What should an actuary maintain as evidence of compliance with the continuing education requirements of the qualification standards?
The American Academy of Actuaries does not “audit” actuaries for compliance with the Qualification Standards, however, actuaries may face situations where their CE qualifications are audited by third parties, such as regulators, attorneys in litigation, the Actuarial Board for Counseling and Discipline (or other disciplinary bodies to which the actuary is subject), or other organizations to which such actuary is a member that require audits. Section 6.1 of the Qualification Standards sets forth recommended recordkeeping of CE, however, the method of recordkeeping is ultimately up to the individual actuary. Section 6.1 recommends at a minimum keeping track of the date of the CE, the hours earned, and a brief description of the subject matter. Section 6.2 describes recommended materials that an actuary should consider keeping in case of an audit. For example, certificates of attendance (if available), meeting outlines or handouts, registration materials, and notes (in the case of “other
Related Questions
- Are firms that are members of two or more SROs subject to redundant inspections for compliance with the continuing education requirements?
- Do the continuing education hours required to maintain a professional license count toward the administrator requirements?
- Are there specific requirements for the 80 hours of continuing education necessary to maintain an active license?
