[[Actuarial Notes Wiki|Wiki]] / [[Actuarial Certifications]] / [[Society of Actuaries (SOA)]] / **Fellow of the Society of Actuaries (FSA)** ## FSA Study Guide ### Prerequisites <section class="exam-links"> <a class="exam-link exam-link--darkblue internal-link" href="Exams/Certifications/Associate of the Society of Actuaries (ASA)"> <span class="exam-code">★ ASA</span><span class="exam-name">Associate</span></a> </section> ### Requirements In the fall of 2025, the SOA announced a new flexible pathway, an evolution from the 6 distinct specialty tracks. To earn an FSA, candidates must meet the following requirements: 1. Choose a 101-201 course sequence (2) 2. Choose any other two courses (2) 3. Complete **DMAC** and **FAC** ### FSA Course Catalog **Required Courses** <section class="exam-links"> <a class="exam-link exam-link--amber internal-link" href="..."> <span class="exam-code">DMAC</span><span class="exam-name">Decision Making and Communications</span></a> <a class="exam-link exam-link--slate internal-link" href="..."> <span class="exam-code">FAC</span><span class="exam-name">Fellowship Admissions Course</span></a> </section> **Corporate Finance and ERM** <section class="exam-links"> <a class="exam-link exam-link--lime internal-link" href="..."> <span class="exam-code">CFE 101</span><span class="exam-name">Enterprise Risk Management</span></a> <a class="exam-link exam-link--lime internal-link" href="..."> <span class="exam-code">CFE 201</span><span class="exam-name">Corporate Finance</span></a> </section> **Group and Health Insurance** <section class="exam-links"> <a class="exam-link exam-link--green internal-link" href="..."> <span class="exam-code">GH 101</span><span class="exam-name">Benefits and Pricing</span></a> <a class="exam-link exam-link--green internal-link" href="..."> <span class="exam-code">GH 201-U/C</span><span class="exam-name">Valuation and Regulation (U.S. or Canada)</span></a> <a class="exam-link exam-link--green internal-link" href="..."> <span class="exam-code">GH 301</span><span class="exam-name">Health Analytics and Management</span></a> </section> **General Insurance** <section class="exam-links"> <a class="exam-link exam-link--emerald internal-link" href="..."> <span class="exam-code">GI 101</span><span class="exam-name">Individual Life and Annuities</span> </a> <a class="exam-link exam-link--emerald internal-link" href="..."> <span class="exam-code">GI 201</span><span class="exam-name">Operational, Financial, Regulatory, and Legal</span> </a> <a class="exam-link exam-link--emerald internal-link" href="..."> <span class="exam-code">GI 301</span><span class="exam-name">Further Topics in General Insurance</span> </a> <a class="exam-link exam-link--emerald internal-link" href="..."> <span class="exam-code">GI 302</span><span class="exam-name">General Insurance in the U.S.</span> </a> </section> **Individual Life and Annuities** <section class="exam-links"> <a class="exam-link exam-link--teal internal-link" href="..."> <span class="exam-code">ILA 101</span><span class="exam-name">Pricing and Introduction to Valuation and Risk Management</span> </a> <a class="exam-link exam-link--teal internal-link" href="..."> <span class="exam-code">ILA 201-U/I</span><span class="exam-name">Valuation and Advanced Product and Risk Management, U.S. / International</span> </a> </section> **Investment** <section class="exam-links"> <a class="exam-link exam-link--cyan internal-link" href="..."> <span class="exam-code">INV 101</span><span class="exam-name">Portfolio Management</span> </a> <a class="exam-link exam-link--cyan internal-link" href="..."> <span class="exam-code">INV 201</span><span class="exam-name">Quantitative Finance</span> </a> </section> **Retirement Benefits** <section class="exam-links"> <a class="exam-link exam-link--yellow internal-link" href="..."> <span class="exam-code">RET 101</span><span class="exam-name">Retirement Plan Design</span> </a> <a class="exam-link exam-link--yellow internal-link" href="..."> <span class="exam-code">RET 201</span><span class="exam-name">Retirement Plan Evaluation</span> </a> <a class="exam-link exam-link--yellow internal-link" href="..."> <span class="exam-code">RET 301</span><span class="exam-name">Actuarial Topics for Canadian Retirement Plans</span> </a> </section> **Cross Practice** <section class="exam-links"> <a class="exam-link exam-link--orange internal-link" href="..."> <span class="exam-code">CP 311</span><span class="exam-name">Strategic Management</span> </a> <a class="exam-link exam-link--orange internal-link" href="..."> <span class="exam-code">CP 312</span><span class="exam-name">Model Development and Governance </span> </a> <a class="exam-link exam-link--orange internal-link" href="..."> <span class="exam-code">CP 321</span><span class="exam-name">Disability, Long-Term Care, and Long-Duration Health Contracts</span> </a> <a class="exam-link exam-link--orange internal-link" href="..."> <span class="exam-code">CP 341</span><span class="exam-name">Advanced Life Reinsurance</span> </a> <a class="exam-link exam-link--orange internal-link" href="..."> <span class="exam-code">CP 351</span><span class="exam-name">Asset Liability Management</span> </a> </section> ### FSA Specialty Tracks (Pre-2025) Pre-2025, there were 6 different tracks to become a **Fellow of the Society of Actuaries (FSA)**. <section class="exam-links"> <a class="exam-link exam-link--gray internal-link" href="..."> <span class="exam-code">CFE</span><span class="exam-name">Corporate Finance and ERM</span></a> <a class="exam-link exam-link--gray internal-link" href="..."> <span class="exam-code">QFI</span><span class="exam-name">Quantitative Finance and Investment</span></a> <a class="exam-link exam-link--gray internal-link" href="..."> <span class="exam-code">ILA</span><span class="exam-name">Individual Life and Annuities</span> </a> <a class="exam-link exam-link--gray internal-link" href="..."> <span class="exam-code">RET</span><span class="exam-name">Retirement Benefits</span> </a> <a class="exam-link exam-link--gray internal-link" href="..."> <span class="exam-code">GH</span><span class="exam-name">Group and Health</span> </a> <a class="exam-link exam-link--gray internal-link" href="..."> <span class="exam-code">GI</span><span class="exam-name">General Insurance</span> </a> </section>