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U.S. Regulatory Life Certificate
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U.S. Regulatory Health Certificate

The U.S. Regulatory Health Certificate is for actuaries who need to sign the National Association of Insurance Commissioners (NAIC) statements of actuarial opinion as defined in the Specific Qualification Standard (SQS) of the U.S. Qualification Standards. This is also known as the Statement of Actuarial Opinion, NAIC Health Annual Statement.

Who Should Consider This Certificate

  • This certificate is for actuaries who wish to meet the SQS basic education requirements through SOA education. It requires completion of specific FSA courses along with the certificate. See below for course requirements as well as transition rules for those with credits from the prior FSA pathway.
  • Actuaries who support the appointed actuary are not required to have this certificate, however it provides valuable information and can be used toward continuing education requirements.
  • For actuaries not practicing in valuation, the certificate may be useful continuing education.

Not All Actuaries Need This Certificate

  • Most actuaries do not need this certificate because the FSA pathway satisfies the General Qualification Standard.
  • Individuals who completed the Health FSA track in its entirety prior to November 2025 do not need this certificate.

Pathway Requirements

FSA requirements and SQS requirements overlap but are not identical.

To meet the Health SQS, individuals must take specific courses that cover some of the NAIC knowledge statements.

 

Pathway: U.S. Health Actuary with Signing Authority

2 sequenced courses

GH 101 Benefits and Pricing
GH 201-U Valuation and Regulation, U.S.

2 additional courses

GH 301 Health Analytics and Management
One additional technical course

Decision Making and Communication (DMAC)

Fellowship Admissions Course (FAC)

U.S. Regulatory Health Certificate Program

Actuaries must complete the three specific fellowship courses and the U.S. Regulatory Health Certificate. After completing these requirements, they will have covered all knowledge statements to meet the health Standard’s basic education requirements.

 

U.S. Regulatory Health Certificate Components

The program includes three components:

Self-Paced e-Learning

Approximately 40–60 hours of content.

Live Virtual Seminar

Approximately 6-8 hours in length. Participants will join a live instructor along with other individuals working on the certificate.

Take-Home Assessment

Offered three times a year and completed in a 96-hour window, at the same time as other individuals registered in the program. The assessment should take approximately 8-10 hours to complete.

Certificate Timeline

  • The SOA provided access to the e-Learning content sections in summer 2026
  • The first virtual seminar will be approximately one week before the assessment
  • The first assessment window is expected in November 2026, with three windows in 2027

Those taking the November 2026 assessment will also need to complete the reinsurance section at a later date. The reinsurance module is currently being finalized with stakeholder input and will be published as soon as it is available. Please contact education@soa.org

Fees and Registration

  • Full certificate program includinge content, live virtual seminar and one assessment attempt: $1,500 USD
  • Each additional assessment attempt: $300 USD
Register for U.S. Regulatory Health Certificate

Transition Rules

The certificate is for actuaries who wish to meet the basic education requirements for the U.S. Specific Qualification Standard through SOA education. It requires completion of specific FSA courses along with the certificate. See below for course requirements as well as transition rules for those with credits from the prior FSA pathway.

Candidates who have earned the FSA using a combination of exams/courses from old and new pathways may or may not need the Regulatory Health Certificate Program to meet the SQS. To meet the SQS, an actuary must have completed each of the following four requirements:

  • GH DP or GH 101 Benefits and Pricing
  • GH VRU or GH 201-U Valuation and Regulation, U.S.
  • GH RM or GH 301 Health Analytics and Management
  • U.S. Regulatory Health Certificate

All actuaries completing their FSA will meet the basic education requirements for the U.S. General Qualification Standard without needing the certificate.

Fellows who used earlier versions of these exams need to check the transition rules to verify that they have credit for the indicated components above. Those who earned fellowship earlier using exams entirely from the Group and Health track will not need the certificate. Fellows without the first three courses can use the alternative basic education requirement from Section 3.1.2 of the SQS.

Questions and Answers

In combination with specific FSA courses, the U.S. regulatory certificate covers all the knowledge statements for meeting the basic education requirements of the SQS.  

The certificates will be of value to FSAs or near-FSAs who intend to be an insurer’s appointed actuary, work heavily in valuation aspects of an insurer, or will be required to sign specific life or health financial valuation statements (colloquially, blue blank and/or orange blank). The certificates will also benefit those working on teams that focus in these areas.

There are no prerequisites for individuals to take the U.S. Regulatory Certificates.

No. The certificate is for FSAs working in life and health who have completed their FSA requirements in November 2025 or onward, and intend to sign a Statement of Actuarial Opinion.

The certificate is not a requirement and is not necessary to obtain an FSA. If you have taken the FSA course requirements that align with the certificate and currently work in life or health valuation or you decide to work in health or life valuation later, you may want to take this certificate now.

The certificate is not necessary to obtain on FSA. 

FSAs earned completely under the prior structure do not need to take any additional courses. While they meet the basic education requirements, they are still responsible for the other requirements of the SQS.

The U.S. Regulatory certificates were designed like other SOA e-Learning modules.

Each certificate is an educational program that comprises:

    • Self-paced e-Learning (40–60 hours)
    • Live virtual seminar with an instructor (6-8 hours)
    • Take-home assessment (96-hour window)

The assessment will be offered three times during the year.

The SOA released both the life and health certificate modules.

The live, virtual seminar and assessment will be available by November 2026 and it will be offered three times a year starting in 2027.

The reinsurance section of the life certification is still being finalized. Those taking the November 2026 assessment in life will also need to complete the reinsurance section at a later date. Please contact education@soa.org.

The first assessment for both regulatory certificates will open in October 2026. There will be a 120-hour period and candidates select the 96 hours to work within. There will be three assessment windows starting in 2027.

Once downloaded, the assessment must be completed within 96 hours or before the submission deadline, whichever comes first. If your submission is not uploaded before time expires,you will need to retake the assessment during the next offering.

In conjunction with required coursework, the SOA’s regulatory certificates will have covered the knowledge statements of the Basic Education requirement in Section 3.1.1 of the U.S. Specific Qualification Standard (USQS_2021). The SOA courses and exams are the only formal way a candidate can demonstrate coverage of all the knowledge statements.

Members of U.S.-based organizations that have adopted the Code of Professional Conduct, whether or not they are also members of the American Academy of Actuaries, are subject to all requirements imposed by the Qualification Standard for Actuaries Issuing Statements of Actuarial Opinion in the United States (U.S. Qualification Standards). 

All FSAs who took courses in the new pathway meet the basic education requirements for signing general statements of actuarial opinion.

To cover the SQS, you must take specific exams in addition to the certificate in your practice area/line of business:

  • Health:
    • GH 101: Benefits and Pricing
    • GH 201-U: Valuation and Regulation, U.S.
    • GH 301: Health Analytics and Management
  • Life
    • ILA 101: Pricing and Introduction to Valuation and Risk Management
    • ILA 201-U: Valuation and Advanced Product and Risk Management, U.S.
    • CP 351: Asset Liability Management
    • Regulation and Taxation module

There will be an annual review to ensure that the curriculum reflects current practice and regulations.