The Actuarial Exam Support Program is a pilot program administered jointly by the Casualty Actuarial Society and Society of Actuaries to provide assistance to actuarial exam candidates who are most in need of support paying for exam registration fees and study materials, aiding and encouraging them in their actuarial journey.
This reimbursement program is currently limited to students living in the United States or Canada, including asylum seekers and university students on an educational visa in the United States and Canda. This program is not designed for individuals employed full-time in an actuarial position.
Beginning May 1, 2024, for exams taken January 1, 2024 or later:
The Actuarial Exam Support Program will cover reimbursement for up to four preliminary actuarial exams, as outlined below, and candidates may request a study material stipend for use on their next exam with application for reimbursement.
| Exams Covered | Scores Eligible for Reimbursement | |
|---|---|---|
| CAS Exam 1 / SOA Exam P | Up to two reimbursements per exam:
| |
| CAS Exam 2 / SOA Exam FM | ||
| In addition to the two exams above, candidates can request reimbursement for up to two of the following exams. | ||
| SOA | FAM | Up to two reimbursements per exam:
|
| FAML | ||
| FAMS | ||
| ALTAM | ||
| ASTAM | ||
| CAS | MAS-I | |
| MAS-II | ||
| Exam 5 | ||
| Exam 6 | ||
| DISC DA | Up to one reimbursement per DISC Online Course for Passing Scores only, at the 50% discounted rate. | |
| DISC RM | ||
| DISC IA | ||
Candidates who have taken the exams listed above and received an eligible score may seek reimbursement if they are not currently employed full-time in an actuarial position and are currently living in the United States or Canada, including asylum seekers or university students on an educational visa, and they meet any one of the following eligibility criteria:
| Candidates Currently Considered a “Student” | Candidates Not Currently Considered a “Student” | |
| Recipient of a Pell Grant. | Qualified for a federal or state Student Loan Forgiveness | |
| Family/Household income level below living wage requirement by location and number of family members per household, as shown in the MIT Living Wage Calculator. | Income level below living wage requirement by location and number of family members per household, as shown in the MIT Living Wage Calculator. | |
| Family/Household qualifies for SNAP or other state food assistance programs. | Qualifies for SNAP or other state food assistance programs. | |
| Participating in university TRIO program. | Received unemployment benefits in the last 12 months. | |
| Participating in university work-study program. | Received a grant through the Workforce Innovation and Opportunity Act (WIOA) Workforce Programs in the last 12 months . | |
| First generation in family* to enroll in Two-Year or Four-Year college or university. | First generation in family* to graduate from Two-Year or Four-Year college or university. | |
| Attending college or university on the United States GI Bill. | Military veteran. | |
| Speak English as a second language, except for those of French Canadian origin. | Speak English as a second language, except for those of French Canadian origin. | |
| Attending a two-year college (community college). | ||
| Working 35 hours/week or more in addition to school. | ||
| Other circumstances or barriers including those beyond financial need. Please provide a brief description; subject to review and approval. (Examples for reference include: single parents, circumstances interrupting pursuit of education, neurodiverse diagnosis.) | ||
Requesting Reimbursement
Complete the electronic reimbursement form after receiving your official score. Applications must be submitted within 12 months of the date of receiving the official qualifying score from the SOA or CAS.
Eligibility Restrictions
This program provides reimbursement exclusively for individuals who have not received reimbursement from any other sources, including their school, employer, or other actuarial organizations. This reimbursement program is not designed for individuals employed full-time in an actuarial position. Exams must be taken within the U.S or Canada.
Program Integrity
Candidates are required to acknowledge the Code of Conduct for Candidates and Code of Professional Ethics for Candidates as part of the application. To maintain the integrity and accuracy of the reimbursement process, periodic audits may be conducted. Please be assured that all information provided during the reimbursement process will be handled with the utmost confidentiality.
Processing and Confirmation
Reimbursement requests are processed on a monthly basis. Once your request has been approved, you will receive an email confirmation.
Up to 35 exam reimbursements and 25 study material stipends will be disbursed per month on a first-come, first-served basis. Any applications received after the monthly cap has been reached will be rolled over to receive a stipend the following month in the order the application was received. If the monthly cap is not reached in a given month, the remaining reimbursements will be added to the pool of reimbursements for the following month.
The number of monthly reimbursements will be closely monitored and the cap will be reconsidered along with other program updates as described below.
Other Information
The CAS and SOA will formally review this program initially on an annual basis for at least two years and at least every 3 years thereafter to evaluate program performance and potential changes to eligibility criteria or program benefits.
FAQ and Contact Information
For answers to frequently asked questions or for further assistance, please visit our Actuarial Exam Support Program FAQ’s webpage. If you have any additional inquiries, please do not hesitate to contact us:
Lucrecia Graciano
Society of Actuaries
8770 W Bryn Mawr Ave, Suite 1000
Chicago, IL 60631
Phone: 847-706-3665
Email: Inclusion@soa.org
Margaret Gaddy
Casualty Actuarial Society
4350 North Fairfax Drive, Suite 250
Arlington, VA 22203
Phone: 703-276-3100
Email: mgaddy@casact.org