Im exempt from the CIA Qualification Standard. Does this mean I can meet my SOA CPD requirement using alternative compliance and earning no CPD credits?
No. As noted in FAQ AC5, you must completely fulfill the requirements of the alternative standard (in this case, the CIA Qualification Standard) to be eligible for alternative compliance. AC7. I’m subject to the CPD Scheme of the Faculty & Institute of Actuaries (U.K. CPD Scheme). I can meet the U.K. CPD Scheme through Category 3. Does this meet the alternative compliance provisions of the SOA CPD Requirement? No. Category 3 and 4 of the U.K. CPD Scheme are specifically excluded as means of alternative compliance with the SOA CPD Requirement. Category 3 allows members to determine their own minimum number of CPD hours, and Category 4 does not require any CPD hours. The SOA Board felt that the lack of a specific minimum requirement did not meet the rigor of the other alternative compliance standards. You can elect to complete Category 1 or 2 of the U.K. CPD Scheme as a means of completing the SOA CPD Requirement, or you can meet the provisions of Section B of the SOA CPD Requirement.
