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Actuaries earn professional designations based on the organization they belong to and their status in the professional exam system.
When an actuary has met certain professional educational standards by passing a series of exams and other requirements, he or she achieves the designation of Associate. Actuaries who specialize in property and casualty practice receive the ACAS designation. It stands for Associate of the Casualty Actuarial Society. Actuaries who practice in life, health, finance, investments or pensions receive the Associate of the Society of Actuaries, or ASA, designation. 
After achieving the Associate designation, the actuary can elect to continue to take exams to achieve the highest designation, Fellow. Casualty actuaries are Fellows of the Casualty Actuarial Society or FCAS. Fellow of the Society of Actuaries, or FSA, is the designation achieved by life, health, pension, finance and investment actuaries.
Below are the different actuarial designations and organizations that grant them. Check out the actuarial alphabet.

What is the difference between being an Associate and Fellow? Details below.

CAS
Casualty Actuary Society

ACAS- Associate of the Casualty Actuary Society

FCAS- Fellow of the Casualty Actuary Society

CIA
Canadian Institue of Actuaries

ACIA- Associate of the Canadian Institute of Actuaries

FCIA- Fellow of the Canadian Institute of Actuaries

Note: The Canadian Institute of Actuaries recognizes exams administered by the Society of Actuaries as a part of their accreditation process.

SOA
Society of Actuaries

ASA- Associate of the Society of Actuaries

FSA- Fellow of the Soceity of Actuaries

CERA
Chartered Enterprise Risk Analyst