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Certified Actuarial Analyst (CAA) qualification transitional arrangements FAQs

Certified Actuarial Analyst (CAA) qualification transitional arrangements

 

Following the decision to close the CAA qualification to new candidates as of October 2021, transitional arrangements have been put into place to ensure existing CAA candidates continue to receive the support they need to successfully complete their qualification journey.

We explain the transitional arrangements for CAA candidates in the FAQ below.

Existing candidates

If you are already studying for the CAA qualification, the FAQ explain how the transitional arrangements will affect applying for exemptions, sitting CAA exams and qualifying as a CAA.

CAA Transitional Arrangements FAQs

These FAQs refer to the transitional arrangements that will be in place for all new and existing CAA candidates from our October 2021 examination sitting onwards.

Why is the CAA qualification closing to new entrants?

As the actuarial employment landscape changes, the shareholders of CAA Global, the IFoA and the SOA are looking to evolve their qualification offerings to support early career students to progress along the actuarial qualification pathway.

 

CAA Global is focussed on ensuring existing CAA candidates continue to receive the support they need to successfully complete their CAA qualification journey.

 

Exemptions

Are you still accepting applications for CAA module exemptions?

We are no longer accepting applications for CAA module exemptions.

 

Exams

I would like to complete my CAA qualification, how will the transitional arrangements impact on my qualification journey?

We want to make sure our existing candidates receive all the necessary support and resources they need to continue their CAA qualification journey. We will continue to provide our existing candidates with CAA’s full range of exam support and resources while you complete your qualification.

You will have five exam sittings - including the October 2021 sitting - to complete your Module 1-5 exams. 

Can I sit more than one Module exam in an exam sitting?

Yes. You can sit as many CAA Module exams as you like in any exam sitting.

Do I still need to complete Modules 1-4 before sitting Module 5?

No. You can now take the Module exams in any order.

Will I sit my CAA exams in exam centres or online?

You will be expected to sit your CAA exams in Pearson VUE exam centres.

However, if you have booked in to a Pearson VUE exam center, and the exam center closes due to local COVID restrictions, Pearson VUE will contact you to inform you of the cancellation. Pearson VUE will also contact the CAA Global team, who will then contact you to give you the opportunity to sit your exams online.

If you are unable to book your exam at a Pearson VUE exam center because they have reduced capacity due to COVID restrictions and you cannot book your exam at an alternative Person VUE center or on an alternative date, please contact the CAA Global team who will arrange for you to sit your exam online.

 

How to Qualify  

How long will I have to complete Modules 1-5?

We will be running five exam sittings, including the October 2021 sitting, for candidates to complete the Module 1-5 exams.

Will I still need to complete a learning log to qualify as a CAA?

Yes. You will need to complete a learning log and submit your final sign off form before you can qualify as a CAA. The final deadline for submitting your final sign off form will be six months after results from the final CAA Module exam sitting are published.

Will I still need to pass OPAT before I can qualify as a CAA?

Yes. You will still need to pass the Online Professionalism Awareness Test (OPAT) before you qualify as a CAA. The final deadline for submitting your final sign off form will be six months after results from the final CAA Module exam sitting are published.

What happens if I aim to complete the qualification within the transition period but I do not succeed?

We have planned the transition period to give candidates enough time and flexibility to complete their CAA qualification. 

 

After you qualify

Will I still be able to use the CAA designation once I qualify?

Yes. Once you qualify as a CAA you will still be entitled to use the CAA designation after your name.

Using the CAA designation will ensure your financial business, analytical, modelling and communication skills are formally recognised by a range of employers.

Will I still be able to join the IFoA or SOA Centre once I qualify?

Yes. Once you qualify as a CAA, you can still opt to join either the Institute and Faculty of Actuaries (IFoA) or the SOA Center (a subsidiary of the Society of Actuaries), ensuring you will be formally recognised as a member of a well-respected, globally recognised actuarial association. You will have six months from the final CAA Module exam sitting to apply for membership of either the IFoA or the SOA Center.

Through the IFoA or the SOA Center, you will continue to have access to networking, events, resources, and continuing educational opportunities.

You should apply for membership of the IFoA or SOA Center as soon as you have successfully qualified as a CAA.

 

Help and support

If you have any questions about registering for the CAA qualification, completing your qualification, or what happens after you qualify please contact CAA Global enquiries, who will be happy to help.