
Ends on: 08/11/2025
Note: If a candidate observes a religious or national holiday during the exam window, CAS can extend their window by the number of holiday dates observed - up to a maximum of 4 days at the end of the exam window.*
Ends on: 08/11/2025
Note: If a candidate observes a religious or national holiday during the exam window, CAS can extend their window by the number of holiday dates observed - up to a maximum of 4 days at the end of the exam window.*
Test Administrator
CAS
Prior Knowledge (Assumed)
Exam 1 - Probability
Exam 2 - Financial Mathematics
Exam 2 - Financial Mathematics
Next Suggested Steps
Exam MAS-II — Modern Actuarial Statistics-II
Online Course 1 - Risk Management and Insurance Operations
Online Course 1 - Risk Management and Insurance Operations
Availability
Spring and Fall Administration
Test Type
Multiple Choice
Time Allowed
4 hours
Registration Fee
$550
Score Type
Automated
Test Date
Starts on: 08/04/2025
Ends on: 08/11/2025
Note: If a candidate observes a religious or national holiday during the exam window, CAS can extend their window by the number of holiday dates observed - up to a maximum of 4 days at the end of the exam window.*
Ends on: 08/11/2025
Note: If a candidate observes a religious or national holiday during the exam window, CAS can extend their window by the number of holiday dates observed - up to a maximum of 4 days at the end of the exam window.*
Test Administrator
CAS
Prior Knowledge (Assumed)
Exam 1 - Probability
Exam MAS-I — Modern Actuarial Statistics-I
Exam MAS-I — Modern Actuarial Statistics-I
Next Suggested Steps
Exam 5 - Basic Ratemaking and Estimating Claim Liabilities
Online Course 1 - Risk Management and Insurance Operations
Course on Professionalism
Online Course 1 - Risk Management and Insurance Operations
Course on Professionalism
Availability
4 times a year
Test Type
Virtual or In Person
Time Allowed
2 days
Score Type
Pass/Fail
Test Administrator
CAS
Prior Knowledge (Assumed)
Exam 1 - Probability
Exam 2 - Financial Mathematics
Exam 5 - Basic Ratemaking and Estimating Claim Liabilities
Exam 6 - Regulation and Financial Reporting
VEEs and CAS DISCs
Exam 2 - Financial Mathematics
Exam 5 - Basic Ratemaking and Estimating Claim Liabilities
Exam 6 - Regulation and Financial Reporting
VEEs and CAS DISCs
Next Suggested Steps
N/A
Availability
Spring and Fall Administration
Test Type
Constructed Response (numerical + essay)
Time Allowed
4 hours
Registration Fee
$850
Score Type
Human
Test Date
Starts on: 10/14/2025
Ends on: 10/20/2025
Note: If a candidate observes a religious or national holiday during the exam window, CAS can extend their window by the number of holiday dates observed - up to a maximum of 4 days at the end of the exam window.*
Ends on: 10/20/2025
Note: If a candidate observes a religious or national holiday during the exam window, CAS can extend their window by the number of holiday dates observed - up to a maximum of 4 days at the end of the exam window.*
Test Administrator
CAS
Prior Knowledge (Assumed)
Exam 1 - Probability
Exam 2 - Financial Mathematics
Exam 2 - Financial Mathematics
Next Suggested Steps
Exam 6 - Regulation and Financial Reporting
Check credits for Course on Professionalism
Check credits for Course on Professionalism
Availability
Continuous
Test Type
Virtual
Time Allowed
2 hours
Registration Fee
$300
Score Type
Pass/Fail
Test Date
Project Registration will open on February 18, 2025 and close June 6, 2025. Refund deadline is June 6, 2025
Prior Knowledge (Assumed)
Exam MAS-I — Modern Actuarial Statistics-I
Exam MAS-II — Modern Actuarial Statistics-II
Exam 5 - Basic Ratemaking and Estimating Claim Liabilities
Exam MAS-II — Modern Actuarial Statistics-II
Exam 5 - Basic Ratemaking and Estimating Claim Liabilities
Next Suggested Steps
Exam 6U — Regulation and Financial Reporting (US)
PCPA Project
PCPA Project
Availability
4x per year
Test Type
Virtual
Time Allowed
15 days
Registration Fee
$700
Score Type
Human
Test Date
The PCPA requirement begins January 1, 2026.
Prior Knowledge (Assumed)
Exam MAS-I — Modern Actuarial Statistics-I
Exam MAS-II — Modern Actuarial Statistics-II
Exam 5 - Basic Ratemaking and Estimating Claim Liabilities
PCPA Exam
Exam MAS-II — Modern Actuarial Statistics-II
Exam 5 - Basic Ratemaking and Estimating Claim Liabilities
PCPA Exam
Next Suggested Steps
Exam 6U — Regulation and Financial Reporting (US)
Exam 6 - Regulation and Financial Reporting
Availability
Spring and Fall Administration
Test Type
Constructed Response (numerical + essay)
Time Allowed
4 hours
Registration Fee
$850
Score Type
Human
Test Date
Starts on: 10/14/2025
Ends on: 10/20/2025
Note: If a candidate observes a religious or national holiday during the exam window, CAS can extend their window by the number of holiday dates observed - up to a maximum of 4 days at the end of the exam window.*
Ends on: 10/20/2025
Note: If a candidate observes a religious or national holiday during the exam window, CAS can extend their window by the number of holiday dates observed - up to a maximum of 4 days at the end of the exam window.*
Test Administrator
CAS
Prior Knowledge (Assumed)
Exam 1 - Probability
Exam 2 - Financial Mathematics
DISC: Introduction to Data and Analytics
DISC: Risk Management and Insurance Operations
DISC: Insurance Accounting, CA, IL, and IR
Exam 2 - Financial Mathematics
DISC: Introduction to Data and Analytics
DISC: Risk Management and Insurance Operations
DISC: Insurance Accounting, CA, IL, and IR
Next Suggested Steps
Exam 7 - Advanced Estimation of Claims Liabilities
Exam 8-Advanced Ratemaking
Exam 8-Advanced Ratemaking
Availability
Spring Administration
Test Type
Constructed Response (numerical + essay)
Time Allowed
4 hours
Registration Fee
$850
Score Type
Human
Test Date
Starts on: 10/14/2025
Ends on: 10/20/2025
Note: If a candidate observes a religious or national holiday during the exam window, CAS can extend their window by the number of holiday dates observed - up to a maximum of 4 days at the end of the exam window.*
Ends on: 10/20/2025
Note: If a candidate observes a religious or national holiday during the exam window, CAS can extend their window by the number of holiday dates observed - up to a maximum of 4 days at the end of the exam window.*
Test Administrator
CAS
Prior Knowledge (Assumed)
Exam 1 - Probability
Exam 2 - Financial Mathematics
Exam MAS-II — Modern Actuarial Statistics-II
Exam 5 - Basic Ratemaking and Estimating Claim Liabilities
VEE-Corporate Finance
Exam 2 - Financial Mathematics
Exam MAS-II — Modern Actuarial Statistics-II
Exam 5 - Basic Ratemaking and Estimating Claim Liabilities
VEE-Corporate Finance
Next Suggested Steps
Exam 8-Advanced Ratemaking
Exam 9 — Risk Management for Actuaries
Exam 9 — Risk Management for Actuaries
Availability
Fall Administration
Test Type
Constructed Response (numerical + essay)
Time Allowed
4 hours
Registration Fee
$850
Score Type
Human
Test Date
Starts on: 10/14/2025
Ends on: 10/20/2025
Note: If a candidate observes a religious or national holiday during the exam window, CAS can extend their window by the number of holiday dates observed - up to a maximum of 4 days at the end of the exam window.*
Ends on: 10/20/2025
Note: If a candidate observes a religious or national holiday during the exam window, CAS can extend their window by the number of holiday dates observed - up to a maximum of 4 days at the end of the exam window.*
Test Administrator
CAS
Prior Knowledge (Assumed)
Exam 1 - Probability
Exam 2 - Financial Mathematics
Exam MAS-I — Modern Actuarial Statistics-I
Exam MAS-II — Modern Actuarial Statistics-II
Exam 5 - Basic Ratemaking and Estimating Claim Liabilities
Exam 2 - Financial Mathematics
Exam MAS-I — Modern Actuarial Statistics-I
Exam MAS-II — Modern Actuarial Statistics-II
Exam 5 - Basic Ratemaking and Estimating Claim Liabilities
Next Suggested Steps
Exam 7 - Advanced Estimation of Claims Liabilities
Exam 9 — Risk Management for Actuaries
Exam 9 — Risk Management for Actuaries
Availability
Spring Administration
Test Type
Constructed Response (numerical + essay)
Time Allowed
4 hours
Registration Fee
$850
Score Type
Human
Test Date
Starts on: 04/15/2025
Ends on: 04/21/2025
Note: If a candidate observes a religious or national holiday during the exam window, CAS can extend their window by the number of holiday dates observed - up to a maximum of 4 days at the end of the exam window.*
Ends on: 04/21/2025
Note: If a candidate observes a religious or national holiday during the exam window, CAS can extend their window by the number of holiday dates observed - up to a maximum of 4 days at the end of the exam window.*
Test Administrator
CAS
Prior Knowledge (Assumed)
Exam 1 - Probability
Exam 2 - Financial Mathematics
Exam MAS-II — Modern Actuarial Statistics-II
Exam 5 - Basic Ratemaking and Estimating Claim Liabilities
VEE-Economics
VEE-Corporate Finance
Exam 2 - Financial Mathematics
Exam MAS-II — Modern Actuarial Statistics-II
Exam 5 - Basic Ratemaking and Estimating Claim Liabilities
VEE-Economics
VEE-Corporate Finance
Next Suggested Steps
Exam 7 - Advanced Estimation of Claims Liabilities
Exam 8-Advanced Ratemaking
Exam 8-Advanced Ratemaking
Exam Path
→
Plan Your Exam Path 2025
While there’s no one way to attain your CAS credentials, certain exams are still suggested to complete before others. Select any available exams here and see what paths open to you along your educational journey.
Start
CAS Foundational Requirements
-
VEEs
-
Exam 1
-
Exam 2
-
CAS DISCs
ACAS
Requirements for Associateship
-
MAS-I
-
MAS-II
-
Course on Professionalism
-
Exam 5
-
PCPA
-
PCPA Project
-
Exam 6
FCAS
Requirements for Fellowship
-
Exam 7
-
Exam 8
-
Exam 9
→
