Edu Individual Life Ann
Edu Individual Life Ann
Edu Individual Life Ann
and Annuities Track topics in enterprise risk management, and the ability
to understand, identify, analyze, measure, manage and
allocate risk using models and metrics.
A guide to Fellowship • F
inancial Economics Module
What candidates gain: Introductions to utility theory,
empirical anomalies, corporate finance as applied to
What does the track encompass? insurance companies and basic healthcare economics.
This track provides candidates with a thorough Candidates on this track also learn asset pricing models
understanding of life and annuity product design and and the application of stochastic models to hedging
pricing, setting and monitoring of pricing, valuation and techniques.
experience assumptions to be used by Pricing and Valuation
Actuaries, emerging financial and valuation standards, Additional FSA candidate requirements:
capital management, and reinsurance.
• Decision Making and Communication (DMAC) Module
• R
egulation and Taxation Module • Fellowship Admissions Course (FAC)
(English and Taiwan versions)
What candidates gain: A broad overview of the *Candidates completing the ERM Module and Exam (and
regulatory environment that affects the life and annuity other requirements) also earn the CERA credential.
insurance industry overall and actuaries in particular.
Candidates will learn about the impact of regulation What does it mean to be a member of the SOA?
and taxation on policy design, pricing, reserving and
compliance monitoring. All FSAs credentialed by the Society of Actuaries are
members of the SOA. As members of the SOA, FSAs
• L
ife Pricing Exam are able to draw on its vast network and enjoy exclusive
What candidates gain: Working knowledge of product benefits, including access to:
types, features and benefits. Candidates will gain a
firm grasp of the relationship between the product • A
dvanced actuarial and risk management education and
features, their inherent risks, and the selection of knowledge-sharing opportunities
appropriate pricing assumptions, profit measures • T
he most research and variety of publications on an array
and modeling approaches. of risk management topics that will help in their jobs
• L
ife Finance and Valuation Exam • M
embers-only social and professional networking
(U.S. and Canadian versions) communities
What candidates gain: The ability to understand and • M
embers-only pricing on professional development
apply valuation principles of individual life insurance opportunities
and annuity products issued by life insurance companies,
and analyze the implications of emerging financial and Members also enjoy rich leadership and volunteer
valuation standards. experiences, impacting the actuarial and business
community—and society at large—by helping to shape
• E
nterprise Risk Management (ERM) Module*
curriculum, perform candidate outreach, enhance media
What candidates gain: A thorough understanding of
operational risks, and an ability to develop and analyze visibility, and contribute to the development of thought
economic capital models. Candidates will also be leadership and research.
exposed to leading risk management approaches.
Learn more about the Individual Life and Annuities pathway
• L
ife Risk Management (LRM) Exam or ERM Exam* at soa.org/pathways.
What candidates gain (LRM Exam): In addition to
an overview of the principles of risk management, Trust in the advantages of a rigorous and cutting-edge
candidates will learn about the various sources of risks education that the Society of Actuaries can provide.
faced by an insurer. Key risk measurement techniques
and calculations will be covered, as well as principles of
modeling, cash flow testing and asset-liability matching.