The Continuing Education Thread

The other thread I had on the AO that I wanted to replicate here is a thread with continuing education information for CAS members. Hopefully this is helpful for people.

Who is covered by the CAS Continuing Education Policy?

You must meet the requirements of the CAS CE policy if you:

  1. are a member of the CAS
  2. are providing actuarial services,

What are the requirements of the CAS Continuing Education Policy?

Actuaries that are obligated to follow the CAS CE policy must:

  1. Meet the requirements of a Recognized National Standard
  2. Keep an accurate log of the CE obtained during the year
  3. Certify on the CAS website that you are in compliance (or that you are no longer providing actuarial services) with the CAS CE policy by 12/31
  4. Cooperate with random audits of your CE records by the CAS

What is a Recognized National Standard?

The CAS currently recognizes:

  1. US Qualification Standard (30 hours, with 3 professional, 6 organized, and no more than 3 general business)
  2. CIA Qualification Standard (Canada) (80 hours over rolling 2 years, with 30 hours guided plus core professionalism module every 2 years)
  3. Category 1 of the CPD Scheme of the UK FIA (30 hours, at least 20 hours technical skills, of which at least 10 hours external events, at least 2 hours professionalism, max 5 hours of private study)
  4. IAAustralia CPD Scheme (100 points per year average over 2 year period, 5 points annually of professionalism, see details for point schedule)
  5. ASHK Bylaw: Continuing Professional Development (30 hours, 20 related to main practice, of which 10 must be external and 6 must be Hong Kong specific; 2 hours professionalism)
  6. ASM Continuous Professional Development handbook - Category 1 (30 hours total , 14 technical, 2 professionalism)

Please refer to the actual documents, don’t rely on my simple summaries.

What if my work doesn’t require me to meet any of the National Standards?

The CAS says to pick the one ‘most relevant’ to your work and follow it.

I have to keep a log — what should it have in it?

If you are not an appointed actuary for an NAIC regulated entity, then the CAS standard is that it should include the date of the activity, a brief description of the activity, the sponsoring organization, the number of credits earned, whether the credit was self-study or organized and the subcategory for which the credit applies (i.e., professionalism, job-relevant topics or business and management skills).

If you ARE an appointed actuary, the NAIC has additional requirements. The CAS has a template excel log to meet the requirements of the NAIC.

Any other questions?

Post them below and hopefully someone will be able to help!