Membership & Education
 

UAP Credits: Transition Rules

The CIA’s primary concern when granting credits to a student is to ensure that he or she took the combination of courses that will provide them with at least 85 percent of the corresponding syllabus content and that the course examinations tested the material. 

As syllabus changes occur from year to year, and as universities update their courses, tracking student credits over time will require great care. The following transition rules are to be applied to the greatest extent possible, while maintaining the first principle of ensuring the student covered the material and was adequately examined on it. 

No single solution will address every student/university scenario, but these rules provide a basis for evaluating requests, which will be handled on an individual basis. Therefore, it is necessary to also consider the particular changes that have been made year by year in each university. 

Transition rules applied by other actuarial organizations should also be considered and are documented by year in this document for tracking purposes.

Transition Rules 

1. The timing of the completion of the last course will determine the requirement to be met.

The credit requirements are dictated by the syllabus mapping and associated course coverage at the time the last course mapped to a particular exam is completed.

      • The most current requirements will always apply. 
      • There is no need to monitor courses that are no longer part of the mapping. 

      Considerations:
      • This option may result in a student having to retake a course that has changed from one year to the next. 

2. A sunset clause of three years from the time of completion of the last course will be applied. This means that students must apply for the associated exam credit within three years of the date of completion of the last course.

3. Transition rules of other actuarial organizations should be applied where possible as long as they do not conflict with the CIA’s primary goal of ensuring adequate syllabus coverage. 

General Rules

1. The CIA will attempt to maintain a stable University Accreditation Program (UAP) syllabus for as long as possible. Syllabus updates will be performed every two years except under special circumstances. Special circumstances will be evaluated by the Accreditation Committee, which will seek input from universities on the impact of the change.

2. Universities will make every reasonable effort to offer all classes mapped to a particular exam syllabus in a given year so as not to disadvantage students should changes to the syllabus occur.

3. Universities are encouraged to minimize course/syllabus mapping changes to the extent possible and will attempt to coordinate such changes with the CIA syllabus update cycle.

Example:

At Waterloo, Exam MFE was mapped in 2013–2014 using two courses (Old 445 and Old 446). In 2014–2015, MFE is mapped with only one revised course (New 446). Content from Old 445 is included in New 446. Therefore, Old 445 is no longer part of the UAP and is dropped from the mapping. 

Consider a student who took Old 446 before September 2014 but plans on completing Old 445 in the following year. 

Using Transition Rule 1, New 446 is required. The student needs to retake 446, because it has changed, in order to qualify for the credit.

Special Transition Rules

2013–2014

1. During the 2013–2014 academic year, the Casualty Actuarial Society (CAS) Exam 3L became two new exams, LC and ST. The CIA decided not to include ST in its new mapping (for 2014–2015) due to many university courses being offered outside actuarial science departments. The UAP followed the syllabus for 3L to August 31, 2014. 

Therefore:

a. If a student received credit for Exam 3L or Society of Actuaries Exam MLC prior to January 2014, they will receive credit for LC and ST. In the CAS system, UAP candidates who completed 3L before January 2014 are automatically considered to have both LC and ST. 

b. The CAS will extend the credit for both 3L and MLC and provide credits for both LC and ST until August 2014.

2014–2015
 

2015–2016

Laval University – Exam C

For candidates who completed ACT 3000 before September 1, 2015: 
• ACT 2005, ACT 2008, and ACT 3000 (namely the requirement in force during academic years 2012–2013, 2013–2014, and 2014–2015).

For candidates attending ACT 3000 as of September 2015:
• ACT 2005, ACT 2008, with ACT 2001 completed as of Winter 2014 or thereafter; or
• ACT 2005, ACT 2008, with ACT 2001 completed during Fall 2015 only.  

The CAS has also granted credits for Exam LC to candidates who have received a credit granted by the CIA UAP. For those candidates who have credit for Exam ST by August 31, 2015, the CAS will continue to grant Exam LC credits through August 31, 2016.

2016–2017

Simon Fraser University – Exam FM

Please note that the BUS 316 and BUS 419 combination is valid only if BUS 419 is completed after September 1, 2016. A combination using BUS 316 and BUS 419 completed prior to September 1, 2016 would need to be complemented with ACMA 335 completed before September 1, 2016.

Simon Fraser University – Exam C

The following transition and recognition rules for exam C will be applicable. For ease of reference, please note that “Old” means that a course was completed before or on August 30, 2016 and that “New” refers to a course completed after August 30, 2016.

• New 395 (LM) + Old 315 + Old 335;
• New 395 (LM) + Old 315 + Old 445;
• New 455 + Old 315 + Old 445;
• New 455 + Old 335 + Old 445; and
• New 455 + Old 445.

UQAM – Exam FM

• ACT2025 (prior program) becomes ACT1200 (new program). Both courses have exactly the same syllabus.
• ACT 1200 is available as of Fall 2016 only.
• ACT2025 (completed before September 1, 2016) or ACT1200 and ACT3122 if completed after September 1, 2016. If ACT 3122 is completed before August 30, 2016, ACT 2320 completed before August 30, 2016 must be added.



August 2016