Monday, November 21, 2011

Validation By Educational Experience

I've has a number of inquiries about VEE this month so I thought I'd step through some FAQs both in general and with respect to UofR Courses.  

  • What is VEE?
    • These are topics that the Society of Actuaries wants you to know about, but that the SOA doesn't want to test you on directly.  There are 3 topics - Applied Statistics, Economics and Corporate Finance.
  • How do I get VEE credits?  
    • The simplest way is to take the right UofR courses and get a minimum mark of 70% in each of them.  Most of these are courses that you need for your degree anyway.  Based on the current calendar the courses you need are as follows
      • For Applied Statistics either
        • a 70% in BOTH STAT 354 and STAT 471; OR
        • a 70% in ACSC 418
      • For Economics
        • a 70% in BOTH ECON 201 and ECON 202
      • For Corporate Finance
      • a 70% in BOTH BUS 285 and BUS 395
  • What if I didn't take the right courses?  There are a number of alternate ways of getting VEE credit listed on the SOA web-site.  These are often examinations set by other bodies or on-line coruses aimed directly at meeting VEE criteria.
  • When do I need to Apply for VEE with the SOA/CIA?  When you apply for an actuarial designation (ASA, ACIA or CERA) you need to show that you've met all of the criteria - which includes SOA exams, FAP modules and VEE credits.  You can simply supply a copy of your UofR Transcript to show that you've met VEE requirements (or similar transcripts where applicable).

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