The Committee on Qualifications has added a question on qualifications to issue statements of actuarial opinion with respect to long-term care policies to its frequently asked questions (FAQs) on the U.S. Qualification Standards (USQS). For more detail, see question 48 of the FAQs on the USQS webpage.
In the April “Professionalism Counts” column, Keith Passwater, chairperson of the Academy’s Committee on Qualifications, outlines the “look in the mirror” test in determining professional qualification to accept and complete an actuarial assignment.
In the March “Professionalism Counts” column, Ken Kent, vice president of the Council on Professionalism, underlines objectivity and independence as central in maintaining credibility and public trust.
“Addressing Ethical Concerns” is the latest addition to the Academy’s Actuarial eLearning Center. This thought-provoking course takes a deeper, more interactive look at the ethics survey report presented by the Council on Professionalism last spring, focuses on the top perceived ethical concerns facing actuaries in the profession, and provides a decision-making framework for addressing them from the perspective of maintaining the high standards of the actuarial profession. See the upcoming March Actuarial Update for additional coverage.
In the February “Professionalism Counts” column, Academy General Counsel and Director of Professionalism Paul Kollmer-Dorsey offers his first impressions of U.S. actuarial professionalism, concluding that the Academy has established the right set of values, the right set of standards, and the right set of institutions to guide the profession.
In the January “Professionalism Counts” column, learn how to find answers for your questions regarding actuarial qualifications, including the Committee on Qualifications’ frequently asked questions hub.
The Academy has launched the U.S. Qualification Standards Attestation Form, which was developed to help actuaries voluntarily demonstrate how they meet the U.S. Qualification Standards (USQS) specific requirements for signing NAIC annual life, health, and property & casualty statements of actuarial opinion (SAOs). If you do not issue NAIC annual statements, you can still use the Attestation Form to attest to the general qualifications of the USQS. Read more about the Attestation Form here. To go directly to the form, click here.
The Applicability Guidelines for Actuarial Standards of Practice (ASOPs) have been updated to include ASOP No. 50, Determining Minimum Value and Actuarial Value under the Affordable Care Act. Also, in response to continuing inquiries, the Committee on Qualifications recently added more information to one of the questions in the FAQs on the U.S. Qualification Standards. The revision to question No. 31—“Is ‘on the job’ learning considered continuing education?”—may be found online.
The Academy and the Canadian Institute of Actuaries (CIA) have released a Frequently Asked Questions (FAQs) document that reflects our common understanding of how the long standing Cross Border Discipline Agreement (Agreement) works in both the U.S. and Canada. While the Agreement has rarely been used, we want to anticipate and address common questions from the joint perspective of our two national associations. You can find the Cross-Border Agreement here and the FAQs and their answers here.