The Institute and Faculty of Actuaries (IFoA), in partnership with computer-based testing leader Pearson VUE, has developed and launched a new professional qualification and membership category, the Certified Actuarial Analyst (CAA).
The CAA exams, consisting of six modules, will professionalise the growing number of technical and analytical roles in companies. It is expected to take two to three years on average for students to pass the exams and gain the resulting qualifications.
The IFoA's subject matter experts worked with Pearson VUE's team of content developers to create challenging, mathematically complex questions along with planning work-flow and process details. Candidates can sit the test at any of Pearson VUE's network of over 5,000 highly secure test centres in 178 countries.
Derek Cribb, CEO of the IFoA, said:
"The CAA will represent the highest academic standards, with continuous professional development requirements and a robust regulatory approach for employers, regulators and the public alike. There is a strong demand for the CAA in the financial sector and we worked closely with employers in developing the new professional standard to meet their need for professional technicians and analysts. We selected Pearson VUE to develop and deliver this exam because of their reputation for excellence in computer-based assessment."
Bob Whelan, President and CEO of Pearson VUE, said:
"We are proud to be entering into this multi-year partnership with the IFoA. We are seeing an upsurge of businesses taking advantage of our full suite of services to develop, manage, deliver and grow its testing programmes. This new qualification will make a big difference to the careers and lives of professionals around the world, and we are thrilled to be a part of it."
Full study materials and details for the qualifying Module 0 examination in August  are available on the www.actuaries.org.uk/becoming-actuary/caa website.