FSA 2025
Major FSA Curriculum Changes in 2025
The SOA is introducing a flexible pathway system, moving away from specialty tracks to a course-based approach.
Key Changes:
- Flexible Course Selection: Choose 4 technical courses that match your career goals
- Two-Course Sequence: Complete a sequenced pair in one practice area
- Practice Areas: Corporate Finance & ERM, Group & Health, General Insurance, Individual Life & Annuities, Investments, Retirement Benefits, Cross Practice
- Timeline: Registration opens July 2025, first courses November 2025
Links open SOA official resources
Transition Guide
📚 Course Mapping
Old FSA exams automatically transition to new FSA courses. Students who passed old exams receive credit for corresponding new courses.
🔗 Official Info
Get complete details on transition rules, timeline, and module deadlines.
Society of Actuaries - FSA 2025Get instant feedback on your written answer responses with AI-powered grading.
This is a supplemental study tool. It is not sufficient as the sole exam prep resource.
⭐ Free pilot program for Fall 2025 only.
The Actuarial NexusCross Practice
CP 311 Strategic Management
Apply strategic management concepts to develop business strategies, understand strategic budgeting for value creation, and use decision-making models for managerial decisions.
Transition credit from:
CP 312 Model Development and Governance
Gain a comprehensive understanding of cash flow and non-cash flow models for long-term insurance business, including their development, application, evaluation, and governance, with emphasis on modeling methodologies, strengths, limitations, and appropriate model management.
Transition credit from:
None
CP 321 Disability, Long-Term Care, and Long-Duration Health Contracts
Covers plan provisions, manual rating, reserving, financial statements, retiree group benefits, and asset adequacy for long-duration insurance contracts.
Transition credit from:
None
CP 341 Advanced Life Reinsurance
Understand types of reinsurance arrangements, risk transfer fundamentals, and key accounting and regulatory considerations for life insurance reinsurance in US, Canadian, and global contexts.
Transition credit from:
None
CP 351 Asset Liability Management
Understand Asset Liability Management objectives, learn to measure risks from assets and liabilities, and apply tools and strategies to manage ALM risks.
Transition credit from:
Individual Life and Annuities
ILA 101 Pricing and Introduction to Valuation and Risk Management
Understand life and annuity product design, pricing, assumption development, product management, valuation concepts, and risk management techniques for insurance products.
Transition credit from:
ILA 201-U Valuation and Advanced Product and Risk Management, U.S.
Understand U.S. valuation principles, capital management methods, life insurance risk management, and advanced product management techniques for individual life and annuity products under U.S. regulatory frameworks.
Transition credit from:
ILA 201-I Valuation and Advanced Product and Risk Management, International
Understand international valuation principles, capital management approaches, life insurance risk evaluation, and advanced product management techniques for individual life and annuity products under international regulatory frameworks.
Transition credit from:
Group Health
GH 101 Benefits and Pricing
Understand plan provisions for short-duration contracts (medical, dental, vision, etc.) and apply pricing, risk assessment, and underwriting principles.
Transition credit from:
GH 201-U Valuation and Regulation, U.S.
Apply valuation principles for group health insurance, prepare financial statements under Statutory and GAAP standards, and evaluate regulatory impacts in the U.S.
Transition credit from:
GH 201-C Valuation and Regulation, Canada
Apply valuation principles for group health insurance, prepare IFRS financial statements, and evaluate regulatory and taxation impacts in Canada.
Transition credit from:
GH 301 Health Analytics and Management
Evaluate provider reimbursement methods, health care intervention programs, risk adjustment applications, and understand social determinants of health impacts on costs and policy.
Transition credit from:
Investment
INV 101 Portfolio Management
Understand asset classes for portfolio construction, portfolio management and assessment techniques, and credit risk management best practices.
Transition credit from:
INV 201 Quantitative Finance
Understand derivatives types, valuation principles and techniques, and various applications and risks of derivatives.
Transition credit from:
Retirement Benefits
RET 101 Retirement Plan Design
Analyze retirement plan designs and investments, and understand risks faced by both retirees/participants and plan sponsors.
Transition credit from:
RET 201 Retirement Plan Valuation
Apply valuation methods for pension benefits, analyze actuarial assumption selection, and perform valuations under applicable accounting standards. The EA exams can be used to obtain RET 201 credit and thus meet half of the two-course sequence requirement.
Transition credit from:
RET 301 Actuarial Topics for Canadian Retirement Plans
Analyze actuarial assumptions for Canadian retirement plans, prepare valuation results under Canadian pension legislation, and apply regulatory and tax requirements.
Transition credit from:
Corporate Finance and ERM
CFE 101 Enterprise Risk Management
Understand ERM fundamentals and how to identify, analyze, and assess risks faced by organizations. Learn how organizations can articulate their approach to risk and evaluate risk-return trade-offs in decision making.
Transition credit from:
CFE 201 Corporate Finance
Understand corporate finance optimization, financial statement analysis, and how managerial accounting impacts organizational performance and decision making.
Transition credit from:
General Insurance
GI 101 Ratemaking and Reserving
Understand general insurance actuarial concepts, prepare claims and exposure data, calculate projected ultimate values, and apply fundamental ratemaking techniques.
Transition credit from:
GI 201 Operational, Financial, Regulatory and Legal
Understand general insurance company structure, regulatory environment, tort and insurance law, financial economics, and financial health analysis.
Transition credit from:
GI 301 Further Topics in General Insurance
Advanced topics in general insurance actuarial work
Transition credit from:
GI 302 General Insurance in the U.S.
Understand U.S. personal and commercial lines insurance products, regulatory frameworks, financial reporting standards, and actuarial responsibilities for U.S. general insurance practice.