It is designed to provide an internationally recognised professional qualification, proven technical and professional skills, and a gateway to a career in financial services. Once you have qualified as a CAA, you will be equipped with key analytical skills that will enable you to advance your career.
　　The qualification
　　The qualification takes two to three years to complete and you can study and sit exams around the world while continuing to work full time.
　　The qualification consists of an entry test (Module 0) which candidates have to pass, before applying for Student Actuarial Analyst (SAA) membership and taking a further five exam modules (Modules 1-5), focusing mainly on calculations and bookwork.
　　Module 0 can be sat by non-members. If you have passed subject CT1 as a non-member you will be exempt from taking Module 0.
　　Modules 1-4 cover Finance and Financial Mathematics, Statistics and Models, Long Term Actuarial Mathematics, and Short Term Actuarial Mathematics. These can be taken in any order.
　　Modules 0-4 are assessed by Computer Based Testing.
　　Module 5 (Models and Audit Trails) is a practical exam, delivered online and can only be taken once Modules 0-4 have been completed.
　　Once you have completed Module 0-5, the Online Professional Awareness Test (OPAT) and completed the work-based skills requirement, you will be eligible to qualify as a Certified Actuarial Analyst.
　　Transferring to the CAA qualification
　　If you are a student member and would like to become a Student Actuarial Analyst, or a Certified Actuarial Analyst, you may be eligible to apply for exemptions during the transfer window, 3 November 2014 - 29 January 2016.
　　Certified Actuarial Analysts will be subject to regulation by the IFoA, including the Disciplinary Scheme and CPD Scheme, compliance with the Actuaries’ Code, and ongoing CPD and professional skills training requirements. The qualification does not entitle a Certified Actuarial Analyst member to call him or herself an actuary.
　　The CAA is a separate qualification to Fellowship and will equip you with a different set of technical skills to that of the Fellowship route
　　For this reason the CAA and Fellowship qualifications cannot be pursued at the same time. It is important to review both pathways and choose the qualification which is most relevant to your situation and ambitions.