Exams

Your path to becoming a credentialed actuary and earning our ACAS and FCAS designations, which are unmatched for their rigor, integrity and relevance.

Educational Journey

Actuarial candidates must pass a series of required exams to become credentialed property and casualty actuaries and members of the CAS. The requirements outlined here will lead you to the highly coveted Associate of the CAS, or ACAS and Fellow of the CAS, or FCAS, designations.
Start
Begin Your Journey
1
EXAM 1*

Probability

2
EXAM 2*

Financial Mathematics

Course
Validation by Educational Experience (VEE)**
  • Accounting & Finance
  • Economics

**Typically completed while in school

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3
EXAM 3F*

Financial Economics

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Congrats!

You have completed the foundational requirements.

i
MAS-I

Modern Actuarial Statistics I

ii
MAS-II

Modern Actuarial Statistics II

Course
Online Courses
  • Risk Mgmt. & Insurance Ops.
  • Insurance Accounting, Coverage, Analysis, Insurance Law & Insurance Regulation
Course
Course on Professionalism
5
EXAM 5

Basic Techniques for Ratemaking and Estimating Claim Liabilities

6
EXAM 6

Regulation & Financial Reporting (Nation-Specific). Exam 6 - US. Exam 6 - Canada. Exam 6 - Taipei. Exam 6 - International.

ACAS
Congrats!

You have achieved the ACAS Credential.

7
EXAM 7

Estimation of Policy Liabilities, Insurance Co. Valuation, & ERM

Exam 7 is also required for an ACAS to sign a NAIC Statement of Actuarial Opinion.

8
EXAM 8

Advanced Ratemaking

9
EXAM 9

Financial Risk & Rate of Return

FCAS
Congrats!

You have achieved the FCAS Credential.

*The CAS will grant waivers for candidates who pass examinations offered by other organizations that cover our CAS learning objectives. These organizations include but are not limited to: Society of Actuaries, Canadian Institute of Actuaries, Institute and Faculty of Actuaries (UK), Actuaries Institute (Australia), Actuarial Society of South Africa, Institute of Actuaries of India, and China Association of Actuaries. Please note that the path as outlined is intended to illustrate a typical sequence through the requirements; candidates are not restricted to the path as depicted.

Learn Before You Register

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About Registration
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Exam Fees
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Principles & Policies
Discover more about requirements for conduct as well as how to report exam misconduct.
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Computer-Based Testing
Learn about the CAS and computer-based testing.
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Transition Rules
Document
Waiver Policy

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