Compatible exams with the USA?

[dekka83]

I was thinking about going to grad school in australia and taking exams there. I'm curious as to whether the exams will be credited in the United States as well though?

[bdschobel]

The Australia Institute of Actuaries grants credit for certain university courses, but the SOA does not, in general (ignoring for the moment VEE and mutual recognition). The only way for you to get SOA credit would be to become a Fellow in Australia and then apply for mutual recognition. Not likely to happen, it seems to me, unless you can pass everything while in college.

Bruce

[dekka83]

Thanks for the fast response Bruce.

[catman1]

They might be for the CAS...

Waiver of Examinations
Waiver of individual examination requirements will be granted by the CAS Board of Directors in instances where an applicant has passed or received credit for examinations sponsored by another recognized actuarial organization that cover equivalent material in both subject and depth. The granting of waivers by the Board will be based on the recommendation of the vice president-admissions. The vice president-admissions’ recommendation will be guided by the policy established by the CAS Education Policy Committee.

The CAS generally will not grant waiver of all or any portion of its examination requirements for work experience, contribution to actuarial literature, academic courses of study, or examinations of nonactuarial organizations. Individuals who claim competence in the areas covered by the examinations should not have difficulty demonstrating their competence by participating in the examination process.

Faculty of Actuaries, Institute of Actuaries (U.K.), Institute of Actuaries of Australia, and Institute of Actuaries of India
The CAS recognizes some of the examinations sponsored by the Faculty of Actuaries (Scotland) and the Institute of Actuaries (United Kingdom), Institute of Actuaries of Australia, and the Institute of Actuaries of India. Credit will be granted for examinations passed or waived in accordance with examination equivalencies between the CAS syllabus and the syllabi of each of the three aforementioned actuarial organizations. The CAS will not grant credit for examinations waived on account of academic records achieved in North American universities, nor for credit granted to candidates not qualifying directly in obtaining membership through the normal qualification/examination process. Credit will not be given to Fellows of the Faculty or Institutes who have attained their designation through mutual recognition rather than through the standard Faculty or Institutes credentialing process. Fellows by mutual recognition should pursue examination waivers based on their original credentials.

The following waiver policy has been approved by the CAS:

Subject of the Faculty of Actuaries, Institute of Actuaries (U.K.), Institute of Actuaries of Australia, and Institute of Actuaries of India* => Waiver Granted for CAS Exam/Educational Experience
CT1 => Exam 2/FM
CT2 => VEE-Corporate Finance
CT3 => Exam 1/P
CT4 and CT5 => Exam 3L
CT8 => Exam 3F/MFE
CT6 => Exam 4/C and VEE-Applied Statistical Methods
CT7 => VEE-Economics
* Waivers will not be granted for Faculty/Institute exam credit earned through coursework except for those universities on the Faculty/Institute list as of May 7, 2000 and universities that have been subsequently approved by the CAS.

Candidates requesting a waiver of an examination requirement should present their request to the vice president-admissions with appropriate evidence that demonstrates the passing of (or score on) the actuarial examination equivalent for which a waiver is requested. The vice president-admissions will review all such requests and recommend action to the CAS Board of Directors.

Please address all waiver requests to:
Vice President-Admissions, Casualty Actuarial Society, 4350 N. Fairfax Drive, Suite 250, Arlington, Virginia 22203, USA.

Waivers are considered on a case-by-case basis for examination equivalents of actuarial organizations not named above. Candidates must present their requests to the vice president-admissions and include with their applications documented evidence that demonstrates the asserted equivalence, as well as the appropriate educational policy material of their local actuarial organizations. If such material is not included, the vice president-admissions will request it from the candidates. The vice presidentadmissions will forward the request to the Education Policy Committee for a determination of whether sufficient equivalence exists to permit granting any examination waiver.