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.
Casualty Actuary Society
ACAS- Associate of the Casualty Actuary Society
FCAS- Fellow of the Casualty Actuary Society
Canadian Institute 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.
Society of Actuaries
ASA- Associate of the Society of Actuaries
FSA- Fellow of the Soceity of Actuaries