Education

ACIA transition rules (effective January 1, 2022)

ACIA Capstone Exam and module

Pathway 1 candidates must meet the ACIA (Associate of the Canadian Institute of Actuaries) Capstone Exam and module requirements. 

Pathway 2 candidates using qualifications obtained:

a. from a recognized actuarial organization must meet the ACIA module requirement; or
b. from an actuarial organization that is not recognized by the CIA must meet the ACIA Capstone Exam and module requirements. 

The following describes exemptions from ACIA Capstone Exam and module requirements, with educational activities completed to December 31, 2023.

1. ACIA Capstone Exam

To be exempt from the ACIA Capstone Exam, candidates must have completed a recognized degree from a CIA-accredited university between June 30, 2015, and October 31, 2023, and have exams/UAP credit for the following:

a. P, FM, IFM, LTAM, STAM, and SRM; 
or
b. 1, 2, 3F, MAS I, and MAS II.

Additional remarks

1) Consideration may be given to students who have a combination of exams and credits listed in 1a and 1b above.
 
2) For purposes of transition through October 31, 2023, CIA credit for LTAM and STAM can also be achieved through:

i. LTAM: FAM-L and ALTAM
ii. STAM: FAM-S and ASTAM

Candidates with UAP or exam credit for LTAM have the possibility of meeting Capstone Exam exemption requirements with confirmed credit for FAM–S until October 31, 2023.

Candidates with UAP or exam credit for STAM have the possibility of meeting Capstone Exam exemption requirements with confirmed credit for FAM-L until October 31, 2023.

3) All individual UAP credit exam credits requirements must be met with courses completed prior to August 31, 2023. The deadline to apply for UAP credits is September 30, 2023.

4) All Society of Actuaries (SOA) or Casualty Actuarial Society (CAS) exams used for exemption must be successfully completed, with confirmation of success obtained before October 31, 2023.
 
5) Students who are unable to complete their degree by October 31, 2023, due to co-op or internship schedules and require additional time to complete their degree will be given special consideration on a case-by-case basis for up to one year.

2. ACIA module

To be exempt from the ACIA module, Pathway 1 and 2 candidates must have credit for:

a. SOA FAP modules and assessments and Exam PA completed by December 31, 2023; or 
b. CAS Online Courses 1 and 2 and MAS II completed prior to December 31, 2023.

SOA candidates pursuing FCIA (Fellow of the Canadian Institute of Actuaries) through Pathway 1 must complete their FCIA-level education, including the Practice Education Course (PEC), by December 31, 2023, to be exempt from the ACIA module. After December 31, 2023, all candidates will be required to complete the ACIA module.

Associate-level equivalencies

1. Equivalencies with CAS activities

The following chart shows a side-by-side comparison of CIA associate level educational activities with CAS associate-level exams and online courses. Activities identified in each row include common topics. From a CIA perspective, equivalency is achieved with completion of all listed activities.

  CIA activities   CAS activities with common topics
   ACIA Capstone Exam
 All listed below
   ACIA module Online Courses 1 and 2 and
MAS II*            
Online Course 3**
CIA-accredited
degree 
 Completed in Year 3–4   MAS I + MAS II
 Completed in Year 2–3  Exam 3F***
 Completed in Year 1–2 Exam 2
Exam 1
 Completed in Year 1–3  VEE AF, E

*Along with a recognized degree, Online Courses 1 and 2 and MAS II completed before December 31, 2023, will provide credit for the ACIA module.
**Online Course 3 offered starting in fall 2022.
***3F no longer offered from fall 2022.

2. Equivalencies with SOA activities

The following chart shows a side-by-side comparison of CIA associate level educational activities with SOA associate-level exams and modules. Activities identified in each row include common topics. From a CIA perspective, equivalency is achieved with completion of all listed activities.


CIA activities  SOA activities with common topics 
   ACIA Capstone Exam   All listed below + Exam ATPA
   ACIA module  FAP modules + Exam PA*
 CIA-
accredited
degree
 Completed in Year 3–4   FAM, ALTAM (or ASTAM), SRM
 Completed in Year 2–3  Exam IFM**
 Completed in Year 1–2 Exam FM
Exam P
 Completed in Year 1–3  VEE AF, E
VEE MS
*Along with a recognized degree, FAP and Exam PA completed before December 31, 2023, will provide credit for the ACIA module.

**IFM no longer offered from fall 2022.

FCIA transition rules (effective January 1, 2022)

FCIA exams and modules

The CIA may receive requests from candidates who have passed some SOA or CAS fellow-level examinations/modules to pursue FCIA qualification with CIA Fellow level exams and modules through Pathway 1. 

Once the CIA modules and exams are available, candidates who choose to complete their FCIA qualification through Pathway 1 will have to take FCIA modules and/or exams to meet outstanding requirements. The following tables summarize the equivalencies for specific Fellow-level activities: 

Table 1. CIA individual life and annuities (ILA) track

Credit for:   Achieved with SOA
 F1ILA  ILAILFMC + ILA Module + Reg Module
 F2ILA  ILALPM + ILAALM + ILA Module + Reg Module
 F3ILA  ILALPM + ILAALM (or ILAERM) + ERM Module
 Module 1  ILAALM + ILA Module
 Module 2  No credit, must be completed

Table 2. CIA retirement benefits (RET) track

Credit for:  Achieved with SOA 
 F1RET  RETFRC
 F1RET and F2RET  RETFRC + RETDAC
 F3RET  RETIRM + ERM Module, or ERM RET exam + ERM Module
 Module 1  Social Insurance Module + Pension Projection Module
 Module 2  No credit, must be completed


Table 3. CIA group benefits (GB) track

Credit for:    Achieved with SOA 
 F1GB  DP + Health Economics Module
 F2GB  DP + SPC + Health Foundation Module
 F3GB  FVC + Pricing, Forecasting and Reserving Module
 Module 1  SPC + Health Foundation Module
 Module 2  No credit, must be completed

Table 4. CIA finance, investments, and ERM (FIE) track

a. SOA quantitative finance and investments (QFI) track

Credit for:   Achieved with SOA 
 F1FIE  QFIQF + FM Module
 F2FIE  QFIPM + QFIIRM + SM Module
 F3FIE  QFIIRM + ERM Module, or ERMGC + ERM Module
 Module 1  FM Module + SM Module
 Module 2  No credit, must be completed

b. SOA corporate finance and enterprise risk management (CFE) track

Credit for:  Achieved with SOA 
 F1FIE  No credit available
 F2FIE  No credit available
 F3FIE  CFEFD+ ERM Module, or ERMGC + ERM Module
 Module 1  No credit available
 Module 2  No credit available


Table 5. CIA property and casualty (P&C) track

Credit for:  Achieved with CAS 
 F1PC  Exam 5 + Exam 8
 F2PC  Exam 5 + Exam 7 + Exam 6C
 F3PC  Exam 7 + Exam 6C + Exam 9 + CAS Online Course 1
 Module 1 + Module 2  Online Courses 1 and 2

Additional remarks relative to the P&C track:

  1. To receive credit for both FCIA modules, a candidate would be required to have CAS Online Course 1 and 2. Each online course individually would not give credit for any of the FCIA modules.
  2. The CIA does not recognize individual SOA GI-track exams and modules. Candidates pursuing the SOA GI track have the possibility of qualifying for FCIA through Pathway 3.
FCIA Module 2 requirement for P3-A

Pathway 3 candidates pursuing the experience route (P3-A) must meet the FCIA Module 2 requirement for applications received beginning August 16, 2024 (tentative date).

FCIA exam requirement for P3-B

Pathway 3 candidates pursuing the fast-track route (P3-B) must successfully complete the required CIA Fellowship exam, for applications received beginning November 16, 2024 (tentative date). 
Canadian-specific exams from recognized actuarial organizations will be accepted to meet the P3-B requirement for applications received by November 15, 2024 (tentative date).
 

CIA Professionalism Workshop (PW) and Practice Education Course (PEC) transition rules

Pathway 1 and 2 candidates for ACIA must meet the CIA PW requirement, and all FCIA candidates must meet the CIA PEC requirement. The following transition rules are applicable to Casualty Actuarial Society (CAS) candidates:

1. The CAS Course on Professionalism (COP) completed in Canada by December 31, 2018, will provide credit for the CIA PW and the CIA PEC until December 31, 2023. To obtain credit, candidates must submit their FCIA application no later than October 15, 2023. Once approved by the Education and Qualification Council (EQC), candidates will have an FCIA effective date of December 1, 2023.

2. The CAS COP completed in the United States by December 31, 2019, and the CIA PW completed by December 31, 2019, will provide credit for the CIA PEC until December 31, 2024. To obtain credit, candidates must submit their FCIA application no later than October 15, 2024. Once approved by the EQC, candidates will have an FCIA effective date of December 1, 2024. No recognition for the U.S. CAS COP will be granted for courses completed after January 1, 2020.