Peculiar features of attaining the CERA designation in Canada
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Date
2018
Journal Title
Journal ISSN
Volume Title
Publisher
Хмельницький національний університет
Abstract
The article sets out peculiar features of attaining the CERA credential from the
Canadian Institute of Actuaries. The analysis results show that there are scores of ways
available to candidates perusing the aim of becoming a CERA. There have been singled out
the main models following which it is possible to get the designation which is administered
by the following professional bodies: the pathways proposed by the Institute and Faculty of
Actuaries, the German Society of Actuaries and European Actuarial Academy, the Netherlands
and France exam systems, and finally the examinations and modules offered by the SOA.
Since there are no examinations and modules leading to the designation administered solely
by the CIA, the research is basically focused on the analysis of the standards laid down by
the CAS and SOA which are the Institute’s closest partners offering the requirements
completion of which results in attaining not just the CERA, but also the ACIA and FCIA
credentials. Having analyzed the SOA’s CERA examination systems, we have figured out
that for candidates willing to become CERAs there are only two ERM specific activities: the
ERM exam and module. We may conclude that there is a considerable overlap between the
two, only the exam section dedicated to extensions being different. The CAS system is
organized on the basis of cooperation with the Institute and Faculty of Actuaries meaning
that on the pathway to the designation awarded by the CAS candidates have to complete the
Risk Management Specialist Technical Exam which is commonly abbreviated to ST-9. The
second ERM specific requirement is the completion of the Enterprise Risk Management and
Modeling Seminar. A two-fold nature of the CERA requirements in the CAS case is utilized
to a more efficient extent as it adds an interactive component and an opportunity to
exchange experience with the actuarial practitioners working in the field of ERM.
Description
Keywords
CERA, actuary, Canada, CIA, SOA, CAS, ERM exam and module, ST-9 exam, Enterprise Risk Management and Modeling Seminar
Citation
Fursenko T. Peculiar features of attaining the CERA designation in Canada / Tetiana Fursenko // Порівняльна професійна педагогіка : наук. журн. / Нац. акад. пед. наук України, Ін-т пед. освіти і освіти дорослих, Хмельниц. нац. ун-т, Центр порівняльної проф. пед. ; [редкол.: Бідюк Н. М. (голов. ред.) та ін.]. – Київ ; Хмельницький, 2018. – Вип. 8, ч. 1. – С. 69–74. – До 75-річчя Івана Андрійовича Зязюна.