Actuaries are professionals who use data analysis technology to identify, predict and manage risks. They play an important role in insurance operations, risk and strategic management, and social security fields.
In order to strengthen the construction of the actuarial professional talent team, promote the healthy development of my country's actuarial industry, and better meet the needs of high-quality development of my country's insurance industry, in accordance with the "Insurance Law" and the national professional qualification system and other relevant regulations, the China Banking and Insurance Regulatory Commission and the Ministry of Human Resources and Social Security have studied and drafted The "Professional Qualification Regulations for Actuaries (Draft for Comments)" and the "Implementation Measures for the Professional Qualification Examination for Actuaries (Draft for Comments)" (hereinafter referred to as the "Qualification Regulations" and "Implementation Measures") have recently been publicly solicited for opinions.
The "Qualification Regulations" clarify that the professional qualifications of actuaries in my country include two levels: associate actuary and full actuary. The associate actuary qualification is a prerequisite for obtaining the full actuary qualification. There are seven professional categories at the actuarial level: life insurance, non-life insurance, health insurance, social insurance and pension plans, financial risk management, asset management, and data science to meet my country's demand for actuarial talents in many fields.
At the same time, the "Qualification Regulations" and "Implementation Measures" have optimized the registration conditions and examination settings for the Actuary Professional Qualification Examination. First, judging from the registration conditions, the "Qualification Regulations" clearly state that those with a bachelor's degree (including undergraduate students) or above can register to take the exam. Second, in terms of examination subjects, the "Implementation Measures" stipulate that my country's associate actuaries examination has 5 subjects; the examination for full actuaries is divided into 7 professional categories, including 1 public subject, 3 professional subjects, and 1 elective subject. . Third, from the perspective of correspondence with professional titles, those who have obtained the professional qualification of associate actuary can correspond to the professional title of intermediate economist if they meet the relevant conditions such as the working years of the professional title of intermediate economist; those who have obtained the professional qualification of full actuary, if they meet the qualifications of senior economist If you have working experience and other relevant conditions for the professional title of economist, you can participate in the evaluation of the professional title of senior economist.
The "Implementation Measures" stipulate that the China Association of Actuaries (hereinafter referred to as the Actuaries Association) is responsible for the implementation of the Actuarial Professional Qualification Examination. In principle, the examination sites are set up in universities and colleges and designated schools for college entrance examinations in cities at or above the prefecture level. Every year There will be one test each in the second and fourth quarters.
The "Qualification Regulations" stipulate the conditions for applying for actuarial professional qualification certificates. The conditions that need to be met for the associate actuary level include: passing the five subject examinations for the associate actuary level; participating in and completing relevant legal and regulatory education and professional ethics education; having a bachelor's degree or above.
The conditions that need to be met for the full actuary level include: obtaining a professional qualification certificate at the associate actuary level; passing a total of 5 public, professional and elective subject examinations corresponding to the professional category requirements for the full actuary level; accumulating more than 5 years of actuarial or financial experience Relevant practical experience in the field; participate in and complete professional ethics education; have a bachelor's degree or above. If the conditions are met, the Association of Actuaries will issue a certificate of the corresponding level supervised by the China Banking and Insurance Regulatory Commission and the Ministry of Human Resources and Social Security.
In terms of improving and standardizing the actuarial professional qualification management system, the "Qualification Regulations" propose that: actuarial professional qualification certificates shall implement a registration service system; actuaries should regularly complete actuarial professional continuing education, constantly update professional knowledge, and improve professional quality and business capabilities; actuaries The Association of Actuaries is responsible for establishing the integrity files of actuarial professional qualification holders and providing relevant information inquiry services to the society; for actuaries who violate laws and regulations, actuarial industry rules and regulations and professional ethics, the Association of Actuaries will cancel their registration and take back Their professional qualification certificates shall be announced to the public.
It is worth noting that the actuarial qualification certificate obtained before the implementation of the "Qualification Regulations" has the same effect as the actuarial professional qualification certificate obtained in accordance with the requirements of the new regulations. For exam subjects that have passed in 2017 and before, the Actuarial Association will formulate subject conversion rules, report them to the China Banking and Insurance Regulatory Commission for filing, and then announce and implement them.
