Basic Education Waiver Policy
The CAS’s Basic Education Waiver Policy addresses the extent to which the CAS will grant waivers of any of its ACAS basic education requirements
The Board of Directors agrees that an exam waiver should be considered for verified educational accomplishments, e.g., exams or university courses, required by another actuarial organization that substantially meet the tasks of a particular CAS exam with reasonably equivalent rigor and level of mastery of the material. The Board agrees that the alternative should not be required to cover every task that is covered in the CAS content outline for a particular exam in order to consider a waiver. Tasks covered by the alternative but not covered in the CAS content outline may be considered as substitutes for tasks covered in the CAS content outline, if the material is of similar relevance when determining whether the coverage is substantially met.
The CAS may accept a professionalism course offered by another actuarial organization provided that it is deemed equivalent to the CAS Course on Professionalism or a supplement is taken to address any significant CAS requirement that may be lacking. Other examples where CAS requirements may be waived include Data and Insurance Courses (DISCs) or Validation by Educational Experience (VEE) requirements. In general, the CAS does not grant waivers for Fellowship level exams.
The CAS will not grant waiver of all or any portion of its examination requirements solely based on work experience or contribution to actuarial literature.
Under this Policy, the granting of waivers is assigned to the Executive Council based on the recommendation of the Vice President-admissions after a review completed by CAS Staff.
Approved by the CAS Board of Directors 03/16/2026
