Membership & Education
 

Eligibility Requirements – PEC 2019

Conventional Route Candidates

Mutual Recognition Agreement (MRA) and Affiliate Route Candidates

Associate-Level Education

Credit for all ACIA-level requirements except for professionalism.

Credit for all ACIA- level requirements or equivalent, except for professionalism.

Primary Route

Credit for one track-specific exam:

FIN PEC track: Exams QFICOR, QFIADV, ERMGC, CFEFD, or CFESDM.

ILA PEC track: Exam ILALFVC.

RET PEC track: Exam RETFRC.

GRP PEC track: GHCORC. CIA Group Benefits Exam also required if credit for GHCORC was achieved before September 1, 2017.

P&C track: CAS 6-C.

All candidates must have at least two years of experience*. 

Demonstrated Canadian experience** relevant to the chosen PEC track in a specialty or sub-specialty where the candidate has spent at least 36 months within the last four years of their time working on a full-time basis.

 

Alternate Route

In lieu of the above-mentioned Fellow- level exams, a candidate can attend any PEC track provided they have accrued and can demonstrate Canadian experience** relative to the chosen PEC track in a specialty or sub-specialty where they have spent at least 36 months within the last four years of their time working on a full-time basis.

For FIN PEC track only:  No exam required if any recognized Fellowship track is complete (including Canadian exams) and two years of relevant experience to the FIN track.

In lieu of the above-mentioned primary route, a candidate can opt to successfully complete the associated examinations for the chosen PEC track as set out below, in addition to demonstrating at least two years of experience*. The experience may be gained in Canada or elsewhere.

FIN PEC track: SOA Exams QFICOR, QFIADV, ERMGC, CFEFD, or CFESDM.

ILA PEC track: SOA Exam ILALFVC.

RET PEC track: SOA Exam RETFRC.

GRP PEC track: GHCORC. CIA Group Benefits Exam also required if credit for GHCORC was achieved before September 1, 2017.

P&C track: CAS 6-C.

* The experience must be detailed using the relevant CIA form and certified by a recognized Fellow. Recognized Fellow designations are FCIA, FCAS, FSA, FIA (IFoA), FASSA (South Africa), and FIAA (Australia).

** The experience must be relevant to the chosen PEC track and must be detailed using the relevant CIA form, certified by an FCIA.

Additional Information

PEC Group and Health Track

For a transitional period, candidates in the Group and Health track of the SOA who wish to attend PEC must consider the following:

  1. They are required to write the CIA-administered Group examination in addition to SOA Exam GHCORC, if credit for GHCORC was achieved prior to fall 2017. Candidates who received credit for GHCORC in fall 2017 and beyond are not required to take the CIA exam.
  2. The transition period where an additional Group examination is required may last several years to ensure that candidates currently in the SOA education system cover the required syllabus material. 

PEC Property & Casualty (P&C) Track

A property and casualty track will be added in 2019 for P&C candidates, as credit for PEC and the CIA Professionalism Workshop (PW) will be required in 2019 to meet CIA requirements.

Transition Rules and Recognition by the Casualty Actuarial Society (CAS)

Starting in 2019, the CAS will accept successful completion of the CIA's Professionalism Workshop and the Practice Education Course as meeting the requirements for the CAS Course on Professionalism (COP).

The December 2018 CAS COP in Montréal is the last offering of the Canadian version of COP that the CIA will recognize and is the last offered by the CAS.

The Eligibility and Education Council (EEC) approved the following recognition and transition rules applicable to P&C candidates:

  1. The CAS COP completed in Canada by December 31, 2018 will provide credit for the CIA Professionalism Workshop and the CIA Practice Education Course until December 31, 2023 (a five-year recognition period for both PEC and PW); and
  2. The CAS COP completed in the US by December 31, 2019 and the CIA Professionalism Workshop completed by December 31, 2019 will provide credit for the CIA Practice Education Course until December 31, 2024 (a five-year recognition period for PEC only). No recognition for the US CAS COP will be granted for courses completed after January 1, 2020.

If you have any questions, please contact Leslie Lenton, project manager, education and professional development.