RECOGNITION AT ASSOCIATE AND FELLOW LEVEL
We have Mutual Recognition Agreements with the following actuarial societies:
■Institute of Actuaries
■Faculty of Actuaries
■Society of Actuaries
■Casualty Actuarial Society
■Actuarial Society of India
■Canadian Institute of Actuaries
■Society of Actuaries in Ireland
■Institute of Actuaries of Japan
■Actuarial Society of South Africa
Basically these MRAs meant that each society will recognise the other societies Associates and Fellows. There may be some conditions that apply to this. For example, in Australia we ask an Associate or Fellow from one of these societies that we have an MRA with to join as an Accredited member and then they have to live and work in Australia for 6 months before being eligible to become an Associate of Fellow of the Institute of Actuaries of Australia.
The following page of our website has link to all of the above MRA which goes into the details of each one.
RECOGNITION OF PART I EXAMS
In terms of recognition of individual exams, we recognise all of the UK CT exams and any of societies exams if the UK recognise them as the equivalent of their CT. The UK generally SoA, CAS, South African and Chinese subject as equivalents to varying degress. The only conditions are that it sometime depends on WHEN the student completed the SoA or CAS exams. There have been a lot of changes over the years and the UK only recognise a exam from a previous year, according to the recognition agreements that were in place at the time. The UK ask you to send an email to exemptions@actuaries.org.uk to confirm recognition (or eligibility for exemption) for old SoA and CAS exams.
The following page on the Institute and Faculty of Actuaries website has all the details on which exams they recognise (and this means we recognise them) from each of the other societies:
RECOGNITION OF PART II AND III EXAMS
As far as our Part II and Part III goes, we do not recognise exams from any other society. However, the UK will accept our Part II as the equivalent of their CA-1 subject. The SoA do not accept our Part II as an equivalent of their Fundamentals of Actuarial Practice even though it is broadly similar.
If any of your students have particular questions about what recognition they would get for a particular society, they are welcome to emaileducation@actuaries.edu.au for assistance.
Correction to the above,
The US Society recognises all the part I CT exams, and the overall FIAA designation, but at this stage there is no crossover of any of the other exams for Parts II and III.
Basically, once you finish stage I, you have to decide where you want to work and stay because the system that works in country A does not recognize the system in country B and the same applies to country C.
So, now everyone doing actuarial, think about your future!! No delays or else you will have to redo your part II and above!! Good luck everyone!!
No comments:
Post a Comment