Membership & Education

Eligibility Requirements – PEC 2020


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:

PEC track

Exam credit

ERM ERM (GC or other extension)
FIN QFIQF or QFIPM
GB GHFVCC and
i. GHDPC, or
ii. GHFVA

CIA GB Exam also required if credit for GHFVCC was achieved with GHCORC passed before September 2017.
ILA ILALMC
P&C CAS 6C
RET RETFRC

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.

PEC track

Exam credit

ERM ERM (GC or other extension)
FIN QFIQF or QFIPM
GB GHFVCC and
i. GHDPC, or
ii. GHFVA

CIA GB Exam also required if credit for GHFVCC was achieved with GHCORC passed before September 2017.
ILA ILALMC
P&C CAS 6C
RET RETFRC

 

* 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 certifying Fellow must have had their designation for the entire work experience period. The minimum working experience requirement must be met at the time of application for PEC.

** The experience must be relevant to the chosen PEC track and must be detailed using the relevant CIA form, certified by an FCIA. The certifying Fellow must have had their designation for the entire work experience period. The minimum working experience requirement must be met at the time of application for PEC.

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 Benefits Examination (GBE) in addition to SOA Exam GHFVC, if credit for GHFVC was obtained with credit for GHCORC achieved prior to Fall 2017. Candidates who received credit for GHFVC with GHCORC completed in fall 2017 and beyond are not required to take the CIA exam.
  2. The CIA Group Benefits Exam will be offered for the last time in February 2021. The following transition rule will apply for FCIA qualification:
    1. GHCORC (or equivalent) passed prior to Sept. 1, 2017, and the GBE, provided all FCIA-level education (including PEC) is completed by July 30, 2023; or
    2. GHCORC passed between Fall 2017 and Spring 2019, provided all FCIA-level education (including PEC) is completed by July 30, 2023; or
    3. Credit for GHCORC (or equivalent) and the GBE under a. or b. above will be recognized in lieu of the complete SOA FV exam, provided all FCIA-level education (including PEC) is completed by July 30, 2023.

PEC Property & Casualty (P&C) Track

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

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

Starting in 2019, the CAS accepts 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 was the last offering of the Canadian version of COP that the CIA will recognize and was the last offered by the CAS.

The Education and Qualification Council (EQC) (formerly the Eligibility and Education Council) 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 andprofessional development.