Anyone else find the CAS Continuing education policy confusing? I may have missed it, but there’s so much out there about FAQ and what you can or can’t use, but not the policy.
I know it’s 30 hours, i know there are different topics, where does it simply explain that? Where is the simple version of “Oh, you’re CAS, okay, do 6 hours of this, 12 hours of that, 18 hours of the other thing. you only need 50 minutes of real life to get 60 minutes of CE time” that’s it.
Even the official policy, which is supposed to have the CE policy on page 3, does not appear to have the requirements, stated simply.
Anyone else find this frustrating, or know of where to easily, and simply stated find the CE requirements?
The CAS does not set standards. They require you meet one of the 6 recognized standards:
a. The Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States (U.S. Qualification Standard).
b. The Canadian Institute of Actuaries Qualification Standard - Continuing Professional Development (CIA Qualification Standard).
c. Category 1 of the CPD Scheme of the United Kingdom Institute and Faculty of Actuaries (U.K. CPD Scheme)
d. The Continuing Professional Development Standard of the Institute of Actuaries of Australia (IAAust CPD Standard).
e. Fellows with a statutory role in the Continuing Professional Development requirements of the Actuarial Society of Hong Kong (ASHK By-Law: CPD)
f. Category 1 – Appointed Actuaries of the Continuous Professional Development Handbook of the Actuarial Society of Malaysia (ASM CPD Handbook)
If you aren’t required to follow one of those because of where you work, then you pick the one most relevant to your work and follow that. Those documents are where you get the details about the # of hours and the requirements for professionalism, general business, organized, etc.
Page three pretty clearly states that the CAS requires you to meet the CE requirements of countries you do actuarial work in. If you are in the US, you need to follow the AAA standards:
Section 2.2 has the CE requirements you are looking for. (The FAQ may be helpful, too.)
If you are not in the US, some other standard likely applies to you. If you work in or for multiple countries, you may need to remain qualified under more than one standard, for instance, both the Canadian and US standards.