Validation by Educational Experience
One of the requirements of the professional actuarial
education system in the United States, as administered by
the Society of Actuaries
and the Casualty Actuarial
Society is the process of Validation
by Educational Experience (VEE). This VEE process is a
requirement for completing educational experiences in three
areas: Economics, Accounting and Finance, and Statistics. It
is mandatory for all candidates seeking to attain actuarial
certifications from these societies. In order for an
educational experience to count in the professional
actuarial education system, it must be approved by the VEE
Committee of the Society of
Actuaries and the Casualty
Actuarial Society.
The following Illinois State University classes are
approved as VEE Courses (a student must obtain a grade of at
least B- to receive the VEE Course credit), and upon
completion of two regular actuarial
examinations can be submitted for certification by the
Society of Actuaries and
the Casualty Actuarial
Society (see instructions near the bottom of this
page):
VEE Statistics
- Mathematics 351, Statistics and Data Analysis, for classes
taken in the period between August 16, 2001 and December
31, 2024 (and later on, if renewed after that
date).
VEE Economics
- Economics 101, Principles of Microeconomics, approved
for microeconomics component only, for this class
taken in the period August 15, 2018 -- December 31, 2024 (and later on,
if renewed after that date), note that you should
take both ECO 101 and ECO 102 to get full VEE credit,
- Economics 102, Principles of Macroeconomics, approved
for macroeconomics component only, for this class taken in
the period January 14, 2019 -- December 31, 2024 (and later on,
if renewed after that date), note that you should
take both ECO 101 and ECO 102 to get full VEE credit,
- Economics 105, Principles of Economics, approved for
this class taken in the period January 1, 1998 -- August
15, 2019, note that this class is no longer offered
effective Fall 2019 semester,
- Economics 240, Intermediate Microeconomic Theory, along
with Economics 241, Intermediate Macroeconomic Theory,
approved for these classes taken in the period 1984-2024 (and later on,
if renewed after that date), or
- Economics 440, Advanced Microeconomic Theory, along with
Economics 441, Advanced Macroeconomic Theory, approved for
these classes taken in the period 1984-2024 (and later on,
if renewed after that date).
VEE Accounting and Finance
- Finance Insurance and Law 341, Intermediate Business
Finance (actuarial students should plan to take this class
in the Spring semester), along with Finance, Insurance and
Law 242, Investments (actuarial students should plan to
take this class in the Fall semester), and ACC
131 (Financial Accounting) approved for these classes
taken in the period 1991-2024, (and later on, if renewed after
that date) or
- Finance Insurance and Law 341, Intermediate Business
Finance (actuarial students should plan to take this class
in the Spring semester), taken in the period 1991-2024,
along with Mathematics 483, Mathematical Models in Finance
and Investments (offered only on the Fall), and ACC
131 (Financial Accounting), taken in the period 2002-2024
(and later
on, if renewed after that date), or
- MBA 440, Financial Management, along with Finance,
Insurance and Law 242, Investments (actuarial students
should plan to take this class in the Fall semester), and
ACC 131 (Financial Accounting), approved for these
classes taken in the period 1991-2024 (and later on,
if renewed after that date), or
- MBA 440, Financial Management, taken in the period
1991-2024, along with Mathematics 483, Mathematical Models
in Finance and Investments,and ACC 131
(Financial Accounting), taken in the period 2002-2024 (and later on,
if renewed after that date), or
- Agriculture 418, Advanced Agricultural Finance, and
ACC 131 (Financial Accounting), approved for classes
taken in the period 2000-2024, or
- Agriculture 315, Financial Management and Analysis of
the Agriculture Firm, and ACC 131 (Financial
Accounting), approved for classes taken in the period
2000-2024.
To receive credit for a subject, candidates will need a
grade of B- or better in each of the associated courses.
Students should follow instructions at the web site
describing approved VEE courses: http://www.soa.org/education/exam-req/edu-vee.aspx
for submission of their class transcript to receive credit
in the new actuarial examination system. A student must have
credit for two regular actuarial
examinations before submitting such an application.