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Thread: What is the differnce between the SOA and the CAS?

  1. #1
    Raymond1984
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    Question What are the differences between CAS and SOA?

    I m kinda confusing about CAS and SOA......doesnt they are both actuarial society and offer exams?

    So, what is the difference between them? and which exams u guys suggest me to take?(CAS's or SOA's ?)

    Thanks

  2. #2
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    Quote Originally Posted by Raymond1984
    I m kinda confusing about CAS and SOA......doesnt they are both actuarial society and offer exams?

    So, what is the difference between them? and which exams u guys suggest me to take?(CAS's or SOA's ?)

    Thanks
    The CAS is the Casualty Actuarial Society. Actuaries there work on things similar to property insurance... homeowners insurance and auto insurance are the ones most people would be familiar with.

    The SOA is the Society of Actuaries. These actuaries tend to work on life insurance, health insurance, and annuities.

    Three of the first four exams are jointly administered, so there's no need to make a choice this far in advance.

  3. #3
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    What's the difference between SOA and CAS

    Is there anyone knowing what is the difference between these two organization and their exams?
    I would like to know the difference between not only their exams, but also their constitutions.

    Thanks^^

  4. #4
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    Quote Originally Posted by masu
    Is there anyone knowing what is the difference between these two organization and their exams?
    I would like to know the difference between not only their exams, but also their constitutions.

    Thanks^^
    In a very general sense, SOA deals with pensions, life insurance and health insurance. CAS deals with property and casualty insurance. There are specifications within each society, but those are the most "popular" sections within each society.

    The SOA has 4 preliminary exams, 3 of which are jointly used by SOA, CAS and CIA (Canadian Institute of Actuaries). After that, the SOA has two sets of modules, 4 exams, a capstone module and 2 professionalism seminars to become an associate/fellow.

    The CAS also has 4 preliminary exams, with CAS 3 being the only exam that is not jointly offered between SOA and CAS (i.e. SOA does not accept credit for their Exam M if you take CAS 3). After the preliminary exams, there are 3 exams to get one's associateship and an additional 2 exams for fellowship.

  5. #5
    You spam? I ban! Irish Blues's Avatar
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    CAS >>> SOA.

  6. #6
    Actuary.com - Level I Poster Cloud's Avatar
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    Lightbulb Difference between SOA and CAS

    What is the difference between SOA and CAS?
    Are they two different exams?
    What should I be taking?

    I live around NYC and would like to have some information regarding first exam.
    I'm accounting major, mathematics minor senior.

  7. #7
    Actuary.com - Level I Poster
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    You may have already figured it out by now, but I would suggest the SOA and CAS websites (www.soa.org, www.casact.org) as well as www.beanactuary.org for background info on the SOA, the CAS, and the examinations.

    In short, SOA Exams P, FM, and C are identical to CAS Exams 1, 2, and 4 respectively. The CAS administers their own Exam 3 but currently accepts SOA Exam M in it's place (but the SOA doesn't accept CAS Exam 3 credit in the place of Exam M), though I don't know how long that will last. After the first four exams the exams are significantly different - which isn't so bad because by then almost all actuarial students are employed and know whether they want to go the SOA route (generally life, health, or pension) or the CAS route (generally property/casualty).

  8. #8
    Actuary.com - Level I Poster Cloud's Avatar
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    Thank you so much for your reply,

    I have one more question, so if you pass P exam for CAS, does it mean you can take 2nd exam for CAS or SOA?

    or do you have to take 1st exam for SOA even though you passed 1st for CAS.

  9. #9
    Actuary.com - Level V Poster djerry81's Avatar
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    which route pays the most....SOA or CAS

  10. #10
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    Quote Originally Posted by Cloud
    Thank you so much for your reply,

    I have one more question, so if you pass P exam for CAS, does it mean you can take 2nd exam for CAS or SOA?

    or do you have to take 1st exam for SOA even though you passed 1st for CAS.
    Exams 1, 2 & 4 are jointly administered by SOA, CAS and CIA. So, if you pass Exam 1/P, you get credit with either society. The same goes for Exam 2/FM and Exam 4/C. For CAS Exam 3, you receive credit for it if you pass SOA Exam M, but the converse does not apply (you do not get credit for M if you pass CAS 3).

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