U.S. Qualification Standards are set by The American Academy of Actuaries and applies to members of the five U.S.-based associations. The standards outline education and experience required to practice. They were recently updated to include requirements for "models" and "bias".
Guidelines & Requirements
These guidelines and requirements include the Code of Conduct, Standards of Practice, Joint Board Requirement, International ISAPs and CCA supplements.
- Code of Conduct
- Actuarial Standards of Practice: Applicability Guidelines and full list
- Joint Board requirements (see Subparts C & D)
- International ISAPs (only model standards and not binding)
- CCA supplements (CCA member-only; login required):
Actuarial Board for Counseling and Discipline (ABCD)
The ABCD exists to strengthen the adherence by members of the five U.S.-based actuarial organizations to the recognized standards of ethical and professional conduct.
Cross-Border Discipline Agreement
Learn more about how the Canadian Institute of Actuaries, the Mexico-based organizations, and the U.S.-based organizations agree to reduce the risk that their members will be subjected to multiple disciplinary investigations when practicing across borders.
Standards for Enrolled Actuaries
An Enrolled Actuary is any individual who has satisfied the standards and qualifications as set forth in the regulations PDF of the Joint Board for the Enrollment of Actuaries and who has been approved by the Joint Board to perform actuarial services required under the Employee Retirement Income Security Act of 1974 (ERISA).
Enrolled Actuaries are subject to the Joint Board Regulations and Treasury Department Circular Number 230.
The CCA is a Qualifying Sponsor of EA Credit.
All CCA members are subject to the Code of Professional Conduct. As stated in the Code, Annotation 2-1: "It is the professional responsibility of an Actuary to observe applicable qualification standards that have been promulgated by a Recognized Actuarial Organization for the jurisdictions in which the Actuary renders Actuarial Services and to keep current regarding changes in these standards."
As stated in the Code, Precept 13: "An Actuary with knowledge of an apparent, unresolved, material violation of the Code by another Actuary should consider discussing the situation with the other Actuary and attempt to resolve the apparent violation. If such discussion is not attempted or is not successful, the Actuary shall disclose such violation to the appropriate counseling and discipline body of the profession, except where the disclosure would be contrary to Law or would divulge Confidential Information."