Membership requirements

The requirements for admission to membership in the Academy are set forth in Article I of the Bylaws and in these procedures.

Education Requirements


The Academy Board of Directors, in accordance with Article I, Section 2(B) of the Bylaws, prescribes the following educational requirements for prospective members. An applicant who has attained the indicated status in one of the organizations listed below shall be deemed to have met the education requirements for admission to membership:

  1. Associateship in the Casualty Actuarial Society;
  2. Associateship in the Society of Actuaries;
  3. M.S.P.A. or F.S.P.A. in the American Society of Pension Professionals and Actuaries;
  4. Membership in the Conference of Consulting Actuaries;
  5. Enrolled Actuary status under Title III, Section C of the Employee Retirement Income Security Act of 1974;
  6. Fellowship in the Canadian Institute of Actuaries;
  7. Fellowship in the Institute and Faculty of Actuaries;
  8. Membership in the Colegio Nacional de Actuarios in Mexico;
  9. Fellowship in the Institute of Actuaries of Australia.

An applicant who has attained actuarial educational credentials other than those enumerated above may submit those credentials to the Academy for review and approval by the Membership Committee and the Executive Committee.

Good Moral Character and Professional Integrity

  1. Applicants to the Academy must be of good moral character and have professional integrity. Evidence of the lack of good moral character or professional integrity shall be grounds for rejection of an application to membership in the Academy.
  2. In those cases where good moral character and professional integrity cannot be assumed, the Membership Committee and Executive Committee are empowered to call for evidence of such good moral character and professional integrity.

Additional Requirements for Nonresidents and New Residents

  1. Nonresidents
    • Nonresidents must certify their familiarity with U.S. laws and practices in their “actuarial practice area” which is intended to mean casualty, health, life, and pension.
    • In those cases where familiarity with actuarial practices and principles in the United States cannot be assumed, the Membership Committee and Executive Committee are empowered to call for evidence of such familiarity.
    • Nonresidents must state their need for membership in the Academy.
  2. New Residents
    • Residents of the United States for fewer than three years must satisfy the requirements to which nonresidents are subject.

Certification


Applicants must certify their willingness to comply with the Code of Professional Conduct of the American Academy of Actuaries, the Actuarial Standards of Practice promulgated by the Actuarial Standards Board, and the Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States promulgated by the Academy through its Committee on Qualifications. Failure or refusal to provide such a certification is grounds for denial of a membership application.

Application Process

  1. An application should be submitted on an application form that has been developed and approved by the Membership Committee. An approved application form may be obtained from the Washington office or the Academy website (www.actuary.org).
  2. Applications should be typewritten or handwritten legibly.
  3. An application fee of $75 must accompany the application. This is a charge for processing the application and will not be applied toward the payment of dues for applicants who are accepted. Application fees paid by applicants who are not accepted will not be refunded.
  4. Applications should be addressed to: Membership Department, American Academy of Actuaries, 1850 M St., N.W., Suite 300, Washington, D.C. 20036, (202) 872-1948 (fax).

Appeal of Rejection of Application

  1. Applications are reviewed by the Membership Committee of the Academy and approved by the Executive Committee pursuant to recommendation from the Membership Committee. An applicant shall be advised of any rejection of an application, and said rejection shall be accompanied by a statement of the reason(s) for the rejection.
  2. An applicant may appeal any rejection of an application for membership for any reason to the Board of Directors.
    1. An appeal of the rejection of an application should be submitted in writing and should specifically state the reason(s) why the determination of the Executive Committee not to grant the application should not be followed. Any evidence that the applicant wishes to submit in support of the appeal should be submitted concurrent with the appeal. Appeals should be postmarked by no later than 60 days after the date of the letter notifying the applicant of the rejection of the membership application.
    2. The Board of Directors will consider the appeal at its next regularly scheduled meeting.
    3. A decision of the board with respect to an appeal will be furnished to the applicant in writing with a statement of the board’s reason(s) for accepting or rejecting the application.
    4. Any decision of the Board of Directors with respect to an appeal of the rejection of an application will be final and not subject to further appeal.
    5. If a rejected applicant’s circumstances change such that the board’s reason(s) for rejecting the application are no longer pertinent, the applicant may submit a new application for membership.

Inquiries


Inquiries with respect to the application process or the status of pending applications should be addressed to: Membership Department, American Academy of Actuaries, 1850 M Street, N.W., Suite 300, Washington, D.C. 20036.

Prescribed Examinations


The Academy Board of Directors, in accordance with Article I, Section 2B of the Bylaws, prescribes examinations as follows:

A candidate who has attained by examination the indicated status listed below shall be deemed to have met the education requirements for admission to membership:

  1. Associateship in the Casualty Actuarial Society and the Society of Actuaries.
  2. M.S.P.A. or F.S.P.A. in the American Society of Pension Professionals and Actuaries.
  3. Membership in the Conference of Consulting Actuaries.
  4. Fellowship in the Canadian Institute of Actuaries, the Institute and Faculty of Actuaries, and the Institute of Actuaries of Australia.
  5. Enrolled Actuary status under Subtitle C of Title III of the Employee Retirement Income Security Act of 1974
  6. Membership in the Colegio Nacional de Actuarios.
    In those cases where familiarity with actuarial practices and principles in the United States cannot be assumed, the Executive Committee is empowered to call for evidence of such familiarity.