Educational Journey 2023

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

  • Online Courses

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

  • 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

VEE-Economics and VEE-Accounting and Finance

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

Availability
6 times a year
Test Type
Multiple Choice
Time Allowed
3 hours
Registration Fee
$250
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

Exam 2 - Financial Mathematics

Offerings and fees are dependent on which actuarial society offers the equivalent exam: SOA, IFoA, IAI, IAA, CAA, ASSA

Availability
6 times a year
Test Type
Multiple Choice
Time Allowed
3 hours
Registration Fee
$250
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

Online Courses

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

Exam MAS-I
Modern Actuarial Statistics-I

Availability
Spring and Fall Administration
Test Type
Multiple Choice
Time Allowed
4 hours
Registration Fee
$550
Score Type
Automated
Test Date
Starts on: 11/01/2022
Ends on: 11/07/2022
Week long window
Test Administrator
CAS
Prior Knowledge (Assumed)
Exam 1 - Probability
Exam 2 - Financial Mathematics
Next Suggested Steps
Exam MAS-II — Modern Actuarial Statistics-II
Online Course 1 - Risk Management and Insurance Operations

Exam MAS-II
Modern Actuarial Statistics-II

Availability
Spring and Fall Administration
Test Type
Multiple Choice
Time Allowed
4 hours
Registration Fee
$550
Score Type
Automated
Test Date
Starts on: 11/01/2022
Ends on: 11/07/2022
Week long window
Test Administrator
CAS
Prior Knowledge (Assumed)
Exam 1 - Probability
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

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 Online Courses
Next Suggested Steps
N/A

Exam 5 - Basic Ratemaking and Estimating Claim Liabilities

Availability
Spring and Fall Administration
Test Type
Constructed Response (numerical + essay)
Time Allowed
4 hours
Registration Fee
$775
Score Type
Human
Test Date
Starts on: 10/25/2022
Ends on: 10/31/2022
Week long window
Test Administrator
CAS
Prior Knowledge (Assumed)
Exam 1 - Probability
Exam 2 - Financial Mathematics
Next Suggested Steps
Exam 6 - Regulation and Financial Reporting
Check credits for Course on Professionalism

Exam 6 - Regulation and Financial Reporting

Availability
Spring and Fall Administration
Test Type
Constructed Response (numerical + essay)
Time Allowed
4 hours
Registration Fee
$775
Score Type
Human
Test Date
Starts on: 10/25/2022
Ends on: 10/31/2022
Test Administrator
CAS
Prior Knowledge (Assumed)
Exam 1 - Probability
Exam 5 - Basic Ratemaking and Estimating Claim Liabilities
Online Course 2 - Insurance Accounting, Coverage Analysis, Insurance Law, and Insurance Regulation
Next Suggested Steps
Exam 7-Estimation of Policy Liabilities, Insurance Company Valuation, and Enterprise Risk Management
Exam 8 — Advanced Ratemaking

Exam 7-Estimation of Policy Liabilities, Insurance Company Valuation, and Enterprise Risk Management

Availability
Spring Administration
Test Type
Constructed Response (numerical + essay)
Time Allowed
4 hours
Registration Fee
$725
Score Type
Human
Test Date
Starts on: 04/30/2022
Ends on: 05/06/2022
Week long 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
Next Suggested Steps
Exam 8 — Advanced Ratemaking
Exam 9 — Financial Risk and Rate of Return

Exam 8 — Advanced Ratemaking

Availability
Fall Administration
Test Type
Constructed Response (numerical + essay)
Time Allowed
4 hours
Registration Fee
$775
Score Type
Human
Test Date
Starts on: 10/25/2022
Ends on: 10/31/2022
Week long 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
Next Suggested Steps
Exam 7-Estimation of Policy Liabilities, Insurance Company Valuation, and Enterprise Risk Management
Exam 9 — Financial Risk and Rate of Return

Exam 9 — Financial Risk and Rate of Return

Availability
Spring Administration
Test Type
Constructed Response (numerical + essay)
Time Allowed
4 hours
Registration Fee
$725
Score Type
Human
Test Date
Starts on: 04/30/2022
Ends on: 05/06/2022
Week long 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
Next Suggested Steps
Exam 7-Estimation of Policy Liabilities, Insurance Company Valuation, and Enterprise Risk Management
Exam 8 — Advanced Ratemaking
Plan
Exam Path

Plan Your Exam Path 2023

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

  • Online Course 1

  • Online Course 2

  • Online Course 3

ACAS

Requirements for Associateship

  • MAS-I

  • MAS-II

  • Course on Professionalism

  • Exam 5

  • Exam 6

FCAS

Requirements for Fellowship

  • Exam 7

  • Exam 8

  • Exam 9

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