The VEE (Validation by Educational Experience) requirement is jointly sponsored by the Society of Actuaries (SOA), Casualty Actuarial Society (CAS) and Canadian Institute of Actuaries (CIA) and are part of the requirements to become an Associate. There are currently three VEE topics, but keep in mind that the SOA VEE requirements will be changing in 2018, and the CAS VEE requirements changed with the addition of exam S in 2015-2016. We’ll discuss more below.The current VEE topics are:
- Corporate Finance
- Applied Statistical Methods
The VEE topics are not prerequisites for the preliminary exams (Exams P, FM, MLC, MFE and C) and may be fulfilled independently of the exam process. However, you must pass two SOA or CAS actuarial exams before applying to the SOA to have your VEE credit added to your record. The SOA has a detailed help section on VEE frequently asked questions here.
Beginning in Fall 2015, the CAS VEE requirement in Applied Statistical Methods was replaced by CAS Exam S. However, CAS transition rules allowed for candidates with credit for either Exam LC and/or Exam ST to take the remaining exam/educational requirements to obtain credit for the new CAS Exam S by August 31, 2016.
Some students are able to obtain VEE credit for coursework they completed in undergraduate or graduate school. Other actuarial candidates choose to obtain VEE credit after school through SOA/CAS approved online courses that include a proctored exam.
ACTEX Learning offers online VEE courses for all of the required topics. Their exam results are approved for credit by the SOA and CAS. The ACTEX VEE courses include: Microeconomics, Macroeconomics, Corporate Finance, and Applied Statistical Models, which is split into three courses: Time Series, Regression Analysis, and Applied Statistics. The ACTEX VEE courses are consistently well reviewed and their instructor support is excellent. Click here to see all of their VEE Course options.
Keep up-to-date on the coming changes to the SOA’s VEE requirements on the SOA’s Curriculum Changes web page.