Transition Rules for FSA Track Changes Effective July 1, 2013
FSA Track Name Changes and Additions
| FSA Tracks before July 1, 2013 | 2013 FSA Tracks (effective July 1, 2013) |
| Finance/ERM | Corporate Finance and ERM (CFE) |
| Investment | Quantitative Finance and Investment (QFI) |
| Individual Life and Annuities | Individual Life and Annuities |
| Retirement Benefits | Retirement Benefits |
| Group and Health | Group and Health |
| General Insurance (new) |
Exam dates to qualify for transition credit
The dates in the track tables below refer to when the exam was taken, not when results are posted. If you receive credit for an exam(s) in the first column of the table it will convert to credit for the exam(s) on that same row in the second column of the table.
Investment Strategy Module Discontinued
The Investment Strategy Module will no longer be offered after July 1, 2013. Therefore, candidates registering for the module before July 1, 2013 must complete the module (including meeting minimum requirements on the end-of-module exercise) by December 31, 2013 to receive transition credit for a module in the new structure. Candidates must submit their end-of-module exercise by no later than November 15, 2013 to allow time for grading.
Financial and Health Economics (FHE) Module Enhancements
Additional information will be added to the FHE module after July 1, 2013 and it will be renamed the Financial Economics (FE) Module. The enhanced version of the module will be required for only four FSA tracks after July 1, 2013 (Individual Life and Annuities, Retirement Benefits, Group/Health and General Insurance).
Candidates registering for the FHE module before July 1, 2013 will have the full 12-month time frame to complete the module (with the 6-month extension if purchased). Credit earned for that module will be applied to the new FE module for the four tracks requiring that module in the new structure. For the new Corporate Finance and ERM track and the new Quantitative Finance and Investment track, the transition rules below will apply.
Please note: that when this information was originally published, it was anticipated that the new name for the Financial and Health Economic Module would be Financial, General Insurance and Health Economics Module. The new name has now been shortened to simply the Financial Economics Module.
Enterprise Risk Management (ERM) Module
In some cases, due to transition rules, the ERM module requirement may be considered to have been met. However, candidates wishing to earn a CERA must pass the ERM module itself.
FSA Transition Rules by Track
Corporate Finance and ERM (CFE) Track Transition Rules
Credit for the item or items in the first column gives credit for the item or items on that row in the second column unless otherwise noted.
| Before July 1, 2013 | Effective July 1, 2013 |
| Financial Economic Theory and Engineering (FETE) exam | Foundations in CFE exam |
| Advanced Finance/ERM (AFE) exam or
Advanced Finance (AdvF) exam and the ERM exam |
ERM exam and
Strategic Decision Making exam |
| ERM exam but not AdvF exam | ERM exam |
| AdvF exam but not ERM exam | Strategic Decision Making exam (Part A)* |
| Financial and Health Economics module** | Advanced Topics in CFE module |
*This exam will have A and B parts for the first two administrations. Candidates without AFE or AdvF must pass the entire exam. Candidates with only AdvF must pass only part B. After July 1, 2014 all candidates must take the entire exam.
**This module is not a requirement for the new CFE track. Candidates registering for the module before July 1, 2013 will have the full 12-month time frame to complete the module (with the 6-month extension if purchased).
Quantitative Finance and Investment (QFI) Track Transition Rules
Credit for the item or items in the first column gives credit for the item or items on that row in the second column unless otherwise noted.
| Before July 1, 2013 | Effective July 1, 2013 |
| Financial Economic Theory & and Engineering (FETE) exam | QFI Core exam and Investment Risk Management exam |
| Advanced Portfolio Management (APM) exam | QFI Advanced exam and Investment Risk Management exam |
| Financial and Health Economics module* or Investment Strategy module** (but not both) | Financial Modeling module |
| Financial and Health Economics module* and Investment Strategy module** | If no other FSA modules completed, Candidate must take the ERM module. If candidate has completed three FSA modules, no further modules are required. Candidates for CERA must pass the ERM module. |
*This module is not a requirement for the new QFI track. Candidates registering for the module before July 1, 2013 will have the full 12-month time frame to complete the module (with the 6-month extension if purchased).
**This module has been discontinued. Therefore, it must be completed (including meeting minimum requirements on the end-of-module exercise) by December 31, 2013 for transition credit to be applied. Candidates must submit their end-of-module exercise by no later than November 15, 2013 to allow time for grading.
Individual Life and Annuities Track Transition Rules
Credit for the item or items in the first column gives credit for the item or items on that row in the second column unless otherwise noted.
| Before July 1, 2013 | Effective July 1, 2013 |
| ILA DP | Life Pricing exam and
Life Risk Management exam |
| ILA CSP | Life Finance and Valuation exam and
Life Risk Management exam |
| Financial and Health Economics module* | Financial Economics Module |
| Financial Reporting module** | ERM module, but if earning a CERA must also
pass the ERM module. |
* This module will be enhanced and renamed the Financial Economics Module after July 1, 2013. Candidates registering for this module before July 1, 2013 will have the full 12-month time frame to complete the module (with 6-month extension if purchased) and credit earned will be applied to the new Financial Economics Module.
**This module is not a requirement for the new ILA track. Candidates registering for this module before July 1, 2013 will have the full 12-month time frame to complete the module (with 6-month extension if purchased).
Retirement Benefits Track (Canada) Transition Rules
Credit for the item or items in the first column gives credit for the item or items on that row in the second column unless otherwise noted.
| Before July 1, 2013 | Effective July 1, 2013 |
| Retirement Benefits DP (Can) | Funding and Regulation (Can) exam and
Retirement Plan Investment and Risk Management exam |
| Retirement Benefits CSP (Can) | Design and Accounting (Can) exam and
Retirement Plan Investment and Risk Management exam |
| Financial and Health Economics module* | Financial Economics Module |
| Investment Strategy** | ERM module, but if earning a CERA must
also pass the ERM module. |
* This module will be enhanced and renamed the Financial Economics Module after July 1, 2013. Candidates registering for this module before July 1, 2013 will have the full 12-month time frame to complete the module (with 6-month extension if purchased) and credit earned will be applied to the new Financial Economics Module.
**This module has been discontinued. Therefore, it must be completed (including meeting minimum requirements on the end-of-module exercise) by December 31, 2013 for transition credit to be applied. Candidates must submit their end-of-module exercise by no later than November 15, 2013 to allow time for grading.
Retirement Benefits Track (U.S.) Transition Rules
Credit for the item or items in the first column gives credit for the item or items on that row in the second column unless otherwise noted.
| Before July 1, 2013 | Effective July 1, 2013 |
| EA-2A | EA-2F |
| EA-2B | EA-2L |
| Retirement Benefits DP (US) | Retirement Plan Investment and Risk
Management exam |
| Retirement Benefits CSP (US) | Design and Accounting exam (U.S.) |
| Financial and Health Economics module* | Financial Economics Module |
| Investment Strategy** | ERM module, but if earning a CERA must also
pass the ERM module. |
* This module will be enhanced and renamed the Financial Economics Module after July 1, 2013. Candidates registering for this module before July 1, 2013 will have the full 12-month time frame to complete the module (with 6-month extension if purchased) and credit earned will be applied to the new Financial Economics Module.
** This module has been discontinued. Therefore, it must be completed (including meeting minimum requirements on the end-of-module exercise) by December 31, 2013 for transition credit to be applied. Candidates must submit their end-of-module exercise by no later than November 15, 2013 to allow time for grading.
Group and Health Track Transition Rules
Credit for the item or items in the first column gives credit for the item or items on that row in the second column unless otherwise noted.
| Before July 1, 2013 | Effective July 1, 2013 |
| Group and Health DP | Group and Health Core exam and
Group and Health Specialty exam |
| Group and Health CSP | Group and Health Advanced exam and
Group and Health Specialty exam |
| Financial and Health Economics module* | Financial Economics Module |
* This module will be enhanced and renamed the Financial Economics Module after July 1, 2013. Candidates registering for this module before July 1, 2013 will have the full 12-month time frame to complete the module (with 6-month extension if purchased) and credit earned will be applied to the new Financial Economics Module.
General Insurance Track Transition rules
- The Financial and Health Economics module will be enhanced and renamed the Financial Economics Module after July 1, 2013. Candidates registering for The Financial and Health Economics module before July 1, 2013 will have the full 12-month time frame to complete the module (with 6-month extension if purchased) and credit earned will be applied to the new Financial Economics Module.