November 19, 2020
The CAS Institute (iCAS) is now offering a waiver for CSPA Exam 3 to candidates who have passed CAS Modern Actuarial Statistics (MAS) Exam II. This newest waiver was made possible by moving some material from CSPA Exam 3 to CSPA Exam 2, making it align more closely to MAS I (or the old Exam S) and MAS II. Since the Exam 3 material on causal inference is not covered in the CAS exams, candidates who apply for the waiver will be required to take a short virtual course to learn the missing material.
This change is one of several waivers already available for CAS members and candidates. Currently, candidates who have passed CAS Online Courses 1 and 2 and CAS Exam 5 are eligible for the CSPA Exam 1 waiver. Furthermore, CAS candidates who have completed the CAS Course on Professionalism are exempt from the iCAS ethics course requirement. With the assistance of the above waivers, candidates meeting all the necessary requirements may only need to pass CSPA Exam 2 and the CSPA Case Study Project to earn the CSPA credential (see table).
CSPA Exam 2 is offered through The Institutes during its four exam windows throughout the year. The twice-yearly CSPA Case Study Project, in which candidates can apply knowledge on the exams to solving a real-life business problem, typically begins 2-3 months after each offering of CSPA Exam 3. In 2021 the first sitting of the Project will begin on January 15. Exam 3 will be offered in May (exact date to be determined after finalization of CAS Spring exam schedule). Start dates for the Fall 2021 CSPA Exam 3 and Case Study Project have not yet been determined.
Complete information on all the waivers and the appropriate waiver request forms can be found online.
Summary of CSPA Waivers Fulfilled by CAS Exams
| If you have: | You will receive credit for the following CSPA requirements | ||||
| Exam 1: Property – Casualty Insurance Fundamentals | Exam 2: Data Concepts And Visualization | Exam 3: Predictive Modeling – Methods and Techniques | Case Study Project | Ethics Course | |
| CAS Online Course 1 and 2 and Exam 5 | ✔ | ||||
| CAS MAS I + MAS II | ✔ | ||||
| CAS Course on Professionalism | ✔ | ||||
