International Exam Equivalencies: SOA and CAS
How actuarial exams from international organizations are recognized by the SOA and CAS through mutual recognition agreements.
Mutual Recognition Agreements
The SOA and CAS have mutual recognition agreements (MRAs) with several international actuarial organizations. These agreements allow actuaries credentialed in one country to receive partial or full credit toward credentials in another. The most comprehensive MRAs exist between the SOA/CAS and the Institute and Faculty of Actuaries (IFoA, UK), the Canadian Institute of Actuaries (CIA), and the Institute of Actuaries of Australia (IAA). Specific exam-by-exam mappings vary by agreement and are updated periodically as exam curricula change.
Practical Implications
For candidates with international credentials seeking U.S. recognition, MRAs can significantly reduce the number of additional exams required. However, mutual recognition typically applies at the credential level (associate or fellow) rather than individual exam level. Candidates may still need to pass exams covering country-specific material such as local insurance regulation, tax law, and accounting standards. Actuaries planning international careers should review current MRA details on the SOA and CAS websites, as the specifics change over time. Exam credit from international bodies must be formally applied for and is not automatic.