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The Swiss Solution

BUILDING A GLOBAL ACTUARIAL PROFESSION 6th International Professional Meeting of Leaders of the Actuarial Profession and Actuarial Educators in Central and Eastern Europe April 22 - 24, 2004 Dubrovnik. The Swiss Solution. Legal Requirements. Legislation on Pensions Funds

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The Swiss Solution

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  1. BUILDING A GLOBAL ACTUARIAL PROFESSION 6th International Professional Meeting of Leaders of the Actuarial Profession and Actuarial Educators in Central and Eastern EuropeApril 22 - 24, 2004Dubrovnik The Swiss Solution

  2. Legal Requirements • Legislation on Pensions Funds • Federal Approved Pensions Actuary [PVE Diploma] • Legislation on Supervision of Insurance Companies • Actuary SAA [full member syllabus] • Swiss Stock Exchange By-Laws and legislation • on Accounting • Actuary SAA [full member syllabus]

  3. 1 Courses with examination at the universities. 2 Courses/self-study with examination by lecturers of the universities for the areas indicated by SAA; Areas covered by exams for the PVE-Diploma are exempted. 3 Courses/self-study with examination by lecturers of the universities for the ares indicated by SAA.

  4. Normal Study Actuary SAA In the Bologna-Syllabus SAA the universities allocate credits for Bachelor’s and Master’s Degree. There are credits for practical work within the insurance industry. After passing a Master’s Degree of a University certified by SAA and 3 years of practical actuarial experience the candidate can present his application for the Final Examination by experts of the profession (themselves « Actuaries SAA »).

  5. Complementary Study Actuary SAA (I) Federal Approved Pensions Actuaries have passed an actuarial or an other university degree and obtained the PVE-Diploma (state diploma). After having passed the extra examinations indicated by SAA and a further 3 years of practical actuarial experience the candidate can present his application for the Final Examination by experts of the profession (themselves « Actuaries SAA »).

  6. Complementary Study Actuary SAA (II) Individuals with a mathematical but not necessarily actuarial degree can complete their actuarial education by presenting their CV (with the description of their practical work) to the SAA Examination Committee. After having passed the extra examinations indicated by SAA and a further 5 years of practical actuarial experience the candidate can present his application for the Final Examination by experts of the profession (themselves « Actuaries SAA »).

  7. Final Examination The aim of the final examination is to make sure that the candidate does not only know the technicalities of his specialisation (Life, Pensions, General, Other) but is able to discuss and present actuarial matter in an wider and actual context. The candidate has to present to the experts of the profession a study on an actual subject communicated to him 4 weeks in advance of the examination. The candiate has to accept the code of conduct and the disciplinary procedures. In the final examination he has also to prove his knowledge on these matters.

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