Examinations
The CAS requires all candidates to qualify through a series of rigorous actuarial exams covering all aspects of actuarial practice. Passing the first seven components, the Course on Professionalism, the Validation by Educational Experience (VEE), and two online courses qualifies an actuary for the Associateship designation; passing three additional exams is required to become a Fellow. The exam process usually takes a long time to complete, often near a decade, due to the low pass ratios and the difficulty of the syllabus material.
A number of the earlier exams are conducted jointly with the Society of Actuaries (SOA), and a relatively few actuaries have qualified as members of both the CAS and the SOA.
The subject matter covered on each of the VEE and nine other CAS components is as follows:
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