Diversity Exam Reimbursement Program

Applications Are No Longer Accepted for the Diversity Exam Reimbursement Program

The Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS) announce a new jointly-sponsored exam reimbursement program. The new Actuarial Exam Support Program, based on qualifications of need, is available to candidates as of May 1, 2024. 

The program is an expanded version of the current in-force Needs-Based Exam Reimbursement program and aims to extend support to a broader range of candidates, ensuring equitable access to actuarial education and opportunities.  This change reflects a commitment to inclusivity, expands eligibility criteria to address various forms of need, including provisions for students and career-changers. Additionally, the program considers exam scores of four and above, broadening the scope of support of the prior Needs-Based program.  Candidates can still apply for reimbursement to the current Needs-Based Exam Reimbursement Program through the end of April.  

The SOA and CAS recognize that every candidate’s journey is unique and are committed to helping candidates overcome financial obstacles that create barriers of entry to the actuarial profession. For more information on the new program, eligibility criteria, and application details, please visit BeAnActuary.org starting May 1.

Welcome to the Diversity Exam Reimbursement Program, offered jointly by the Society of Actuaries and the Casualty Actuarial Society. Our program aims to attract, encourage, and provide support for aspiring actuaries from underrepresented communities, ensuring equal opportunities and fostering a sense of belonging.

This program is specifically designed to assist individuals currently residing in the United States or Canada, who identify as African American/Black, Hispanic/Latinx, and Native North Americans or Indigenous. These groups combined account for less than 5% of actuaries in the United States and Canada. We also extend our assistance to asylum seekers and university students on an educational visa residing in Canada or the United States who belong to the groups mentioned above. By fostering equal opportunities, our aim is to create a more inclusive and diverse actuarial profession that is equipped to serve the diverse communities in which we work and live.

Please note that this reimbursement program is not intended for individuals already employed full-time in an actuarial position. Our focus is on supporting those who are on their pathway to becoming future actuaries.

Exam Eligibility: To be eligible for reimbursement, you must have registered for, completed, and scored a 4 or higher on one of the following exams:

Society of Actuaries (SOA):

  • Exam P/1
  • Exam FM/2
  • Exam IFM (Reimbursement available until October 2023)
  • Exam LTAM (Long Term Actuarial Mathematics)
  • Exam FAM (Fundamentals of Actuarial Mathematics)
  • Exam FAML
  • Exam FAMS
  • Exam ALTAM
  • Exam ASTAM

Casualty Actuarial Society (CAS)*:

  • CAS Exam 5
  • CAS Exam 6
  • CAS Data & Insurance Series Courses (CAS DISCs)**

The CAS will reimburse up to two Pre-ACAS requirements.

**The CAS will only reimburse passing scores for the basic online course package at the 50% student discounted rate.

Reimbursement Criteria:

  • This program is specifically intended for individuals who identify as American/Black, Hispanic/Latinx, Native American and/or Indigenous People currently living in the U.S or Canada. If you do not belong to any of these groups, we request that you refrain from submitting this form, as you do not meet the eligibility criteria.

For other potential avenues to qualify for aid, we encourage you to explore our BeAnActuary Needs-Based Program.

  • If your score is 4 or above:
    • The exam fee will be reimbursed once you receive your official score report.
  • You can receive up to two reimbursements per exam:
    • One for a score of 4 or 5.*
    • One for a passing grade.
  • You will also qualify for a $175 stipend for study materials.

*Excluding CAS DISCs

Requesting Reimbursement:

Processing and Confirmation: Reimbursement requests are processed on a monthly basis. Once your request has been approved, you will receive an email confirmation.

Additional Information: We want to ensure that you have all the necessary information to make the most of this program. Here are a few key details to keep in mind:

  • Timeframe: You have up to 12 months from the date of your official qualifying score from the SOA/CAS to request the exam fee reimbursement.
  • 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. Exams taken outside the U.S. or Canada do not qualify for reimbursement.
  • Program Integrity: 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.

FAQ and Contact Information: For answers to frequently asked questions or for further assistance, please visit our FAQ section on the Diversity Exam Reimbursement Program 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